The importance of corporate responsibility is the most important part of a business as this

relates to how business is done. Mainly ethics and transparency are the most important part.

When a company can set its moral code and ethics it is one thing but, when a company can stick

to them even in this everchanging world it puts them on top. Transparency is important to the

consumer and employees as most people have questions now and want to know where the

product is coming from, is it organic if applicable, and how does it impact the environment

which has been degrading rapidly due to bad business practices. These two things are just some

of the important parts of corporate responsibility and if a company can do at least these two

things it will find success.

Ethics can determine the success of a business as they set the moral code for which things

are done. If a company can set a strong set of ethics that allows them to create an identity in their

respective field they can find success for example in the Theo Chocolate video they have a

strong set of ethics that allows them to set themselves apart from competitors as they are

dedicated to farming their chocolate sustainably and paying their farmers a fair wage, unlike

other competitors. The identity that is created from the code of ethics they make also brings a fan

base as people will respect the ethics that business follows. For example, many would be much

more likely to buy things from Theo Chocolate as a result of their ethics. That is because their

ethics code is similar to mine as I want the environment to not be harmed further and I like when

people are treated fairly in the workplace.

Transparency and ethics go hand in hand, the ability to say you are doing something

sustainably, for example, is one thing but, the ability to show that you actually are is a separate

being entirely. Theo Chocolate is a great example of transparency as they have proof of not lying

about their ethics as they show everything at all levels of their company. When a company can
show that they actually do what they set out to do in a manner that follows their ethics that brings

in even more business to them as a result.

In our world today, that is everchanging and evolving and with people who follow their

own code of ethics and a world with new technology that can make companies turn back on what

they set out to do in the first place staying true to the code of ethics you originally set out with is

paramount to success. When a company can stay true to their ethics even though they do not

have to, and lie about sticking to them, is what separates great companies from each other.

When a company can create this identity that comes with being transparent about their ethics the

fan base that comes with it is what also makes great companies stand out among competitors.
 References

Chapter 04: On The Job: Theo Chocolate: Managing Ethics and Social Responsibility. MindTap
- Cengage Learning. (n.d.). Retrieved March 23, 2022, from
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Mili, Mehdi, Sami Gharbi, and Frédéric Teulon. “Business Ethics, Company Value and
Ownership Structure.” Journal of management and governance 23.4 (2019): 973–987.
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