1) First explain what social responsibility means in a business setting.

2) Then, describe what social responsibility means to you personally. Please make a connection to this week's materials citing examples from the readings, or researching beyond the readings. Include a citation to your source(s).

3) Do you think business organizations should be socially responsible. Why or why not? 

4) Finally, make a connection between corporate social responsibility and ethics. What do you think is the best way for managers to ensure and/or encourage their employees to act ethically?

Answer:

1. In the context of business, the term "corporate social responsibility" (CSR) is used to describe social responsibility. CSR indicates that enterprises should act in a way that serves the society in addition to achieving shareholder value.

2. Personally, social responsibility means the duty of individuals to perform civic duties which may benefit the society as a whole. 

3. Business organizations should be socially responsible. Being socially responsible, not only contributes to the society, but is also good for business organizations. This is because being socially responsible improves a business' brand, allowing it to  present a more appealing image to customers and stockholders. 

4. Ethics is related to corporate social responsibility (CSR) since the latter is founded on ethical grounds — it emphasizes the need of companies to act as good corporate citizens, such as by ensuring that their activities do not pollute the environment or deplete scarce resources, and pursuing pro-social objectives apart from maximizing profits. 

Managers can encourage employees to act ethically by providing trainings and seminars that would educate the latter regarding ethics, providing incentives and rewards for employees who work ethically, and most importantly, by behaving ethically and leading by example.

Explanation

1. Social responsibility means that all persons and entities have an obligation to act in the best interest of the environment and the society. In the context of business, the term "corporate social responsibility" (CSR) is used to describe social responsibility. CSR indicates that enterprises should act in a way that serves the society in addition to achieving shareholder value. It mandates companies to embrace policies that promote societal and environmental well-being while minimizing the negative consequences of the undertaking. Companies can be socially responsible in a variety of ways, such as making environmental reforms and engaging in charitable works.

2. For me, social responsibility means the duty of individuals to perform civic duties which may benefit the society as a whole. The theory of social responsibility is founded on ethics, which mandates individuals and groups to do what is right and just, and incorporate morally correct standards into daily actions and decisions, especially when other persons and the environment are affected. It applies not only to businesses, but to everyone whose actions have an impact on the society.

3.  Business organizations should be socially responsible. Being socially responsible, not only contributes to the society, but is also good for business organizations. This is because being socially responsible improves a business' brand, allowing it to  present a more appealing image to customers and stockholders. 

Adopting socially responsible policies can help a business attract and keep customers, thereby ensuring its long-term success. Many people will willingly pay and be loyal customers if they know that a portion of their money will go to social causes that they care about. Furthermore, being a socially responsible business tends to increase employees' morale and boost their performance, thereby increasing productivity.

4. As defined, "Ethics are codes of values and principles that govern the action of a person, or a group of people regarding what is right versus what is wrong." (Levine, 2011; Sexty, 2011). They serve as standards to determine what is right from what is wrong. In the business setting, ethics entail applying the principles which promote the common good.

Ethics is related to corporate social responsibility (CSR) since the latter is founded on ethical grounds — it emphasizes the need of companies to act as good corporate citizens, such as by ensuring that their activities do not pollute the environment or deplete scarce resources and by pursuing pro-social objectives, apart from maximizing profits. 

To encourage ethical behavior among employees, managers may provide trainings and seminars that would educate them regarding ethics, its importance and application. Incentives and rewards for employees who work ethically may also be provided to encourage and acknowledge ethical behavior. Finally, the best thing that managers can do to encourage ethical behavior is leading by example.