Critically evaluate the extent to which the concept of corporate social responsibility encourages responsible business practices.
To support your evaluation and argument, include an appraisal of how two companies currently promote social responsibility.
In order for companies to positively impact their communications with their stakeholders many companies like Nike and Goldman Sachs are continuously seeking new ways of carrying out corporate social responsibility Reeves (2012). The re-developments of corporate social responsibility often derive from responding actively to emerging and current issues in society (REFERENCE). (REFERENCE) describes current issues such as, human rights, labour, and environmental practices that Nike and Goldman …show more content…
Utilising this method leads to positive organizational outcomes, and presents a unique perspective on the issue raised, businesses are able to deal with better risk adjusted performances (Shank, T., Hill. R. P., & Stang, J. 2013). In congruence when implementing the corporate governance practice will often utilise the growth and stability of business productivity (BusinessGov); (Nisen 2013) found that by displaying its commitments and standards of environmental practise within their corporate social responsibility report, Nike has created a reputable company image, therefore they had less complaints from stakeholders. (Kohlkater 2014) argues that there are disadvantages to corporate governance practices, he/she highlights that Goldman Sachs is being sued for gender discrimination and sexism amongst female employees; in congruence some companies in these circumstances may not comply in order to avoid some provisions in the code and then present weak (or untrue) explanations justifying their actions (Carnes …show more content…
In order to improve social responsibility practices businesses need leaders to emphasise moral principles when representing the company. In congruence the values and beliefs gained will influence how individuals behave and represent either Nike or Goldman Sachs. However, the issue will be whether carrying out responsible practices will impinge on their profitable targets for both the employees and the