difference b/w responsibilities and ethics

Hey Priya,

I think you might be asking about the difference between the social responsibility and business ethics. â€‹Social responsibility refers to the duties and responsibilities of business enterprises towards society and its members. It implies the obligation on an enterprise to conduct activities that are favourable from the viewpoint of society. As any business makes use of society’s resources in the form of human and physical capital, it becomes the moral duty and responsibility of the businesspersons to work for the betterment of society. On the other hand, â€‹business ethics refers to the set of moral values or standards or norms which govern the activities of a businessman. Ethics define what is right and what is wrong. It involves critical analysis of human acts to determine whether these are right or wrong.

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