Maybank Social Responsibility Essay

Businesses, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social

Since 1998, Bank of America has become one of the most successful financial institutions in the industry. With the mission to “make financial lives better, through the power of every connection”, Bank of America has operated its business align with its purpose. While assisting its clients understand their money, the company also put on a lot of effort on helping the communities by executing Corporate Social Responsibility (CSR). It is undeniable that the company has successfully addressed many critical problems in the environmental, social and economics arenas, as it continually receive awards and recognitions for its CSR efforts.

The ethical issues presented in this case are the different views that each individual has on how the idea of corporate social responsibility (CSR). This dispute is between Mr. Milton Friedman, John Mackey, and T.J. Rodgers; all of which has a different outlook on CSR. The definition of CSR refers to the responsibilities that business has to the society in which it operates and to those actions that a business can be held accountable. Most philosophers have come up with three different types of responsibilities that corporations can be held accountable for. The first and most important of the three is a corporation’s duty to not cause harm. If a corporation can

In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many

When a stakeholder visits JPMorgan’s website market or nonmarket, they will find a section dedicated to corporate social responsibility. Most companies provide easy access to this information along with an annual report on their initiatives that year and how they plan to maintain and even further their social responsibility in the next years. In the CSR section companies typically provide us with a short opening statement about their mission in social responsibility at JPMorgan it is the following “At JPMorgan Chase & Co., corporate responsibility always has been central to how we do business, starting with operating with integrity in all we do and extending to all the ways we help our clients and communities navigate a complex global economy. We strive to develop innovative programs that leverage the core strengths, capabilities and expertise of our business and our people – and those of our partners – to maximize our impact. JPMorgan Chase is profoundly optimistic about how much can be accomplished when people come together to do extraordinary things.” From that statement alone one would be led to believe that they are a

“Studies analysing the bottom-line value of CSR have demonstrated that it adds substantial economic and social returns to businesses when it is carefully thought out, executed, and periodically evaluated as part of a holistic institutional policy” (Deegan, 2002; Hummels and Timme, 2004). The bank should also invest in social responsible activities to differentiate it, which can help in emphasizing Jyske’s values and differences and encouraging ethical behaviour amongst its stakeholders. These activities might seem subtle, but they have proven to be forceful signals that improve the brand image and communicate goodwill to customers. They also influence perceptions of the service quality and affects loyalty

Last few decades, Corporate Social Responsibility became more visible and every company is using it as a marketing tool. With strong commitment to Corporate Social Responsibility, Dannon need to communicate its Corporate Social Responsibility activates toward environment, people and nutrition and health benefit to its customers and stakeholders. According to Schiefelbein (2012), proper communication strategy is needed to effectively influence customers to balance threats and opportunities. -- To design a Corporate Social Responsibility communication strategy for Dannon to its customers, we need details of Dannon products, implicit knowledge of its operation and the customer base.

The University of Miami case was one of the biggest financial scandals in the past year. Former UM Football Booster, Nevin Shapiro, orchestrated a $930 million Ponzi scheme, with which numerous NCAA rules were violated. Shapiro allegedly provided cash, goods, prostitutes, assorted favors and on one occasion, an abortion to University of Miami football players. This paper will examine the various legal and ethical implications involved in this case, including an analysis of the university’s social responsibility, and an overview of the scandal in terms of three ethical theories: utilitarianism, Kant’s

Company Q is a small grocery store chain who has struggled to maintain social responsibility. The company decided to close down two of their stores which were operating at a loss due to being located in high crime areas. In the existing stores, Company Q has answered to the demands of their customers by offering a limited amount of health-conscious and organic products, but has declined to help out the community by throwing out day-old foods instead of donating them to the local food bank. The decision to throw out the day-old foods was brought on by lost revenue due to possible employee theft and fraud.

Oxfam International was established in 1942 in Oxford England and started out as a fundraiser for giving food to children in Greece during World War II. “As stated by the World Bank, there are about 702 million people in the world that are in severe poverty and live on $1.90 a day.” For the individuals who live in these situations it is hard for them to get food and shelter. (Singer, 2017) Oxfam is a “private fund organization” that gives help and aid to the poor and the communities that are struck with disastrous situations. It provides assistance and gives support to issues that includes agriculture, gender equality, responding to emergencies and individuals “minority rights” (Singer, 2017). Oxfam international has “developmental programs” (Oxfam International, 2017) that help with vulnerable populations. It gives health and education services for everyone and acts against “climate change”

Do you agree or disagree with the following quotation: “There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say engages in free and open competition, without deception and fraud.” Milton Friedman, a Nobel Prize winning economist. In other words, the social responsibility of business is to make a profit.

At the beginning of this course I wasn’t sure what was meant by social responsibility and civic engagement. During this course I realized the meaning of both and the responsibilities that both imply. A definition of social responsibility that I found particularly poignant and concise comes from Entrepreneur Magazine, “Acting with concern and sensitivity, aware of the impact of your actions on others, particularly the disadvantaged” (Entrepreneur Magazine.com). Social responsibility can be as simple as paying your taxes or recycling your glass bottles. Social responsibility can be as complex as finding solutions to global warming or hunger in Africa. You can be personally socially responsible or you can be socially

Corporate Social Responsibility (CSR, also called corporate responsibility, corporate citizenship and responsible business) is a concept whereby organizations consider the interests of society by taking

Organizations realize that it is important to attract highly skilled and qualified employees, because these employees are a necessary component of the competitive advantage that organizations want to achieve (Greening & Turban, 2000). Corporate Social Responsible actions of an organization can be a manner to attract highly skilled and qualified employees, because prior research assumes that organization’s CSR activities comprise a legitimate and compelling way to attract them (Bhattacharya et al., 2008).

Social responsibility and ethics are a part of the rules and regulations that an organization must comply with in order to meet the moral standards. It is best to observe the standards of ethic and social responsibility in any type of management. An organization normally has policies already put in place that both the employee and proprietor has to follow. There is a procedure that is laid out from step one to the final step that will keep all involve safe and secure from any mishaps. Management policies and procedures are practiced and viewed a number of times in an organization so that all participants are up to date and well aware of the latest changes in the policies and procedure manual. Policies and Procedures must be followed in any organization so that it will protect the workers and the public.