Essay on “Corporate Social Responsibility and Ethics”

Essay on â€Å"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. 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. â€Å"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. 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. Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all  busines ses. 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. 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. 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. 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. 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. 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. 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. This is because even though the companies are somehow at a loss, the fir ing 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. 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. 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. 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 reasonable prices. 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. 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. 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. 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. As aforementioned, corporate social responsibility involves activitie s 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. 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. 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. 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. 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 th e 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. 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. 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). 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. 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. 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. 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. 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 their jobs. 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. In the financial and corporate world, corporate social responsibility is  given with a positive impact on performance. There are, however, several factors that show the need for corporate social responsibility. 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 1 65). 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. 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 for 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. While these benefits are v ital 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. Corporates 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. â€Å"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. Works Cited Anderson, Jerry. Corporate Social Responsibility: Guidelines for Top Management. 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.

Notes On Market Structures And The Elasticity Of Demand...

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Article Summary free essay sample

Kappa Delta + 1 Hayley Williams, Lauren De Leon, Sam Thopmson, Beth Frazier Andy Miller Marketing September 16, 2010 Reference: Reynolds, J. (2010, September 14). Nestl © in review of gold blend couple strategy. Retrieved from http://www. marketingmagazine. co. uk/news/1028154/NestlE-review- Gold-Blend-couple-strategy/ Article Summary: The article Nestle in Review of Gold Blend Couple Strategy reviews the possible future of a past advertisement to see if it will market as well today as in the 1980s. In the 1980s, Nestle released a series of commercials featuring a will they or wont they ouple who were neighbors. The commercial saga depicts the ongoing relationship between the neighbors and their interactions with each other. The commercial saga was so successful that in the late 1980s, thirty million viewers tuned into to watch the couples first kiss. Now, Nestle is bringing back the commercial hoping to place feel on the advertising of their Gold Blend Coffee. Nestle is now discussing a new way to create the same effect as the original Gold Blend Coffee couple in todays marketing atmosphere. We will write a custom essay sample on Article Summary or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Article Relatedness: This article relates to information pertaining to companies being aware of their target markets wants and needs. Nestle is doing research in order to find a fresh way to introduce the same couple, since in the past, the couple provided so much success for the company. Nestle needs to take a good look at their target market of today, while making a new advertisement strategy, since the target market has changed since the late 1980s. While Nestle reviews the advertisement, they need to be aware of their competitors and the strategies they are using. When the campaign first egan, it was easier to reach their target market because there were limited channel options. However, today, they must consider how to reach their target market because of the amount of channels and advertisements from their competitors. Article Usage: This article exemplifies that a company must be fully aware of their target markets wants and needs or the company will not be successful. Companies must research their target market in depth so the company can meet their expectations. It also shows that a company must evaluate the success of their endeavors, in order to see if they are achieving their objectives.

Looking in the Mirror free essay sample

In my parents’ bedroom, prominently displayed on one wall, is a three-sided mirror. As a child, I used to love jumping on my parents’ bed with my eyes fixed on my image that was reflected three times by this mirror. Although I no longer abuse their poor mattress, I still look anxiously for my image, a reflection of me both inside and out. Just as the mirror has three facets, so too does my life the unchanging glass of the past, the malleable glass of the present and the hidden glass of the future. What did I see when I looked in the mirror as a child? I saw my father, an Italian who immigrated to America at 30, a hard-working man who quit school at 14 to work a physically demanding job in which he is still employed. He is truly a self-made man who came from bitter poverty and now supports his family. We will write a custom essay sample on Looking in the Mirror or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He came here to claim his share of the American dream. His heart is still in his homeland, Italy, however. Although as a child he was poor, he was surrounded by a loving family. When I was growing up, spending time with my mother and me was his utmost priority. I learned Italian as my first language so that I could communicate with him and my relatives. I have fond recollections of my father teaching me about Italian culture through stories and folklore, or cooking amazing meals. I have grown up embracing my Italian heritage. What do I see when I look in the mirror now? I see a strong, confident and hard-working Italian-American young woman. My achievements have all been the result of hard work, a value instilled by my family, and my own talents, which I have nurtured. In addition to excelling in the most difficult school curriculum, I tutor students in math, science and language. I lead both my school newspaper and math team and am an active member in many clubs. I have amassed over 300 hours of service in the last year. I strive to make my community, my family and myself proud. What does the final mirror, my future, show? That remains to be seen, but I know that within me lies the strength, the heart and the persistence to achieve my goals. I cherish my education, since learning is the foundation of my life and will enable me to reach my potential. I treasure my schooling, especially because so many of us, including my father, have yearned for educational opportunities. I carry the hopes of generations of my family. To my knowledge, no relation has ever been awarded the title of doctor and I would like to be the first, either as a medical doctor or by earning a doctorate in chemistry. I plan to continue community service to give back to the community that has enabled me to be who I am. My Italian values and pride will also continue to shape my life.