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Please explain the line below in easy words mentioned in notes in 1st paragraph of this topic
”But when it comes to ethics there is very little argument, and one does not have to appeal to a moral or ethical stance to see that companies should be ethical. An ethical stance can be justified on a purely economic basis.”
Also define ”appeal to morality or ethical stance”.Some people think that corporate social responsibility is definitely a good thing; others think that companies should concentrate on what they do well, such making desirable goods, making profits, paying taxes, providing sustained employment and complying with the law. Carrying out good works should be left to other people.
What the paragraph quoted above is saying is that although you might argue that a company should be ethical because that is the ‘right’ thing to do (an ethical or moral stand), it is not necessary to appeal to ‘rightness’ or ‘virtue’ to conclude that behaving ethically is the proper course of action for a company. Ethical behaviour can be justified using a purely commercial argument. Ethical companies are safer to invest in and will have more goodwill from the public. Unethical companies will incur large additional costs for fines and legal compensation. If they try to hide unethical behaviour they will probably be found out and public trust is destroyed.
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