CSR and Ethics in International Business: Issues and Challenges

Abstract

The concepts of ethical behaviour and corporate social responsibility have become more popular in recent years in both developed and developing countries as a result of a growing perception of corporate misbehaviour. These two ideas can have a big impact on a business. Since ancient times, people have believed that businesses have duties to society in addition to generating money for their owners, whereas Business ethics is the art and science of upholding peaceful ties with society, its many organisations, and groups as well as accepting moral accountability for the moral propriety of corporate conduct. No one's well-being is to be treasured or considered more deserving than any other, and ethical principles serve the aims of human well-being. The well-being that ethical values promote is not personal or selfish well-being. Ethical principles impartially advance human welfare. The main goal of this paper is to examine the value of moral principles and business ethics in the highly competitive, globalised world of today. It also aims to raise awareness of the idea and significance of these principles and business ethics for the long-term advancement of this globalised world.