Businesses, however, exist in a society. Businesses are citizens in that society and have a responsibility to society. Businesses, therefore, must have a corporate social responsibility to operate sustainably in the society where the businesses belong. Business operations can harm society even with the benefits that businesses provide. The point of adhering to corporate social responsibility is either to minimize or eliminate the possible harms of business to society while seeing to it that services and satisfying the needs of the customers remain its primary objectives even as it must earn profits to operate sustainably. At the same time, adhering to social responsibility is not all costs. Through adherence to corporate social responsibility, businesses earn goodwill and goodwill allows businesses to operate in a sustainable way and earn revenues and profits for its employees and stockholders. Society benefits as well with the continued growth of businesses.Ethics refers to the moral principles or values that generally govern the conduct of an individual or a group (Lamb and others, 69). According to Lamb and others, the exercise of corporate social responsibility and ethics go hand in hand. It can also be said the ethics are a cultural vehicle for corporate social responsibility to be aspired and fulfilled in the operation of a business corporation. Ethics cover our notions of what is right and wrong. Ethics govern what marketing methods and techniques are executable and what is not or what must not be executed. Ethics guide the marketing approaches that are allowable in our marketing activities. Without ethics, a business company is not managed at all because there is not a set of rules governing what is appropriate and inappropriate in our marketing conduct.
Key Ethical Issues in Marketing to Children