Essay on “Corporate Social Responsibility and Ethics”
Social responsibility is an idea that has been of concern to mankind for many years.
Over the last two decades, however, it has become of increasing concern to the business world.
Over the past decades, there have been increasing concerns from the public that many businesses have little concern for the consumer, care nothing about the deteriorating social order, and are indifferent to the problems of the environment and minorities. What do business and ethics
have in common? Is ethical behavior expected and rewarded in the business world? Is it sufficient as a businessman to manage business as long he comply government regulations? Or basically, what is the purpose of the big business
organization? These concerns are often related as what social responsibilities have. Is there a social responsibility of business? This question is asked many times in a variety of ways, with just as many answers
. Most of the debates focused on the two extreme classical and
socioeconomic views of social responsibility. The classical view holds that corporate social responsibility is to maximize profit (Friedman, 1970). Opposing to such view is the socioeconomic view of social responsibility. Theorists such as R. Edward Freeman (1984) supporting such view believe 'that business owes
something back to the society that supports t, and that this debt is greater than the debt of the individual members of society'.
This has resulted in growing interaction between governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. “Today, however, businesses must also
reflect on the legal, ethical, moral and social consequences of their decisions” (Anderson 15). This paper will discuss the concept of corporate social responsibility
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It will give the definition of the phrase, and identify some of the global factors that necessitate corporate social responsibility. It will discuss the importance of corporations setting up corporate social responsibility projects, and the impact these have on society.
I think the first thing is for a company to make the decision to define a clear strategy that integrates sustainability thinking into business processes and define what the desired outcome is. In the current line-up, it is hard not to ignore Unilever as a company which has made
bold statements about sustainability, "decoupling" environmental impacts from corporate growth and trying to engage consumers in behavior change, with a CEO who is very vocal about the importance of this approach and carries
Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all business.
Corporate social responsibility is no longer defined by how much money a company contributes to charity, but by its overall involvement in activities that improve the quality of people’s lives.
Although, Corporation Social Responsibility can come across as an idealistic idea, especially as it is voluntary process and lack regulation and therefore subjected to abuse of power by decision making companies in the
social domain, it actually produces favourable results if applied positively. Corporations and governments are powerful and influential institutes and can therefore make a significant difference to society. This difference whether
these institutes impacts positively or negatively, will depend on the contribution to better
thinking about what is Ethically right or wrong. This knowledge can produce decisions and behaviours that are recognised by stakeholders as unethical and help managers assess the
changes needed to manage CSR. A good CSR framework aligns community efforts and charitable efforts with core business strategy
, expertise and market needs. This in turn helps build up a company's social capital and is likely to bring returns including financial returns.
Corporate Responsibility has come up as a significant subject matter in the international business community and is progressively becoming a mainstream activity. There is mounting recognition of the momentous effect the activities of the
private sector have on the workforce, clientele, the society, the environment, competitors, business associates
, investors, shareholders, governments and others groups.
Corporation Social Responsibility must first be sold as a developing a value proposition to its own board, as it plays an important role in helping to shape and develop the value proposition. A value proposition being the corporeal results a customer gets from
using the company's products or services. Aligned with social dimension, this helps provide guidance and direction to utilise the energy and enthusiasm for CSR. By identifying where companies can be socially responsible while continue to pursuit long term competitiveness of its business
, companies can utilise
the wider community with its own set of expertise
. This framework should whilst reinforcing its core business strategies also
attempt to transform value chain activities. This is important as local customers are an important source of sales and improving a company's reputation, the company itself will find it easier to recruit workforce and lead a better local authority relation
. The best way to assess whether CSR is working and related to the corporation is to set CSR measurability and performance metric (differ for every company
). An example of CSR metric are Key Performance indicators (KPIs) using a balance score card to measure factors such as environmental performance and benchmarking against other companies in the same industry spectrum.
It is also becoming progressively clear that organizations can contribute to their individual wealth and to overall community wealth by taking into account the effect they have on the entire globe when making decisions (Anderson 5).
Ethics of multi-corporations involves actions that are morally upright.
As more and more Stakeholders are demanding accountability CSR now involves more complex decision making. This makes the companies grow from the single dimensional thinking of maximising financial profit and concern more about the economic
, social and environmental aspects of corporation impacts. For this to continue to be possible a firmed knowledge of CSR is critical, as learning about CSR means learning to manage CSR initiatives and engage
with Stakeholders enabling managers to kept CSR alive within the company. Another reason for learning about CSR is so that ethical misconduct within the workplace can be recognised by employees, managers and Stakeholders, as this is far too common. This recognition could open a gateway to taking action to address the misconduct
. Everyone can benefit from Corporate Social Responsibility giving compelling reasons for customer
, supplies and community to learn about CSR so as to protect and promote their interest in relation to corporate activities.
It is common knowledge that most of the activities corporations are engaged in may not meet the required ethical standards. This is because, many businesses tend to focus on profit making rather than any other thing.
However, in a more general sense, there are some differences in culture and focus, depending on the state of business and sustainability practice. Local companies in emerging economies, for example, are primarily concerned with ensuring compliance and attention to quality
, safety and employee standards, while focusing their efforts on those aspects of sustainability which will deliver shorter term cost advantages
, such as energy and raw materials savings. In some areas, such as India, sustainability is more about citizenship and philanthropic activities. In some countries, such as Japan, sustainability is very systematic and driven by quality frameworks
, whereas in other countries, such as Africa, it's more about social equality and empowerment.
Business ethics is an upcoming issue mainly due to the sheer number of persons involved. The actions of a few persons may seem safe on a small scale but on a large scale, such actions could be devastating.
Corporate Social Responsibility (CSR) is a self-regulatory mechanism incorporated by corporations in their business model. The term CSR is also used for activities carried out by companies around the globe to give back to the society. The concept of CSR has been acknowledged by companies around the
world and it is considered to an essential part of the operations of the companies. In the recent past, there have been several advancements in the corporate world which have necessitated the need for incorporating CSR in
the core business model, specifically for large scale corporations with operations situated in multiple territories all around the world.
An example of such situations that may be considered unethical is the firing or employees to keep the profit margin of a company high. In the wake of the financial breakdown, many people lost their jobs.
This means that companies are looking for the "shared value" aspects of sustainability activity which are generated through different business models. Regulation is also getting keener in many countries and carbon emissions, energy, water and other natural resources are becoming more expensive. Financially, companies are
realizing that their financial balance sheet has the potential to be significantly affected by government intervention with carbon taxation, water taxation, landfill costs etc.
Most of the persons who lost their jobs included civil servants who are middle class persons. In order to ensure that the corporations save some money, most of these workers were laid off. Such an action is considered unethical
Corporations, although are enterprises with purpose of commercial pursuits, are powerful and influential institutions. However, one must not forget that their processes have a very public impact and affect many lives through their actions and behaviours. For this reason, it is very important that they
act and behave responsibly and CRS policies should be there to
guide corporation to Ethical path. More importantly for corporation, this responsibility can make a worthwhile contribution to
society as irresponsible business can be harmful in equal measure. Companies without regard for their responsibilities and act/behave in an unethical ways that is damming to the world's natural resources, will earn bad reputation which could not only loss profit or even destroy the company in their home
ground but also the impact could be greater for international companies as their restriction could expand to many countries across the world.
This is because; even though the companies are somehow at a loss, the firing of all those employees means that so many people are going to suffer. The multi-corporations could definitely live with the loss incurred but would rather avoid that by firing a number of their workers.
Although CSR is largely unregulated, corporations have acknowledged that carrying out CSR activities reflects positively on their brand image. In case of financial reporting, companies are required to follow strict standardized requirements
; however in case of CSR, there are no strict regulations which make CSR mandatory. Despite the lack of regulations, the regulatory authorities encourage companies to engage in
CSR as expenses incurred under CSR are deductible for tax purposes depending upon local laws. In the race to outrun their competitors, corporations conduct bigger and bigger CSR activities to earn
higher goodwill among consumers. Corporations benefit from CSR as well because consumer prefer carrying out business with companies which have a positive image in the market.
Businesses are an essential part of the society within which they operate. Excellent executives are aware that their long-term prosperity is founded on sustained good associations with a broad range of persons, groups and organizations.
However, we still spend much time and energy in helping develop awareness in the market, through our writings, conferences and our work with different corporate groups. One initiative, which we started in 2009, is called the Transparency Index
. We evaluate and publish a ranking of the website transparency of leading public companies in different
markets in the world to see how they are reflecting sustainability issues in an accessible way through their web platform. For the first few years, we covered the Israeli market only, but now, in partnership with the Center for CSR Development in Ukraine, we are expanding this into a global index which
will be launched later this year. Web-based transparency is also influenced by the presence of a Sustainability Report.
Intelligent organizations know that businesses can never be prosperous if they operate within societies that are unsuccessful. This is regardless of whether the society is failing due to social, governance or environmental challenges.
Regardless of whether business or government, leaders in all sectors have an opportunity to improve current issues and solve business problems. Community needs can be opportunities to utilise business technology and provide
collaborative efforts to serve community needs. The Internet revolution has provided the public the chance to empower themselves and with this in mind customers
, empowered by the internet, are researching corporate
citizenship. The times of word-of-mouth and traditional media sources, such as television, is being surpassed by the number of growing search engines, and the number of customers using the Internet to research companies
through independent sources is growing. Corporations should look for new ways to inform consumers about
their social responsible actions and should realise that a great number of consumers will be sceptical and will check up on any claims. A company with good CSR policies, which demands that commercial success, be gained through positive practices that aim to
promote general welfare
, such as more jobs, better salaries, environmentally responsible activity and local interaction, tend to do a lot better then companies who do not. Success, after all, is not only measured in monetary terms but also the corporation's impact on the community, on its customers and on the
Furthermore, the common public has lofty expectations of the private sector with regard to responsible and ethical behavior. Consumers expect goods and services to mirror socially and environmentally accountable business conduct at
There are a number of valid reasons for this question, including that CSR is a good business Ethics. Business ethics regards what is morally right and wrong with a company's activities and behaviours. The likelihood of company to transact
without creating some sort of environmental or social impact is very small, might this be of positive or negative impact. A key point of CSR is that it recognises the responsibility that companies have to take into account of those
impacts. CSR is a framework for thinking about business ethics
, making ethical decisions and working within the law, it says a company responsibilities reach further than just making a profit. Another reason is that CSR means engaging with Stakeholders (people whose lives and livelihoods are impacted by the company's activities
). CSR in this case means that a company will make a decision with society (the Stakeholders are a broad and varied group) expectations in mind. Furthermore, the corporation will recognise not only the opinions but also the values that are important to the
Stakeholders and will actively engage with its Stakeholders to understand their aspirations, goals and concerns.
Shareholders also are seeking improved financial performance that interlinks social and environmental elements, as regards the opportunities they present (Banerjee 13).
There are several factors which explain the growing interest in corporate social responsibility.
It all started in the eighteen century, with a Scottish philosopher of political economics, Adam Smith, who expressed that the free interaction of organisations and the public would meet the needs and desires of society. This responsibility was then termed Corporate Social Responsibility (CSR) and started an evolution from the 1950's and further expanded during the 1970's. The evolution and expansion of CSR is a direct result of ever
The first factor is the new concerns and expectations of citizens, consumers, public authorities globalisation and industrial change. The second factor is the increasing influence of social criteria on the investment decisions
of individuals and institutions, as investors or consumers.
In general, we find that companies which are on the sustainability journey are more ready to report because they have accepted that transparency is an inseparable part of the overall process. Often, they are subject to pressures from their customers or even
competitive pressures to report. Those who have not, often talk about the complexity, cost and lack of investor pressure to
report. However, these are companies who have not quite understood what Sustainability Reporting is all about. Even as an SME, you might say a micro-business, my consulting firm Beyond Business published a first Sustainability Report
(which won an award as the Best SME Report in the global CRRA
'12 Awards in April 2012), and we intend to report every two years. As a consulting firm, this is important for us to "practice what we preach" and demonstrate that any reason for not reporting on sustainability is simply an excuse and not a justification.
The third factor is the growing concern about environmental degradation. This is a particularly important concern given the fact that environmental conservation
has become an increasingly significant
for everyone in society today.
Worldwide, I believe sustainability is in a dynamic phase and moving towards a more holistic representation of the concept. Rather than just trying to "be good" or "do good", there is more of a realization these days that sustainability is a way of business
, not just a project which runs alongside the business. No longer just about values or philanthropy, companies now see they can make money through sustainability.
With multi-corporations raking in millions, it is only justified that they give back to the community. The wanton disregard of the environment by a few companies when it comes to handling of industrial waste, the use of recyclable paper or sheer indifference when it comes to environmental protection is shocking.
We urge companies to measure not only performance, but outcomes and consider the question: what is different in the world as a result of our sustainability performance? We advise companies to report as honestly and as transparently about
their business in a way
which enables stakeholders to gain a true appreciation of their impacts. Finally, we advise companies to be realistic and authentic, acknowledging they are on a multi-year journey and not a day-trip.
As aforementioned, corporate social responsibility involves activities that give back to the community, or ensure fairness in the running of activities (Crowther and Rayman-Bacchu 69).
The protection of the environment has become the center stage of many humanitarian organizations.
The Human Resources function in any business has an important leadership role to play in contributing to the definition and execution of sustainability strategy in any company, and also in establishing Human Resources practices which are
sustainable. Sustainability done well requires changing the culture of the
business. The Human Resources function has the specialist knowledge and skill to drive culture change processes
Most of these humanitarian organizations argue that the protection of the environment should be the key concern of any corporation. This is because; the environment is the only natural resource that is invaluable to the human race.
There are many different ways a corporation can support a social initiative and still make profits. A good example is the Marriott Corporation (ref), who was motivated by a desire to help the community while still helping the bottom line, by training and hiring 6000 persons on welfare
. Marriott was still able to cut costs and increase productivity. It can be in a company's best interest to provide a needed service within a low income area. By incorporating a
service that improves the resources and infrastructure of a community, it can offer an economic return for the organisation through recognition or direct community investments
. In this sense, a business has an obligation to both profit and serve the community, for all stakeholders involved. This shows that when a company practice in good CSR, it gains better reputation and brand image meaning an extension of better sales, more investors and customer
loyalty plate form. This is supported by the survey done by Hill & Knowlton/Harris (2001) showed that 91 % of all customer survey said that they would switch to other companies, if the corporation had a negative image.
The issue of handling industrial waste by many corporations has always been at the forefront of many environmental organizations. This is because; corporations are guilty on more than one accord of irresponsibly handling their waste.
With regard to the benefits and drawbacks of CSR, there are varying arguments. It is argued by some experts that CSR does not benefit shareholders as it jeopardizes the financial performance of the company. The proportion of profits that would otherwise be distributed to shareholders by way of dividends is spent in CSR activities which are
not profitable or revenue-generating. These activities are considered to be merely an expense for the corporation. Since the primary purpose of a commercial organization is to generate value for its
shareholders, it is only acceptable that the organization engages in activities which generate profit. On the other hand, other experts argue that CSR should be considered as ‘extended marketing’. Although it does not generate any profits
directly, it does help the organization in
strengthening its goodwill in the market which stabilizes, and at times, expands the consumer base of the organization resulting in greater revenues and therefore larger profits.
Evidence such as the great pacific garbage patch exists to show how many corporations are not handling the dumping of waste seriously. The great pacific garbage patch is a myriad of human waste that has found its way into the ocean after being improperly dumped.
For those of you who don't speak Romanian (which I don't, though I have downloaded an App :)), I thought I would provide a translation of my recent interview which appeared online here. The interview is with ResponsabilitateSociala.ro, the premier portal in Romania for all things relating to CSR
. Andreea Giuclea, editor of ResponsabilitateSociala conducted the interview and was responsible for asking me many thought-provoking questions. ResponsabilitateSociala is hosting the annual Europe CSR Lessons on 15th and 16th May in Bucharest, with a fine line-up of speakers and fascinating case studies. I will be presenting a home-grown case study from my own market on Wednesday 16th May. More about that after the event.
The great pacific garbage patch leads to problems such as loss of aquatic life and the contamination of the water not mentioning the introduction of many pollutants into the water (Werther and Chandler 55).
Corporate social responsibility makes it clear that it is certainly unethical for these corporations to be making profits at the expense of the environment and other aspects of the human life.
A corporation incorporated each area into their business model and culture, generating growth for all three areas using their framework. An initial financial profit setback will be met when applying the framework, an exception being if the businesses have a
direct business involvement with social issues.
Corporate social responsibility makes it clear that corporations should therefore find better ways to handle their waste disposal. Even though it is currently not clear on what is the best way to handle some waste such as hot water, responsibility means that before waste is disposed, it should pass some tests
Although, many organisations such as United Nations (UN) are all attempting to regulate Corporate Social Responsibility through their framework, it is still voluntary corporation action and goes beyond regulations and laws. This unfortunately means that CSR lack of formal regulation and is not standardised and
therefore often not possible to compare CSR
performance in detail. Appallingly CSR is misused as a market ploy and reveals facts such as some company, whose very existence is considered to be socially irresponsible, such as British American Tobacco Corporation, are being recognised for performing some socially responsible acts. This is due to companies being given
the right to shape and define CSR increasing the risk of abuse of power.
The tests could ensure that the waste is safe for disposal and would not in any way harm human beings and other life. Corporate social responsibility is therefore viewed as a control mechanism to ensure that multi-corporations are responsible for their actions (Werther and Chandler 70).
We therefore advise companies to look at their broader role in society and how their sustainability performance is positioned in the context of the contribution they make to a better world. We advise companies to find the right focus for their business and drive
their performance in that focused area as hard as they can, while ensuring a minimum baseline across key sustainability indicators. We advise companies to ensure they bring along all their employees and external partners - sustainability works best when it forms a culture which is
embedded in the business and is done in partnership.
The global financial meltdown uncovered many social norms previously unimagined. The number of people who lost their jobs due to the financial situation is appalling. Interestingly, this does not mean that multi-national corporations are necessarily suffering.
We see transparency as a catalyst for performance. The very act of preparing a Sustainability Report causes a company to confront many issues within its business which have never been addressed previously in the same way. Different questions
are asked and new measurements are required
. Core deliberations about disclosure cause serious discussions in the business at the
highest levels. Making a public commitment to targets and action plans carry a certain pressure to deliver, far more than with targets communicated internally.
Most of the established companies with branches all over the world took the excuse of the financial breakdown to benefit. All of a sudden, it was okay to lay off people on the pretext of financial gloom.
Social responsibility is defined as a business firm's obligation, beyond that required by the law and economics, to pursue long time goals that are good for society. Over the decades, there have been numerous controversial reports of social and
ethical issues business organizations faced
. A few of the visible examples have included accusations against H.B. Fuller Co. that it has been selling glue in Honduras that has been abused by the Honduran street children for glue sniffing, lawsuits against Dow Corning for its sales of defective silicone breast implants, and accusations and lawsuits against the tobacco industry for manufacturing and marketing what people consider to be
an dangerous product which may l...
This means that a few people were benefiting from the woes of a thousand more. The issue of corporate social responsibility presents itself in this situation in that, the multi-corporations are run by a board of governors.
Broadly, the approach to sustainability is more governed by the size and global nature of a business, rather than its location. Global companies, which are generally leading the sustainability pathway, operate in the same way in every market in which they are present. This has the effect of leveling out local and cultural differences
. Local companies in every market are impacted significantly by the standards established by leading businesses, as they are often suppliers to these businesses. Microsoft, P&G and Wal-Mart, for example, require their
suppliers to report on
The board of governors is usually composed of a few individuals that call all the shots. It is common knowledge that these corporations employ a huge number of persons in many sectors of the economy. When the profits of these gigantic companies fail to reach a certain goal, the running costs of the business have to be checked.
To embed sustainability, HRM needs to be clear about the contribution of employee engagement and employee practices to delivery of an overall sustainable business plan. Many HRM processes are inextricably linked to sustainability themes - compensation, recruitment, diversity and
inclusion, safety, health and wellbeing
. HRM can also make a profit-supporting contribution to sustainability. Wellbeing programs, for example, are now known to deliver up to four times the investment for
companies, in increased employee productivity, reduced health costs and insurance premiums, reduced absenteeism and turnover. HR needs to get better at measuring their contribution and tabling the benefits in a clear way. Regrettably, most HR Managers have still
not understood this.
This is why, the few persons at the top, not wanting to lose, resort to firing some people. This is done so as to maintain the profits at a certain level. The problem is that when all of the multinational companies resort to
firing a few employees, the net effect is that, a large number of persons end up losing
Additionally, Sustainability Reporting is a source of pride for employees and serves to support employee engagement. Therefore, most companies find that reporting serves as a management tool to help define and determine performance levels, set targets, engage employees and make progress.
Corporate social responsibility ensures that corporations the world over are engaged in other activities that give back to the community (Crowther and Rayman-Bacchu 172). Many activities that are considered helpful include; organizing activities that seek to involve the community in such events as fund raising for the needy, events that seek to help out the disadvantage in society and other similar activities.
It can be concluded that Corporate Social Responsibility is a self-regulated addition to the business model of large corporations and it is considered to be extended marketing. Despite not being a revenue generating activity
, it helps the corporations strengthen their brand image and stabilize their consumer base in the market.
In the financial and corporate world, corporate social responsibility a given with a positive impact on performance. There are, however, several factors that show the need for corporate social responsibility.
We recognize that companies have to start where they are. As consultants, we are always looking to help our clients deliver more progress, better results, faster implementation and broader and deeper assimilation of sustainability principles in the business. However, we recognize that companies can only do
so much and that they have to pace themselves. Sustainability is a long-term effort and must follow a strategy which has a
scope and a timing which is right for each business.
The first factor is population. The expanding population in developing regions will create larger markets dominated by younger individuals with questionable access to the developed world’s standard of living. Statistics show that more than eighty five percent of the world’s population will live
in developing countries by 2025 (Crowther and Rayman-Bacchu 165).
In addition, of course, transparency is the basis of a trusting relationship with stakeholders - research has shown that readers of Sustainability Reports increase their level of trust in the reporting company, even if the report is not of the
highest quality. (See specifically the recent report from ACCSR, on readers' perceptions of Sustainability Reports) A strong level of trust from stakeholders is massively significant and can help the company move forward and overcome challenges and risks. Often, the Sustainability Report is the only
place in which the company can tell its own story, as reports in the press may be misrepresentative.
This presents a challenge to companies seeking to involve themselves in corporate social responsibility, since it is clear that a lot of financial support will be required for these populations.
The second factor is wealth. Despite the fact that global wealth is rising, the income gap has grown wider, threatening civil society.
The move to an integrated approach to sustainability, characterized by the integrated reporting model, is taking time to be fully understood but is showing signs of reaching a wider corporate audience. Finally, the use of web-based tools to connect with
stakeholders and online interactions to gather stakeholder feedback are becoming more acceptable.
Seventy eight percent of the world can be classified as poor, with eleven percent in the middle class, and only eleven percent can be classified as rich. Each and every company should strive to be involved in attempting to balance this distribution of wealth. The trend of the rich growing richer while the poor grow poorer should be eliminated
, since it is unethical for some people to have so much
, and others to have nothing at all. The third factor is nutrition. There are millions of people who are malnourished, amidst an abundance of food. Thousands die of hunger every year, while rich corporations blow millions on fancy holidays for their executives. It is crucial for each company to take time and reflect on the finances it spends on benefits for its executives, as compared to that spent
on helping the needy in society.
More and more these days, we do less in terms of "trying to convince" companies to report. We prefer to talk to companies about Sustainable Business Strategy, and help them understand why and how this is beneficial for their business as well as for society and for the planet. The Sustainability Report is part of this
discussion. Our reputation as Sustainability Report consultants often brings companies to approach us after they
have made the decision to report and are looking for the expert support to deliver the best document they can.
While these benefits are vital for employee motivation, they should not be taken overboard at the expense of the suffering masses.
Education is another critical factor that should be considered in the design of corporate social responsibility programs. Basic education is widespread, but opportunities for learning continue to elude many. Over one hundred million children are not in school, with ninety seven percent of these being in developing countries. One in every five adults globally is illiterate, which are staggering figures given the widespread opportunities to learn available today. Corporate are faced with the challenge of promoting education by setting up schools, and funding educational development programs. Education can also be encouraged by taking in interns and trainees and giving them an opportunity to learn the tricks of the job, which will enable them compete fairly in the corporate world (Crowther and Rayman-Bacchu 169).
In conclusion, this paper has shown that corporate social responsibility is a vital element for nay business corporations. It has been shown that there are many different areas in which a company may choose to focus its corporate social responsibility. The first area of focus in corporate social responsibility is with regard to the environment. Other areas that should be considered in the development of corporate social responsibility programs are education, health, nutrition and employment. “Social responsibility investment combines investors’ financial goals with their obligation and dedication to factors that ensure the well being of society such as environmental friendly practices, economic growth and justice in society” (Anderson 9). These elements are not only aspects of corporate social responsibility, but also a show of the ethical standards of a company. It is unethical for some individuals to own so much and earn so much, at the expense of other suffering members of society. It is also unethical for companies to engage in environmentally degrading practices that result in illnesses and loss of life. It can be concluded that Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all business.
Anderson, Jerry. Corporate Social Responsibility: Guidelines for Top Management.
This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.
Westport: Greenwood Press, 1989. Print.
Banerjee, Subhabrata. Corporate Social Responsibility: The Good, the Bad and the Ugly. Northampton: Eward Elgar Publishing, 2007. Print.
Crowther, David and Rayman-Bacchus, Lez. Perspectives on Corporate Social Responsibility. Burlington: Ashgate Publishing, 2004. Print.
Werther, William and Chandler, David. Strategic Corporate Social Responsibility: Stakeholders in a Global Environment. Carlifonia: Sage Publications, 2006. Print.