Contemporary Issues in Business and Management
For decades, we have believed in this fallacy – that when firms voluntarily engage in social responsibility they spend more and incur losses that result to poor net financial performance in long run. This is not true. In fact, statistics paint a completely different picture. I believe a few of us in this room can guess the reality. Can you imagine that CSP and CFP have a U-shaped kind of relationship? First, it is important to appreciate that business activities have currently metamorphosed a lot due to emerging ethical dilemmas that confront business people with conflict of interest (de Bettignies & De Cremer, 2013). 2010); it is not hard to see how CSP and CFP eventually gain positive correlation, i. e. the more you spend on corporate social activities the higher your financial performance hence good work eventually pays– it really pays.
” Speech 2 Institutionalizing idealism through the adoption of corporate social responsibility practices “Hello, everyone, I welcome you to share with me on institutionalizing idealism through the adoption of corporate social responsibility (CSR) practices. The main focus of this speech is to pinpoint and discuss the eccentric features of embracing and institutionalization of (CSR) performance. That is the idealistic decision that needs to be adopted. It is not implausible truth that this situation leads us to a point of compromise, what De Betttignies and De Cremer (2013) refer to “grey zones”. In addition, the same idealistic position that needs to be adopted is the very same that Barnett and Salomon (2012), emphasize in order to realize a positive CSP-CFP relationship in long run i. e.
firm’s ability to profit from social responsibility is highly influenced by SIC capacity and not shareholder capacity. First, business ethics are within our means and we don’t feel obliged to determine ethical limits nor do we rely on our moral values so long as we think we are acting within the law. In this kind of mentality, we take for granted what is not condemned by the law to be acceptable. Look at your right, now turn to your left. One of your seatmate if not you, likely knows that this altitude of pushing the business limits over our moral limits increases our chances of crossing the boundaries. But this is just a tip of a might iceberg silently awaiting to sink the speeding titanic of “push-to-the-limit” generation.
” Summary “In summary, it is not far-fetched truth that the three phases illustrated in the U-shaped CSP-CFP relationship (negative, inflexion point and positive) conceptualized in “does it pay to be really good? By Barnett and Salomon’s Article, correspondingly agree with habitualization, objection and sedimentation phases illustrated by Institutionalizing idealism: the adoption of CSR practices by Haberberg and associates. In an effort to cross from business/self-oriented practices to corporate social responsible practices, the default grey zones are there to contend with. They are so incorporated into our behavioral aspects and ominously willing to drawn our generation beyond redemption. However, despite this looming danger, hope exists in the realistic CSP-CFP relational path towards the conceptual institutional idealism that is a mirage for now.
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