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Relationship between ethics and corporate social responsibility
Link between ethics and corporate social responsibility
Relationship between ethics and corporate social responsibility
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1. Introduction
1.1 The Software Industry
The software industry was launched in the 1950’s where computers began to be used for business applications and it then it rapidly started creating a huge demand for people with experience in programming (Anon 2007). Over the years the industry went through a number of changes and innovations, with software products coming into the market for the first time in the 1960’s, to commercial laptops being developed in the 1980’s and 1990’s (Wikipedia/CRM 2008).
1.2 Ariel Systems and CSR
The UK based organization, Ariel Systems, is the market leading supplier of Customer Relationship Management system software. The firm is present in over 40 countries worldwide and employs 20,000 people. With an annual turnover in excess of 2 billion pounds, the company is very profitable and is in a very healthy financial state (Burns-Nurse 2008). The Board of Ariel Systems now wants to look at whether being Corporate Social Responsibility/Ethically Marketing oriented will move the company forward into the future.
Corporate Social Responsibility involves looking at the good of the wider communities, locally and globally and not only the company’s customers and profitability. Marketing and being Socially Responsible deals with ensuring that organizations handle marketing with utmost care and responsibility. This has to do with such issues as marketing to children and the environmental impact of the firm. One way to put it is the CSR organization should “strive to make a profit, obey the law, be ethical, and be a good citizen” (Brassington & Pettitt 2007: 13).
2. Internal Analysis
2.1 Functional Areas
The main internal functional areas of an organization include finance, human resources, research & development, production, and marketing (Brassington & Pettitt 2007: 19). These departments provide the foundation for an organization to develop and mature.
2.1.1 Finance:
The financial area of the organization typically provides the financial plan for the firm and oversees whether the objectives set out by the CEO are financially achievable. Such objectives can be anything from expanding the company to other countries by setting up branches and sister firms, to whether the company can afford to buy up smaller companies. The finance function also generally sets out budgets for the other departments early in the financial year and it insists on the other functions to stick to them. The financial function wants pricing to cover the organization’s costs and contribute towards its profits (Brassington & Pettitt 2007: 17-18). The financial sector must abide to corporate responsibility and ethical obligations when recording the firm’s financial health in regards to the financial reports given out to investors and the public in the end of the fiscal year.
Corporate social responsibility (CSR) invaded the corporate world over the last few decades. This concept has become an essential need for competitive advantage unlike its original role as a nicety. The companies have seen the business benefit of the initiative and stakeholders have appreciated the initiative. This has led to the wide application in the firm’s operational agenda.
Corporate social responsibilities (CSR) have a different meaning in different company but in my view CSR is the concept which is the ability one of the companies can do for society. As the company responsibilities toward the society and environment in the way operate their business. CSR is about how companies manage the business processes to produce an overall positive impact on society. CSR also known as a “corporate citizenship” and with do that CSR is not provide an immediate financial benefit to the company but promote positive social and environmental change. (www.investopedia.com/terms/c/corp-social-responsibility). CSR is a high profile nation which the business world perceives as a strategic (Economist, 2008; Porter & Kramer, 2006)
Finance has to make sure that there is enough funds in the bank at all times. The Finance Department has to communicate with each department. Finance is the part of the company that can give production enough money to more capacity, tell Marketing a budget for the year and ensure that the Research and Development team has enough money to do quality research on the products. Even though all the departments have to work together in some capacity, it's the Finance Department that is the glue to the company. Their relationship to each department is crucial because if the Finance team cannot communicate well with a certain department then every department is impacted to some capacity.
Corporate Social Responsibility is the obligation from corporations to utilize their resources to aid and benefit the larger society. The four components of CSR are economic, legal, ethical, and philanthropic. Social Responsibility is a fundamental force in the wealth creation process. If correctly demonstrated, CSR should heighten competitiveness and boost the value of wealth creation to society. A company's CSR Initiatives directly represent who the company is and what it believes it. The m...
Corporate Social Responsibility (CSR) is the way a corporation achieves a balance between its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations. In general, when firms hold this wider encouraging role on the public by being engaged with stakeholders, a variety of profit can be produced for both company and the stakeholders. A key inclination is the combination of Corporate Social Responsibility (CSR) into the organization strategy, culture, mission and communications. By incorporating corporate citizenship into the company it is no longer an additional “nice thing to do” or something made to obey laws or regulations. Instead, corporate responsibility has become something business leaders and workforce want to engage in, frequently because executives who believe in the long-term see business profit. The four types of social responsibilities a...
Corporate Social Responsibility (CSR) is about how companies manage their business processes to produce a positive impact on society. Companies introduce new products in markets, usually after testing concludes that the product is safe for use or consumption. It is nearly impossible for a company to truly know all of the potential risks a brand new product may have, even after thorough testing. However, once a company receives reports that its product may be causing harm to consumers, it is their responsibility to conduct more research and tests to rule-out any possible truth in the reports. This is what a socially responsible company would do, one who is preoccupied not only with their bottom-line, but one that is also worried about its customers.
Corporate Social Responsibility (CSR) is the set of regulations that an organization makes to protect and increase the society in which it functions. There are three areas of social responsiblity: Organizational stakeholders, the natural environment and general social welfare.
Corporate social responsibility (CSR): is a business method that gives back to the community through sustainable development by delivering economic, social and environmental benefits for all
According to Mike Peng, Corporate Social Responsibility (CSR) is the consideration and response to issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with traditional economic gains the firm seeks. CSR is a way in which a company seeks to achieve a balance between profit, environmental concerns and social imperatives. This is known as the ‘Triple-Botto...
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
Corporate Social Responsibility (CSR) is a very familiar term in today’s world. Most of the successful companies try to be ethical and socially responsible toward their stakeholders. Because becoming ethical and socially responsible gains a lot in terms of profit or capturing more market share (Aras and Crowther,2009). This socially responsible approach is paved by the CSR activities of the companies which has a great contribution to their corporate strategy of winning the customers’ mind. In this assignment, the pros and corn of CSR activities of a particular organization a...
Business organizations regularly run into demands from various stakeholders groups when conducting day-to-day business. These demands are generated from employees, customers, suppliers, community groups, governments, and shareholders. Thus, according to Goodpaster, any person or group of people that can shape or can be shaped by attainment of the objectives by an organization is considered a stakeholder. Most business organizations recognize and understand their responsibilities to these groups and endeavor to honor and fulfill them. These responsibilities are often communicated to the public by a statement of principles or beliefs. For many business organizations, corporate social responsibility (CSR) has become an essential and integral part of their business. Thus, this paper discusses the two CSR views: the classical view and the stakeholder view. Furthermore, I believe that the stakeholder view has brought ethical concerns to the forefront of businesses, and an argument shall be made that businesses would improve both socially and economically if CSR, guided by God’s love, was integrated into their strategic planning.
Corporate Social Responsibility is management’s obligation to protect and promote their stakeholders welfare. Social Responsibility is more than just obvious ethical issues like honesty and integrity in business dealings.
However, there can be more definitions about what Corporate Social Responsibility can be. For example, Corporate Social Responsibility can be the commitment which is continuing for a business to behave ethically and bring to economy the development to improve the workforces’ of the whole society and local community and their families’ quality of life. Corporate Social Responsibility is also known as the obligation of a company to serve the society’s interest and of course its own. With the help of the Corporate and Social Responsibility, social and environmental concerns companies can integrate into their business and stakeholders operations.
Now-a-days it is considered that CSR is one of the major concerns of organization’s business ethics. Companies increasingly increase their corporate social responsibility (CSR) and ethical management accepting the positive impact on the bottom line. The vast bulk of Standard & Poor’s 500 companies publish sustainability reports unfolding their program challenges and achievements. These pre-emptive efforts can pr...