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The significance of Corporate Social Responsibility
Code of ethics and behavior
Arguments for and against the concept of corporate social responsibility
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There are many powers that can be effective in establishing an ethical climate. The power that I think would be most effective for Paradigm Toys is referent power. Referent power is described as power of an individual over their employees because of the respect the employees have for them (Randall, 2012). A manager who has referent power will have the trust and respect from their employees which will in turn demonstrate to the employee how they should behave and what ethical behavior looks like. The referent manager will demonstrate the proper ethical behaviors and employees will learn from that and imitate their managers.
Part B: Paradigm Toys primary stakeholders are:
• Customers
• Employees
Paradigm Toys secondary stakeholders are:
• Competitors
A third party company will perform this audit that has no interest in the company to verify that they are operating in an ethical manner.
Part C1a: Paradigm Toys would benefit from an annual ethics audit by a third party audit company. Ethics audits would ensure that Paradigm Toys is performing ethically internally with all areas of their business. It would provide a time to make sure that employees understand what is expected of them ethically. In areas that need improvement a plan could be discussed so that management knows what needs to be changed and how to change it. The main object is to make sure that Paradigm Toys is performing ethically for their best interest as well as the best interest of their internal and external stakeholders.
Part
They should make sure that their primary and secondary stakeholders feel that Paradigm Toys is meeting their corporate social responsibility on a daily basis. First, customers should feel that Paradigm maintains an ethical relationship with them and that they are treated fairly. Employees should be trained and understand what is expected of them and that they are performing ethically and maintaining the highest social responsibility. Paradigm Toys should practice corporate social responsibility to make sure their image with their stakeholders is positive for today and in the future.
Part D1: I will be analyzing EMCOR Group’s code of ethics. Their code of ethics is not lacking in corporate social responsibility. They clearly define what is expected in their code of ethics when dealing with customers, suppliers, competitors and employees. For example, they clearly define that when dealing with these parties employees must deal in a fair manner. EMCOR group (2013) states “EMCOR companies should not take an unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair-dealing practice”.
Part
Assuming that the leaders of Raider Inc. do not want their employees to behave unethically, what are several (at least three) things that can be done to improve the ethical climate (from both an ethical and decision making standpoint)? What steps can the managers at Raider Inc. take to guide employees to make more ethical decisions?
Ethics or rather morals entail mechanisms that defend, systematize as well as recommend conceptions of right or wrong. Many organizations develop ethical codes to ensure employees and employers understand the difference in doing good or bad. In that respect, ethics are an essential aspect of successfully running of any organization or government. Ethics ensure employee’s productivity levels are up to the required standards. It also assists them to know their rights and responsibilities. Additionally, employers, as well as any persons in management, are guided by them to ensure they provide transparent leadership. Ethics also defines how customers should be handled. Ethical codes govern the relationship between customers and an
Hawkins, John. “The Path to Ethical Internalization: Moving the Code from the Wall to Daily Life.” Leadership Lifestyle. May. 2003
Therefore we can understand the link between ethical behavior and corporate social responsibility through a thorough analysis of the two concepts discussed above. A business having strong values like integrity and honesty will behave in a way that benefits not just them but the entire society and everyone who is related to the business. Successful businesses have “ethics” at the core of their heart and they consider themselves fully responsible towards their stakeholders.
Shum, P. K., & Yam, S. L. 2011. Ethics and law: Guiding the invisible hand to correct corporate social responsibility externalities. Journal of Business Ethics, 98, 549-571.
Broadly defined business ethics is, knowing the difference between what is right and what is wrong. It is the written and unwritten, principles and values that govern how decisions are made within a company (Cross & Miller, 2012). The focus of business ethics is to identify the moral standard, and provides guidelines to follow when making tough ethical decisions. Unethical behavior is typically the result of corrupted interactions between individuals within the organization (Brown & Mitchell, 2010). Many times, unethical acts steam for behaviors that are socially or culturally acceptable within the organization. Ethical behavior can enhance a work environment and maximizes contentment, while unethical behavior may have the opposite affect. Not only can this behavior cause stress in the work place, there is the possibility of it ruining a business (Cross & Miller, 2012). Unlike corporate governance, ethical standards are not as easy to define. A code of ethics expresses fundamental principles and provides guidance to decision makers, but there are no set rules written into a code of ethics. A code of conduct is created using a company’s code of ethics. It is a statement of standard that discloses how a company chooses to conduct its business activities (Driscoll &Hoffman, 2011). Following the scandals of the early 2000’s, many companies adopted a code of conduct to ensure the compliance
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.
The socialization of children is greatly affected by the toys they are exposed to while growing up. Looking through magazines and walking down the aisles of toy stores it is clear that toy companies are supportive of cultural gender roles biases. Toys designed for girls are commonly found in pink boxes; typically these toys involve housework or taking care of children, for example, dolls and easy bake ovens. On the other hand, “boy” toys are found in blue and black boxes, and a lot of them involve construction and cars.
The corporate social responsibility is a commitment by a business to contribute to economic development while improving the quality of life for employees and their families’ as-well as contributing to the society. Walmart is a well-known company that offers customers the items they want and need at a low cost, with nearly 4,000 stores in the United States. According to the Fortune 500, Walmart was ranked number 1 in 2015. Just like any other superstore Walmart needs to continue the use of social responsibility by recreating a relationship between business and the community especially if they want to dominate the competition in 2016. The use of sustainability, strategic philanthropy, causing market, shared values, stakeholders and global perspective will help readers understand the purpose of social responsibilities in the corporate world.
Nowadays, society is governed by the implications of rules and legal restrictions. All of these rules were created to uphold and maintain the idea of ethical and moral values. Even children growing up were taught by some very important codes of ethics at school. These lessons learned as a youth growing up carry over into adulthood, as an employee or manager. Managers and workers both follow a similar code of ethics within the work place. Today, as a management consultant, I am going to prepare a code of ethics for my clients as they have recently started a restaurant called Knox, it is important to have a code of ethics in every company for their employees and also a circular by explaining the purpose and benefits of a good ethics. And finally, a brief report on the steps of strategic formulation and implementation.
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
Stead, W. E., Worrell, D. L., & Stead, J. G. (1990). An integrative model for understanding and managing ethical behavior in business organizations. Journal of Business Ethics, 9(3), 233-242. Doi: 10.1007/BF00382649
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...
Having a code of ethics leads to improved employee behavior, which is a huge part of culture for a standard company. Because employees are the people who create value for the company, in which way, they need to have honest and candid altitudes to the company. Having a code of ethic is a useful tool to manage an organization’s values, responsibilities, and ethical duties. To make the codes work, companies must put the code of conduct into the business so that employees know how it applies to them. The code is also a way for employees to get advice about ethical problems or concerns. “According to the 2009 National Business Ethics Survey, eighty-nine percent of those polled felt management adequately discussed the importance of ethical conduct. Similarly, 2008-2009 Integrity Survey, published by KPMG Forensic, it was found that ethics programs, including codes of conduct, had a strong impact on how employees felt. Ninety percent of those surveyed who worked in companies with a code of conduct felt they were motivated to do the right thing. This compares with just 43 percent of people who work in companies without strong codes of conduct.” (NCARB) The code of conduct plays an important role in the business no matter
Business Ethics are much more than the buzz word stories on late night news. The Corporate Social Responsibility of a company goes well beyond that. “Business Ethics are moral guidelines for the conduct of business based on notions of what is right, wrong and fair.” (Bellow, 2012). Individual backgrounds play a huge role in person by person code of conduct can vary from employee to employer. To help solve some grey areas in what is ethically correct, companies now make a code of conduct that is over everyone in the company. This code of responsibility helps employees have better understanding of what is required of each and every one of them. “Corporate Social Responsibility is a business philosophy which stresses the need for