Corporate Social Responsibility in Business and Corporations
It is important to note that this topic has led to many debates and varying views in the business world. These debates revolve around the extent in which business corporations ought to go regarding corporate social responsibilities and whether the matter will spread across the world to become a global issue (Tai&Chuang,2014). According to the world business council tailored to the mandate of development sustainability, corporate social responsibility refers to the continued commitment by firms to act ethically and participate in economic development. This also involves the improvement of the workforce regarding the quality of life, their families, local community and the larger society. Many businesses have taken the initiative to enable corporate social responsibility as well as maintain high ethical standards.
However, the modern way of giving back to the society entails assessing the needs of the current generation and providing initiatives geared towards satisfying those needs. These initiatives must ensure the better wellbeing of the neighboring community through the creation of wealth. This, therefore, means the corporation will only be benefitting the community in the right direction if it involves the creation of wealth and the consumer process. The corporate responsibility which initially was conducted regarding charity programs has developed to become an important strategy in building the economy. This process is conducted by creating wealth and enabling a competitive business edge. Despite the fact that corporate social responsibility is meant for all organizations, it is the largest associated with large enterprises and business entities.
Such companies typically have the big media coverage and often want to protect their reputation. This also includes widening their base with the public and the stakeholders. They have bigger resources hence they can comfortably invest in corporate social responsibility. These organizations usually sponsor several projects in the community, for instance, they may partner with other local organizations to undertake non-profit endeavors for purposes of meeting the social responsibility efforts in the local community. They partnered with Clean the world supplies organization and purchased packed toiletries and donated to Las Vegas-based food bank. These toiletries were taken to homeless and low-income families in the Las Vegas local community (wang,et al. Environmental Research Initiatives support Walmart runs more than 180 environmental research projects across the world.
They engage in renewable energy that powers approximately 78,000 homes in one year. “Walmart is a top retailer in the testing and scaling renewable energy projects in our stores, including solar, micro-wind on our parking lots, biodiesel generators, and fuel cells”. ” Education projects and programs Education projects and programs are one of the significant efforts targeted by corporate social responsibility. Access to education is still not an available to some people. However in the wake of many companies engaging to support education as part of the social responsibility, opportunities for learning among the children have continued to grow, and this is a positive impact to the society. The dreams of millions of children who have been unable to attend school have been fulfilled through free scholarships offered by these companies.
It is important to note that more than 98percent of these children are living in developing countries. Regarding social responsibilities, the managers act as the representatives of the company in the community. This includes the amendment of policies and projects in the society. Since managers are the representative of their institutions, they are always supposed to behave ethically. “Many corporate social responsibility departments and Environmental managers that focus on the development and implementation of sustainability programs are leading the way in displaying business values” (Carroll, 2015). The individuals tasked with such responsibilities should understand the positive and negative impacts of such initiatives in the community and the environment. This can be done by devising measures or strategies that encourage the expected norm in the business.
A good manager would, therefore, arrange for training and support of the general workforce in all departments (Crane&Matten,2016). These heads of these institutions ought to study the ethical issues for the firm and to make reports in case of any violations. A competent manager knowledgeable in ethical advocacy would create a safe environment and tackle the unethical behavior wisely. “Every business should have a stated code of ethics to guide the management and employees in decision making”. This will enable the organization to maximize profits (. Crane&Matten,2016). Measures were taken to address the adverse social impact In the recent years, corporate negligence has resulted in many large businesses, for instance, BP, Nestle and Dow Chemical to suffer severe consequences. In the case of Nestle, their business operations were even reported in the media several times because of conducting farming activities near Ivory Coast.
Many children started searching for employment opportunities which later resulted in child labor. At the end of everything else, the shorelines were left covered with grease, and the company has been unable to answer certain queries raised by different stakeholders. When companies take the matter of safety lightly, they are bound to cause irreversible blunders which lead to huge losses and public distrust (Carroll, 2015). A company will be held responsible if it violates the policies and safety standards proposed by the government. Corporate social responsibility and ethical leadership should currently be present in the corporate world to achieve the goals. After the occurrence of the Enron scandal which happened most recently, the government imposed many rules and high standards for companies to succeed and meet the targets in business.
Such initiatives will allow innovations; discourage negative media, development and more presence in the market. “Some companies have used dialogue with stakeholders to help make decisions on overseas investments and operations, or to overcome the challenges of operating in markets with different cultures, laws, and languages. ” A good example would be Unilever which joined forces with stakeholders in the Indian villages to develop the laundry detergent. Initially, they were struggling to survive in the industry due to packaging preferences. Later the different stakeholders that were brought in suggested the quantities to reduce to affordable sizes by the majority of the buyers. , & Chuang, S. H. (2014) Corporate social responsibility Ibusiness, 6(03), 117 Wang, H. , Tong, L. , Takeuchi, R. Oxford University Press. Saeidi, S. P. , Sofian, S.
From $10 to earn access
Only on Studyloop