Modern Corporation and Social Responsibility - Annotated Bibliography Example

? Individual Annotated Bibliography (IAB) Task: Individual Annotated Bibliography (IAB) Ethical practices play significant roles in motivating the success of any business unit. The principles and morals further employ descriptive methods that ensure an interaction of profit maximization and the primary normative, as well as non-economic concerns. In the current arena, businesses get encouraged to formulate various ethical standards, which ensure trade institutions promote contrivance. Skeptical traditions affect the objective status of moral values, it is this regards that varied companies form regulations, which help in guiding as well as leading institution setups. The paper is a representation of annotated biography towards conducting serious research on ethical principles. Banerjee, S. B 2008, ‘Corporate Social Responsibility: The Good, the Bad and the Ugly’, Critical Sociology, Vol. 34 no.1, pp. 51-79. The picture of corporate social responsibility is relative in diverse business environments. This is because CSR handles various activities as well as provide varied regulations with an aim of providing sustainability in corporate citizenship. Consequently, it is relative due to varied social responsibilities and curtailed interests, which can legitimize or motivate the power of larger corporations. In order to bring out the difference, Banerjee came up with an article, which looks at corporate responsibility from diverse angles. This is important in the study of ethical standards for deeper understanding and awareness creation. Banerjee provides a segmented description of corporate discourses that get applied in the process of satisfying varied social responsibilities (Banerjee 2008, pp. 52). In as much as diverse interpretation of ethical standards prevails, it is emancipator for serious corporate citizenship as a means of social responsibility. The journal takes different perspectives and directions to establish the differences in social responsibilities. For instance, Banerjee provides an all round explanation between modern corporation and social responsibilities. This is to contextualize current discourses on corporate social responsibilities. This is indispensable for substantive research on the arena as it paints topography of corporate social responsibility. This is the same case scenario with 2002 Charles Perrow journal, which described the result of incorporating political, social and economic forces to be a legal revolution. According to Banerjee, social responsibilities require jurisdictions that regulate corporate powers within an institution. This is because reverse of sovereign prerogative leads to a crisis of responsibility forcing unethical business practices. This also includes the period for providing services to the public in a bid to exercise corporate powers. Corporate social responsibility, therefore, plays significant role in identifying and formulating jurisdiction, as well as a mode of operation. This is extremely influential in the study of ethics as it provides relevant information on awareness and detailed research (Banerjee 2008, pp. 60). The journal, in addition, provides defined relationship to corporate social responsibilities with respect to stakeholders and sustainability. This is to ensure no confusion existence in conducting research. It also equips learner with the basic knowledge required for the study of ethical principles. For instance, the journal provides the definition of corporate social ethics according to the world business council (Banerjee 2008, pp. 62). This is crucial for research as it gives the link between various stakeholders including the local community, employees and the society. From this perspective, it is a commitment towards ensuring a communal working environment. This is different from the Australian standards association, which associates corporate social responsibility to compliance with set rules and regulations. In this instance, the journal plays a significant role in providing an all round definition of corporate social responsibility. This ensures learners have sufficient information for successful research. Consequently, the journal also links corporate social responsibility to financial performance of organizations (Banerjee 2008, pp. 76). This is especially applicable in assessing negative financial concerns through raising the corporate social responsibility. In a competitive industry, firms are required to come up with corporate social responsibilities, which guide operation to prevent malpractices. This, therefore, proves the journal as a resourceful means of conducting research as it gives a detailed explanation of corporate social responsibility. Carroll, Archie B 2004, ‘Managing ethically with global stakeholders: A present and future challenge’, Academy of Management Executive, Vol. 18, No. 2. Managing business setups to conform to the diverse ethical practices remains a challenge of diverse businesses. This is due to the increasing rate of corruption and corporate fraud. It is in this regards that Carrol Archie came up with a journal to address various ethical challenges in management. The journal is essential for substantive study in ethical standards because it offers relevant information. The journal, for instance, gives information on ethical challenges on the global arena, relevant for understanding various ethical standards (Carroll 2004, pp. 46). The journal also provided varied examples of diverse organizations, which have failed due to non-ethical standards. For instance, the journal offers information on companies such as Enron, Tyco and Arthur Andersen. In a bid to introduce, ethics as part of every business, Carrol uses various perspectives relevant to substantive research on ethics. Time span becomes a key consideration of Carrol as poor application of ethical standards leads to failure. This is because ethical standards are corporate responsibilities needed in the exponential growth of industries in the world. Consequently, citizens demand integration of ethical practices with corporate citizenship in a bid to promote ethical practices. This is also a common goal of the corporate social responsibility, which formally was called the world economic forum. In as much as the union does not provide eloquent timelines and frame work for application of ethical standards, it requires that business organizations integrate philanthropic, economic, ethical and legal, societal expectations. In addition, they should make use of contingency as well as stakeholder model to improve operations. This is quite necessary in studying and conducting research concerning ethical considerations (Carroll 2004, pp. 56). Apart from providing a framework of ethical practices, Carrol in his journal also provides responsibilities embraced by ethical standards, which might be against societal expectations. There are diverse societal cultures; therefore, it is not possible to embrace all the beliefs in ethical standards. According to Carrol, reconciliation of the standards in the world level assists in harmonization for unity. Moral relativism is also encouraged in this instance, as it is impossible to attain a unity of cultures at times. This is because culture plays significant roles in facilitating a soothing and conducive environment for business operations. Consequently, the journal encourages philanthropic business responsibilities as part of ethical standards (Carroll 2004, pp. 60). In addition to handling societal expectations in ethical standards, application of international standards developed by independent bodies also gets a priority. This makes it an indispensable article for research in the process of understanding ethical standards. Application of local cultural practices which get subjected to changes with time can lead to a business failure. It is in this regards that independent, corporate codes must be put in place to ensure sustainable integration of business principles (Carroll 2004, pp. 81). Ethical standards, for instance, should incorporate international human right regulations, which prohibit business activities from torturing, limiting speech, causing insecurity or conducting unjust practices. The moral minimums, according to international economic agents, enable companies to strive well in varied environments. This, therefore, proves the journal as a relevant source of information for substantive research. Crane A. & Matten, D 2007, ‘Understanding business ethics’, Journal of Business Ethics, Vol.1, pp. 86-120. Adequate knowledge of ethical principles is extremely necessary in business organizations. This is due to the varied situations people find themselves in, that require efficient knowledge for rational decision making. Crane & Matten’s journal becomes a non-evitable tool in the study of ethics as it provides a deeper understanding of varied ethical behaviors. Ethical dilemmas, for instance, is a current phenomenon experienced by people in different setups, which make people take wrong decisions as a result of inadequate knowledge. In order to create a deeper insight in people the journal looks at different ethical theories. This aimed at creating a wide background of ethical principles a factor that makes it easy to analyze and come up with concise decisions in ethical dilemmas (Crane & Matten 2007, pp. 87). In order to create a better understanding of ethical theories, the Crane & Matten create the ethical theories based on varied ethical dilemmas and ethical principles needed to resolve such situations. For instance, as a duty to others, it gives appropriate information on ethics of duty as a means of instituting ethical practices on people as well as institutions on what they should do to others. Some of the ethical questions that people should ask when faced with varied situations include what other people would do in the same situations as well as the perceptions one would infer from such decisions. In as much as decisions require personalized attention, it is celebrated as an ethical duty to incorporate others in your feelings judging what they feel when faced with the same situation (Crane & Matten 2007, pp. 90) Crane & Matten also make highlights on ethics of rights as a means of creating understanding on the dignity of others. Ethics of rights, according to the article, respects the fundamental human rights that must be considered in any ethical situation. At this stage, Crane & Matten make the journal extremely beneficial for the study of ethical principles. Consequently, they also provide information on theories of justice that are applied directly to ethical standards. Based on the same, the journal also makes a comprehensive analysis of ethical virtues to ensure fairness in any decisions made. Not forgetting is also feminist ethics, which guarantees equality in the process soft making ethical decisions with regards to women (Crane & Matten 2007, pp. 94) This makes Crane & Matten analysis more relevant to the study of moral ethical standards. Other than offering information on ethical standards, the article also provides information on different ethical dilemmas, which require people overlook various personal traits like ego. Utilitarianism also finds its ways under the consequential theories as part of things people should sacrifice in the process of coming up with substantive ethical decisions. This helps consumers in making decisions concerning ethical choices and knowing how to forgo self-interests (Crane & Matten 2007, pp. 98). Finally yet importantly, Crane & Matten also give information on the greatness happiness principle, which mainly analyses the consequences of making various ethical decisions. This, therefore, makes the journal a prestigious avenue for research. Parker, M & Pearson, G 2005, ‘Capitalism and its Regulation: A Dialogue on Business and Ethics’, Journal of Business Ethics, Vol. 60 pp. 91–101. Capitalism plays significant role in enabling a conducive, ethical environment. This is in terms of establishment of a relationship, which relays cost benefit analysis. The issue of cost benefit analysis has remained a predominant factor in the society with people asking the extent to which a benefit should be exploited from a cost. This is because people often go overboard in a bid to find returns for their investment. This is the reason why Parker & Pearson become relevant in the study of ethical principles, as they give a correlation of capitalism and ethical principles. This is especially valuable, detailed study of ethical principles as capitalism dictates investments and at the same time returns (Parker & Pearson 2005, pp. 101). Poor investments with successive mismanagement not forgetting ethical practices have a product of failure. This, therefore, makes ethical principles relevant in capitalism. The journal is especially significant as it outlines differences that exist among capitalism, regulation, dialogue, politics and ethical principles. Consequently, the journal uses varied theoretical masterminds to portray the famous stimulant of economic development. In order to provide a comprehensive relationship that exists between ethics, Parker & Pearson use Plato to relay the differences. This is the same approach as that in Peterson and Parker. However, the two authors attempt to analyze the insignificant and endless questions posed by Plato in a bit to quest justice. Idealism deals with the study of business for sustainability. However, insufficient study and lack of integration of ethical factor cause business failure. This is because of market managerialism, which proves profitable for the first years but remains dormant after a certain period of action (Parker & Pearson 2005, pp. 100). Another mistake brought out by Parker & Pearson is the non-commitment to provide ethical treatment to productive power of labor. This is because most industries find no relation between labor and the productive power hence taking the divided power of labor as a matter of right. This is a non-ethical practice in the capitalist society, which affect labor causing an unfair system. This, according to Parker & Pearson, remains some of the misleading factors that cause business failure. Apart from looking at the politics restrains in application of ethical principles, the journal also concentrates on dialogue as a means of solving ethical stalemates, which arise in the current society. Dialogue is used to solve varied ethical concerns in the present world. However, at times it proves impossible due to incommensurability of worldviews. As a means of finding information on various ways of solving ethical problems, the journal becomes paramount in both line and general research (Parker & Pearson 2005, pp. 101). Capital application in a different society varies according to the interpretation. This remains one of the factors, which cause differences in ethical understanding, resulting into mismatch in production capabilities. According to Davis Ricardo, there are mainly three factors of production including land, labor and capital. A correlation of the three factors is extremely valuable. However, the lack of ethical principles will automatically lead to business failure. This, therefore, proves the journal as a vital component in the study of ethical principles. Velasquez, M 2000, ‘Globalization and the failure of ethics’, Business Ethics Quarterly, Volume 10, Issue 1, pp. 343-352. Globalization of business entities remains the current, emergent issue in the business industry. In as much as it has led to the creation of many business opportunities and multinational corporations, it has also led to development of many ethical problems in the multinational host countries. Globalization is the temporary aptitude of various companies to transact business operations across borders. This can be in terms of exports or opening of branches in other countries. The alarming rate of globalization has caused many ethical malpractices to raise questions on its validity (Velasquez 2000, pp. 343). Foreign direct investment as people call it, is currently being practiced in over 54, 000 countries, with an increase of 13 percent. In an attempt to provide sufficient information, Velasquez presents a detailed journal report relating various globalization trends to ethical malpractices experienced in the current world. Corruption is a non-ethical practice that dominates globalization with many companies losing a lot of money because of mysterious transfer of funds. Consequently, the article puts emphasis on various cultural contexts that exist in different countries but are not incorporated in globalization. It is necessary for various companies expanding to other countries for direct investments to establish sufficient relationships with the people they expect to interact with as an ethical practice (Velasquez 2000, pp. 344). The article also presents relativism as a common, influential factor in establishing ethical standards. This helps in solving various urgent questions that arise in the process of ensuring globalization reaches its maximum. Consequently, the article highlights relativism as an arbitral ground for solving various ethical problems, which arise in the process of globalization. The substitute arbitrariness offer moral justification in comparison with different culture including the traditional culture in order to come up with an appropriate means of solving ethical problems. This makes the journal more prominent in the study of varied ethical principles as it offers advice on how to tackle different ethical dilemmas with respect to relativism. Consequently, the article offers information on how to avoid various ethical mismatches that cause parochial decisions. This is based on utilitarianism, justice as well as human right guidelines that are indispensable for any ethical decision. In addition, the article stresses the importance of incorporating cultures in globalization. This is to ensure integration of interests and welfare of society members leading to successful globalization. In relation to other theories such as justice, the article stresses the importance of incorporating inequalities based on race, religion, sex as well as other ethnic characteristics. In as much as integration is noteworthy, it is vital not to hyper integrate societal expectations to the extent that they affect the operation of businesses (Velasquez 2000, pp. 358). In an art shell, the article stresses the importance of incorporating societal characteristics in globalization making it a momentous material for research on ethical standards. In conclusion, ethical principles are inevitable in any business setup. This makes it a key area of research for relevant information on how to tackle various ethical problems. It also provides an arbitration varied rules governing the operation of business entities. The above articles provide substantive documentations that help in understanding ethical practices, in positive lengths. Therefore, I uncover these sources, as constructive for conducting any future research on, or related to the topic. References Carroll, Archie B 2004, ‘Managing ethically with global stakeholders: A present and future challenge’, Academy of Management Executive, Vol. 18, No. 2. Crane A. & Matten, D 2007, ‘Understanding business ethics’, Journal of Business Ethics, Vol.1, pp. 86-120. Banerjee, S. B 2008, ‘Corporate Social Responsibility: The Good, the Bad and the Ugly’, Critical Sociology, Vol. 34 no.1, pp. 51-79. Parker, M & Pearson, G 2005, ‘Capitalism and its Regulation: A Dialogue on Business and Ethics’, Journal of Business Ethics, Vol. 60 pp. 91–101. Velasquez, M 2000, ‘Globalization and the failure of ethics’, Business Ethics Quarterly, Volume 10, Issue 1, pp. 343-352. Read More