When I think about social responsibility I think of one’s character. Character is based on morals and beliefs each person has. Knowing ones character is directly related to the type of social responsibility they maintain, therefore informing you of a person’s likely intentions. This holds true for a business.
There is always someone behind every decision that is made, good or bad. As stated in our reading, “all businesses engage in some level of commitment to voluntary activities to benefit both inter and external stakeholders.” Company Q doesn’t realize is that by turning their backs on portions of society, they have closed the door on potential profits, lost existing customers, and further supported crime related activity.
Company Q has
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And like most in today’s society, there are times we all need a little bit of help to get back on our feet. Who’s to say that eventually patrons of the food bank wouldn’t have become patrons of the grocery store even simply due to the company’s generosity?
To improve Company Q’s attitude regarding social responsibility they enact a procedure for donating aged products. Setting up a clear and concise process with checks and balances to ensure staff cannot steal product is key. Showing staff that helping your community is important and therefore, encouraging everyone to help jus the same. Social responsibility could grow exponentially throughout the entire company.
Existing customers typically continue to return to a place of business because they want emotional fulfilment. If a customer knows that they are spending their hard earned money in a place that effects society positively, they feel good knowing they are participating in helping the company give. Take Toms shoes. Every pair of shoes you buy they provide one to a child in need. Who wouldn’t want to be a part of that? Once Company Q starts helping the food bank, they can start providing information to their customer on ways they can join in and help others. Even if patrons do not chose to independently help the food bank, they will determine their help is provided through their shopping experience at the grocery store and consequently, continue shop there over
For 85 years, Publix Super Markets, Inc. (Publix), a nationwide chain, has set the precedent for Corporate Social Responsibility (CSR) and sustainability. With an added emphasis on the past 15 years due to the implementation of their Green Routine program, Publix has become the gold-standard of sustainability, with comprehensive philanthropic initiatives that support and intertwine housing, education, food security, technology, and more. Publix is taking strides to become more sustainable, environmentally friendly, and beneficial to the local community. By breaking down sustainability into 3 core concepts: social justice, environmental integrity, and economic prosperity, an analysis can be made about the current Publix sustainability
So before we go in greater detail on the different perspectives related to social responsibility, one might question the meaning of social responsibility. It is generally agreed that social responsibility is defined as the business obligation to make decisions that benefit societ...
Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society. Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal responsibility-laws that business must obey, ethical responsibilities-behaviors and activities that are expected of business by society, but are not codified in the law, philanthropic responsibilities-represent the company’s desire to give back to society (charietys, volunteering, sponsoring).
In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many purposes for this essay, the first purpose is to descried the key principles of corporate social responsibility and explain their importance for stakeholders. Secondly, is to show how far this company follows those principles in order to be accountable to at least three of its stakeholders. In this essay, three stakeholders, environment, customers and employees will be evaluated respectively and the key principles of the stakeholders will be examined.
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 Responsibilty: Linking Bottom of Pyramid to Market Development?, Journal of Business Ethics, 131(2),
A businesses success is generally measured by its profits. While there was a time in our society’s history where consumers did not care where there products came from or whether or not they were produced ethically, there seems to have been a shift in the last 40 years or so. Perhaps it’s due to the increased amount of media coverage or because younger generations are more informed, but consumers nowadays are placing a high value on and patronize companies who embed some sort of social responsibility into their business model. Let’s take the success of Trader’s Joe. In 2010, Trader Joes began shifting to remove all the products from its stores shelves that were not harvested in an environmentally sustainable manner and by 2012, they achieved their goal. (Brown, 2013) Today, Trader Joe’s is a major competitor in the grocery market industry with nearly $9 billion dollars in sales in 2015. In addition, In addition to providing sustainable food to its customers, Trader Joe’s is also fighting hunger through its food donation programs. In an effort to live out their slogan “Your Neighborhood Store,” the company has long running policy in place to donate products that are not suitable for sale but are safe for consumption. (Brown, 2013) The Trader Joe’s example demonstrates how a business can shift its efforts to be more socially responsible. As they
We can say that both people and companies act almost in the same way: by their self-interest, which is the descriptive claim because this is what is happening in the reality. Based on this descriptive claim now, the canonical view of business social responsibility is trying to identify what we ought to do,in other words it changes this descriptive claim into a prescriptive one. According to this, people have to be self-interested and companies ought to maximize their profits by obeying the law. A corporation is a swan as a society. A well organized society would take care of its citizens.
Social responsibility is the part of the framework of an organization or individual which makes up an obligation to act for the benefit of society. There are many different ways act out social responsibility. The social responsibilities of a business can be classified according to the businesses relationships to the general public, customers, employees and investors. The companies that make their product or service with the rooted mindset of benefiting the community and the world around them do this by providing things like scholarship funds, all natural products, biodegradable storage, and or just by treating the consumer as well as the employees as individuals rather than a corporate dollar sign. Businesses may exercise
The problem that was investigated consisted of a question that Milton Friedman posed in one of his articles, which was featured in The New York Times Magazine in 1970. The question was, “What does it mean to say that “business” has responsibilities” (Friedman, 2007, p. 173)? Friedman (1970) elaborated on how businesses cannot have assigned responsibilities. Furthermore, he described how groups or individuals should be the only ones that can hold responsibilities, not businesses. He stated that associating responsibilities with the word business is too ambiguous. I will examine three discussion questions and three compare and contrast questions which Jennings (2009) posed in a case study that is related to Friedman’s (1970) article “The Social Responsibility of Business is to Increase its Profits”.
Social responsibility – this is where the businesses role goes beyond financial success. The company has to include the providing of a safe work place, housing as well as be aware of health issues. The company also has to involve themselves in environmental awareness as well as community issues (Erasmus et al., 2016. p6-10).
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.
My reflection for this week on the Key Performance Indicators book by Bernard Marr. Sections five talks about employee perspective and section six is on corporate & social responsibility perspectives. I would have never thought of using key performance indicators to measure employee perspectives. I learned this is used more by the human resources managers that have a big responsibility to asses and evaluate the employees hired for their companies. The main goal for any company is to hire employees that will have a high return on investment. What I understand from the assigned reading is that a company must develop a strategic compensation management system that will help them answer very important questions. One is “what must the company
Both of these areas are the lifeblood of the company, and any benefit to them should not be overlooked. Before a company can become proficient at corporate social responsibility, they must first know its definition. Corporate social responsibility is defined as actions that can be taken by a company to ensure they are adhering to ethical and social responsibilities of the day. These corporate social actions are self-regulatory, as a company strives to adhere to guidelines while also going above and beyond being a Good Samaritan in the business world (ECA, 2015). This can place certain businesses at the forefront in customers mind because of the example they are setting in the marketplace. A company going above and beyond the call of duty to work towards a more philanthropic approach in the surrounding community is a perfect example for corporate social responsibility. Going deeper into the definition, corporate social responsibility acts like a “double bottom line” for a company, as they strive to achieve financial goals, but also achieve their social mission out in the community. Once a company is aware of what the concept of corporate social responsibility is, they can now implement it and start to reap the many benefits of its
Business ethics and social responsibility are two concepts many individuals believe go along together for corporations in the business environment. Business ethics are the moral values a company uses to ensure all employees action in a standard manner when completing business functions. Social responsibility is typically a conceptual theory that governments and the general public hold, believing that businesses should not conduct themselves in a manner counter to cultural or societal norms. The connubial of these concepts happens when companies introduce a written code of ethics to demonstrate that the company only acts in its greatest interest so long as it does not damage the company’s social responsibility.