...Corporate Social Responsibility for Business The purpose of this recommendation report is to help enterpriser to recognize the importance of corporate social responsibility for the business. There is more intense scrutiny from public toward business since the past thirty years because business caused many problems that are criticized much by public and society such as unacceptable ethical behaviors, deteriorating environment cased by business activities and so on. As a result, a concern of Corporate Social Responsibility (CSR) had generated during that time. Many people believe CSR is good for business based on the socioeconomic view of social responsibility (Robbins, Bergman, Stagg & Coulter, 2005). This report is in favour of the view that the CSR is good for business by considering the economic, legal, ethic and philanthropic advantages of CSR in business. From the impacts of CSR to business’ economic positions, there are three advantages for business, which are secure long-run profits for companies, improvement of shareholder’s interests in the long run, superiority of avoidance of negative social or environmental impact and Improvement of public image and supports from public expectations respectively. • Secure long-run profits for companies CSR can help companies maintain long-range self-interest. That is to say, many of social problems caused from business activities seriously deteriorate the social condition that may become unhealthy climate for business’ performance...
Words: 1632 - Pages: 7
...RUNNING HEAD: THE IMPORTANCE OF ETHICS IN THE BUSINESS WORLD BY Marie J.Lucel MAN 2604 International Business Submitted to: Professor McFarlane Donovan Department of Business Administration Broward College North Campus Coconut Creek, Florida April 01 , 2013 The Importance of Business Ethics in International Businesses Abstract Keywords: Business ethics, corruption, human rights, conducts employment practices, environmental regulations, conflicts of interests, General Policy and Procedures, and moral obligation of the multinational organization. Introduction Businesses are faced with very real ethical dilemmas where the appropriate course of action is not really clear. Some of these are the ethical obligations of a multinational corporation toward their employment conditions, human rights, environmental pollution .Understanding the nature of ethical problems and deciding what actions to pursue when confronted with .Ethical problems frequently occur in International Business. Basic human rights are not accepted in international business, which include freedom of speech, freedom of assembly, freedom of movement, freedom of political repression and so on. In international corruption is so widespread in some countries that politicians and bureaucrats regard it as a benefit of office and openly as break laws against corruption. Corruption is seen and treated as illegal, and when discovered, violators are punished by the full extent of the law. In some countries...
Words: 2991 - Pages: 12
...We will be discussing business ethics and social responsibility in our presentation today, and relating these theories specifically to the News of the World phone hacking scandal that broke in 2007. This scandal involved journalists and editors of the publication, News of the World illegally hacking into people's phones in order to access information that would not have been available to them otherwise. Though exact numbers are not known, lists of phones were confiscated listing thousands of mobile numbers, including the numbers of members of the royal family, some celebrities and the families of soldiers, terror and murder victims (BBC News UK, 2013). The scandal was further complicated when members of the London Metropolitan police engaged in behaviour that covered up or misrepresented the legality of the actions undertaken by the paper (BBC News UK, 2013). So to start, what are business ethics and social responsibility? Ethics are not easy to define. They represent a social contract between individuals of a given community, and define what a person ought, and conversely ought not, to do, (Andre & Velasques 1987). However, ethics are not defined by individuals, but rather represent the values of the largest majority. This means that the things an individual values may not be congruent with acting ethically as is defined by the community. This conflict is representative of an ethical dilema. This occurs when an individuals values contradict the behaviour that the code of ethics...
Words: 2910 - Pages: 12
...Introduction The Everest simulation provided several situations where multiple management theories, discussed in the lectures, were applicable. Being divided into teams to complete the task helped align this simulation’s findings with a real life business setting. Contrasting roles and goals of each individual team member further enhanced the similarity to an everyday business. To conquer Everest, whether it is in reality or as part of this ‘simulation’, requires significant amounts of planning and well thought out management decisions which allow for continued success for the team as a whole. Upon review of the simulation two management concepts were more prevalent than others; ethical and social responsibility with specific focus on the utilitarianism approach and the concept of strategic planning and goal setting, within that scenario planning and crises management. The concepts applicability to both the individual and group components of the simulation will be the main focus of this report. Clarity gained from scholarly articles will also be discussed in detail. Concept 1 – Strategic Planning/Goal Setting and Scenario Planning and Crises Management Good planning is the foundation of any successful individual, team or company venture, conquering Everest is no different. The planning process is often divided into three levels. The first, strategic, focuses on long range goals and focuses on the goals of the organisation as a whole. (Steiner, 2010) Second is tactical planning...
Words: 2313 - Pages: 10
...America Ethical v. Unethical, Compare & Contrast The organizational performances of companies who deal with unethical business as opposed to companies who have leaders who consistently behave in an ethical manner have significant differences. One must, first, take into consideration how ethics are looked at as it pertains to the business community. Because terms dealing with the ideal behavior of leaders are used so loosely, it is helpful to define what these terms have generally come to mean in the business community. Ethics is the study of moral obligations, or of separating right from wrong. Ethics can also be a plural noun meaning the accepted guidelines of behavior for groups or institutions (Dubrin, 2010). Therefore, when dealing within organizations, if unethical behavior is not frowned upon, it can easily form at the highest level of the organization and trickle down throughout the organization, effecting employees on all levels. A leader who values fairness will evaluate group members on the basis of their performance, not personal friendships. And a moral leader will practice good ethics (Dubrin, 2010). In turn, if the leader has established good ethics and displays those in all fronts for the organization then the majority of the employee within the organization will be motivated to do the same. To further suggest the idea of the importance of the amount of ethical behavior displayed by the leader of the organization, the text provides that according to an LRN...
Words: 1191 - Pages: 5
...Corporate Social Responsibility Initiatives: A Case Study of Maruti Suzuki, Hyundai Motors & Toyota Shubham Jain, BBA (2014 - 2017), IITM Janakpuri / Guru Gobind Singh Indraprastha University, Dwarka Abstract Corporate social responsibility in simple words means, “giving back to the society from where an organisation operates its functions, employ resources and satisfy human wants by offering goods and services. In today’s time, business has emerged as one of the most powerful instituitions on the earth, earning profits will be of no use until and unless the customers associated with the organisations are not happy with the company’s perspective towards helping the society. Therefore, it calls for the need of corporate social responsibility....
Words: 1310 - Pages: 6
...are an important part of any business plan. Promotion is the process an individual or businesses use to get the word out about their product or service to customers, stakeholders and the general public. Public relations is defined as the marketing function in which public attitudes are evaluated, helps to identify areas within the organization that may appeal to consumers, and can help to implement a program of action that will help to gain the public’s attention and acceptance. This paper will discuss the importance of using promotion and public relations in business. The objectives of sales promotions are to build product awareness, to create public interest, provide necessary information, to stimulate the demand for the product or service, and can also be used to reinforce a particular brand. Sales promotion techniques can be very effective in helping to expose new and current customers to products for the first time and can aid in important promotional components in the early stages of the new product introduction process. Sales promotion techniques are aimed at the determination to build product awareness among the public, as well as having the added bonus of seizing pertinent current customer data at the time of the product’s exposure. Sales promotion can act as an effective customer information gathering tool that can later be used as part of the company’s follow-up marketing efforts. Sales promotions are very effective in creating interest in a product and can significantly...
Words: 995 - Pages: 4
...Corporate Social Responsibility Agenda: 1. Introduction * What is the CSR (CSR definition)? 2. Why CSR (Importance of CSR)? 3. Approaches of CSR 4. Critics of CSR 5. Real Cases for CSR 6. Ref. 1. Introduction a. What is the CSR (CSR definition)? CSR is about how companies manage the business processes to produce an overall positive impact on society. Corporate Social Responsibility 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 (The World Business Council for Sustainable Development http://www.mallenbaker.net/csr/definition.php) The way in which firms seek to voluntarily align the interests of owners and other stakeholders with the long-term best interests of the society (Thomsen, S.Conyon) The stakeholders include Stakeholders include customers, employees, suppliers, government, the environment and the wider society 1. Why CSR (Importance of CSR)? Companies promote CSR for a variety of reasons It’s good for business Customer demand Improves corporate reputation Increases financial performance 2. Approaches of CSR The CSR have 3 approaches: - Win-win: engaging in CSR leads to higher profits - Delegated philanthropy: stakeholders prefer firms that engage in philanthropic activities on their behalf - Insider-initiated...
Words: 754 - Pages: 4
...® Academy o/ Management Executive. 2004. Vol. 18. No. 2 Business ethics and customer stakeholders O.C. Ferrell A common view of the firm holds that employees, customers, shareholders, and suppliers are key organizational stakeholders.^ While obligations to these stakeholders are sometimes considered to be motivated by organizational self-interest, the ethical perspective asserts the rightness or wrongness of specific firm actions independently of any social or stakeholder obligations.^ Customers are key stakeholders that help establish the firm's reputation and identification. For example, today Procter and Gamble is considered a textbook marketdriven global powerhouse with billion-dollar brands such as Bounty, Olay, Tide, Crest, and Folgers.^ Understanding customer needs and wants and providing customers with high-quality products are the key to the company's success. A market orientation focuses on an understanding of customers' expressed and latent needs and development of superior solutions to the needs.* Such an approach selects to elevate the interests of one stakeholder—the customer—over those of others. another in advertising campaigns, each declared that they provided the 'freshest' ingredients. The matter was taken to court and resolved through civil litigation. The importance of creating customer relationships and creating value for the customer as a part of market orientation should lead to increased performance. This article provides insights on foundations for...
Words: 2793 - Pages: 12
...Assignment Essay –Corporate social responsibility Student Name- Shivneet kaur Student Number- 15354 Course Name -EAP2C Date -14 nov.2014 Corporate Social Responsibility (CSR) is a term in business, which is started in the early 1950 and become important term till at 1990's .The aim of CSR is to do better for society through business. CSR is a broad concept, so it has different meaning given in this term. Anders George and Guido Palazzo mentioned the involvement of CSR by explained it as "umbrella term" and also the importance and duties of business for society ( Oliver, F. Williams).According to Koestler, CSR is way to educate the firms to be concerned many social problems, which are related with their business also(2007). Mondaq business Briefing (2012, Aug.24) stated that CSR helps the companies to operate their business in a method which bring pros for them as well as for stakeholders who are affected by their activities. Through CSR, business becomes responsible to behave morally and provide their services to development the society. They are also responsible for improving the life of workers and their families as well as of the local community and society (Lord Holmen and Richard Watts, 1999). Now, business and markets become the new drivers of world growth. Many countries including India, Brazil, and China etc. are planned to take steps under CSR for providing...
Words: 968 - Pages: 4
...LECTURE OUTLINE I. Stakeholders Define Ethical Issues in Business A. Stakeholders In a business context, customers, investors and shareholders, employees, suppliers, government agencies, communities, and others who have a “stake” or claim in some aspect of a company’s products, operations, markets, industry, and outcomes are known as stakeholders. 1. Stakeholders are influenced by business, but they also have the ability to affect businesses. 2. They apply their values and standards to many diverse issues—for example, working conditions, consumer rights, environmental conservation, product safety, and proper information disclosure—which may or may not directly affect an individual stakeholder’s own welfare. 3. They provide both tangible and intangible resources that are more or less critical to a firm’s long-term success. 4. Individual stakeholders that share similar expectations about desirable business conduct may choose to establish or join formal communities to advocate their values and expectations. 5. Stakeholders’ ability to withdraw—or to threaten to withdraw—valuable needed resources gives them power over businesses. B. Identifying Stakeholders 1. Stakeholders can be divided into two categories. a) Primary stakeholders are those whose continued association is absolutely necessary for a firm’s survival; these include employees, customers, investors, and stockholders, as well as the governments...
Words: 1579 - Pages: 7
...SOCIAL RESPONSIBILITY: WHY IT’S THE RIGHT THING TO DO “Being socially responsible means that people and organizations must behave ethically and with sensitivity toward social, cultural, economic and environmental issues. Striving for social responsibility helps individuals, organizations and governments have a positive impact on development, business and society with a positive contribution to bottom-line results,” (http://www.imasocialentrepreneur.com/social-responsibility/). In layman’s terms, corporations have a responsibility to serve the community while providing goods and services and making a profit. Business Law author Henry Cheeseman identifies the four theories of social responsibility as: a) maximizing profits, b) moral minimum, c) stakeholder interest, and d) corporate citizenship. In order to comply with social responsibility standards, all requirements must be met. Unfortunately, not all business owners feel obligated to be fully socially responsible. T.J. Rodgers, founder and CEO of Cypress Semiconductor, is one who does not. His primary interests are in maximizing profits and stakeholder interests. Whole Foods CEO John Mackey, on the other hand, fully grasps the idea of and practices all aspects of social responsibility. There are legitimate arguments for and against businesses performing social responsibility activities. The strongest argument in support of social responsibility is that because businesses have such a profound impact on their communities...
Words: 1568 - Pages: 7
................................................ 3 2.3 Industry competition ..................................................................................................................... 4 2.4 Power of buyers ............................................................................................................................ 4 2.5 Threat of substitutes ..................................................................................................................... 4 3. STEEPLE Analysis ................................................................................................................................. 5 3.1 Social / Culture .............................................................................................................................. 5 3.2 Technological Innovation .............................................................................................................. 6 3.3 Economic issues...
Words: 1801 - Pages: 8
...recommendations given due to her circumstances. It has been long understood that employees truly make an organization. The population researched and discussed are MBAs consider vital when searching for a job and it has been proven that most job seekers will not work at a company they could not be proud to state their affiliation. This material suggests that organizations overestimate the level to which others share their views on ethical matters and factors an organization’s ethical practices, corporate social responsibility (CSR), treatment of employees, job training and growth as good impacts. The results from this assignment will reveal the importance of a organization reputation related to their employees values, and its own ethical practices. Individualism and personal preferences can impact business ethics. Ethical decisions in organizations are calibrated according to what people believe to be the majority view, but having a more central position in the social structure seems to do little to help employees accurately calibrate their ethical judgments....
Words: 1544 - Pages: 7
...reflected in the price of the stock. These activities lead to increases in the Net Asset Value and Equity per Share. Milton Friedman’s maxim states ‘the business of business is business’ and that the ‘only social responsibility of business is to increase profit’. Businesses which follow this approach argue that it is not the duty of the business to be concerned about social welfare and indeed this may well detract from the primary means by which the company should be contributing to society; that is by operating in an efficient economic matter. Alternatively some businesses take the view that working cooperatively in an environment, paying attention to and contributing positively to environmental and community needs, creates a more sustainable operating situation for the long term pursuit if busines goals (such as profit maximisation) Cadbury’s is a good early exapmle of an organisation that held this view and much of today’s human resource models in the UK and Ireland owes a lot to the progressive policies of this organisation. Ideas that staff should be well treated; products should not be harmful and that the company should reinvest back into the society in which they operate has had clear benefits got organisation’s like Cadbury’s for over a century. There are different factors to consider that affect the importance placed on society’s welfare by the manager, and why they might choose to be interested in the well being of society at large; these considerations are:...
Words: 1247 - Pages: 5
