Contemporary business is one of the most important factors to promote social development and six elements have significant influence on it. They are corporate social responsibility, technological paradigm shifts, financial market, legislation, environment issues and business ethics. Corporate social responsibility is called CSR for short. The definition of CSR is companies should be responsible for suppliers, costumers, environment and community besides earn profit and responsible for their shareholders. The core of CSR is protecting their employees, including not discrimination, respect different culture. Technological paradigm shifts reflect social development. There are three industrial revolutions in history. Each of them bring science and technology progress rapidly and that has given a powerful propel to the productive force of the world and business, economic and social development of humanity. Comprehensive financial market systems consist of securities market, discount market; insurance market a foreign exchange market, finance and business are independent and mutually primitive. Government makes legislation in order to ensure the interests of citizens are protected. Legislation related many filed such as business, environment, and public services. Environment issues are big problems for modern society. Environment involves many fields, for instance business. Most companies pay much attention on business ethics. Because good business ethics is the basis of cooperation .If companies lost business ethics that means they lost company loyalty. As people all know if companies cannot manage their business with integrity or treat their clients and vendors without respect, they won’t earn partners trust and establish unbreakable ... ... middle of paper ... ...distillation, desalination and ultraviolet disinfection [10]. And Reengineering solutions to global warming are receiving ever more attention, and for good reason. Science reported that top U.S. climate scientists gathered at Harvard this month to explore ways reengineering might lower the global temperature. Mimicking the natural cooling effects of volcanic eruptions by releasing massive amounts of sulfur into the atmosphere is one idea. Another is to increase the planet's reflectivity by spraying seawater on ocean clouds or floating shiny Mylar balloons into low-Earth orbit [11]. At present environmental issues are regarded by all the countries and it is a subject very worthy to be studied. People try their best to find the best way to solve these issues. That is not only benefit for nature, but also good for sustained development of human society. ..
Social responsibility can be defined as “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” (Mallen Baker, 2004). In addition, social responsibility has been defined differently by various corporate leaders that provide guidelines which impacts how one manages the core business. Social responsibility is an essential part of a business. If managed correctly should strengthen the competitive spirit of the company and provide prosperity to society.
The famous scandals facing the corporate world that is Enron and WorldCom brought a lot of disruptions to their operations. This brought about strict government regulations, as a result. This also marked as the reminder for NGOs to begin criticizing MNCs. This brought about ranking that necessitated firms to submit their non-financial performance records alongside their financial performance ones. The media has also become a close checker on companies. This has brought the need for firms to embrace social responsibility in their operations to curb battling with restrictors. Firms have also established good relations with their suppliers both as a prerequisite for effective business and as a social responsibility. (Cetinkaya, 2010)
Corporate Social Responsibility (CSR) is a word that is bandied about with really little regard as to what the full implications actually are. Consider a few thoughts: What exactly is a corporation’s responsibility? Who are the arbiters of CSR for corporations? What does it cost to “rein in” corporations? Why are some companies held to a different standard than others?
The role of business in society has been one of the major topics of discussion over the past few decades. People often have a pre-conceived notion about business that their sole purpose is to generate profit, but there are non-profit organizations that are socially responsible and works for the betterment of the society. A business can be defined as a commercial activity performed by organizations while non-profit entities also engage in business activities for several social and economic causes. Businesses can range from individually owned companies, small/medium sized enterprises to multinational organizations (Investopedia, 2009). In hindsight to the early developments of business, a simultaneous progress is evident in the human society and civilization. During the early days, people engaged in exchange of goods and services between one another which is also called as the barter system. There is also plenty of evidence suggesting that trade was done among different ancient civilizations such as India, China and Egypt (Kumar, 2012). As a result, so many barriers between countries were eliminated and helped to create a strong business relationship between one another. Since then, business evolved into a much organized and advanced entity that has been influencing the society in a radical way. It is important to analyse the different aspects of business and its purpose in the society. Ethics in business, corporate social responsibility, impact of globalization in society and the overall objective of business in society will be discussed further in the essay.
Today in the corporate world various strategies are applied to successfully run and execute transactions. In the recent years, the subject matter of Corporate Social Responsibility has escalated. “Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders” (http://lexicon.ft.com/Term?term=corporate-social-responsibility--(CSR). Communities are demanding that corporations take social responsibility for their actions, and elucidate the process of disposing waste in an environmentally manner to the people. Numerous businesses have initiated Corporate Social Responsibility approach in order to gain benefits, which will allow
Business Ethics is policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility. Business ethics is often guided by law, while other times provide a basic framework that businesses may choose to follow in order to gain public acceptance. Business Social responsibility in companies should support its social responsibilities and not be solely focused on maximizing profits. Social responsibility involves developing businesses with a positive relationship to the society. this relationship to the society and environment in which they operate is a critical factor in their ability to continue to operate effectively. It is also being used as a measure of their overall performance.
Global warming has become on of the most controversial issues in the media today. While most of the Western world countries have generally accepted the premise that man's chemical emissions in the atmosphere can and are affected by the world’s climate patterns, in the United States, the issue has become so politicized with many republicans challenging the science behind the theory. Global warming is a greenhouse effect whereby gases are trapped on the earth’s surface causing it to heat up (Maslin 14). It is based on the worldwide temperature records that have been maintained by human beings through their activities since the 1880,s. In addition, global warming is not only caused by human activities only but also through climate changes in solar radiance. The problem is that, humans continue to contribute to the global warming phenomenon. All citizens should work in reducing human activities that cause global warming and also support the development of nuclear power. Scientists deem that, global warming is mainly caused by human activities which accelerate the natural process by creating greenhouse gases in the atmosphere. Human activities have become a great contribution to the greenhouse effect and this means that climate changes are inevitable. They further argue that, if these activities continue and are not reduced, it will lead to more trapping of energy radiated from the earth and this will likely lead to extreme weather and global warming. Global warming should be at reduced levels or else, it will be catastrophic.
With rising temperatures through the burning of fossil fuels, causing variations within our climate, more is being done to turn ...
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.
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.
...t in becoming more socially responsible corporations. For example, Pos Malaysia through their CSR practices, this corporation had focuses on a dual-pronged approach that is aimed at bringing value to the community and nation at large by the means of enhancing education particularly towards the enhancement of human capital development mainly in underprivileged areas and also Enriching Communities in which Pos Malaysia seeks to promote commerce and entrepreneurship within the communities they serve particularly in rural areas. The above CSR themes are aligned with Pos Malaysia mission to constantly strive to be a caring corporate citizen by supporting nation building and community services. This CSR will focused on the meeting the need and interest stakeholder of an organization by becoming more socially responsible and as well as to improve their image and reputation
In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its
Global heating and cooling has occurred on a cycle for millennia, however in the past thirty years the increased use of energy and fuels by humans has drastically changed this natural occurrence (Juerg, 2007). The largest cause of this warming is the release of carbon dioxide from the burning of fossil fuels. Carbon dioxide levels are twenty-five percent higher than they were in 1957 (UCS, 2013). This seemingly insignificant change has caused a myriad of negative effects. The endangerment of species, rising of sea levels, and increased natural disasters are just a few examples of change brought about by global warming (Juerg, 2007). Even though global climate change presents a massive problem there are many proposed solutions to fix or delay it. These theories range from creating a giant sun shield in space to the simple practice of “reduce, reuse, and recycle” (Gray, 2009). However the most effective solution is to find different sources of fuel to power our day to day lives. The earth is in need of renewable, effective, and long lasting fuels. Global warming can be slowed through the use of renewable energy as it is versatile, clean, a good investment, and can easily be put into place in several different climates and environments.
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...
A company has an economic obligation. It must earn a favorable return for its stockholders in the restrictions of the law. But, corporate social responsibility means that organizations have also ethical and societal responsibilities that go past their economic responsibilities. CSR needs organizations to develop their documentations of their responsibilities to include other stakeholders such as workers, customers, suppliers, local societies, state governments, international organizations, etc. Ethics could be seen as a fundamental component of individual and group activities at the heart of organizations’ errands.