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Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation [1] which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development ...
Regulatory economics is the application of law by government or regulatory agencies for various economics-related purposes, including remedying market failure, protecting the environment and economic management.
Economic ethics is the combination of economics and ethics, incorporating both disciplines to predict, analyze, and model economic phenomena.. It can be summarised as the theoretical ethical prerequisites and foundations of economic systems.
Social responsibility from businesses such as providing recycling bins can in turn provide opportunities for people to be socially responsible by recycling. Social responsibility is an ethical concept in which a person works and cooperates with other people and organizations for the benefit of the community. [1]
In the 1960s and 1970s, the economist Milton Friedman, in response to the prevailing mood of philanthropy, argued that social responsibility adversely affects a firm's financial performance and that regulation and interference from "big government" will always damage the macro economy. [11]
Economic law is a set of legal rules for regulating economic activity. [ 1 ] [ 2 ] Economics can be defined as "a social science concerned with the production, distribution, and consumption of goods and services."
The professional disciplines included in the corporate responsibility field include legal and financial compliance, business ethics, corporate social responsibility, public and community affairs, investor relations, stakeholder communications, brand management, environmental affairs, sustainability, socially responsible investment, and corporate philanthropy.
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper.