Journal of Business Ethics, Volume 116, pp. 689-701. Shen, . C.-H. & Chang, Y., 2009. Ambition Versus Conscience, Does COrporate Social Resposibility Pay Off?
This will be done by outlining some of the basics through the explanation of some terms underpinning CSR and managerial involvement. An explanation of how CSR is an essential part of business language. This will then be followed by a breakdown of the complex framework that CSR is believed to have. The social expectations that consumers have of business, and ways those businesses can meet these expectations will be addressed. Then an outline of the role management plays in the incorporation of socially responsible attributes to a corporation will be expressed, evidence to suggest that ?if this means that there a social contract that requires business to honour a moral bare minimum, then a business manager is duty-bound to obey it?
Profit maximising assumption is based on two premises, firstly that owner is in control of day-to-day management of the firm and secondly that the main desire of owners is to make a higher profit then the amount they invested in the firm. Since this assumption is based on two assumptions, therefore if these two premises don’t hold is it understandable to believe that firms goals is not to maximize profits. Well, this will depend on the motivation of individual firms. If a firm’s ownership and control are in the hands of a single person or small groups of people, then it’s reasonable to assume that the firm’s owners’ goal is to maximize profits. But most of today’s firms are owned by shareholders and other large cooperation, but day-to-day control of the firm is under management.
Porter along with Mark Kramer. In this article, the authors emphasize on the importance of creating shared value on the strategic level of an organization vs corporate social responsibility which is viewed a separate moral obligation for the sake of company’s reputation and making profits. According to the authors, shared value must be embedded into the core value and strategy of business. What the authors of the article are implying is that awareness of social economic challenges is growing making them clearly visible. Businesses and their legitimacy are now viewed as part of the problem.
The effect of corporate social responsibility initiatives the consumer Research Question 1. What’s the consumer’s attitude to CSR? 2.What the Relation between CSR Initiatives and the Consumers? Introduction Corporate Social Responsibility is a kind of management concept, namely the enterprise to integrate their business operations of the social and environmental concerns and interaction with their stakeholders. Corporate Social Responsibility is usually understood to be achieve economic by the company, environmental and social are urgently need to be balanced, at the same time it solves the shareholders and their expect.
The above statement is an adaptation of how business executives may act in a way that violates ‘shareholder primacy’. I disagree with the statement made as I feel that in fact businesses have a moral obligation to serve all stakeholders and not just maximise profit for shareholders. I will be enhancing this position through introducing the models relevant to corporate social responsibility, and by; discussing, evaluating and refuting the two strongest arguments that support the moral minimum model and finally evaluating two arguments that are in favour of the stakeholder model. My position will then be further enhanced by attempting t... ... middle of paper ... ...es. I have done just that by refuting the two strongest arguments for Shareholder Primacy, by evaluating the two strongest arguments for the stakeholder model and rebutting any counter-arguments to them.
For the purpose of this paper... ... middle of paper ... ...., Fraedrich, J. & Ferrell, L. (2013), Business ethics & social responsibility. [OMM640 Custom edition] Mason, OH: Cengage Learning Forsyth, D. R. (1992). Judging the morality of business practices: The influence of personal moral philosophies. Journal of Business Ethics, 11(5), 461.
95-101. Rich, V. (2007). Interpreting the Balanced Scorecard: an investigation into performance analysis and bias, Measuring Business Excellence. vol. 11, no.
Kohls, J. and Buller, P. (1994), ``Resolving cross-cultural ethical Strategies’' Found in: Journal of Business Ethics, Vol. 13, pp. 31-8. 4. Ferrell, O.C., Fraedrich, John, Ferrell, Linda: Business Ethics-Ethical decision making and cases, 7th Edition, Copyright 2008 Published by: Houghton Mifflin Company 5.
As the world become more globalized and civilized, it is important for any company to contribute to do the social responsibility beside their main purpose of making profits (Erhemjamts, Li, & Venkateswaran, 2013; Otubanjo, 2013). This paper aims to provide a description of corporate social responsibility (CSR) associating with its tremendous effects on international business both positively and negatively. In addition, the paper as well contains discussion about both shareholder’s and stakeholder’s point of views on corporate social responsibility as there have been quite a few controversial about their benefits when implementing CSR. Finally yet importantly, the research will examine several difficulties and counterpart ones of any international organizations wanting to apply CSR in an effective way in Vietnam. Corporate social responsibility is generally known by Western countries as a desire of a corporation to contribute to stakeholders beyond their duty, to be specific, the manner of treating the employees, the extra benefits for the customers and community in general.