...The purpose of this research paper is to investigate whether Corporate Social Responsibility (CSR) is becoming a common standard in the Caribbean corporate financial community and the associated benefits as it relates to the business strategy and financial performance. Historically, corporations were expected to serve some public purpose as justification for the benefits and privileges they receive. However, since the 1970s, the view has become widespread that corporations exist solely to maximize profits and to increase shareholder’s wealth and for no other purpose Bartlett (2015). In a capitalist society it is rare to hear that one has gone into business for reasons other than to make as much money as possible. Based on this capitalistic...
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...RESEARCH PAPER NO. 1805 Corporate Social Responsibility Reputation Effects on MBA Job Choice David B. Montgomery Catherine A. Ramus May 2003 RESEARCH PAPER SERIES CORPORATE SOCIAL RESPONSIBILITY REPUTATION EFFECTS ON MBA JOB CHOICE David B.Montgomery1 Sebastian S. Kresge Professor of Marketing Strategy -Emeritus Graduate School of Business Stanford University Stanford, CA Tel: (650) 723 3029 Email: Montgomery_david@gsb.stanford.edu & Dean, School of Business Singapore Management University Catherine A. Ramus* Assistant Professor Donald Bren School of Environmental Science and Management University of California Santa Barbara, CA 93106- 5131 Email: Ramus@bren.ucsb.edu Tel: (805) 893 5057 Fax: (805) 893 7612 *Corresponding Author 1 The authors’ names are merely alphabetical. 2 CORPORATE SOCIAL RESPONSIBILITY REPUTATION EFFECTS ON MBA JOB CHOICE ABSTRACT In a preliminary study with 279 MBA’s from two European and three North American business schools we find that reputation-related attributes of caring about employees, environmental sustainability, community/ stakeholder relations, and ethical products and services are important in job choice decisions. We use an adaptive conjoint analysis survey tool to discover the relative weighting of a new set of social responsibility job search criteria, including these attributes with traditional job search criteria like financial package, geographical location, etc. In addition, our results show that more than...
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...CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE IMAGE Ayanda, Adebayo Maruf Department of Business Administration and Management Technology, Faculty of Management sciences, Lagos State University, Ojo, Lagos- Nigeria. Baruwa, Akinfolarin Afeez Department of Business Administration and Management Technology, Faculty of Management sciences, Lagos State University, Ojo, Lagos- Nigeria Abstract This article analyses the impact of corporate social responsibility on corporate image, basing the findings theoretically and empirically. The first part of this article focuses on a theoretical concept of corporate social responsibility. The authors analyze different definitions of corporate social responsibility, review chronological development of this concept and reveal similarities between different definitions. Positive and negative positions towards corporate social responsibility are presented and compared. The second part of this article reveals the theoretical concept of corporate image and the constituting factors. After discussing different definitions of corporate image, concluding remarks are made. The authors of this article discuss the topicality of corporate image management subsequently and name the factors that form corporate image, laying out the basis to manage particular factors. The first two parts of this paper provide a theoretical basis for further discussion. The third part of this article outlines insights for causality between corporate social responsibility and corporate...
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...‘Corporate Social Responsibility’ strategies important for enterprises? Prof. Dr. Jose M. Magone LV 400591.01 Work, Business & Society Berlin, 2011 Abstract Nowadays, the importance of social responsibility activities is growing awareness for companies.It is directly related to your business and if you want to have long term business success, you have to create value for the society.People are aware of the social and environmental problems of society.In this technology time, it is so easy to reach the information whatever they want They always follow the daily news from the world and care about them.Due to the fact that paying for the strategies of CSR increases attention to the corporation.Companies’ understanding of social responsibility should always be the part of their investment strategy.They should regard the “Corporate Social Responsibility” as a business management philosophy not as a social activity.It definitely provides sustainability to the business.The purpose of this essay is to explain why “Corporate Social Responsibility” strategies are so important for enterprises.Firstly I will explain the theoretical information about criterias and framework of CSR and then I will support the facts by giving examples from the international companies to clarify the reasons of importance well. Index of Abbreviations The abbreviation used throughout on this essay is presented below; CSR – Corporate Social Responsibility ...
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...Chapter One: Introduction Background of the Study Globalization has undeniably affected the people, the businesses and the entire world. Globalization is simply defined as the process by which the different states, markets, technologies and firms become integrated and interconnected (Baur, 2011; van Tulder, 2001). Evidently, globalization has become an important facet of the twenty-first century. One of the more specific effects of globalization is the increased levels of trade and foreign direct investments worldwide. Furthermore, globalization has also facilitated the interdependence of the different economies throughout the entire world (Baur, 2011; Betsill & Correll, 2001). In addition to what has been previously mentioned, globalization has also influenced the development of Non-Governmental Organizations (NGOs) as a response to the recent increases in private investment (Teegen, 2003). Non-Governmental Organizations (NGOs) consist of citizens’ groups that are organized on a local, national or international level (Bendell, 2000; van Tulder, 2001). There are generally, three types of NGOs, these are: (1) advocacy NGOs who are primarily tasked with the promotion of the governments or in international for the groups who do not have the capacity to do so; (2) operational NGOs, which primarily deals with the provision of goods and services to the clients who are in need; and lastly, (3) hybrid NGOs or those who perform both tasks previously mentioned (Ghauri, 2003; Vormedal...
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...Corporate Social Responsibility for Business The purpose of this recommendation report is to help enterpriser to recognize the importance of corporate social responsibility for the business. There is more intense scrutiny from public toward business since the past thirty years because business caused many problems that are criticized much by public and society such as unacceptable ethical behaviors, deteriorating environment cased by business activities and so on. As a result, a concern of Corporate Social Responsibility (CSR) had generated during that time. Many people believe CSR is good for business based on the socioeconomic view of social responsibility (Robbins, Bergman, Stagg & Coulter, 2005). This report is in favour of the view that the CSR is good for business by considering the economic, legal, ethic and philanthropic advantages of CSR in business. From the impacts of CSR to business’ economic positions, there are three advantages for business, which are secure long-run profits for companies, improvement of shareholder’s interests in the long run, superiority of avoidance of negative social or environmental impact and Improvement of public image and supports from public expectations respectively. • Secure long-run profits for companies CSR can help companies maintain long-range self-interest. That is to say, many of social problems caused from business activities seriously deteriorate the social condition that may become unhealthy climate for business’...
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...Summary Strong business ethics and social responsibility go a long way for businesses. My CEO had tasked me with researching how ethics and social responsibility affect our employees, reputation, and relationships. Promoting good ethical standards at first glance seems like the right thing to do, however through studying the research provided; they are also the smart thing to do. The information gathered for this report gives clear and definitive answers to the three main questions posed by the CEO of our company. The addition to business ethics can increase efficiency in our company’s employees. This would require the incorporation of a code of ethics in the company’s mission statement as well as having the human resources department designing and training employees on ethics. Having strong ethics within a company promotes trust from within, and a happy employee is a more productive employee. It is by no accident that almost 80% of corporations in the United States today have incorporated some sort of ethics program into their company. Generally, the reputation of a company with good social responsibility is higher than the opposite. Having a good reputation with the public can lead to additional profits and long term benefits. It is important to practice social responsibility as early as possible in order to help forma good reputation. Many companies with bad reputations have increased their efforts in social responsibility however they still generate a negative...
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...decisions, both as professionals and in our private and social lives. The ethical stance that best fits my moral compass is teleological, specifically, utilitarianism, which holds “that an action is right if it promotes the maximum good” (Reamer 2006, p. 66). Teleological moral systems are characterized by a concentration on the consequences of any action. According to this position, in order to make the proper moral choices, a person must first attempt to establish what the results of their choices will be. If the consequence of their choices result in the right outcome, then the action is considered moral; if the consequences of their choices result in the wrong outcome, than the action is considered immoral. Social works ethical standards have evolved into a comprehensive guide detailing ethical practice and are found in the National Association of Social Workers Code of Ethics (National Association of Social Workers (NASW) 2008). A profession’s openness to establishing standards that will assist practitioners in monitoring their conducts correctness is can be seen as a sign of true professional competence. These standards are created to highlight those ethical issues actually encountered on a day to day basis and to offer instruction as to what is considered ethical and unethical in the profession. Responsibilities to Clients The first ethical standard in the NASW Code of ethics involves the practitioner’s responsibility to clients and it is the most detailed of all. It lays...
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...Catholic social teaching is an important essential in one’s life. It understands the importance of human life and dignity, while at the same time it call to family, and in participation in their daily life; and it defines the rights and duties of a human being. It also states that every person is an image of God, therefore it is worthy of respect. One has to reflect about a series that depicts family’s life and also the social function of the family. For this I choose Parenthood last episode of season four, because it demonstrate what real family struggle. Parenthood is a show that tells the story of the Braverman family, which comprises an older couple (Zeek and Camille Braverman), their four children (Adam, Sarah, Crosby and Julia), and their...
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...Profession Code of Ethics Comparison As a social work student, we are provided with the foundational education necessary to succeed in our profession. The National Association of Social Work (NASW) Code of Ethics is the most significant publication because it “is intended to serve as a guide to the everyday professional conduct of social workers” (NASW Code of Ethics, 2017). For this assignment, we are charged with exploring other professional codes of ethics to gain a better understanding of how they may be similar or differ from one another. Therefore, I choose to explore the American Counseling Association (ACA) Code of Ethics with the intention of conducting a comparison analysis of both documents. First, the NASW Code of Ethics clearly...
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...corporate social responsibility. Employee Responsibilities and Rights Journal, 21(4), 275-277. doi:http://dx.doi.org/10.1007/s10672-009-9124-4 This article emphasises on keeping up of a good employee-employer relationship as the important element of maintaining ethics and corporate social responsibility. Employee as one of the inevitable factors of organisation should be considered as the most important stakeholder of business. Restrictive approaches towards employee will badly affect the organisation and the organisation may not be successful towards external stake holders like society as its basic duty itself towards the employee is a failure. At the same time, the employee has to be concerned about his duty towards organisation and should try to fulfil it in union with the employer. In conclusion, employee and employer relationship is an unavoidable element to secure ethics and social responsibility of the firm. This article gives a bird’s eye view about the requirement of maintaining a good employee-employer relationship, although it does not deal with the topic in a wide manner. The article consists of some relevant examples to prove the writers’ arguments. But, it does not put forward relevant suggestions to make the point practical. In spite of that, the writers have won in ascertaining employee and employer relationship as the requirement of time to secure ethics and social responsibility in this modern business world. Holme, C. (2010). Corporate social responsibility:...
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...We must ask, why is it important to provide a patient with psychosocial support? As doctors, is our responsibility solely to the biological needs of the patient, or does our responsibility extend further than this? Substantial evidence has demonstrated that psychosocial factors affect the onset and course of almost all chronic illnesses[1][2][3]. Psychological, behavioural and social factors interact with disease processes in the development and course of physical disorders[1][2][3][4][5], and they also have a substantial effect on consultations and treatment-compliance[4][5]. Therefore, in treating a disease, we cannot deny the importance of also providing a patient with psychosocial support[2][5]. The World Health Organisation defines health as “a state of complete physical, mental and social wellbeing, and not merely the absence of disease or infirmity”[6]. This statement gives equal influence to the mental and social wellbeing of a person as it does to their physical health. As doctors, our responsibility is to the health of the patient, and as such we do have a responsibility to the psychosocial care of our patients, as well as to their biological...
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...8, 2012 The major concern of any shareholder is to maximize the profit of the business; therefore organizations that seek to maximize their profits tend to periodically redefine the company’s missions and strategies. Those in successful strategic management positions also realize the importance of social responsibility. Strategic managers must recognize the importance of the stakeholders, which include stockholders and employees, while also considering the importance of outsiders such as suppliers, local communities, government roles, and the public (Pearce & Robinson, 2011). Because incorporating social responsibilities into the company’s mission is not an easy task, any organization that incorporates the interests of the internal and external stakeholders into its mission statement must consider the following steps: 1- Identify all internal and external stakeholders 2- Understand the stakeholders’ needs and expectations 3- Prioritizing the stakeholders’ needs and expectations as well as the reconciliation of stakeholders claims 4- Coordinating the claims, needs, and expectations with the company mission (Pearce & Robinson, 2011). Ethic/Social Responsibility In management, ethics is like the rules or guidelines that help employees display proper conduct according to the company’s personal standards and values that management has chosen to use to define the company. The company will incorporate their chosen beliefs and values in the strategic...
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...Ethics Paper This paper will explain business ethics and the importance of it. Strong business ethics should include integrity, honesty, and fairness to all involved. Ethics isn’t only for the employee but also for the employer of the organization who should have ethical standards in the place established by the leaders of the organization. To have a more in-depth understanding of the importance of a powerful ethical value in a business organization the role of ethics should be explained to include social responsibility, and sustainability in relation to organizational strategies. Various types of shareholders should be examined that influence a company’s strategy. Identify at least one example of a company that exemplifies sustainability and social responsibility in their operation. Factors that may have a negative or positive effect on an organization strategy are ethics, social responsibility, and sustainability. A company’s ethical value can have a far-reaching effect on the following areas of an organization: Business Policies also known as code of ethics, this visible feature of a company’s appliance policies and procedures regarding things such as promotion of diversity and discrimination among the consumers and employees of their organization. Ensuring a diverse and unbiased organization will allow business to increase the odds of attracting a wider variety of future consumers, investors and employees to their organization, regardless of one’s race, gender, or religion...
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...Basic & Applied Sciences 4 (3): 95-105, 2012 ISSN 2079-2034 © IDOSI Publications, 2012 DOI: 10.5829/idosi.ajbas.2012.4.3.1593 Corporate Social Responsibility Initiatives of Major Companies of India with Focus on Health, Education and Environment Anupam Sharma and Ravi Kiran School of Behavioral Sciences and Business Studies, Thapar University, Patiala, India Abstract: Corporate social responsibility (CSR) is emerging as a new field in the management research. In India, many firms have taken the initiatives of CSR practices which have met with varying needs of the society. The present study has made an attempt to understand the status and progress and initiatives made by large firms of India in context to CSR policy framing and implementation. Data has been collected from the official websites of the firms, in-person interviews and through structured questionnaire. The CSR initiatives in context to health, education and environment sector to be rated by the interviewee were identified from the literature. Based on the information and discussions mentioned a matrix of various policy factors has been prepared. All initiatives factors have been rated on the scale of 1 to 5. Results of the study depicts that IT and Auto industry is more going for taking up CSR initiatives while FMCG sector has focused yet not too much into the social responsibility initiatives. Although India has entered or taken a transformational change by involving into new CSR initiatives, but still a lot has to...
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