Are you aware of the Business Ethics and CSR strategy? 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 fiduciary responsibilities. There are three parts to the discipline of business ethics: personal (on a micro-scale), professional (on an intermediate scale), and corporate (on a macro scale). All three are intricately related. Ethical behavior can significantly benefit a company, namely by improving their reputation which can help boost sales and profits. But the development, implementation, and maintenance of ethical practices can limit a company's freedom to maximize profit. Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. The ultimate purpose of CSR is to maximize shared value among organizations, employees, customers, shareholders, and community members. CSR strategy is the comprehensive plan companies and funders use to design, execute, and analyze their corporate social responsibility initiatives. It includes specific focus areas, program design, promotion and communication approaches, and evaluation procedures.

Anjali Krishna SS

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