Corporate Social Responsibility as an Ethical Imperative

Angelo Nicolaides
2018 Athens Journal of Law  
Businesses are aware that they need to entrench CSR into their core strategic visions but many pretend to do so. When CSR is applied it should not be for solely financial returns but rather more importantly, be viewed as a moral and ethical imperative which will also add huge value and sustain competitive advantage in a world in which stakeholders are increasingly concerned about for example, environmental issues. The mounting global awareness that social responsibility is closely linked to
more » ... itability and to better business performance is changing businesses top-down. Businesses are being urged by not only their customers, but also other stakeholders, to incorporate social good and sustainability into their operating models. Businesses not embracing CSR sooner or later experience a material negative impact and lose hard earned reputations, credibility and also a strategic advantage. Businesses that are committed to CSR and embrace it are perceived to be reliable, socially responsible partners. Businesses which establish effective CSR practices obtain positive reputations, and those that are highly regarded are the ones which vigorously and incessantly embrace CSR. The importance of CSR and transparency around sustainability issues grounded on ethical practices cannot be ignored. Adopting CSR is well-acknowledged but relatively poorly implemented. It creates value and aligns businesses and society.
doi:10.30958/ajl.4-4-1 fatcat:erctf7fvvvh4lh5cf7fzn6hf5m