More handpicked essays just for you.
Ethical issues a business needs to consider in its operational activities
Strengths and weaknesses of ngos
Ethical issues a business needs to consider in its operational activities
Don’t take our word for it - see why 10 million students trust us with their essay needs.
According to Luthans & Doh (2015), "the ethical behavior of business and general social obligations of companies have become significant concerns in the U.S. and worldwide". There was a time when scandals and unscrupulous business activities were ignored. However, with the efforts of nongovernmental organizations (NGOs), more attention is given to human and environmental rights. Global companies must take into account those risks associated with operating within international borders. International managers need to understand the political, environmental, ethical and legal issues that arise from their activities in a developing country. Each country has its labor laws, cultural beliefs, different methods of handling ethical issues, and the meaning of social norms. Corporate social responsibility (CSR) is essential for conducting business abroad. Corporations must behave in a moral and socially responsible way in the country of operation. Not being socially responsible can cause the company 's worth to decrease, therefore lessening the stakeholder’s wealth. Also, some shareholders use their rights as a company owner to bring about social change. Some of the issues shareholder activists like to discuss are relevant to the environment, investments …show more content…
(Luthans & Doh, 2015) These organizations focus on protecting human and labor rights, and the environment. The NGOs make a strong argument about the unfair treatment workers suffer in third world countries. Such organizations have more power than the government when it comes to holding multinational companies liable for malpractices. Through the use of social media NGOs can spread the word effectively to the masses, thus initiating reactions and boycotts against companies such as Russell Athletics, Nike, and
must understand the social issues that may have a negative impact on their company. They have a social responsibility regardless of the country that they are in. According to our textbook, Executive Concepts in Business Strategy (2011), “Social responsibility is the obligation an organization (profit-seeking or nonprofit) has to be ethical, responsible, and responsive to the needs of the members in the organization as well as the larger society.” (p. 545) Remember that your period goes after the in-text citation. To support this, Friedman’s doctrine (1970) bout “social responsibilities of business” is that “A corporation is an artificial person and in this sense may have artificial responsibilities, but “business” as a whole cannot be said to have responsibilities, even in this vague sense….the social responsibility of business is to ask precisely what it implies for whom.” (p. 2). All direct quotes >40 words need to be placed in a block quotation. XYZ should have a positive impact on the country by using environmentally safe materials along with not violating any laws by applying for permits and licenses in a timely
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)
Spar, Debora L., and Lane T. La Mure. "The Power of Activism: Assessing the Impact of NGOs on Global Business." Harvard.edu. Harvard. Web. 24 Apr. 2014. .
Acknowledging the importance of non-profit organizations in my life is easily done because of the unforgettable experiences had at a local organization and the impression it left on my life. As by taking part in a local non-profit organization, my mother and I were able to embark on a medical mission trip to Romania in 2006 and 2007. We set out to simply love and grow into a culture of people we knew nothing of, but yet still being drawn together by an awesome God and His mission for us as a people. Devoting our time and love, we also aided many in need with medical necessities: taking their blood pressure, addressing any problems they may have, and relinquishing all medicines that may be needed. Through my experiences, I’ve found that many non-profit organizations work to assist a multitude of hurting individuals through various methods of relief and invoke the initiation of volunteers into action. Although countless individuals have faced negative issues while being a part of such an organization, it is to be said that none can truly fathom the value of a non-profit organization that upholds dedication to the people it may serve, by way of various methods that provide great relief.
Every business entity has social responsibilities. The four theories of social responsibility are the maximization of profits, moral minimum, stakeholder interest and corporate citizenship. Social responsibility goes hand in hand in regard to a company’s ethical standing. As a company, it’s crucial to have high ethical standards. The Ethisphere Institute ranks businesses annually to be named on their honorable and highly recognized list of the World’s Most Ethical Companies. These organizations are evaluated in terms of their ethics and compliance programs, corporate citizenship and responsibility, culture of ethics, governance and leadership, and innovation and reputation. One of the companies
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...
The term “ethical business” is seen, by many people, as an oxymoron. This is because a business’s main objective is to make as much money as possible. Making the most money possible, however, can often lead to unethical actions. Companies like Enron, WorldCom, and Satyam have been the posterchildren for how corporations’ greed lead to unethical practices. In recent times however, companies have been accused of being unethical based on, not how they manage their finances, but on how they treat the society that they operate in. People have started to realize that the damage companies have been doing to the world around them is more impactful and far worse than any financial fraud that these companies might be engaging in. Events like the BP oil
Nowadays, corporate social responsibility (CSR) becomes an integral part of each company. CSR can be understood as a management concept and a process that links social and environmental issues in business operations to a company’s interactions with it’s stakeholders. CSR not only gives the company a chance to help society but also enhances company’s reputation and investors’ attractiveness. In this paper, we will show a brief description about CSR and effects of CSR on international business, including pros and cons when a company applies the CSR program. Besides that, I give my ideas on conflicts of interest beween shareholders and the company’s managers. And then, advantages and difficulties for companies implementing CSR in Vietnam will be defined. Although CSR was first introduced widely in Vietnam many years, it is still a new concept. Therefore, pioneers in this area are facing lots of challenges in running CSR programs in Vietnam.
For Zhang et al. (2014), CSR implies that companies should be responsible not only for their shareholders, but also for their stakeholders including suppliers, customers, and communities. Carroll (1979) identified four types of responsibilities that might be subsumed under CSR: economic, legal, ethical, and discretionary expectations. Economic responsibility means that companies are obligated to achieve profitability and satisfy customer needs. Legal responsibility indicates that companies must operate within the framework of legal regulations. Ethical responsibility includes some moral requirements. Discretionary expectation equals philanthropic responsibilities that contribute to society’s development and welfare. Wang and Juslin (2009) held that the western CSR concept does not fit the Chinese market and adopted the Chinese harmony approach to define CSR: enterprises should apply harmony to business and operate in a harmonious way between people and nature. The overall purpose of CSR should be cultivating humaneness, righteousness, ritual, wisdom, sincerity, and responsibility, and becoming a superior company. However, this concept is too abstract to conduct and few Chinese people can truly understand it without a deep understanding of Chinese culture. Many companies in China do not view CSR as an effective investment to improve organizational value unless CSR has considerable payoffs. In contrast to these misunderstandings, Stewart (2006) argued that companies and society actually have the same interests because enterprises cannot make profit in a corrupt, weak, poor society; and social progress can provide a healthy environment for company governance. As compared, Carroll’s (1979) definition emphasizes simultaneous achievement of a company’s economic, ethical, legal, and philanthropic responsibilities, which can be applicable to all countries. In this dissertation,
Globalization Phase, companies were known locally, regionally and internationally, their products were already improved offering innovative services. However, as The Economist (2007) has highlighted, while more global the companies are more aware of corporate social responsibility they need to be, namely, foreign stakeholders will expect, not only innovative and effective products, but also they will open their doors and invest their money to companies that are social responsible.
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.
Many laws have been put into place to make sure corporations act ethically, so they do not harm people or the environment. Corporations have a social responsibility to follow these laws and various other ethical actions; Johnson & Johnson, considered to be one of the most admirable companies according to Fortune, is one company that included their corporate social responsibilities in their code of ethics. Their code of ethics states that executive officers cannot financially benefit from unethical transactions or that their management must be competent and ethical (Code of Business Conduct, 2015). It is important for corporations to act ethically and hold up to their social responsibility, especially within the workplace; ethics are especially
Global business today not only survives on corporate reputation but as well as social responsibility. Reputation is quite important for the smooth operation of the business especially in today’s internet age where information travels in a few seconds and impact is very fast. Consumers in the present day are more concerned with whether companies are good citizens to the community and for one to do business today it is required for companies to be good global citizens concerned with social responsibility besides profits. As companies
Both of these areas are the lifeblood of the company, and any benefit to them should not be overlooked. Before a company can become proficient at corporate social responsibility, they must first know its definition. Corporate social responsibility is defined as actions that can be taken by a company to ensure they are adhering to ethical and social responsibilities of the day. These corporate social actions are self-regulatory, as a company strives to adhere to guidelines while also going above and beyond being a Good Samaritan in the business world (ECA, 2015). This can place certain businesses at the forefront in customers mind because of the example they are setting in the marketplace. A company going above and beyond the call of duty to work towards a more philanthropic approach in the surrounding community is a perfect example for corporate social responsibility. Going deeper into the definition, corporate social responsibility acts like a “double bottom line” for a company, as they strive to achieve financial goals, but also achieve their social mission out in the community. Once a company is aware of what the concept of corporate social responsibility is, they can now implement it and start to reap the many benefits of its
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.