Corporate Social Responsibility - 1904 Words

Corporate Social Responsibility The different aspects of corporate social responsibility (CSR) have been the topic of considerable debate since the last decades of the twentieth century. Main factor for the increased interest on the part of stakeholders in this topic are the increased public awareness and interest in the corporate social responsibility following the Information Revolution. This essay will assess the dangers and benefits of the business ethics for most of the stakeholders – employees, organizations, society, shareholders and the environment. It will also explore specific examples of corporate social responsibility in different large corporations and will make a comparison between two large companies’ ethical policies. The†¦show more content†¦The view that one can violate the â€Å"unwritten law†, or ethics, is wrong because the market tendencies are for an increase in the â€Å"punishment† in the terms of lower sales. In my opinion the fourth objection, the agen cy arguments, is the most significant of all the objections to business ethics stated above. According to that theory the market is â€Å"the key arbitrator† and it should be determining what the corporate social responsibility of the company needs to be. This is also a very flexible method to deliver the welfares the society wants. For example if a person wants to influence the government policy concerning the preservation of environment, she needs to wait for another four or even five years and vote for a party, which offers such policy. Instead, by buying a certain product of a company that promotes the wanted policy, the person could â€Å"cast his vote†. Boddy (2008) distinguishes four criteria of corporate social performance: economic, legal, ethical and discretionary. The economic responsibility is predominantly concerned with the short-run shareholders’ interests. This means that the company is not concerned with problems of many of the other stakeholders. A classical example for the damaged interests of employees is the outsourcing: In October 2010 the Italian automobile giant FIAT announced that because of the reduced profitability of their factories in Italia, the companyShow MoreRelatedCorporate Social Responsibility : Corporate Responsibility773 Words   |  4 PagesCorporate social responsibility may also be referred to as corporate citizenship and can involve spending finances that do not directly benefit the company but rather advocate positive social and environmental change. The soul in the next economy forum presentation made it evident that achieving corporate social responsibly in a company can reap major bene fits in terms of finances, more inspiring workplace and customer satisfaction. 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Associations that are near to social obligation issues got toRead MoreCorporate Social Responsibility : Corporate Responsibility2818 Words   |  12 PagesFor the past years, corporate social responsibility also referred, as corporate conscience has been a respected subject for discussion. Corporate social responsibility, unquestionably, contains more viewpoint than simply worried about the ecological impacts of associations. It came in people groups mind at the later 1880, time of essential modern advancement that associations ought to think about the thou ght of social obligation. Associations that are near to social obligation issues got to be worryRead MoreCorporate Responsibility And Corporate Social Responsibility Essay1867 Words   |  8 PagesStevan Jakovljevic Professor Laud MGT 3550 Values, Ethics and Sustainability 10/18/16 Chapter 3: Define corporate responsibility (CSR). Describe the benefits. 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