Business & Society
The underlying principle here is that the economy, the market, and the business firm are surrounded and influenced by a society’s institutions, social values, and cultural traditions.  The task of managing a company cannot be separated from these societal forces which historically and culturally have shaped and dominated business operations.  However, since the rise of Western capitalism and free-market style economies, business firms have exerted a reciprocal influence on society, its institutions, and social values.  At the intersection where these two forces—Business and Society—meet, and where each attempts to influence the other, one discovers the major moral and ethical dilemmas associated with modern business practice. 

Corporate Social Responsibility (CSR) is the idea that business has social as well as economic responsibilities to the people and communities affected by its operations.  It is a simple but profound idea, one that places social and ethical obligations on business practitioners.

My views about CSR—how business is encapsulated in society—can be found in the books shown here:

Corporation, Be Good! The Story of Corporate Social Responsibility
William C. Frederick
(Indianapolis, IN: Dog Ear Publishing, Inc., 2006)

Business and Society: Corporate Strategy, Public Policy, Ethics
William C. Frederick & Coauthors
(New York: McGraw-Hill, 4th, 5th, 6th, 7th, 8th editions, 1980-1996)

Business Ethics: Research Issues and Empirical Studies
William C. Frederick & Lee E. Preston
(Greenwich, CN: JAI Press, 1990)

Research in Corporate Social Performance and Policy, Volume 9
William C. Frederick & Lee E. Preston
(Greenwich, CN:  JAI Press, 1987)

Social Auditing: Evaluating the Impact of Corporate Programs
David H. Blake, William C. Frederick, Mildred S. Myers
(New York: Praeger, 1976)