Business Ethics And Corporate And Management Strategies Essay

Introduction- An Overview It is a viable alternative to apply CSR in Corporate and management strategies to outclass competing companies. An organization by carrying out its ethical principles and convictions in their activities and propagating them via organizational network influences the relationship with shareholders, clients and employees. The application of CSR can lead to social benefits and legitimacy for the firm since it can consider itself as a coalition in which the different stakeholders participate to gain their own benefit. (Freeman, 1984). The format of the paper includes an analysis of the merging of CSR in the business management of an organization, case for and against CSR with intent to present an overview. Further, we present a case study of Sony Australia Ltd. a wholly owned subsidiary of Japan’s Sony Corporation focusing on their CSR strategies. Finally we conclude with some observations on the affiliation of CSR and business success and the role of ethics in sustaining a firm’s competitive edge. The correlation between Business Ethics and Corporate Governance: The fundamental link Values in business are the driving force that determines ‘what is right and what is wrong while doing business. What values are to individuals, ethics are to business’ (Fernando, A.C. 2012). An obliging attitude towards labor welfare is a value that may impel an entrepreneur to perform more for workers than what the labor laws enunciates. 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