European Union expects from every member state to initiate standards in accordance with business operations with long-term, sustainable business development. Application of socially responsible business operations is getting increasingly popular and it has become standard practice in developed parts of the world, primarily because it has been shown that everyone is achieving benefits from these practices. According to that, the year 2005 was named the European year of social responsibility. In Europe and in the world in general, there is a growing number of companies which are promoting their strategy of social business as an answer to various social and economic pressures. In today’s global economy, based on knowledge, socially responsible business shaped itself as an important economic concept with important implications for different interest – influential groups (Stakeholders) and it has become one of strategically fundamental components of any given company. Social responsibility is one of the best ways of keeping and attracting quality workforce, especially professional, creative and highly educated individuals, who are introducing innovation and representing one of the preconditions for company’s long-term survival and competitiveness in the market. Nowadays, conduct of sustainable work ethics in companies is one of the preconditions of successful business. Running an ethical business means that you are also implementing ethical business practices amongst the employees, buyers, suppliers and the general community by following certain norms and regulations. The main goal of business ethics is coordination and realization of the operation of business organization according to subjective and objective interests of the owner, clients, participant of the organization and all other stakeholders.