Legal and Ethical Aspects of CSR: Potential in New Business Models Development

Legal and Ethical Aspects of CSR: Potential in New Business Models Development

Ewa Barbara Wójcik (University of Economics, Poland) and Katarzyna Olejko (University of Economics, Poland)
Copyright: © 2020 |Pages: 24
DOI: 10.4018/978-1-5225-7850-5.ch009

Abstract

The increasingly important role of sustainability issues and CSR in business activity has been widely recognized. In order to promote socially responsible decisions, changes in the macro- and micro-environment should be examined. The study offers insight into different aspects of CSR and defines those whose importance is growing, discusses trends, reasons for the state of affairs, and formulates conclusions of possible effects. The focus is on ethical values, in particular trust, and their changing perception which may lead to new business models strengthening and further development.
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Introduction

Contemporary world has faced challenges of development and in order to ensure they are met profound understanding of the real nature of main problems and obstacles is necessary. There is big potential in sustainable business decisions which are often in line with their CSR practices. In order to promote such decisions motivations and driving forces of both firms' decision makers, as well as individuals providing labour and ultimately using the offerings, should be examined.

The study offers insight into different aspects of CSR and defines those whose importance is growing, discusses trends, reasons for the state of affairs and formulates conclusions of possible effects.

The focus is on ethical values, in particular trust and their changing perception which may lead to new business models strengthening and further development.

Key Terms in this Chapter

Business Ethics: The belief that companies should behave, as individuals, in a way universally considered to be good and moral.

Consumer Empowerment: The trend in consumer behavior visible in their independence and determination to actively participate in co-creating value with companies and service providers.

Corporate Social Responsibility: The belief that apart from generating profits companies should contribute to the society by performing socially important activities to benefit the society as a whole and its certain groups.

Generations: Groups coexisting in the society, born at different times and showing specific features.

Trust: The confidence in a person or organisation based on a belief that they act in compliance with moral standards and will behave in an expected way, according to certain, established rules.

Values: The set of believes and attitudes that each individual has.

Sharing Economy: The economy based on sharing goods rather than owning them, also called access economy to emphasize that consumers need to use products, which is possible without possessing them.

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