There is a wealth of information available regarding the meaning and role of ethics and corporate social responsibility in the 21st century. Corporate social responsibility is the introduction of ethical elements and considerations into business practices so that businesses can benefit society. This movement is a response to the growing awareness that businesses can make decisions to maximize profits and efficiencies that ultimately bring harm to humans, animals and other aspects of the environment.Continue Reading
Millenials use the new wave of communications technologies to become aware of previously opaque social situations that businesses create, according to Business News Daily. Millenials then use those same technologies to advocate for environmental concerns, philanthropic interests and ethical labor practices within businesses. Consumers can choose to not buy a product from companies that demonstrate poor ethical practices, and instead spend money on products from companies whose reputations show higher ethical standards.
Companies implement a variety of measures to improve public perception of their levels of corporate social responsibility. A company may take steps to reduce its carbon footprint with technologies that reduce waste or improve energy efficiency. Another company may donate time or money to charities and local community programs. A company can also improve its perception by treating its employees in a fair and ethical way.Learn more about Managing a Business