Business Ethics And Corporate Responsibility - A New Perspective

Starting from the famous but controversial statement of Peter Drucker (1981) - "There is neither a separate ethics of business nor is one needed", this paper goes on to argue that business ethics and social responsibility are not unrelated. It shows how it is necessary to distinguish between business philosophy and philosophy of business. Through this distinction it develops a framework that relates the two - business ethics and CSR. It goes on to argue that there is a paradigm shift in the philosophy of business. This shift leads to a framework wherein a new perspective on business ethics and social responsibility emerges.