...CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY ➢ INTRODUCTION AND IDENTIFICATION The concept of corporate governance has attracted considerable attention, domestically and internationally, in recent years. Following a number of high profile corporate collapses, such as HIH insurance and One.Tel in Australia, and Enron and WorldCom in the United States (US), a number of regulatory changes aimed at improving corporate governance have been implemented. The corporate world is facing the notion of Corporate Social Responsibility (CSR) wherever it turns these days. On a wide range of issues corporations are encouraged to behave socially responsible. Why is corporate governance important? Corporate governance refers to the way that Boards oversee the running of a company by its managers, and how Board members are held accountable to shareowners and the company. This has implications for company behavior not only to shareowners but also to employees, customers, those financing the company, and other stakeholders, including the communities in which the business operates. Research shows that responsible management of environmental, social and governance issues creates a business ethos and environment that builds both a company’s integrity within society and the trust of its shareowners. ➢ What are the theoretical concepts? ➢ What are the ethical issues? ➢ What impact does globalisation have? Due to...
Words: 323 - Pages: 2
...GILL MACRO FINAL.DOC 5/8/2008 5:02:04 PM 452 Corporate Governance as Social Responsibility: A Research AgendaGILL MACRO FINAL.DOC 5/8/2008 5:02:04 PM 452 Corporate Governance as Social Responsibility: A Research Agenda By Amiram Gill∗ In the post-Enron years, corporate governance has shifted from its traditional focus on agency conflicts to address issues of ethics, accountability, transparency, and disclosure. Moreover, corporate social responsibility (CSR) has increasingly focused on corporate governance as a vehicle for incorporating social and environmental concerns into the business decision-making process, benefiting not only financial investors but also employees, consumers, and communities. Currently, corporate governance is being linked more and more with business practices and public policies that are stakeholder-friendly. This Article examines these developments and their impact on the formulation of a transnational body of legal norms by proceeding in three stages. First, the Article explores the recent transformations in the regulation of corporate governance and CSR and the shifts these two fields have experienced. Second, it reads these transformations as a convergence, taking place against the background of “New Governance” and encompassing both corporate self-regulation and efforts by social groups to make this regulation more effective (“metaregulation”). Third, the Article discusses the prospects and challenges of this convergence...
Words: 566 - Pages: 3
...“Good corporate Governance as a vital constituent of Corporate Social Responsibility” with reference to Indian MNCs Type: Literature review Name of Research Scholar: Santosh Basavaraj, Research Scholar, Anna University of Technology, Coimbatore. Research Supervisor: Dr.B.Rajasekaran, Principal, RKKR School of Management Studies Ettimanickampatty, Coimbatore Road, SALEM – 637 504 Contact Number & Email ID:997209785,santosh_bs2001@yahoo.com Purpose: This research paper aims at gaining an insight into the concepts of Corporate Governance and CSR which enables this researcher to generate new ideas on concepts under study. The central purpose of this research paper is to determine how companies Corporate Social Responsibility practices blended in Corporate Governance and to study integration of CSR with CG which enable future researchers to study how companies are able to sustain its Competitive edge with good CSR activities by considering some good practices followed in industry and their critical evaluations in recent events. This research sets the foundation for future study and refers literature to develop a new hypothesis in the concept of CSR. An additional objective of this research paper is to review the Literature on Corporate governance and studying the Juxtaposition of CG and ethical issues for better corporate social responsibility. Design/methodology/approach This is an exploratory research design and it is used to seek insight in general nature...
Words: 3787 - Pages: 16
...Analyze the arguments presented in the “Citizens United vs. Federal Election Commission” case to determine which arguments you find the most persuasive. Explain both your rationale and the probable impact of the outcome of this case on corporate governance moving forward. I = Issue (The Question) R = Rule of Law/Rationale A = Analysis/Discussion C = Conclusion/Court’s Decision Issue Should the government be able to suppress political speech on the basis of the speaker's corporate identity? Rule of Law The First Amendment states that Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances. Analysis Kennedy was against the issue. -- Speech is an essential mechanism of democracy, for it is the means to hold officials accountable to the people. The right of citizens to inquire, to hear, to speak, and to use information to reach consensus is a precondition to enlightened self-government and a necessary means to protect it all. The first amendment "has its fullest and most urgent application to speech uttered during a campaign for political office. For these reasons, political speech must prevail against laws that would suppress it (Halbert, Ingulli p.32). Scalia was in favor of the issue. -- The dissent says that when the Framers "constitutionalized...
Words: 362 - Pages: 2
...Chapter 2 Corporate Social Responsibility, Corporate Governance and Corporate Regulation 2.1 Introduction CSR is increasingly an essential issue for companies.1 It is a complex and multidimensional organisational phenomenon that is understood as the scope for which, and the ways in which, an organisation is consciously responsible for its actions and non-actions and their impact on its stakeholders. It represents not just a change to the commercial setting in which individual companies operates, but also a pragmatic response of a company to its consumers and society.2 It is increasingly being understood as a means by which companies may endeavour to achieve a balance between their efforts to generate profits and the societies that they impact in these efforts.3 This chapter discusses these issues. First, it describes CSR and its core principles. Second, it describes CG and narrates CG’s convergence with CSR. Third, it highlights how different economies are incorporating CSR notions in their corporate regulation. 1 Jeremy Moon and David Vogel, ‘Corporate Social Responsibility, Government, and Civil Society’ in Andrew Crane et al. (eds), Oxford Handbook of Corporate Social Responsibility (2008) 303; David Vogel, The Market for Virtue: The Potential and Limits of Corporate Social Responsibility (2005); Nada K Kakabadse, Cecile Rozuel and Linda Lee-Davies, ‘Corporate Social Responsibility and Stakeholder Approach: A Conceptual Review’ (2005) 1(4) International ...
Words: 16989 - Pages: 68
...In today’s world organizations are having trouble to maintain long term sustainability. Corporate Social Responsibility is most vital component which helps organizations to benefit themselves while also benefiting the society. CSR is an internal built in process by which organizations manage business process and make efficient use of the resources. It helps to balance the business in terms of economics and social goals. It monitors all business processes. Corporate Social Responsibility by definition, as given by Baker (2004) is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. In this essay I would like to discuss about various Corporate Social Responsibilities policies incorporated by Infosys Limited, India. Infosys is multinational provider of business consulting, technology, engineering, and outsourcing services. Corporate Governance and Shareholders Corporate governance is now focusing on creating a value for shareholder. The shareholders delegate decision making authority to the managers assuming that the managers will take actions which will best suite the shareholders interest. The core objective of corporate governance is to maintain long term relationship with shareholders. A good corporate governance is implemented to ensure: (i) independent and proactive board (ii) independent committee...
Words: 2267 - Pages: 10
...FUSION OF CORPORATE GOVERNANCE & CSR PRACTICES BUSINESS ETHICS AND CORPORATE GOVERNANCE Submitted to: Prof. I Sridhar Submitted by: Dhvani Shah (64689) FSB II TABLE OF CONTENTS TOPIC | Pg No. | Introduction | 3 | Concepts | 6 | Conceptual Discussion | 10 | Implementation of CG & CSR in corporate | 18 | CSR/CG framework | 21 | Bibliography | 30 | I. INTRODUCTION: CSR is concerned with the impacts that the activities of an organization have on the social, environmental and economic environment in which it operates. CG is concerned with the manner in which the senior management or Board of Directors direct, manage and control the organization and relate to shareholders. The concepts cannot be mutually exclusive but merge together, each offering a different yet complementary perspective on the activities of an organization, to form a robust strategic business management tool. The aim of the CSR and CG management system is to define, understand and improve the balance between entrepreneurship and ethical practice. Organizations must demonstrate this core organizational...
Words: 5250 - Pages: 21
...Strategic management, corporate responsibility and stakeholder management Integrating corporate responsibility principles and stakeholder approaches into mainstream strategy: a stakeholder-oriented and integrative strategic management framework Takis Katsoulakos and Yannis Katsoulacos Takis Katsoulakos is a Director at INLECOM Ltd, Burgess Hill, West Sussex, UK. Yannis Katsoulacos is a Professor at Athens University of Economics and Business, Athens, Greece. Abstract Purpose – The purpose of this article is to establish a strategic management framework that supports the integration of corporate social responsibility principles and stakeholder approaches into mainstream business strategy. Design/methodology/approach – A top-down and bottom-up approach was used to develop the proposed framework. The top-down approach focused on analyzing the main strategic management theories including social responsibility movements to identify complementary concepts and create a relevant topology. The bottom-up approach was based on empirical research on the views of business companies on corporate social responsibility, a review of best practices and case studies mainly in Greece. Findings – The paper describes a stakeholder-oriented integrative strategic management framework linking the main strategic management theories across value, responsiveness and responsibility dimensions. A mathematical model is presented describing the synergistic development of advantage-creating knowledge and...
Words: 7389 - Pages: 30
...The issue of corporate social responsibility has got a lot of attention in the business and political world since the early 1990’s and the major reason behind this was corporate scandals. Organizations had started to realize that the basis on which they were achieving economic growth was unsustainable and hence there was a need to develop a process which would intend at balancing economic growth with environmental sustainability and societal expectations. In fact the origin of corporate social responsibility can be found in the 1950s and 60s whereby successful companies were trying to link corporate social responsibility to the power that business holds in society. The theoretical progresses were subdivided in ethical and accountability and the stakeholder approach to strategic management. CSR can be distinguished from the three terms which are included in its designation phrase and these words are; ‘Corporate’, ‘social’ and ‘responsibility’. Hence CSR can be explained as being the responsibilities that a company undertakes for the society within which it carry out its operations. To be specific, CSR require a business to identify its stakeholders and include their needs and values in the tactical day to day decision making process of the company. Consequently the society within which a business function and which identify the number of stakeholder to which the organization owe a responsibility can be broad depending on the type industry within which it operate. The different...
Words: 2856 - Pages: 12
...the charity program organized by Ambank. This is part of Corporate Social Responsibility program hosted by Ambank that served 178 less fortunate children and senior citizens from six homes. The recipients aged between one and 17, and 50 to 80 were given a RM200 shopping voucher, ‘duit raya’, souvenirs, educational trip and dinner sponsored by Ambank. Senior general manager of Ambank also involved in this program and expressed how pleased they are to contribute to less fortunate society. Ambank are planning for more generous program like this throughout Malaysia in realizing its CSR’s initiatives in upholding development by focusing on reaching out the society in line with its effort to help community and contribute to the society. RELATE WITH CORPORATE GOVERNANCE Corporate Governance outlines the concept of Corporate Social Responsibility (CSR) in the chapter of Corporate Social Responsibility and Sustainability. CSR is about corporate entities acting as good corporate citizens. CSR has a range of meaning and one of the views is on Societal Perspective. This view holds that companies have responsibilities beyond just obeying the law and paying their taxes, because their activities have an overall impact on society. A commitment to CSR recognizes that companies should be accountable not only for their financial performance, but also for their impact on society. The definition used by Business for social Responsibility, a non-profit organization based in San Francisco is: ‘CSR...
Words: 632 - Pages: 3
...Journal of Public Administration and Governance ISSN 2161-7104 2012, Vol. 2, No. 1 Corporate Social Responsibility of Private Banks in Bangladesh: Expectations, Achievements and Challenges Md. Fouad Hossain Sarker Lecturer Faculty of Science & Information Technology Daffodil International University Dhaka-1207, Bangladesh Tel: +88 01554336014 Received: February 27, 2012 E-mail: fouadsarker@yahoo.com Accepted: April 16, 2012 DOI: 10.5296/jpag.v2i1.1583 Abstract This paper examines people‟s understanding, expectations and assessment of the corporate social responsibility (CSR) of private banks, especially Dutch-Bangla Bank Ltd. (DBBL), one of the largest private banks in Bangladesh. This study has been conducted among the stakeholders and beneficiaries of the Dutch Bangla Bank Limited. Surveys have been conducted using structured questionnaires to critically examine the subjective perceptions of the meaning, reasons and various aspects of CSR tasks of DBBL in Bangladesh. It has been found out that common people either do not have clear understanding about CSR activities or are not really concerned about the social responsibilities of the corporate organizations. The expected outcome of CSR activities, as has been stated in the memorandum and commitments of the corporate houses, has yet to be achieved. This study suggests that a more comprehensive and humane involvement of the common people in the CSR activities is required, which would not...
Words: 4406 - Pages: 18
...Berkeley Journal of International Law Volume 26 | Issue 2 Article 5 2008 Corporate Governance as Social Responsibility: A Research Agenda Amiram Gill Recommended Citation Amiram Gill, Corporate Governance as Social Responsibility: A Research Agenda, 26 Berkeley J. Int'l Law. 452 (2008). Available at: http://scholarship.law.berkeley.edu/bjil/vol26/iss2/5 This Article is brought to you for free and open access by the Law Journals and Related Materials at Berkeley Law Scholarship Repository. It has been accepted for inclusion in Berkeley Journal of International Law by an authorized administrator of Berkeley Law Scholarship Repository. For more information, please contact jcera@law.berkeley.edu. Gill: Corporate Governance as Social Responsibility: A Research Agenda Corporate Governance as Social Responsibility: A Research Agenda By Amiram Gill* In the post-Enron years, corporate governance has shifted from its traditional focus on agency conflicts to address issues of ethics, accountability, transparency,and disclosure. Moreover, corporate social responsibility (CSR) has increasinglyfocused on corporate governance as a vehicle for incorporating social and environmental concerns into the business decision-making process, benefiting not only financial investors but also employees, consumers, and communities. Currently, corporate governance is being linked more and more with business practices and public policies that are stakeholder-friendly. This ...
Words: 13200 - Pages: 53
...management issues1 Identification of management issues2 rationalisation behind unethical behaviour2 corporate governance and social responsibility2 recommendations3 Implementation of recommendations3 references4 1.0 BACKGROUND The purpose of this case study is to identify the management issues of Satyam Computer Services Limited’s, former chairman Ramalinga Raju when he admitted to corporate fraud in 2009, and how these issues could be addressed. Satyam Computer Services Limited, (now known as Mahindra Satyam) is a “leading global information communications and technology company”. (Anon., n.d.) It is a part of the “US $15.4 billion dollar Mahindra group, a global industrial federation of companies of the top 10 business houses based in India”. (Anon., n.d., p. 1; Anon., n.d.)). 1.1 INTRODUCTION TO MANAGEMENT ISSUES “India’s corporate community experienced a significant shock in January 2009 with damaging revelations about board failure and colossal fraud in the financials of Satyam.” (Afsharipour, 2010)Ramalinga Raju and the CFO of the company were charged with “conspiracy, cheating and falsifying records. Raju was also allegedly using salary payments to fabricated employees, in order to steal money from the company.” (Anon., n.d.) This case study will explore the unethical behaviours of Ramalinga Raju, but also how ethical standards and social responsibility factors in with Satyam’s Computer Services Limited’s own management issues, which would have also contributed...
Words: 1254 - Pages: 6
...Corporate social responsibilty hi professionals what is corporate social responsibility and what is the connection between csr and hrd.. suggestions are welcomed. regards manish :lol: Discussion in CiteHR.com - 4 Replies - Dated: 27-04-2007 PPT on Corporate Social Responsibility & Corporate Responsiveness IDear friends:icon1:/I IPlease find attached presentation on Corporate Social responsibility and Corporate Responsiveness.:icon1:/I I/I IHope it will make you clear to understand the concept Discussion in CiteHR.com - 35 Replies - Dated: 09-07-2008 Csr?????????????? Hi All Can anybody help me on CSRcorporate social responsibility. we have recently launched this in our org n & i want to know wat are the various activities we can start realated to this. Thanks & Regds Discussion in CiteHR.com - 5 Replies - Dated: 09-07-2008 Urgent... Project topic help... Plz..... Hi... I m pursuing mba 4rth sem with hr specialisation. Out of these 2 below project titles which one is best to do.. 1.corporate social responsibility 2.hrm practices i need to submit abstract on topics. Plz give ur valuable suggestion plz urgent.. Discussion in CiteHR.com - 3 Replies - Dated: 24-03-2011 Requests for slogans Hi friends I am looking for some good slognas on Motivation and Corporate Social Responsibility CSR. Can anyone help me? Awaiting responses.... Discussion in CiteHR.com - 5 Replies - Dated: 31-05-2008 Job description Hi Can we have any corporate hr word for " Managerial Responsibility...
Words: 522 - Pages: 3
...The Consequences of Mandatory Corporate Sustainability Reporting Ioannis Ioannou London Business School George Serafeim Harvard Business School Abstract We examine the effect of mandatory sustainability reporting on several measures of socially responsible management practices. Using data for 58 countries, we show that after the adoption of mandatory sustainability reporting laws and regulations, the social responsibility of business leaders increases. We also document that both sustainable development and employee training become a higher priority for companies, and that corporate governance improves. Furthermore, we find that companies implement more ethical practices, reduce bribery and corruption, and that managerial credibility increases. These effects are larger for countries with stronger law enforcement and more widespread assurance of sustainability reports. We conclude with thoughts about mandatory sustainability and integrated reporting. Keywords: sustainability reporting, mandatory reporting, corporate social responsibility, integrated reporting Assistant Professor of Strategic and International Management, London Business School, Regent’s Park, NW1 4SA, London, United Kingdom. Email: iioannou@london.edu, Ph: +44 20 7000 8748, Fx: +44 20 7000 7001. Assistant Professor of Business Administration, Harvard Business School, Soldiers’ Field Road, Morgan Hall 381, 02163 Boston, MA, USA. Email:gserafeim@hbs.edu, Ph: +1 617 495 6548, Fx: +1 617 496 7387 (contact...
Words: 7474 - Pages: 30
