An Understanding Of Corporate Social Responsibility

1343 WordsMay 25, 20166 Pages
Introduction The aim of this report is to establish an understanding of Corporate Social Responsibility (CSR), Sustainability, Ethics and their applied application by a multinational corporation (MNC) like Walmart. This report is based on the case study ‘Walmart: Love, Earth®’ which identifies key points which are the criticism faced by the multinational corporation (MNC), business practices that are/were unethical and which ethical theories did/ do they violate and why do MNCs like Walmart address their social and environmental impacts. The case study is very important as it outlines the way the MNC works and the different types of violations breached by Walmart like poor treatment of work shop employees and also the good deeds MNCs do…show more content…
The purpose of CSR is to drive change towards sustainability. There are many definitions of sustainable development, including this landmark one which first appeared in 1987:"Development that meets the needs of the present without compromising the ability of future generations to meet their own needs."— from the World Commission on Environment and Development’s (the Brundtland Commission) report Our Common Future (Oxford: Oxford University Press, 1987). Sustainable development is growth that encounters the requirements of the present without conceding the capability of future generations to meet their own requirements. It covers two key notions; the idea of requirements, in specific the vital requirements of the world 's poor, to which overriding importance must be given; and the idea of restrictions enforced by the state of technology and social organization on the ecosystem 's capability to meet current and upcoming requirements. Question 2: Why did Walmart face criticism for its business practices? What other MNC recently face criticism for its social responsibility and sustainability efforts? And why? Walmart faced criticism firstly, for its impact on the communities that it entered. Secondly, Walmart’s labor practices, they required, had to improve. Workers must be permitted to unionize, earn better wages,
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