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Social responsibility in finance decision making - Essay Example

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America is currently in an era where profit making is a greater need for companies over social responsibility and sustainability in production processes. Corporate Social Responsibility (CSR) endorses a vision of business responsibility to shareholders, employees, environment,…
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Social responsibility in finance decision making
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Download file to see previous pages cture, McDonalds focuses its attention to putting its customers, processes, and practices into place to better the society through better food, people that are more contented, a stronger community, and an improved planet. This report explores McDonalds’ Corporate Social Responsibility approach in finance decision making.
McDonalds, the worlds foremost global food service trader, takes its environmental and social obligation to the society considerably seriously, considering the CSR strategies it partakes. The company consults with customers, suppliers, sustainability experts and socially responsible organizations to ensure that its CSR strategies are in lieu with the current century and societal goals. It collaborates with other organizations to develop global principles that support purchase of raw materials from verified sustainable sources. This paper explores McDonald’s practices, their harm to the society, and CSR initiatives it has taken to promote its corporate image.
In as much as a company seeks to make profit in a sustainable approach, there are always times when they inflict harm on one or more of its stakeholders for profit making. McDonalds faces criticism for the level of nutrition in its food, which is largely high fat, high cholesterol, low fiber diet. It also receives criticism for the effects of advertisements on the minds of children, and the environmental effects of its restaurants on the environment. Considering McDonalds is among the world’s leading companies it has the financial and legal muscle to silence its critics and limits free speech against its operations (Blasio, 2008). Apart from that, workers claim exploitation in several instances, especially in branches comprised of underprivileged people. Workers receive low wages, and understaffing also occurs, as the company seeks to maximize on profits. Worst of all, its aggressive practices push several small food outlets out of business (Brazelton, Ellis, Macedo, Shader, and Suslow, ...Download file to see next pagesRead More
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