CSR is more narrowly about a company’s SOCIAL obligations…that is, a company’s obligations to society in general. This is something that should be so ingrained in a person’s character that nothing will make them waiver. Ethics is focused on the good and bad, the right and wrong. Ethical issues, on the other hand, are problems that have been caused by indivi… eva. Though business ethics and social responsibility seem to be overlapping, there has always been a contradiction between the two. While ethics and social responsibility are sometimes used interchangeably, there is a difference between the two terms. 4 - Why is ethics an important consideration in... Ch. As the economy improves, society is beginning to expect corporations to give back to their environments and communities. Social Media. However, when one talks about business ethics, it becomes a very different thing, because ethics is based on conscience. That’s a simple statement that doesn’t describe how companies can and can’t go about their business. Laws are established by the state and governed, implemented by the state. It is still obliged to perform beneficial activities for society, while business ethics should make a positive move for society. Ethics means moral character and comes from the Greek word ethos. The study also showed that 75% of consumers refused to buy anything from a company if it supported an issue they were against. The behavior that man must display must be according to the acceptable norms of the community or society. Consultants Doug Wallace and John Pekel from the Twin Cities in Minnesota say that business ethics are critical in times of fundamental change such as we are in now. Social responsibility is more of a policy or an obligation to the community, while business ethics is more of a conscience. There are also good things in business that are not good for society and this is where business ethics comes in. and updated on October 12, 2011, Difference Between Similar Terms and Objects, Difference Between Business Ethics and Social Responsibility, Difference Between Pastrami and Corned Beef, Difference Between Social Business and Social Entrepreneurship, Difference Between Government and Business, Difference Between Hedge Fund and Asset Management, Difference Between Social Marketing and Social Media Marketing, Difference Between Rent Abatement and Free Rent, Difference Between Aggregate Demand and Aggregate Supply, Difference Between Shipping and Billing Address, Difference Between Pension and Retirement, Difference Between Basic Research and Applied Research, Difference between Analyzing and Evaluating, Difference Between Vitamin D and Vitamin D3, Difference Between LCD and LED Televisions, Difference Between Mark Zuckerberg and Bill Gates, Difference Between Civil War and Revolution. They can’t do crooked things just to get their desired profit. There are many confusions between these two terms and they tend to get used interchangeably. Difference between social responsibility and ethics Ethics is a system of moral values that a company has to follow in achieving its goals by employing the right behavior for the benefit of shareholders, stakeholders, and the community. This is the main goal of business ethics. Besides going a long way to boost a company’s branding and image, sustainable practices can aid the financial bottom line. With out social responsibility, the community will not benefit, however, without business ethics, business is capitalism at its worst. A corporate ethics program is designed to teach employees the values and policies which set the behavioral standard for those who work and in and around the company. There is no need to resubmit your comment. 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