MNN3701 Module slides

Abstractly, Global corporations have a key role to play in issues ranging from human rights to environmental policies. Specifically, corporations can be most effective in helping the poor by investing in local and global communities on a long-term basis rather than by acting as charities or aid agencies. However, to do so, corporations must restore the public 's trust. They must demonstrate that their presence, particularly in poorer countries and the emerging market economies, is a source of human progress. They must demonstrate that globalisation is not a zero-sum game in which the rich get richer and the poor get poorer. In this regard, those who argue against globalisation are denying 1.5 billion people, who live in absolute poverty, the means of escape. To do nothing is morally unacceptable. The world is watching the corporate sector. This is a moment of great challenge, but also of great opportunity because if corporations can demonstrate that they are agents of progress, they can remove the doubts and renew the trust that is essential for both prosperity and security.

Because corporations are established to profit and shareholders invest money with expectations of a greater return, managers cannot be given a directive to be “socially responsible” without providing specific criteria of checks and balances to which needs to adhere. Therefore, it is imperative to the success of a corporation for managers to not act solely but rather to act within the policies of the shareholders.

Corporate citizenship is commonly defined as ?a company's management of its influences on and relationships with the rest of society? (Marsden 2000: 9). A recent study conducted by Hill and Knowlton found that 79% of Americans consider corporate citizenship when deciding to buy a particular company?s product, 36% of which considered corporate citizenship to be an important factor (Verschoor, 2001: 20). This shows us that by achieving good corporate citizenship, a company?s practices become transparent to the interested public and provide a basis for accountability for the future (Waddock, 2000: 324).

Good company citizenship goes beyond simply meeting the letter of the law. A socially responsible company should be aware of the effects its decision-making has on the community around it. This is illustrated in part “A” of the unanimously adopted policies of the Economic and Social Commission for Asia and the Pacific (ESCAP) Virtual

A. Setup: The setup phase takes input a security parameter . It selects a bilinear group of prime order p with b as generator, and bilinear map The universe attribute is . It selects for attribute n, , and a random exponent . The public key and master key is given by

Good company citizenship goes beyond simply meeting the letter of the law. A socially responsible company should be aware of the effects its decision-making has on the community around it. This is illustrated in part “A” of the unanimously adopted policies of the Economic and Social Commission for Asia and the Pacific (ESCAP) Virtual

In business, Anne Lawrence and James Weber (2014) identify enlightened self-interest as a corporation’s recognition that using corporate resource to serve others, including customers, employees, and the community as a whole, is in the best interest of the company. This social responsibility enhances the company’s image within the community, which increases both customer loyalty and satisfaction of employees. Some of the ways that businesses serve others is through philanthropy and backing environmental sustainability. Within his lecture on ethics and corporate responsibility, Dr. Kahlib Fischer (n.d.) encourages the importance of corporate social responsibility (CSR) in that it provides mutual benefit to both the organization and the community.

Petrenko. A. Corporate social responsibility [Power Point Slides]. Retrieved from Lecture Notes Online Web site: https://moodle.yorku.ca/moodle/course/view.php?id=39261

Sustainable development is defined as “Development that meets the needs of the present generations without compromising the ability of future generations to meet their own needs” (IISD, par. 1 ).

Economic –“an economically sustainable system must be able to produce goods and services on a continuing basis, to maintain manageable levels of government and external debt, and to avoid extreme sectoral imbalances which damage agricultural or industrial production.” (Harris, 2000: 7)

According to Gordon Brown, Chancellor of the Exchequer, the modern day corporate social responsibility goes far beyond the old philanthropy of the past that is donating money to good causes at the end of the financial year and is instead an all year round responsibility that companies accept for the environment around them, for the best working practices, for their engagement in their local communities and for their recognition that brand names depend not only on quality, price and uniqueness but on how, cumulatively, they interact with companies’ workforce, community and environment. It is necessary to move towards a challenging measure of corporate responsibility, where judgment results are not just by the input

Milton Friedman was an American economist, statistician and writer, who had a massive impact on the research agenda of the economics profession. His famous words “the only responsibility of business is to increase its profits” (Friedman, Milton. 1970) led to many controversial debates on whether businesses should have ethics or if profit should be their main goal. Corporate social responsibility has many definitions, as its interpretation is quite loose, so I have chosen one that relates the most to this essay, given by the World Business Council for Sustainable Development, in 2000: “Corporate social

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

Blowfield, M. and Murray, A. (2011) ‘Introducing corporate responsibility’, (2nd edition) corporate responsibility. Oxford: Oxford university press, pp.3-25

Intro: This report will aim to define responsible business, in relation to the vast range of topics such as Corporate social Responsibility/Corporate Citizenship, sustainability, whilst comparing these through academia and their different meanings relating to Responsible Business. Furthermore, this report will also aim to critically analyse climate change and its effect in relation to making Business more responsible as well as the drawbacks/opportunities this holds for business. Finally, this report will exploit the relation between government and Business; identify possible barriers for businesses through government via academic views and evidential impacts on businesses and how government supports business to create a more sustainable world, through incentives such as the climate change Act 2008.