Society now demands that businesses, especially corporations, follow codes of ethics and social responsibility because of corporate social responsibility.
A company may gain a lot from ethical conduct and corporate social responsibility. Since ancient times, people have believed that businesses had duties to society in addition to generating money for their owners. This explains in part why the idea of corporate social responsibility has gained prominence and significance throughout time. One of the main tenets is that firms have both an economic goal to create profit for its shareholders or other owners and a social and ethical obligation. While a company's economic obligations are to create goods and services that society needs and desires at a cost that will allow it to remain in operation and fulfil its financial commitments to investors; the actions or conduct that are expected of corporations by society and other stakeholders, such as workers, are known as ethical obligations.
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