Corporate Social Responsibility And Corporate Ethics Essay

From a business ethics stance “corporate social responsibility” (Velazquez, 2007, pp. 23), refers to the social interest an organization manifest in the environment it operates. SoftMagic has not seized opportunities from corporate social responsibility. In the U.S., the use of pro-bono activities to develop networking is fundamental considering that multiple leaders of different firms participate and engage in activities that consequently offer an opportunity to market and increase the awareness of the organization. One more time, the cultural challenge seems to have affected the opportunities for SoftMagic.

Lastly, yet another drug company who may not have increased the price of their drug overnight, but over a few short years have made it difficult for patients to afford their life-saving medication as well. Another company that has been pulled in front of Congress to answer for their extreme increase of a lifesaving drug and that company is Mylan. There are many ethical issues surrounding this case with CEO Heather Bresch, her salary increases went hand in hand with the increased price of the EpiPen, not to mention how she acquired the position she holds with the company. In an Article written by Edward Cox (2016), he puts some of the unethical issues surrounding Heather Bresch into perspective, he stated:

Shared value is a business strategy which focuses on creating overall value while addressing social problems. This concept of management strategy was expressed in the “Creating Shared Value” article by Porter and Kramer. Shared value is not just an aspect of a company’s growth strategy or general business operations. It is well integrated in the way a company operates along with what their goals are as an organization. The value created for a company’s targeted end user also has some sort of social impact which benefits their company purpose. Creating social impact is a company goal and success is measured through creating a shared value network. Porter believes that “The ability to address social issues is integral to profit maximization instead of treated as outside the profit model.” He is addressing that profits are not measured by impact not just monetary gains for the company, we can change our mindset to think of profit in a different way. Profit can be a benefit or some sort of added value. In this approach Porter argues that “Corporate social responsibility encompasses not only what companies do with their profits, but also how they make them.” This relationship is the driving force for a company’s development and future growth, and it goes beyond corporate strategy it also incorporates investments and key stakeholders for each company. Quantifying a monetary figure and amount for social impact may be extremely difficult, however it has progressed with awareness and

doctors, would help with responsible leadership in business” (Archbishop of Wales calls for ethical business). It is probably the case that all businesses should sign the oath, this gives consumers to show that they are dedicated to being an ethical business. There are numerous of old businesses that can steer the new business in an unethical direction in this field. By adapting business ethic terms and look for examples in the business fields that have an ethical or unethical reputation, this will give the opportunity for the business leaders to steer their employees into a healthy environment for their business to go the right direction.

Business ethics and corporate social responsibility have become an increasing area of focus for organizations today. However, this has not always been the case in the American business environment. Chapter three "Conducting Business Ethically and Responsibly" (R.W. Griffin & R.J. Ebert, p.56 - p.87) concentrates on the development of ethical codes of conduct as it relates to business. The chapter also focuses on the social responsibility an organization holds in relation to everyday decision making. Ethics and social responsibility go hand in hand. Ethics affects individuals or groups within the workplace, whereas "social responsibility refers to the overall route in which a company decides to balance its involvement with employees, stake

Apple Company is one of the largest manufacturers of computers and electronics. “Apple Company was founded on April 1, 1976, by college dropouts Steve Jobs and Steve Wozniak, who brought forth a new company vision of changing the way people, viewed computers” (Library of Congress, 2008). The ethical and social responsibility of Apple Company should have started with its inception; however, it did not. It was not until years later with the advent of social media and the power of worldwide communications, did Apple Company focus on ethical and social responsibilities regarding the treatment of its employees in their factories overseas. The international reports of employee maltreatment; the use of underage employees; and, documented instances of wrongful disposals of toxic matter into the environment, forced Apple to take immediate action and establish safeguards which would protect its employees, the environment and more importantly the brand name that is Apple Company.

A combination of recent changed to the world scene and pressures from public opinion now requires corporations to take on a new role, social responsibility. Corporate social responsibility is a corporation’s initiative to monitor and ensure compliance with the law, ethical standards, and norms. It can also be defined as corporation’s actions that further social good and go beyond the interests of the firm in order to make the world a better place. Essentially a corporation should embrace the idea of corporate citizenship, the idea that businesses are socially responsible for meeting legal, as well as ethical and economic responsibilities placed on them by shareholders. Although this is an alluring concept, it is also a flawed one. It

Raymond James is a financial service holding company with subsidiaries specializing in investment banking, financial planning, investments, and asset management. The company was founded in 1962, has been public since 1983, and was founded in St. Petersburg, Florida. In June 2016, Raymond James joined the Fortune 500 list for the first time. This paper will address the corporate social responsibility and ethics of this financial institution (Raymond James).

In this week’s journal, the discussion focuses on corporate social responsibility and how companies like Citibank, N.A. are managing to navigate its organizational culture to fully embrace it. In addition, we will discuss potential right versus right as well as right versus wrong scenarios that could emerge under my leadership. I worked for ten years and have written about various aspects of the organization for several courses. Therefore, my knowledge of Citi’s performance and history continues to expand. Citi is quite adept at communicating its goals, vison and mission to its employees as well as clients. All of which are considered stakeholders.

This paper explores the importance of social responsibility within corporations. This paper also explores “The Social Responsibility of Business is to Increase its Profits” by Milton Friedman and his stance on social responsibility. Friedman believed that corporations should not waste money on new initiatives if it was just to appease the public, especially if it went above what laws required. Examples are shown how corporations must listen to the customer or it could hurt the profitability of the corporation, with social media being a big tool to press issues. Also discussed are laws that support socially responsible initiatives such as pollution reduction that direct and provide incentives for businesses.

Company Q and Social Responsibility Social responsibility is a key attribute for businesses in the market today. When consumers look to spend their disposable income, they look for businesses that not only offer the right product, at the right price, but that also offer great service. Great service can include anything from friendly employees to community involvement. That is where social responsibility becomes apparent in a company’s ethics and values. If a company has a strong tie to the community and demonstrates social responsibility, their consumers will consider this a positive quality and it will separate them from the competition. In this case study with Company Q, they are

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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