Select an industry of your choice and describe how ethical behavior and social responsibility could benefit such an industry.

Expert Answers

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The industries that will be helped most by ethical behavior and corporate responsibility are those which cater to higher-income people.  These industries can benefit because their clientele like to be socially responsible and can afford to pay higher prices for goods made in ethical ways.

Perhaps the best example of this comes from the high-end food industry.  For example, Whole Foods is very concerned with making sure that it sells only those foods that are produced in ethical ways.  It benefits from this because it can attract socially-conscious consumers.  If it were to move away from such foods, it would lose a lot of its customer base.

At this point, corporate social responsibility and ethics tend to increase the costs of products.  Therefore, they are most beneficial to industries that cater to richer customers.

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