Question

Why responsibility to its stakeholders is the fundamental principle of business ethics and CSR.

17 Apr 2025
Answer :
Word Count : 488
The responsibility of a business to its stakeholders is a central principle of business ethics and corporate social responsibility (CSR) because it forms the foundation of trust, sustainability, and long-term success. Stakeholders include a broad range of groups and individuals such as employees, customers, suppliers, investors, communities, and even the environment. Acknowledging and addressing the interests of these stakeholders is essential because businesses do not operate in isolation; their actions affect and are affected by multiple parties, making ethical conduct not only a moral obligation but also a practical necessity. From an ethical perspective, businesses have a ___ _________ _________ __________ ________.
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