Not only do socially responsible corporations perform better in the long run, they last longer. Critics of Corporate social responsibility believe that socially responsible corporations are n... ... middle of paper ... ... in the world.” (Humes 2011, 117) Wal-Mart developed its own Personal Sustainability Projects which was based around supporting its employees to live a sustainable life. Wal-Mart was clearly demonstrating a social responsibility to both its workers and the environment. Several influential businesses including Wal-Mart are taking their social responsibility to their workers and the environment seriously and could be considered a bold move by shareholders since it is profitable, thus contradicting Milton Friedman’s arguments. Corporate social responsibility is and must be applied because it is a strategy essential to a business that wants to succeed in this economy.
This new Nasdaq rule is suppose to make investors and the public aware of what is happening with the company weather its conflict of interest or other corporate abuse. They also believe it will give investors more confidence in the companies that they invest their money in. The new rule should prevent a bad company from showing dishonest behavior. Many agree that there will not really be a change for companies that are doing business correctly already. All it really will do is show the public who the bad companies are and see them as they are put to justice.
I believe the presence of working women has strengthened our economic system, as Harris said “successful campaigns for the expansion of girls’ education and employment have coincided with a restructured global economy and a class/gender system that now relies heavily on young women’s labor” (6). It shocks me that women used to be expected to be a housewife and depend on their husband to provide for the family. However, just because women are more independent today does not mean they are radical feminists who cannot love, Weiss describes how women “should reject those relationships that demand or contribute to our subjugation… this does not mean…that we are not very loving” (12). Being independent is important but women still value all of the aspects of relationships and friendships, they are just now able to go and accomplish their goals without judgement. There have been so many discoveries and research done by women that have influenced modern day science that would not and could not have been done if women were not encouraged to be curious and seek higher education.
So it’s possible they need to be addressed after the investors. It sort of goes by that saying “the sweaky wheel gets the oil” what could do the most damage needs to be repaired, fixed or in this instance addressed first. The employees needs the company, they are more likely to be co-operative. However, what a thing to do to your hardest workers who have been trying to benefit the company all along. So the most useful strategy I can think of is keep the investors pacified and investing money, keep the employees happy so they will continue to do a great job.
(2) Why should firms undertake corporate social responsibility? Corporate social responsibility (CSR) is a business approach that creates long-term shareholder value by embracing opportunities and managing risks derived from economic, environmental, and social developments. A CSR policy functions as a self-regulating mechanism whereby business monitors and ensures its active compliance with the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, and stakeholders. Customer social responsibility can build the loyalty and trust that both ensure a bright and sustainable future in business.
There was no great improvement when compared to the old model, no; the corporation knows that it will sell, no matter how small the improvement. This model of constant obsolescence has become the norm in the economy today; companies reap profits with mediocre products, completely uncaring of the consumers. To put the economy back in the hands of the consumers, a system of deregulation must be enacted to allow the marketplace to be run once again by consumer interest. Adam Smith theorized that the economy could be run entirely by consumer interest in his book The Wealth of Nations. Smith has become labeled by many as “the father of modern economics,” however his policy is quite simple, there should be a hands off policy by the government.
Introduction In today’s world, different types of business have emerged and business operations have become the cornerstone of making a success, however the way in which they are operated is what is important. Most businesses hunt the main objective of making a profit without considering how that might affect other factors of society and that is what in most cases diminishes the longevity of the organisation. This research is compiled to explain how good ethical practices and good values in business can yield sustainability within the business and the society as a whole and in order to do this the concept of ethical business practice and values have to be understood. Decades ago, the perception of ethics and values in business practice has always been associated with business failure as entrepreneurs had the “eat or be eaten” mind set – which in essence means that one must do whatever it takes to reach the desired goal, which in the case of a business means that the businesses has to make a profit no matter the cost. As the standard of living advanced so did the ways of doing business – business ethics supervened.
Also the people that control the economy are very successful businessmen that usually tend be very smart and make wise decisions when it comes to our economy, however those people are also very m... ... middle of paper ... ...nd theory goes along directly with capitalism. The theory is that through capitalism and no government involvement the economy will forever build itself and stay stable through free trade, the common demand for goods and services, and people working hard and educating themselves to climb the economic latter. Through this theory it is possible that the economy will correct itself and build back up with out the governments participation in it. The economy in America is based off capitalism. With that being said if the government limits its involvement, lowers taxes, makes spending cuts, and lowers our debt and budget deficit then the economy should eventually recover on its on.
This model believes a company is responsible not only to its stockholders but also other s... ... middle of paper ... ...responsible policies and corporate culture improves a company’s image and reputation, thereby attracting the most highly skilled and qualified employees on the market. Company Q has been operating under the ideal that it has no responsibility to its stakeholders only their shareholders. This model of corporate governance is unethical, and harmful to both the company and the community. Company Q’s implementation of the above measures will improve its reputation and image allowing it to reap the benefits of being a good corporate citizen. Works Cited Ferrell, O. C. (2010).
For the garment manufacturing women development of skills and their knowledge is firmly related to the conditions in which they work. All that female employees are asking for is liveable wages, to be able to working in a safe environment and that they have job security. (Fashion Revolution, 2018) That being said employees are an integral part of a business, without equality and diverse employees your products run the risk of being inferior to your competitors. Giving women promotions and allowing them to work their way up in the business to managerial positions will increase the businesses bottom line by appealing to a wider customer base. That being said promoting equality in the business will allow for employees to experience a variety of skills and knowledge that they are then able to add to their own skills base.