between what’s legal and what’s socially unacceptable. It is becoming more and more important for organisations to consider many more factors, especially ethically, other than maximising profits in order to be more competitive or even survive in today’s business arena. The first part of this essay will discuss managerial ethics[1] and the relevant concepts and theories that affect ethical decision making, such as the Utilitarian, Individualism, Moral rights approach theories, the social responsibility
Corporate Social Responsibility, some may say it is an organization's duty to behave in an economically and environmentally acceptable manner but there is more to it that just that. A company has a duty to its shareholders, the duty to maximize benefits and avoid trouble, a responsibility to the employees and others who depend on that company for a living , and last but not least they have the duty to create a safe environment for everyone. A Civil Action by Jonathan Harr depicts a civil lawsuit
Corporate Social Responsibility: Who Decides What’s “Responsible?” 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? To start with, this author needs to establish a few things
The model that I would like to adopt for corporations to act in a more responsible manner would be that of a structural model. Keying in the importance of corporate constituency elements such as; senior management, shareholders, employees, creditors and most importantly consumers and communities in which how corporations functions. In my approach the structural model attends to the immediate impact of particular choices to favor the interest of one constituency over those of others. Its emphasized
to know what’s going on so we can better informed. In their eyes what we don’t know won’t hurt us, but in actuality it does In Friedmans “The Social Responsibility of Business is to Increase its Profits.” Friedman argues that the manager is an agent of the shareholders, responsible mainly for the profit they seek, and for following the rules of society, being both legal and ethical, meaning they there is no fraud or coercion and there is free competition. He considers the talk of “social responsibility
like truth, justice, honesty, loyalty, etc.” –Nieuwenhuizen C & Oosthuizen TFJ What is business sustainability? “Business sustainability is defined as managing the triple bottom line, which is the process by which companies manage their financial, social and environmental risks, obligations and opportunities” which is done through focusing on the people, planet and profit. Ethics and values are seen as one of the most important things required for a business to be successful and sustainable. This
Responsible Corporate Leadership In 2006, there was the biggest mud volcano on Indonesia which was affected by the gas well drilled by PT Lapindo Brantas. According to Lapindo Brantas, Inc., the company focuses on oil and gas exploration and production in Indonesia, operating under a Production Sharing Contract with the Government of Indonesia in an area known as the Brantas Block in East Java. In accordance with Hastuti, H. (n.d.), the mud flow caused sixteen villages and three sub-districts
decisions should be made with the thought of the business in mind because everything you do affects the business in the long run. The three approaches that can lead to a successful would be duty –based ethics, outcome-based ethics, and corporate social responsibility. If you have people stealing from the business or if you are stealing from the business it will never be successful. Duty based ethics, are derived from different things and I believe that they play a major role in revealing a person 's
Corporate Social Responsibility Corporate Social Responsibility (CSR) is a very controversial topic. A question that has been debated for the past few decades is; is it corporately viable to introduce social responsibility as a proposed addition to the work ethic of business organisations. As well as, if adopting the framework of corporate social responsibility would yield positive improvements for those organisations. The purpose of this essay is to research the notion of CSR and uncover
FALLACIES OF CORPORATE SOCIAL RESPONSIBILITY INTRODUCTION In a contemporary world, a business-society relationship has evolved well beyond a simple business model to a much broader - socially responsible - corporate stewardship. As of this result, Corporate Social Responsibility (CSR) emerged as a concept that encourages companies to be ethical and responsible with the environment it operates in so as to wider impact on society. Though, CSR is now argued so widely as to have become a subject matter