Globalization and Corporate Social Responsibility

780 Words Jul 17th, 2018 4 Pages
Globalization and Corporate Social Responsibility

Events in resent history have made a clear statement to the executives of the world that Globalization and Corporate Social Responsibility (CSR) are tightly linked in projecting a positive brand image. Most of the negative publicity surrounding the globalization debate is directed at one key area, the perceived lack of corporate social responsibility in the business culture of the developed world. The European Commission defines Corporate Social Responsibility as, “a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis."(European) As the heat is turned up on firms,
…show more content…
The overwhelming facts point to a shady underworld of self-dealing and opportunistic exploitation of the poor and working class, which was until recently, well hidden from the commoner. The executives of WorldCom and Enron provide real world examples of unethical business practices, where the desire to make money for their shareholders transcended into an addiction to greed and self-dealing that were displayed by their, “excessive pay, perks, and golden parachutes”(Carson 392) at the expense of all stakeholders. All is not lost, there are corporations that pride themselves in their sound business model and commitment to ethical business practices. Such companies as Eaton Corporation, and Weyerhaeuser, who according to Ethisphere.com, a business ethics watchdog, are among the “2010 World`s most ethical companies.” (Ethisphere)

Substandard working conditions in the less developed world are usually described as terrible places where employees are subjected to both mental and physical abuse, near impossible quotas, long hours, extremely low wages, and unsafe working conditions compared to western standards. All of this within an uninhabitable environment that corporations knowingly force the world’s impoverished people to submit to. Through pure ignorance, complete disregard, or lack of moral direction, many corporations have taken the concept of
Open Document