Ethical Issues in Business - Essay Example

Ethical Issues in Business Ethical Issues in Business Evaluation of Company Q’s Current Attitude toward Social Responsibility Company Q’s current attitude does not consider any conformity to the ideals of corporate social responsibility. According to Harvard Kennedy School, the definition of corporate social responsibility encompasses “not only what companies do with their profits, but also how they make them. It goes beyond philanthropy and compliance and addresses how companies manage their economic, social, and environmental impacts, as well as their relationships in all key spheres of influence: the workplace, the marketplace, the supply chain, the community, and the public policy realm” (Harvard Kennedy School, 2008).

Likewise, the working definition from the ISO 26000 Working Group on Social Responsibility (2007) was noted as:“Social responsibility (is the) responsibility of an organisation for the impacts of its decisions and activities on society and the environment through transparent and ethical behaviour that is consistent with sustainable development and the welfare of society; takes into account the expectations of stakeholders; is in compliance with applicable law and consistent with international norms of behaviour; and is integrated throughout the organization” (International Institute for Sustainable Development, 2007, p. 4).When apparently asked by the area’s food bank for donation of day-old products, it was noted that management declined making any donation for the reasons that it could be a precursor for potential lost revenues which could be due to possible fraud and stealing by employees who might say they are donating the food.

These statements are indicative of management’s narrow perspectives that focus on negative insights and unsubstantiated claims. In no way is corporate social responsibility being exemplified and manifested by Company Q by opting to throw the food instead of having other community members benefit from their products.Recommendations for Improvement To improve on Company Q’s attitude toward social responsibility, the organization’s management team must be apprised that organizations that actively implement and practice corporate social responsibility (CSR) by integrating CSR activities within their policies and philosophies, were found to be more productive and financially successful (International Institute for Sustainable Development, 2007).

As such, the following recommendations are suggested:(1) Evaluate the benefits of donating day-old products as against throwing them away. The advantage of donating includes building a good image and reputation to the community.(2) Address any perceived potential fraud or stealing through enforcing stricter control measures that could easily detect violations of trust and applying sanctions through the organization’s code of discipline. By opting to donate products, the employees would be proud to work for the organization and would therefore prevent violating the trust and respect accorded them by management.(3) Observe that the benefits of CSR through genuine concern and assistance to the community would include “enhanced operational efficiencies and cost savings; improved ability to attract and build effective and efficient supply chain relationships; and more robust “social licence” to operate in the community” (International Institute for Sustainable Development, 2007, p. 11), among others.

By doing good to the community through thinking and espousing CSR activities, community members would be more vigilant and responsive in safeguarding the interests and resources of Company Q because they would acknowledge the organization’s ability to return the favor through products and services that would benefit them. The symbiotic relationship would therefore be tantamount to sustained success in the financial condition of the organization in the long run.ReferencesHarvard Kennedy School. (2008). THE INITIATIVE DEFINING CORPORATE SOCIAL RESPONSIBILITY.

Retrieved July 15, 2012, from hks.harvard.edu: http://www.hks.harvard.edu/m-rcbg/CSRI/init_define.htmlInternational Institute for Sustainable Development. (2007). Corporate Social Responsibility: An Implementation Guide for Business. Retrieved July 15, 2012, from http://www.iisd.org/pdf/2007/csr_guide.pdf