Business Ethics And Corporate Social Responsibility Essay

Business Ethics And Corporate Social Responsibility Essay-53
Public relations practitioners contribute to this ideology as they discuss business performance internally and externally. Determinants of corporate social responsibility disclosure: An application of stakeholder theory. Lack of such alignment or misalignment can reduce purchase intention. These researchers report findings from a survey of the impact of corporate philanthropy on CSR and on consumers. Corporate behavior can thus be viewed as a three-state phenomenon based on the changing notion of legitimacy from very narrow to broad. The external environment is analyzed according to four categories: the pre-problem stage, the problem identification stage, the remedy and relief stage, and the prevention stage. Critics have reasoned that CSR can become insulated, self-serving, and self-affirming—often to the detriment of the society where it was supposed to be a social, political, technical, and financial benefit. Accounting, Organizations and Society, 17, 595-612. This study empirically tests the ability of stakeholder theory to explain one specific CSR activity – social responsibility disclosure. These authors found that building business strategy that aligns social, environmental, and economic performance fosters long-term business and societal value. They found that consumers are often only minimally aware of such programs Increased awareness of CSR performance that consumers approved increased willingness to buy from, as well as increased attractiveness as a place to work and an organization in which to invest. Corporate behavior can be defined as social obligation (this concept is proscriptive in nature; the traditional economic and legal criteria are necessary but not sufficient conditions of corporate legitimacy), social responsibility (this concept is prescriptive in nature), or social responsiveness (this concept is anticipatory and preventive in nature).

Public relations practitioners contribute to this ideology as they discuss business performance internally and externally. Determinants of corporate social responsibility disclosure: An application of stakeholder theory. Lack of such alignment or misalignment can reduce purchase intention. These researchers report findings from a survey of the impact of corporate philanthropy on CSR and on consumers. Corporate behavior can thus be viewed as a three-state phenomenon based on the changing notion of legitimacy from very narrow to broad. The external environment is analyzed according to four categories: the pre-problem stage, the problem identification stage, the remedy and relief stage, and the prevention stage. Critics have reasoned that CSR can become insulated, self-serving, and self-affirming—often to the detriment of the society where it was supposed to be a social, political, technical, and financial benefit. Accounting, Organizations and Society, 17, 595-612. This study empirically tests the ability of stakeholder theory to explain one specific CSR activity – social responsibility disclosure. These authors found that building business strategy that aligns social, environmental, and economic performance fosters long-term business and societal value. They found that consumers are often only minimally aware of such programs Increased awareness of CSR performance that consumers approved increased willingness to buy from, as well as increased attractiveness as a place to work and an organization in which to invest. Corporate behavior can be defined as social obligation (this concept is proscriptive in nature; the traditional economic and legal criteria are necessary but not sufficient conditions of corporate legitimacy), social responsibility (this concept is prescriptive in nature), or social responsiveness (this concept is anticipatory and preventive in nature).

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The column explained how GE sets a challenging goal—high performance with high integrity—for successful companies and, indeed, for 21st-century capitalism” (p. High performance and high integrity are good for the bottom line. These authors reason that the narrowness of profit motive as the basis of CSR (or its nemesis) fails to realize the interrelatedness of political, social, and financial forces.

Citizenship requires a “rigorous, unwavering compliance with the law.” It blends strict adherence to capital performance with integrity to never allow that commitment to corrode those principles.

Long seen by academics and managers alike as the missing link in capitalism, the concept of corporate social responsibility has not delivered on its promise” (p. Convinced of its failure, they reasoned that it is a “dangerous idea” (p.

92), which led them to agree in principle but not detail with Freidman (1970).

Companies should pay only as much wage/salary as necessary to operate efficiently and pay taxes reluctantly.

Some today laud his sentiments, and indeed many empirical tests have not found a positive relationship between CSR activities and major corporate financial performance indicators such as profit (e.g., Agle, Mitchell, & Sonnenfeld, 1999; Auppede, Carroll, & Hatfield, 1985). (1999) stressed the methodological challenge: “Corporate social performance is notoriously difficult to quantify” (p. Others argue that Friedman’s view of the role of companies too narrowly addresses the key issue. Critics believe that Friedman failed to understand the positive advantages to be gained from CSR: Reduce business costs and bolster profits (See the section on Profits and CSR). This study examined a major contention of stakeholder theory: A firm can simultaneously enhance the interests of its shareholders and other relevant stakeholders. If done correctly, there is no inherent conflict between efforts to improve the competitive context and improve society, contrary to Friedman’s concern. Public relations practitioners added their voices to this controversy. Paluszek (1995) reasoned that advocates of CSR can be committed to profits and the community where they are generated, Business is increasingly in society not only in its traditional role of improving the standard of living—by generating jobs, offering products and services and paying taxes—but also via an overlay of sensitivity that supports employees, empowers customers and investors, and relates to the needs of local, national and international communities. 49) The daunting question raised by this debate is this: Does the price of enjoying the franchise to operate in a society where profits are generated include increasing operating standards so that the organization adds value to that society beyond merely making a profit? The results showed that shareholder returns were significantly and positively related to improving customer service performance required after privatization of U. In one way or another, all discussions of CSR recall the famous, or infamous, claim of economist Milton Friedman (1970) that CSR is bunk. He sparked decades of controversy by arguing that the only responsibility of publicly held companies is to increase profits—the efficiency paradigm of organizational excellence. As they help formulate CSR standards and give voice to organizations, public relations practitioners can use experts’ carefully considered thoughts as well as research findings to determine the best plan of action. Heineman Jr., senior vice president for law and public affairs at General Electric Corporation, writing in the Wall Street Journal (6/28/2005). Managing with integrity: Social responsibilities of business as seen by America’s CEOs. This article reasons that integrity must be one of the underpinnings of managers’ ability to achieve social responsibility. International Journal of Strategic Communication, 2, 115-135. Internally and externally, practitioners can help build a foundation for image/reputation management, brand equity, relationship management, issues management, and crisis management. His question helps set the tone for the topic of corporate social responsibility as a vital part of the Essential Knowledge Project. This can be accomplished by assuring that each business within its mission and vision serve others’ interest to achieve well-being. Her experimental design found that knowledge of CSR initiatives can foster salient beliefs about the company, but do not predict attitudes toward it or behavior intention. In developed nations, social movement activism and principles of social democracy offered not only a rationale but also a voice for the concern that mass production/mass consumption societies had spawned large corporations that were slowly dominating the standards of business performance in ways that distorted not only their rationale in society but also the wholesomeness of the private sector. Efficient and rational business practices could in fact harm the society that franchised the organizations to operate. These researchers discovered that known CSR performance can increase marketing clout if it relates to product quality and/or consumers’ personal preference views on key social issues. In the 1960s, interest in CSR became feverish as activists at all points of the ideological and geographical compass called for higher standards of business and government performance. Academics argued over the differences between the modern and post-modern organization. Consumer reactions to corporate social responsibility. This study suggests that aligned interest is crucial to and accountable for positive impact of CSR. The role of corporate social responsibility in strengthening multiple stakeholder relationships: A field experiment. As Basu and Palazzo (2008) observed: “The last three decades have witnessed a lively debate over the role of corporations in society” (p. This scrutiny revealed how CSR standards are defined by the ideology of each society. CSR performance enhances business relationships when consumers see an alignment of their interests and character with that of the company. Journal of the Academy of Marketing Science, 34, 158-166. Dimensions of corporate social performance: An analytic framework. This article suggested using the concept of legitimacy to evaluate corporate social performance. A conceptual framework for environmental analysis of social issues and evaluation of business response patterns. Following Sethi (1975), this article provides a conceptual framework to analyze and evaluate business response patterns along three dimensions (corporate behavior as social obligation, social responsibility, and social responsiveness). Ethics and corporate social responsibility: Why giants fall. Organizations might not get all of the favorable response to CSR that management might desire, but failure to know and meet such standards can harm even the most powerful and ostensibly successful companies.

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