Corporate Social Responsibility and Business Performance Theories and Evidence about Organizational Responsibility
Theories and Evidence about Organizational Responsibility
Chapter 4: The Profits of Responsibility: A Literature Study on the Financial Consequences of CSR
4. The profits of responsibility: a literature study on the financial consequences of CSR The question whether it is profitable to be a moral person dates back to the very beginnings of moral philosophy. Though philosophers have provided answers to this question, it is still one to debate. Empirically, we can show situations wherein it is highly profitable to behave morally. On the other hand, we can also find examples where the exact opposite is the case. The very same discussion is central to the debate of business ethics. In our working life as researchers and consultants, we often come across the well-known cynical remarks, like ‘is there ethics in business?’ ‘Business ethics? Why not decide for one of the two?’ or ‘There is nothing like a moral economic agent’. It is very understandable that managers as well as business studies scholars ask the question whether it is profitable to conduct a moral business. The same holds for any other type of business or management concepts. First of all, business ethics can imply costs for a business: training of staff, management time, consultants, and missed opportunities that arise from unethical behaviour can be seen as the price of business ethics (Gössling, 2003). Managerial rationality demands an analysis of the profitability of every cent that is spent. In business life, managerial rationality, economic approaches and business administration thinking of course are dominant, since managers have a background in these traditions. In the early years of the debate about...
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