Corporate Ethics: The Importance Of Corporate Social Responsibility

Introduction
Corporate Social Responsibility is also commonly referred to as “corporate conscience”, “corporate citizenship”, and “responsible business” [Wikipedia] and is a corporations way of regulating itself to insure their business practices are in line with ethical standards. Not only is it beneficial economically for a corporation to be socially responsible, but it benefits the corporation itself as consumers will appreciate the efforts and shareholders will have more trust in the company. Employees are also more likely to be loyal to a company that has strong ethics. Many companies will go out of their way to exceed expectations and laws when it comes to being socially responsible which definitely helps them out long term. [Wikipedia]

It’s important for them to respect the rights of anyone and everyone who interacts with the corporation whether through employment, consumerism, investing and partnerships. Some companies go above and beyond to make sure they are responsible when it comes to human rights by offering on-site child care and paid family leave. [Australian Human Rights

[Australian Human Rights Commission] The increasing importance of Corporate Social Responsibility will only improve working conditions and our world in general. Of course to a degree these laws meant to protect us can and have been turned against corporations in instances such as being sued for discrimination when in all actuality the candidate or employee was unqualified or under-performing. It is definitely more expensive for corporations to be environmentally responsible which increases our costs as consumers. However if you think about it long term, we will definitely be better off if we take better care of our world. When it comes to CSR, the good definitely outweighs the bed. Not being responsible may seem like an easier option, however the lack of loyalty from employees and investors would ultimately lead to the companies’