APPLIED CONCEPT PAPER - Essay Example

An important concept that develops the trust of stake holders as well as shareholders is corporate social responsibility, which is the extent to which businesses tend to monitor and manage their activities in a way that leaves a positive impact on society as well as the environment as a whole. In addition to this, responsibility of top management to make decisions in a way that are in the best interest of stake holders and shareholders also adds a lot to the firm’s reputation and profitability.

The decisions made should also be within the ethical framework. The paper will provide an analysis of the concepts mentioned above along with their implications in corporate world. Abstract The Corporate Governance Movement Daniel R. Fischel Copyright 1982 Vanderbilt Law Review This article is titled as ‘The Corporate Governance Movement’ and is written by Daniel R. Fischel. In this article the writer focuses on factors that are responsible for poor governance of corporations. The writer is of the view that improving fiduciary duties, increased accountability and a large percentage of outside, competent and independent directors can put forward better methods of governing corporations thus, increasing its performance.

The next article focuses on the relationship between agents and principle, as maintaining good relationship with principals is critical to the success of the organization. A Survey of Corporate Governance Andrei Shleifer and Robert W. Vishny The Journal of Finance A Survey of Corporate Governance, an article written by Andrei Shleifer and Robert W. Vishny, focuses on the ways the suppliers of finance assure themselves of getting return on their investment. It probes that how principals make managers to behave in their best interest.

Moreover, it also focuses on the implications of good relationship between agents and principals on corporate governance. CSR practices and corporate strategy: evidence from a longitudinal case study Lucio Lamberti, Emanuele Lettieri The Journal of Business Ethics ‘CSR practices and corporate strategy: evidence from a longitudinal case study’, an article written by Lucio Lamberti and Emanuele Lettieri, focuses on how CSR practices helped corporations fulfill stakeholders’ claims and how it has helped in building up their (stakeholders) trust on corporations.

Further evidence is provided by probing into a case study of Italian baby food manufacturing company that demonstrates how adopting CSR practices can shape corporate strategies and win the trust of stakeholders and the society as a whole. Business ethics and stake holder analysis Kenneth E. Goodpaster Business Ethics Quarterly This article titled as ‘Business ethics and Stake holder Analysis’ written by Kenneth E. Goodpaster, focuses on why ethical decision making is important. According to the writer, ethically responsible manager is one who not only takes into account the shareholder analysis but also the stakeholder analysis, while making decisions.

The study also focuses on the fact that how can management strive to achieve its corporate strategy by giving full attention to ethical concerns. Concepts This paper will highlight several concepts like corporate governance, with special emphasis on the factors responsible for poor governance in corporations and also on how the factor of corporate governance can be improved. In addition to this, importance of relationship betw