The selected corporation is Volkswagen (VW), a German car manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Established in 1937, Volkswagen is the top-selling and namesake marque of the Volkswagen Group, the holding company created in 1975 for the growing company, and is now the second-largest automaker in the world (Wikipedia, 2016). Volkswagen’s corporate website is http://www.vw.com/. According to the International Ethical Business Registry, there has been a dramatic increase in the ethical expectations of businesses and professions over the past ten years. Increasingly, customers, clients and employees are deliberately seeking out those who define the basic ground rules of their operations on a daily basis. As a global …show more content…
It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which states that a firm can never exist In a vacuum (Khalidah et. al.). Volkswagen has Corporate Social Responsibility embedded into its company’s culture and values. This leads them to regularly conduct projects displaying this responsibility towards society on a regular basis and they ensure to do so across the globe. Although it is part of the law and compliance for companies to serve the society as a way of giving-back to them, Volkswagen takes an extra step in actively getting involved and engaged with the community. They have had numerous projects and a selection of them is described in the following …show more content…
One of the two core elements in Volkswagen responsibility to the society is the ability to serve the community in a long run. Besides that, Volkswagen commitment to the corporate social responsibility is not superficial or made up. It works to create sustainable structural development for both economic and social stimulus as well as the opportunity for stakeholders. In addition to demonstrating their care to external stakeholders, they start by being socially responsible with the company’s workers. Based on the Code of Ethics, this is done by ensuring fairness and equality, impartiality, and compliance with basic worker rights. A company that starts by showing care and responsibility towards their employees is more likely to exhibit credibility when carrying out corporate social responsibility with external stakeholders and the community in which the company
Lowe’s Companies, Inc. – Fortune 500 Writing Assignment Lowe’s Companies, Inc., is a vendor that offers environmentally responsible home development merchandise, packaging, and do-it yourself informational services at everyday low prices. Lowe’s was founded in 1946 and the first store, now the corporate office, was based in Mooresville, N.C. Currently this company attends to above 17 million patrons a week in Canada, Mexico and the United States. Today Lowe’s is one of the top U.S. operating companies and is ranked number 40 on this year’s Fortune 500 list.
General Motors’ Charles E. Wilson famously told a Senate committee in 1953, “for years I thought that what was good for our country was good for General Motors, and vice versa,” personifying the beneficent attitudes of the corporate world post World War 2. However, has the ethos of social responsibility and ethical business practises remained intact in corporations five decades later? Flash forward to 2014, when General Motors (GM) had forcibly appointed a new safety chief in the wake of recalling 3 million cars for safety issues. The safety issues with certain models such as the popular 2009-2013 Chevrolet Traverse, 2008-2013 Buick Enclave and 2008-2013 GMC Acadia was that the ignition switch would shut off the engine whilst the car was
Discussion Nestlé’s Corporate Social Responsibility consists of looking further then the own company needs or profits and pay more attention to other stakeholders. Everyone concerned or connected to the company business will get a closer look on their situation and will be treated right. They divide the stakeholders in two categories; the first being the internal stakeholders such as employees and shareholders. The second category is external stakeholders where we find the suppliers, customers, environment and so on.
Whitbread is a multinational hospitality company that operates hotels, coffee shops and restaurants with 45,000 employees which bases its headquarter in Dunstable, United Kingdom (B.co.uk, 2015). Whitbread owns the biggest hotel chain, Premier Inn and coffee shop chain, Costa in the UK as well as internationally in other 30 countries(Whitbread.co.uk, 2015). Moreover, they also operate family-friendly restaurants; Beefeater grill, Brewers Fayre and Table Table. Whitbread’s vision is to grow and expand through strong customer heartbeat and innovation to stay ahead in the competitive market.
“Verizon focuses its corporate social responsibility strategy on the customers, with the goal of reaching and achieving high customer satisfaction. Archie Carroll’s theory on corporate social responsibility states that businesses must work to satisfy the interests of stakeholders. Stakeholders are individuals or groups of people that affect and are affected by the business. In this case of Verizon, the stakeholders are invested into the various markets where the company operates. For example, the interests of stakeholders in the wireless telecommunications market are beneficial to the company’s corporate citizenship programs because of the operations of Verizon Wireless.
Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders . The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.
On the other hand, research by McWilliams, Van Fleet, & Corey (2002) supports the idea that firms can use CSR and political influence to affect regulations themselves, such as by influencing intellectual property regulation to perhaps lower labor costs by preventing foreign competitors from using their own versions of an organization?s protected technology. The Oxford Handbook of Corporate Social Responsibility (2008) represents CSR behaviors through the categories of philanthropic economic activity, good corporate governing, implementation of corporate sustainability practices focusing on environmentalism, and a variety of other actions involving social conscientiousness and participation in organizational culture and activity. Additionally, questions arise not only out of the nature of the duties or deontological concerns of corporations, as emphasized in the previous point, but also based on discussion of what motivates participation in CSR: executive leadership, organizational fiscal outcomes, or an organizational or individual culture of altruism (Orlitzky, Siegel, & Waldman, 2011). Centering the issues of CSR around the perspective of stakeholder management (Freeman, 1984) enables corporate firms to take a vision of the firm?s performance in which it is embedded within the larger social and environmental contexts. This has the advantage of aligning with consequentialist outlooks which, as Trevino and Nelson (2014) note, is by far the most commonly cited form of ethical decision-making by managers, and in undermining the ethical-dilemmas which employees often face in choosing between the profits of the organization which employs them and the consequences of those in society outside of the organization by leading
According to (WHITE paper | Business Development, 2013) a study revealed that 42 percent of people’s sentiment about a company is based on their understanding of the firm’s corporate social responsibility practices. Additionally, consumers place more value on a company’s reputation than on the perception of the company’s
Bowen first evoked the concept of CSR in the business literature by publishing Social Responsibilities of the Businessman in 1953. He described a globalized society in which the lives of citizens was determined by a few hundred companies that held a true center of power. " To meet this challenge, Bowen proposed a very innovative synthesis: moving from the classic opposition between managers and shareholders to the strategic idea of subjecting the company to legitimacy resulting from a contract with the company. So had just born the Corporate Social Responsibility (...). CSR was therefore confirmed as a response to the excessive power of multinationals, by limiting the absolute nature of the shareholders' property rights (in particular the financial markets), to the benefit of what is called everywhere today.
What is Ethical Leadership some may ask. It is leadership that shows through the actions of having respect for ethical beliefs and values, and for the dignity and rights of others. Ethics is associated with the morals and values an individual finds desirable. It is a philosophical term originating from Greek word “ethos” meaning custom or character. While in the United States Marine Corps, the definition of ethics in an organizational setting was as follows:
The same as individuals in society, business entities are subject to legalities intended to offer every member in the industry a fair chance to succeed. But, when objectives take precedence over ethical decision making, it implies the importance of ethics in business
In the recent years more and more companies in the retail and food industry are concerned about the environmental consequences of their action and also the social ethics for the people involved in the production process. This is a shift from the philanthropic actions companies used to take in 1970’s and by following basic international standards to a ‘business case’ perspective of CSR (Customer Social Responsibility). According to the World Business Council for Sustainability Develpoment ( WBCSD) CSR is: ‘’ the commitment of business to contribute to sustainable economic development, working with employees, theirfamilies, the local community and society at large to improve their quality of life’’ (World Bank, 2002)
Code of ethics Code of ethics says or states the principal and expectations governing the behavior of individuals and organizations in the conduct of internal audit. Code of ethics is started by setting out the values that underline the code and will specify the company’s obligation to its stakeholders and employees and other people connected to the company .The code is publicly made available and addressed to anyone with an interest in the company’s activity and the way it does business. It will specify details of how the company plans to implement its value and vision as well as guidance to staff on ethical standard and how to achieve them.
Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders. The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.