Business Law and Social Responsibility - Research Paper Example

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 This paper "Business Law and Social Responsibility" seeks to observe ways in which corporate companies ought to embrace changes as pointed out in Hollender and Breen’s The Responsibility Revolution. It further explores and reviews the six principles listed in the book. …
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Business Law and Social Responsibility
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Download file to see previous pages This is unavoidable and will take place either willingly or in response to external obligations. While staying out of trouble is no longer enough, corporate entities ought to try to execute a globally valuable mission actively. In order to earn trust, they ought to ensure transparency to enhance accountability (Savitz & Weber, 2006, 41-64). They should also ensure facilitation of communication, values, and cooperation. The Responsibility Revolution describes the means by which the American consumer has transformed from the time of the Great Depression until the Great Recession period in 2009. The way in which social responsibility is developing amongst the American people is by considering their spending trends on organic items and green products, which the corporate sector in America is presently exploiting, as they were aware this would draw investment and customer allegiance (Friend, 2009, 81-84). This finding led to rivalry amongst corporate entities trying to get greener than others did. The rivalry, though, is good for the environment as well as their revenue. During his campaigns, President Barrack Obama persistently solicited the notion of green products, social responsibility and the consequences of the evolving attitude of the consumers. The corporate sector, however, refused to embrace this revolution and instead acted defensively. The consumers, activist groups and government regulatory retaliated to this refusal by calling for commitment and responsibility and as a result, corporate entities responded in different ways including setting up of consortiums to run their projects, setting up of individual, ecological, and energy reduction schemes and contribution of at least one percent of their income towards the Global Fund (Desear, 2011). Creating a corporate entity that not only upholds but also exceeds is a move beyond the need to be ‘less bad’ and grips the culture of ‘all good.’ The Responsibility Revolution discloses the most brilliant ways for corporate entities to fabricate an enhanced future and hold themselves responsible for the outcome. The Six Principles to Help Evolve Responsibility Many corporate entities think they can hide their faults and only depict their achievements in the media. Blog posts, cable news, and even traditional media are filled with examples of the breakdown of this system, with British Petroleum (BP) being merely the most recent and clear example. On the other hand, the Responsibility Revolution outlines corporate entities that dodge ahead of their own bad media, revealing their faults to the press and critics. The result drives corporate entities like Patagonia, Seventh Generation, Timberland and Novo Nordisk to act not only more conscientiously but also neutralizes external pressure against them. In a 2010 article, it was quoted that, “Most companies understand that pursuing a laudable mission can amount to a land of rich opportunity. But to successfully travel the road to corporate responsibility, an enterprise must navigate around six daunting landmines…” (Huffington Post, 2010).   ...Download file to see next pagesRead More
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