Discussion 1: What is meant by people, planet, profit? Why are ethics and values important? What is the difference between ethics and social responsibility?

According to Ni, & Van Wart(2015), people, planet and profit simply mean the corporate social responsibility that organizations are mandated to practice. The triple bottom line in the current corporate world has become the modus operandi for organizations. The companies try to establish systems which are able to benefit the people in their communities thus benefiting the planet in the long run while the organization also makes profits. For example, the company employ`s people then take part in community based activities of environmental conservation for instance hence benefiting both the local people through employments and the planet through clean environment.

Ethics and values are important since values are the parameters that people use to judge what is the right and wrong things while ethics is the actual compliance to such values. As such, ethics and values help give best practices within an organization like adherence to the code of conduct and all regulatory requirements. Ethics is the compliance with values that are established by an organization and such values could code of conduct or regulatory requirements and procedures. Social responsibility on the other hand is the responsibly to do good to benefit humanity and the planet as a whole(Ni,& Van Wart, 2015).

References

Ni, A., & Van Wart, M. (2015). Corporate Social Responsibility: Doing Well and Doing Good. In Building Business-Government Relations (pp. 175-196). Routledge.