A Study on Significance of Business Ethics and CSR with Special Reference to Selected Manufacturing Companies

Abstract

Businesses do run with morality. The world largely understands that the businesses are dependent on the transactional excellence however the business community has learnt the tough lesson of infusing morality into business. Ethics govern the businesses. Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and compliance etc. The Principles of Business Ethic includes Honesty & Integrity, Trustworthiness, Loyalty, Transparency, Respect for Others and Law Abiding. These virtues further support the Organisations to meet their Social Responsibilities. This paper is an Exploratory & Descriptive study conducted with the help of massively secondary data and Primary Data in the form of Interview Method. The Authors have Interviewed 5 Industry representatives to collect the view points on the theme of the study. The Study aims to understand the significance of Business Ethics and CSR for Organizations. It further aims to review the existing literature pertaining to the Business Ethics and CSR. The Authors also aim to study the Business ethics and CSR perspectives with special reference to manufacturing sector. The scope of the study comprises of the thoughtful review of the Business Ethics and CSR. Also the study has the potential to be a literature for further studies in this regard. The Authors have considered the Business Ethics and CSR as a generalized study with specifics related to the selected Company representative Interviews. The Theme of the study may have various other elements associated. Hence this may be a limitation of the study as the inferences are indicative in nature rather exhaustive.