Triangle of economics, ethics, and corporate social responsibility: the OPET case

Abstract

The relations between the subjects of economics, ethics, and corporate social responsibility, under the changing conditions of socio-economic developments, have been started to reconsider and to be discussed. Globalization, cruel competitive environment increasing role of the multinational corporations, changes in production models, new management techniques, structural changes in organizations, widespread development and growth, IT technologies, inequalities in income distribution, and poverty have led to an increase in expectations and needs from the corporations to move in a socially responsible way. In this context, it's possible to talk about a circulation which occurs from macro scale to micro scale or vice versa. The science of economics, ethics, and corporate social responsibility are three important elements of this circulation. Although in the process of application, corporate social responsibility has been considered as a cost element at first step, it provides a huge profit based feedback to the corporation together with its social positive externalities. In this context, corporates should not limit their aims 10 just an income provider to shareholders, a wage sources to employees, and a provider product and services 10 consumers in addition to their traditional roles. In this context, modern corporations, in addition to their economic roles, they encounter structures which have a conscious on the responsibilities against environment and society. The aim of this study is 10 stress the connection between historical change in the science of economics which has been considered as a sub-discipline of ethics and corporate social responsibility with a special emphasis on OPET case in Turkey.