Ethics: What Is Corporate Social Responsibility?Essay Preview: Ethics: What Is Corporate Social Responsibility?Report this essayEthics: What is Corporate Social Responsibility?MGMT 351: Principled Leadership Instructor: Theran Muggleston Tusculum CollegeBy: Deanna BranhamAbstractCorporate social responsibility as defined by Ford (2013) 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. This paper discusses corporate responsibility, and how companies can rise above immoral acts. In addition to discussing corporate responsibility, this research looks at Pope Benedict XVIs paper “Caritas in Veritate”. “Caritas in Veritate” discusses business ethics and scripture, and how it relates to ethics in businesses as well as how consumers affect a business bottom line. The ethical example used in this paper is Toyota, and their decision to hire former federal investigators from the National Transportation Safety Board, who disregarded consumer safety by putting shareholder value above corporate responsibility
Ethics: What is Corporate Responsibility?Our founding fathers developed our constitution using morals and ethics, which we could refer to as “principled leadership”. Their moral compasses were guided by their religious beliefs. Although church and state operate separately, our civic leaders are free to use their religious beliefs to guide them when placed in ethically arduous situations. Do Biblical principles belong in the world of business? Many people disagree with Biblical principles being used to solve problematic situations in a professional setting. Ethically, in addition to providing a first-rate product to their consumers, business executives have an obligation to maximize stockholder wealth, while providing a reasonable salary and a safe working environment for their employees. Over the past decade, Corporate Social Responsibility (CSR) has risen to the forefront of the business community.
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(8) Ethical Considerations for Corporate Reform & Reform StrategiesA major advantage to corporatization, is that it brings about the creation of a broad culture that is a reflection of corporate culture, as opposed to the traditional approach, that promotes ethical behavior. Although it is necessary to have an ethical system of practice, it is important to consider how to create new ethical practices that reflect the public’s understanding of the culture and business.
An ethical set would represent a variety of practices and practices for organizations, especially organizations with less traditional and centralized control over business processes.
A public service like paying taxes on your salary would be highly ethical and would also provide additional benefit to the taxpayers; however, a company with a publicly-owned office could be held legally accountable.
Companies that maintain public health programs and pay a higher rate of premiums or health care expenditures would be similarly concerned.
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(9) The Public Benefits Society(PSS) provides programs to assist corporate and state-owned entities in improving their financial performance and reducing their costs of producing and operating businesses in the face of new, disruptive technologies, such as e-commerce. PSS has many different benefits. For starters, PSS seeks to improve corporate business strategies, financial stability, workforce safety, and quality of life. Moreover, a company can choose to use PSS to generate new value and create new businesses. PSSS also has an organizational structure similar to a public utility company, as it ensures quality of life and to the business community.
A public agency with an investment policy of the state or its central government helps small businesses obtain investments that are in the best interest of the state or its central government. However, if a corporation can’t obtain enough capital to invest in a public purpose of its choosing, it cannot receive any capital from the central government. A corporation must choose to do the right thing by getting the tax revenue it deserves.
A public-private partnership (PNP) would be both more efficient and more efficient than a publicly held company because it receives taxes from government revenues.
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(10) PSS is designed to improve the efficiency of a corporation’s economic production, business operations, and government funding. However, the concept is much more complex and complex compared to an ordinary corporation. It is also designed to make it more efficient, with costs reduced or eliminated, as a result of the use of PSS and a higher level of accountability for its business processes. A PSS corporate public service agency, for example, might be tasked with taking care of employees with financial problems and giving them incentives to pay their expenses. In some instances, these incentives can be directly correlated to the level of corporate governance, whereas other companies often lack those attributes. A state-owned corporation has a general public image which makes it attractive to private investors. PSS might also be associated with government agencies and other business bodies, as the government does not currently recognize private ownership and controls the business.
Another benefit of PSS is the fact that its governance is designed so broadly as to offer a general view of the business of a corporation. A state-owned corporation generally is more accountable to its shareholders than a public company in particular, even when faced with changing needs, pressures, or financial uncertainties. PSS promotes a more diverse range of values through a system of governance with many different layers of administration.
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(11) PSS would be a similar model to public health care. The basic concept has changed in recent years as people have begun to realize the benefits of PRS principles
“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” (Ford, 2013, p.52). Theoretically, businesses give their organizations a cultural or ecofriendly façade known as “green washing” (Ford, 2013.) However, those with a genuine interest in CSR argue that companies should seek to do good as well as avoid harm. This can mean investing in renewable energy projects, rather than merely avoiding heavily polluting coal fired plants. It could mean providing training courses for workers that both help the company and help the individual, while also seeking to support local organizations that provide that training. It can also involve investment in water, power, and transport infrastructure that can benefit the company as well as the local community.
Businesses have tried to establish and maintain a more clean, green, and less polluting environment through the development of environmental stewardship plans and policies. Such plans involve a “green plan” and initiatives such as improved local water quality policies, greater infrastructure (such as a river-water system and river maintenance) as well as environmental education that can lead to greater confidence in business environmental stewardship. While CSR recognizes that the “green plan” has a direct impact on the community, it will often include or, at times, even reinforce the negative connotations that negative environmental associations put on the business community due to the positive benefits. When such a green plan is developed, the negative connotations will be more visible and more well realized. For example, when working with small businesses to share their product lines, the negative connotations will only be present when new or improved projects are offered. As such, the goal is to ensure that businesses and community members can be more aware of the positive environmental connotations regarding these products of the Green program/project, while also making business as a whole more proactive about the benefits of CSR. Some businesses may choose to develop a green plan on other issues as well, in order to better engage community members, such as energy efficiency.
Companies whose efforts are aimed at reducing carbon emissions from their businesses are expected to contribute to the reduction of GHG emissions, through increasing awareness, support for cleaner and more environmentally friendly transportation options, and greater use of local resources.
Environmental stewardship policies that focus on reducing GHG emissions could enhance business’s financial viability and encourage the business community to take responsibility for its own activities. For example, there has been an increase in the number of CSR projects and grants in recent years and a significant increase in the contribution of businesses to the management and operational support of the Environment Agency. These initiatives also represent a return to the sustainable role taken for decades by the business community. However, some CSR initiatives do not address and do not include the positive side benefits of CSR. It is important for such businesses to consider the benefits of CSR for the benefit of their own business and others’ needs.
5-11 Organizations that have been influenced by the “Green” initiatives have created their own initiatives to improve the environment.
This section describes examples of businesses that have done business as CSR since 2003 that have made significant contributions to the environment. Some businesses make no effort whatsoever to support organizations that are actively influencing the environment. Such businesses tend to not participate in the local community as part of the organization’s own sustainable efforts, or in the larger global sustainability efforts that it undertakes. Others are involved with a much larger set of events on environmental issues such as the World Trade Organization and other significant events including the G20 Summit and the World Wildlife Fund. Additionally, some of these businesses offer work to community organizations to support that community as part of their CSR projects. For example, some of these businesses support the sustainability of a local community health care system in Texas under the Texas Water Resource Control Act, while others provide services, such as healthcare services, at a lower cost to local populations and employees as a result of efforts committed by their community.
It is worth noting that some organizations have been involved in working with groups that are also involved in CSR.
5-12 CSR: a system of accountability: a community based organization that makes public commitments and provides support to its employees as part of the CSR program. CSR uses a system of accountability to better meet the needs of its employees. Members of the community are accountable for making public commitments to their community and others as well. In developing the CSR program and making its contribution to the CSR community, the CSR organization is also a
Business ethicists question how organizations can rise above corruption and succumb to a level of social responsibility worthy of everyone involved, from the stakeholders to the consumers as well as the community where the organization resides. Whats the business plan?, an article written by Kirk OHanson (2009) explains how Pope Benedict XVI and the catholic church view economic ethics. OHanson states the Pope speaks to the leaders of global business. In the “Caritas in Veritate”, The Pope grieves the rise of business executives in affluent countries as well poverty-stricken countries who consider their wealth a “right”. “The Pope argues instead for the principle of gratuitousness or giftedness, whereby all who have wealth understand it as a gift from God that it must be put to use for the welfare of the people (OHanson, 2009, p.14)” OHanson points out, while the message is important, what constitutes ethical behavior for businesses is not discussed. The Pope also addresses the consumer in his reading. He warns consumers