Ethics are individual beliefs regarding what is bad and good or wrong and right. In the workplace, ethics usually has an effect on individual behavior. Social responsibility is the way that a business strives to balance the commit that it has to persons and groups in its social environment. The approaches to social responsibility and ethics include; the proactive stance, the accommodative stance, the obstructionist stance and the defensive stance (Giacalone & Thompson, 2006). There are various pricing strategies which businesses adopt so as to increase profits and customers. This paper will discuss the approaches to social responsibility and ethics, ...
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