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Ethical behavior in management
Business Ethics in Today's Corporate World
Ethics and corporate performance
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Recommended: Ethical behavior in management
Corporate Social Responsibility (CSR) is one of the most recognized aspects in the world today since companies’ reputation is judged from its CSR policies, quality of its services and products and competitiveness. Many authors relate CSR with ethical conducts in businesses. Many authors therefore give related definitions for both CSR and ethics. Corporate Social Responsibility can be defined as continued commitment to ethical conduct, to provide and contribute to high living standards of the society by facilitating economic developments and improving the standards of living of the employees together with their families, their society and community at large (MallenBaker.net 2011).
Green Marketing on the other hand relates to production and manufacturing of products that are environmental friendly, and their packaging should also be environmental friendly or rather the products should have environmental benefits (About.com 2011). Companies started using this policy after Non-Governmental Organizations (NGOs) and governments started insisting and pressurizing companies to sell only the goods that are environmental friendly as a reaction to increasing rates of global warming and pollution. It was also caused by the increased awareness by customers and people in general. People started valuing environmental friendly goods due to the increasing threat of global warming that has already affected some countries like Baghdad in the Middle East. However, many companies are known to talk and implicate they are selling environmental friendly products but in practice they are not.
According to Fortune Magazine, BP Africa is one of the top 500 companies with the greenest products. Fortune magazine claims that BP Oil Company was the first Oil ...
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...ill from the public entices the consumers to be happy with being associated with BP.
List of References
About.com 2011. Green Marketing. Retrieved From:
http://sbinfocanada.about.com/od/marketing/g/greenmarketing.htm
BP P.l.c, 2011. BP ranked Top Greenest Companies in the World.
Retrieved From:http://www.bp.com/genericarticle.do?categoryId=9018984&contentId
Cable News Network, 2011. Beyond The Bottom line. Retrieved From:
http://money.cnn.com/magazines/fortune/fortune_archive/2006/10/30/8391850
Forbes.com, 2011. The global 2000, Retrieved From:
http://search.forbes.com/search/storyTypeSearch?storyType=Special+Report
MalenBaker, 2011. Companies in the News.
Retrieved from: http://www.mallenbaker.net/csr/CSRfiles/bp.html
MalenBaker, 2011. Corporate Social Responsibility-What does it Mean?
Retrieved from: http://www.mallenbaker.net/csr/definition.php
One thing is for sure, large number of companies are starting to face problems and trying to come up with solutions to this crisis. Many suggestions have been made towards companies and some include changing more environmental friendly supply chain. (Carbon dioxide supply chain reporting in a Swedish multinational corporation, 2010). Swedish multinational corporation Entra has stated the fact that there is a relationship between their costs and energy sourcing. Since they are sometimes supplier to their suppliers, the environment pushes Entra and all organizations to look into how they can influence their supply channels. BP Amoco as many other companies, have set a target on reducing Greenhouse gasses. One step that they took was...
With annual revenue of US $19.02 billion, Chevron Corporation is the 16th largest integrated oil and gas energy company in the world. Globally they account for a workforce of approximately 62,000 (Forbes 2011). In 2010, the company produced 2.763 million barrels of oil per day (Chevron 2012). Corporations as large as Chevron owe a great amount of responsibility towards the society and environment above and beyond the economic and legal obligations. The industry is strongly linked to environmental scandals and companies make various efforts to address these issues (Farache and Perks 2010, 235). The following thesis will review the Environmental performance of Chevron in terms of fulfilling social needs within society and stakeholders.
Young, D. (2012). Green Marketing & Marketing Ethics, Room 009, Block 17, Middlesex University Dubai. (25th March, 2012)
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...
BP has a competitive advantage in 1) cost reduction strategy, 2) sales and marketing, 3) process innovation, and 4) research and development. BP has an absolute disadvantage, but also has a comparative advantage, in producing oil. Exxon, one of its main competitors, continues to produce more
Beschorner, T (2012, Sep 30). What is Corporate Social Responsibility (CSR)?. retrieved May 6, 2014, from YouTube Web Site: http://www.youtube.com/watch?v=E0NkGtNU_9w
As already discussed, cost cutting is what put BP in the position they were in. Bp tried to convince the community, and themselves for that matter, that they were green and environmentally friendly. However, this study displays both a marketing and incentivised pursuit.
To help further explain these misleading claims, a well recognized company by the media is called Terrachoice. “The Terrachoice Environment Marketing Consulting practice converts knowledge of markets, science and marketing into winning, client-centered solutions to help sustainability leaders deliver results” (“The "six sins," 2007). Terrachoice has conducted a study of the “Environmental Claims in North American Consumer Markets” and found shocking results that made them want to give warning to potential consumers about the ‘six sins of greenwashing. The Terrachoice Company was designed to improve the communication between the purchasers and consumers, helping to enhance, strengthen, and prove market relationship.
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.
BP is not alone with its marketing practices. General Electric (GE), an American firm and among the largest in the company, frequently exploits the green image to push its own brand. While on the cutting edge of developing renewable energy technologies, GE pushes its business at the expense of natural dignity. The earth becomes a giant problematic marble, hurtling through space, according to GE’s advertising, and GE knows how to fix
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...
From last few years there are plenty of good companies telling their environmental stories to the world and even some who are not but should be. Some do it well; others do not know where to begin or how to go about it. There are a few tips on what to look for by a customer who does not get greenwashed.
Corporate Social Responsibility (CSR) is a commitment of businesses to developing policies that incorporate responsible practices into daily business activities to improve the wellbeing of the society. Many people are constantly debating whether or not CSR should be legally recognized or not. Some people think CSR should not be enforced at all and they think CSR is interfering with the laissez-faire, as it is to create an environment in which businesses are not free from government intervention. People who support CSR say that CSR helps increasing business profit for owners and at the same time it improves the quality of life of businesses’ employees, communities and the society. This paper will seek to prove that CSR is valid means of promoting workers rights, labor rights, consumer protection and respect for local communities as well as discussing the impact of CSR on society.
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
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...