They proved that if social responsibility is managed effectively can create significant benefits, enhance the reputation, bring returns and motivate the employees. In the same framework, Husted and Allen (2001) stated that if corporate social responsibility used properly, it can create competitive advantages, as there is a positive relation between corporate social responsibility strategies and competitive
Hence, business has a moral responsibility to contribute in enhancing larger social good. The main aim of this research paper is to analyze and understand the role of corporate social responsibility and sustainable development in India. Further, this paper will also analyze the contribution of various Indian organizations for the social upliftment.
Leadership and ethics Name Professor Course Date Some of the ethical issues that management may need to address include corporate social responsibility. This refers to the operation of a business or organization in a manner that takes into consideration the environmental and social aspects created by enterprise. It implies the commitment to create policies that include responsible practices in the undertakings of the entity. Corporate social responsibility policies serve as self-regulatory measures for the organization in monitoring and ensuring that it complies with ethical standards, regulations and societal norms. This practice takes responsibility of the organizations actions to facilitate a positive impact of the organizations
An organization that utilizes ethical and socially responsible marketing will pick up the admiration and trust of the clients they target and communicate with. Over long time, this will mean more noteworthy advantages all around. Today's organizations can make their practices more ethical and capable by
Strong ethical policies can add great value to a company, whereas a failure to do the right thing can cause social, economic and environmental damage, undermining a company’s long-term reputation. Once companies have adopted an ethical approach, companies will often find there are bottom line benefits. In addition, corporate communications and reporting on sustainability need to provide hard evidence of the positive impact on society, the environment and the strategic returns for the business, and how any negative effects are being addressed. When we talk about sustainability, it is really about reputation and whether people trust a
Marketing and social responsibility By karim zidan : IAU Introduction Corporate responsibility policies have been gaining increasing attention from senior executives as questions of sustainability have come to imbue business all over the world. Nowadays corporations are struggling with a new role, which is to meet the needs of the present generation without compromising the ability of the next generations to meet their own needs. organizations are being called upon to take responsibility for the ways their operations impact societies and the natural environment. They are also being asked to apply sustainability principles to the ways in which they conduct their business. Sustainability refers to an organization’s
Yes it does, this enables a company to work well within its capacity, while either avoiding engaging in harmful acts or directly advancing social goals that they are passionate about. The basic objective of an organization is to develop, produce and supply goods to customers, when an organization defines a socially responsible role for itself, it carries out its business operations while being conscious of the effect its company operations have on the environment and it develops sustainable practices that it adheres to since they are making an effort on its own accord and not because it’s a requirement. When it’s forced to work with a social responsibility that’s been defined for them by an outside party, its likely to result to window dressing practices, whereby they partake in activities just for the sake of presenting a good public image or to improve their current public image. iv.) Which of the three basic philosophies of social responsibility would you find most appealing as the chief executive of a large corporation.
Companies have to protect their social responsibilities by protecting their consumer rights, the ethical practices towards the consumers are important in order to improve and develop their businesses. Question 1: Business ethics is the study of business activities, decisions and situations. These actions of right and wrong are addressed, from a value based perspective. This is containing conflicting between
In this situation it is critical to draw a difference between CSR, which can be a key business management idea, and philanthropy, sponsorships or charity. Despite the fact that later it can also make an important commitment to poverty reduction, will straightly improve the reputation of an organization and build up its image, the concept of Corporate Social Responsibility clearly goes after that. A properly executed CSR idea can bring along a change of competitive advantages, for example, upgraded access to capital and markets, expanded deals and benefits, operational cost saving, enhanced profitability and quality, effective human resource base, enhanced brand image and status, improved client or customer loyalty, better decision making and risk management process. The concept behind Corporate Social Responsibility is that organizations have various responsibilities to keep up. These obligations can be organized in a pyramid, with essential responsibility closer to the base.