One big bonus of financial contributions is that the amount given is usually tax deductible. So is the way we do business and the way companies present themselves to their customers. They may give money for the tax deduction, for instance, or help out with a disaster out of fear of bad press if they don’t. The company has partnered with local governments and non-profits in order to transform the economic architecture of developing countries. Business ethics take into consideration responsibilities not just inside the workplace, but also within the environmental, cultural, and social structures of communities. So, the lesson is that you don’t need to be an engineer to know that without a solid foundation, your house will crumble. As such, ethical responsibilities may be exemplified through codes of conduct, civil rights, and social and acceptable standards in many areas. Finding a middle ground in such situations is not easy, and unfortunately, more often than not, businesses have been much more concerned with the financial bottom line than with the safety or health of people or the environment. Such cases are only two of the examples of ways in which a company may have an impact on the financial, social, and environmental aspects of society. This goes beyond simply providing jobs to finding ways to help that show appreciation for the customers who support them. According to a 2014 Nielsen survey, more than half of online consumers around the world surveyed (55 percent) said they would pay more for products and services from companies that are socially and environmentally responsible. Although money can serve the same purpose, many businesses will need to incorporate social responsibility into everything they do to ensure that their efforts are visible enough to boost their brand. For local businesses, this may mean giving back to area nonprofits, but companies that operate nationally or globally may see expectations that they help out charities beyond their own geographic boundaries. She worked for the State of Tennessee for 19 years, the latter six of which were spent as a supervisor. Social Responsibility Social responsibility and business ethics are often regarding as the same concepts. "Social responsibility," in simple terms, means a business… Corporate responsibility and accountability spreads into areas of ethics, legalities, and regulations. In the above scenario, it is clear that some decisions in situations are more involved and complicated than straightforward issues. It’s important that leaders find something in which they believe and tie it to the mission of the business. Concerns in such a situation do not merely surround the reputation or financial success of the company, but also involve the environment as well as consumer and community safety. Respect for international norms of behavior. This highlights the increasing importance of having a mission that includes social responsibility in some form. Educational advancement – Training and education programs can help communities grow. In fact, CSR should be an active part of your business plan for 2016; it’s never too late to start making a difference. Social responsibility means that businesses, in addition to maximizing shareholder value, must act in a manner that benefits society. Want to Protect Your Social Mission? There are numerous examples of social responsibility, with some organizations getting fairly creative with their efforts. Milton Friedman’s essay, “The Social Responsibility of Business Is To Increase Its Profits,” was published in the New York Times 50 years ago. A company that sponsors a local fundraiser, for instance, will become known by everyone associated with that charity as a company that supports the local community. Many pay close attention to the social responsibility of management, including chief executive officers, chief operating officers and team leaders.