Business ethics is defined as the form of professional ethics or applied ethics that examines the ethical or moral problems and ethical principles arising in the business environment. Business ethics is relevant to conducting the behavior of the entire business as well as the individuals in the business.
Social responsibility on the other hand is involves the manner in which businesses have to conduct their business processes and ensure a positive societal impact.
A business is meant to serve the overall community and since it has competitors to beat, it has to exercise the best business ethics and maintain social responsibilities. With a social responsible firm, all the ethical, legal and economic issues among others are well known and put into practice. A socially responsible company is usually ethical since the social responsibility is driven into being by the ethics of the company. It therefore implies that a social responsible firm has also business ethics and thus can be able to operate in any part of the world since it well knows how to deal with people of different legalities, cultures and morals. Socially conscious firms are not in conflicting situations with the society since they are beneficial to the society. A business with ethics involves its employees in the decision making process thus making the employees satisfied, motivated and committed. These types of employees will be beneficial to the business since they feel appreciated in the workplace and thus have to work towards the achievement of the firm goals to ensure its survival. This implies that one can argue that business ethics and social responsibility are very beneficial to the firm, which practices them.
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