Corporate, Social Responsibility And Business Ethics

More recent papers like “Strategic corporate social responsibility management for competitive advantage” by Milton de Sousa Filho, et al. suggest also attraction of valuable employees as a source of competitive advantage apart from enhancement of company’s image and reputation.

Many believe that business entities should have an ethical duty to be socially responsible, to work towards increasing its positive effects on society while decreasing its negative effects. Many organizations look for opportunities to be socially responsible while also creating shareholder wealth.

Once a business realizes that it has gotten wrapped up in maximizing profit that it neglect ethics of care, the next step is to readjust and realign its core values internally and be more responsible to the environment in which they operate by showing societal care. Therefore, the aim of this report is to address the importance of realigning the business with ethics of care through involving in CSR activities, and as well as showing how these actions can impact on a company’s performance even if it may be demoralized in the society.

Corporate Social Responsibility (CSR) is something that affects all companies and should be an active factor in the company’s decision making. It is something all corporations need to care about. CSR is when business’ or corporations take part in an initiative or campaign for a cause that will benefit society and/or in some way make the world a better place (Taylor, 2015). Initially, Corporate Social Responsibility started to take shape around the 1950’s, but some say that it dates all the way back to the 1800s, the idea of CSR was seen (Carroll, 2007). One may think that because it is dated so long ago, it doesn’t have an important impact today nevertheless, it is proven that Corporate Social Responsibility is a pathway for entities to self benefit as they are in the process of benefitting society.

Furthermore, there are several reasons why CSR is critical to modern business such as attracting and retaining employees, attracting socially responsible companies and reducing business costs. To start with attracting and retaining employees, it stimulates workers to increase commitments and productivities. Employees would feel meaningful by working for ethical company. In the second place, it helps to attract socially

Sexual orientation discrimination includes being treated differently or harassed because of your real or apparent sexual orientation -- whether gay, lesbian, bisexual, or heterosexual. This type of discrimination may be illegal in your workplace, depending on where you work. This is not a personal problem that should be handled among themselves. As an Equal Employment Opportunity company, the company should ensure that guidelines are given and followed to prevent this type of sexual harassment and discrimination. If the company permits the posting of these types of pictures then the problem will never be solved. Robinson should not have to argue with her peers because she feels she has

It is not the financial gain that rates the business success rather; it is the impact they leave on society. Implementing CSR is one of the most debated topics in the business world. Because there is no written or documented law in the business industry that states the need of CSR within the business structure, CSR is not an official requirement that must be attended. Yet, CSR practices are key to growth in the industry. Still, some businesses are not aware of the responsibility they have. As a result, the text I chose addresses the shortage of CSR practices. Hundreds of attempts were and are still being made to recover from the impacts of ignoring CSR. One attempt that the text makes is emphasizing the idea of starting simple and local changes to reach global sustainability. There are three interconnected parts of society where CSR is expected to be implemented. These parts are community involvement, environmental sustainability and ethical marketing. It is easy to notice how every person in a society is involved and holds a specific role in these parts. Community involvement means giving back to the community and its people, like building schools, charitable donations and supporting local issues. Environmental sustainability is about making the earth

Utilitarian Theories and Kant’s Categorical Imperatives can be seen in the concept of Corporate Social Responsibility (CSR) (Arnold, Beauchamp, & Bowie, 2013). CSR concepts are a result of governmental regulations, a business desire to increase brand equity, a business desire to increase customer equity, to be ethically responsible, and to attract talent (employees). Other than fines imposed for violating federal laws, there are other factors that influence change within the business community. Many studies conducted show a correlation of profitability with a company’s that demonstrate ethical and social responsibility (Scarborough & Cornwall, 2013). Business entities demonstrate CSR to their employees, the environment, investors, and to customers.

In recent years, increasing number of customers and businessmen start to concern about the ethical issues in businesses. Although the main purpose of business is to make profits, the social influence of it also appears to be focused by a large proportion of customers and businessmen. Corporate social responsibility (CSR), which is closely connected with this concentration, was put forward in 1953 with the meaning of interacting social, environmental, and economic considerations into the decision-making structures and processes of business (Industry Canada, 2013). Although criticized, there is a business case for CSR because it could enhance customers’ loyalty, improve

ITC Ltd has worked exremly hard to start several procedures that have led to compliance of the standards of social responsibility. ITC’s dealings within the tobacco industry have contributed to the increase in company revenues and the company has worked towards following the triple bottom line and giving back to society. Most, businesses pay little attention to their social responsibilities and make it part of their overall strategy, instead they concentrate more on financial benefits from the sales of products. Consequently, managing business in a socially responsive manner contributes to the best combination of business success and societal acceptance, trust and loyalty. Giving back to the community in ways that benefits only society such as planting trees to curb pollution and help the environment or using biodegradable materials in packaging can reap financial benefits to a company by building loyalty among the community. The notion of business ethics and corporate social responsibility is becoming a defining concept in all industries worldwide. ITC believes in the Triple Bottom Line philosophy where the performance and perception of a corporation should not be judged only on the basis of its financial statements or revenues, but its environmental and social performance as well. ITC is one of the only companies in the world to be carbon positive, water positive, and conduct solid waste recycling. ITC provides water to areas where water is very

The purpose of this essay is to research the notion of CSR and uncover its true framework and outline what social responsibility truly means to corporate organisations, and whether it should be seriously considered to be a legitimate addition to the corporate framework of an organisation.

It is a viable alternative to apply CSR in Corporate and management strategies to outclass competing companies. An organization by carrying out its ethical principles and convictions in their activities and propagating them via organizational network influences the relationship with shareholders, clients and employees. The application of CSR can lead to social benefits and legitimacy for the firm since it can consider itself as a coalition in which the different stakeholders participate to gain their own benefit. (Freeman, 1984).

Corporate Social Responsibility (CSR) is defined by Carroll as being split into four possibilities,”it is economically profitable, law abiding, ethical and Philanthropic” (Visser. W, 2005). Economic responsibilities is defined as being for profit purposes, managers focus is purely on the outcome of the business and the shareholders, there is

‘Corporate social responsibility’ (CSR) means that the firm has wider responsibilities in relation to objectives and people apart from the owners or shareholders (Beal and Goyen 2005). These responsibilities are achieved when the firm adapts all of its practices to ensure that it operates in ways that meet, or exceed, the ethical, legal, commercial and public expectations that society has of business. Objectives often associated with CSR include a responsibility to manage natural assets sustainably and not to pollute by chemical discharge, smell, noise, dust or other irritants; fair treatment of employees and ethical attitude towards clients. The other people include employees, customers, suppliers,

The following sections present a broad evaluation of the history and progress of CSR practices. Additionally, it provides a, in-depth review at the predominant theories behind globalisation, the need for sustainable development, stakeholder progression, various critics and methods to overpower them. A consideration is also given for the implementations of codes of conduct, the role of MNCs and weak government bodies and corporate performance.