Corporate social responsibility (CSR) involves going beyond the interests of the company and the requirements of the law to contribute to the development of a sustainable environment and a better society (McWilliams and Siegel, 2001). Yet Vogel (2005) argues that regulation is necessary to ensure that companies comply with a CSR standard. Unethical practices create negative images of organizations, including adopting CSR; profitability can be increased through the positive image that the company creates (Pava and Kraus, 1997). While Friedman (1970) argues that corporations are responsible for obtaining funds from their shareholders in a profitable and legal manner, and therefore do not engage in corporate philanthropy. Friedman's view is a self-serving one, which is about acting to promote the greatest impact for the company rather than taking a utilitarian approach focused on achieving the greatest good for the majority (Beauchamp and Bowie, 2004). Organizational performance is evaluated on three factors: economic prosperity, social justice and environmental quality (Elkington, 1997), emphasizing the importance for companies to adopt an ethical stance in the modern business world. This assignment will address the role that ethics and CSR play in organizations by applying case studies to examine whether companies adopt CSR to improve their reputation and competitive advantage or for their social and environmental impact. The role of regulation in CSR will be studied due to corporate scandals and environmental disasters that raise concerns about the ethical perspective of businesses. Companies should integrate CSR into their core values. McElhaney (2009) highlights the importance of committees that oversee practices, ensure their implementation and management...... middle of paper ...... however, there are companies for which CSR is important to them, which is reflected in their ethical position and their business conduct. The role of regulation should serve as a benchmark for businesses to ensure that a standard level of CSR is achieved in order to improve and maintain the environment and improve society. Through regulation, companies should adhere to the law, thereby minimizing the problem of companies adopting CSR only to gain reputation and profitability. Many companies adopt CSR with the aim of improving society; However, a few companies use CSR as an effort to appear ethical and align their strategies with the needs of stakeholders. However, even though regulation would be beneficial, some companies would still seek to minimize money invested in CSR, due to their profit-driven goals and selfish ethical stance..