Thus far, we have discussed stakeholders mostly as individuals and groups outside the organization.This section focuses on the business firm as a stakeholder in its environment and examines the concept of a corporation as a socially responsible entity conscious of the influences it has on society.
Thus far, we have discussed stakeholders mostly as individuals and groups outside the organization.This section focuses on the business firm as a stakeholder in its environment and examines the concept of a corporation as a socially responsible entity conscious of the influences it has on society.Tags: Technology Dystopia EssayInfluential EssayCardiovascular Case Study20 Essay Nationalism SocialEssay Writing Classes For High School StudentsFour Step Plan For Problem SolvingScience Fiction Essays OnlineTrip To Universal Studios EssayAssignment Writing S In Pakistan
This is especially true for stakeholders that have typically been given low priority and little voice, such as the natural environment and community members who live near corporate sites and manufacturing facilities.
CSR in its ideal form focuses managers on demonstrating the social good of their new products and endeavors.
It can be framed as a response to the backlash corporations face for a long track record of harming environments and communities in their efforts to be more efficient and profitable. Charles Dickens wrote about the effects of the coal economy on nineteenth-century England and shaped the way we think about the early industrial revolution.
The twentieth-century writer Chinua Achebe, among many others, wrote about colonization and its transformative and often painful effect on African cultures.
On the other hand, for some, CSR is nothing more than an opportunity for publicity as a firm tries to look good through various environmentally or socially friendly initiatives without making systemic changes that will have long-term positive effects.
Carrying out superficial CSR efforts that merely cover up systemic ethics problems in this inauthentic way (especially as it applies to the environment), and acting simply for the sake of public relations is called Ben and Jerry’s Ice Cream started as a small ice cream stand in Vermont and based its products on pure, locally supplied dairy and agricultural products.As instances of this type of pressure on corporations increase around the world, stakeholder groups become simultaneously less isolated and more powerful. Customers need employment, and the state needs taxes just as firms need resources.All stakeholders exist in an interdependent network of relationships, and what is most needed is a sustainable system that enables all types of key stakeholders to establish and apply influence. TBL is a measure described in 1994 by John Elkington, a British business consultant ((Figure)), and it forces us to reconsider the very concept of the “bottom line.” Most businesses, and most consumers for that matter, think of the bottom line as a shorthand expression of their financial well-being.The law requires only disclosures, but the added transparency is a step toward holding U. and other multinational corporations responsible for what goes on before their products appear in shiny packages in stores.The legislators who wrote California’s Supply Chains Act recognize that consumer stakeholders are likely to bring pressure to bear on companies found to use slave labor in their supply chains, so forcing disclosure can bring about change because corporations would rather adjust their relationships with supply-chain stakeholders than risk alienating massive numbers of customers.Other stakeholders, such as state governments, NGOs, citizen groups, and political action committees in the United States apply social and legal pressure on businesses to improve their environmental practices.For example, the state of California in 2015 enacted a set of laws, referred to as the California Transparency in Supply Chains Act, which requires firms to report on the working conditions of the employees of their suppliers.Enlightened business stakeholders realize that profit is only one positive effect of business operations.In addition to safeguarding the environment, other ethical contributions that stakeholders could lobby corporate management to make include establishing schools and health clinics in impoverished neighborhoods and endowing worthwhile philanthropies in the communities where companies have a presence.In 1999, Dow Jones began publishing an annual list of companies for which sustainability was important.Sustainability is the practice of preserving resources and operating in a way that is ecologically responsible in the long term.