Corporate Social Responsibility Issues in Business and Law - Essay Example

Comments (1) Cite this document
Summary
The discussion establishes that corporate social responsibility is a crucial responsibility for corporations including banks. In the current UK and European context, the CSR practices of banks have been established through policies and voluntary practices. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.2% of users find it useful
Corporate Social Responsibility Issues in Business and Law
Read TextPreview

Extract of sample "Corporate Social Responsibility Issues in Business and Law"

Download file to see previous pages Center of discussion in this paper is the concept of corporate social responsibility or CSR that can be understood in the sense of companies voluntarily incorporating their social and environmental considerations in their activities and in their interactions with their stakeholders. CSR therefore involves ethical and moral considerations impacting on the corporate decision-making processes and behaviours. The discussion on CSR expanded from its original definition, utilizing the practice of CSR as a base point or a building block from which other similar concepts can be drawn. Wood pointed out that CSR needs to be established in a bigger context, with the highlight made on the outcomes of one’s performance. Swanson and Crane suggested that any establishment may be motivated to comply with CSR based on the utilitarian perspective where CSR is used as a means of gaining performance objectives. They may also be motivated to comply with CSR based on the negative duty approach where compliance is made due to socially prescribed initiatives. Finally, the motivation may also be based on the positive duty view. In the positive duty view, businesses are self-motivated to comply with their corporate social responsibilities regardless of the pressure from society or from the government authorities. There are also different processes which are being considered by businesses in complying with their CSR, and these processes include environmental, issues, and stakeholder management. As these processes are being implemented in the organization, they help the business comply with their CSR and with the demands of the stakeholders7. The responsibility of businesses to general society has been a major source of debate throughout the years. Issues in its implementation include the fact that CSR has long been a contested policy as questions on its benefits have been raised consistently8. Various issues on the definition and coverage of the CSR have also been raised. Its coverage has spanned a wide range of considerations throughout the years with its concerns on the environment, on human rights considerations, and on the fair treatment of the consuming public. Regardless of these issues, the concept of CSR is founded on the socio-political and economic concept of transparency, as well as sensitivity to the consequences of corporate actions9. The increased scrutiny and frequent changes in CSR policies are all part of the current trend towards making CSR more responsive to the needs of the people, the stakeholders, and the environment. Amidst growing concerns for environmental and cultural concerns, CSR policies are also being adjusted and conceptualized, giving the concerned individuals or groups the chance to make better business choices. In relation to banks, their decisions and policies in relation to CSR have been slow in coming even when their overall impact on the economy has always been considered significant10. The initial consideration of banks as ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Corporate Social Responsibility Issues in Business and Law Essay”, n.d.)
Retrieved from https://studentshare.org/law/1394045-corporate-social-responsibility-issues-in-business-and-law
(Corporate Social Responsibility Issues in Business and Law Essay)
https://studentshare.org/law/1394045-corporate-social-responsibility-issues-in-business-and-law.
“Corporate Social Responsibility Issues in Business and Law Essay”, n.d. https://studentshare.org/law/1394045-corporate-social-responsibility-issues-in-business-and-law.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
he
herbertdickinso added comment 1 year ago
Student rated this paper as
The topic of "Corporate Social Responsibility Issues in Business and Law" is quite popular among the assignments in college. Still, this text opens a fresh perspective of seeing the issue. I’ll use the manner for my own document.

CHECK THESE SAMPLES OF Corporate Social Responsibility Issues in Business and Law

Corporate Social Responsibility

...of corporate social responsibility can be related to the activities of an organisation which would facilitate in conserving the natural flora and fauna and as well as the socio economic culture (Reset, n.d.). There is no perfect definition for corporate social responsibilities, in simple terms; it can be referred to consideration of the ethical values while performing the business activities by the organisations. Corporate social responsibility also includes transparent or clear business activities e.g. the organisations should consider the legal...
9 Pages(2250 words)Essay

Business Law and Social Responsibility

...Business Law and Social Responsibility With the advancement of new challenges facing the corporate sector, it is imperative that companies rethink responsibility. It is more critical than ever for corporate entities to ascertain new means of getting beyond the mere talk and sincerely place corporate values at the same level with profits. The costs of failing to do better at doing good are far too high. The basic principle is that corporate entities will have to revolutionize to become broadly and deeply liable for their acts on different systems such as social, environmental and governmental among others. This is unavoidable and will take place either willingly or in response to external obligations. While staying out of trouble... ...
8 Pages(2000 words)Research Paper

Corporate Social Responsibility and Law

...?Corporate Social Responsibility and Law The adoption and practice of CSR by business is not solely a voluntary action although it was primarily driven by reaction to market pressure and reputation management. CSR is now accompanied by legal pressure and enforcement albeit not conventionally; through state pressure and application of private law. As a result, legal aspects of CSR have emerged as businesses strive to achieve legal compliance, with efforts being made to ensure that compliance is out of spirit and not solely pegged on the law. This study explores the relevance of the law...
8 Pages(2000 words)Assignment

Corporate Social Responsibility and the Law

...Corporate Social Responsibility and the Law Enron Corporation started in the year 1985, was an energy company that was found Houston, Texas. It was formed by two companies that merged together. The two companies were involved in trading of natural gas. It was involved in malpractices that are prohibited in its transactions. The corporations collapsed due to fraud and corruption. It had employed more than 20,000 people by the year 2000 (Kerns, 2005). By then, there were very good strategies that were applied in accounting and this made it to be ranked among the top ten largest companies in the United States. From the previous trend that...
7 Pages(1750 words)Case Study

Business Ethics Corporate Social Responsibility

...the problem at hand not decisions that are likely to impact negatively on the targeted people. 6. Merck had an ethical obligation in as far as the development of the drug was concerned. First foremost, it is Merck’s responsibility to establish the impact of the drug on the targeted people. Even if the drug had a small chance of curing river blindness, it would be Merk’s duty to ensure that the company upholds its ethical principles in as far as health and safety of the targeted people are concerned. There should not be any chances used when a drug that impacts on the health of people is developed. The main issue here is that the company should be sure that it is doing the right thing in as far as...
4 Pages(1000 words)Assignment

Corporate Social Responsibility (Business Ethics)

...performance. As a result of this in 1989 alone, 78% buyers switched brands. (Davids1990). World Bank defines CSR as: "Corporate Social Responsibility is a term describing a company's obligations to be accountable to all of its stakeholders in all its operations and activities." While it is now true that corporate social responsibility is highly desired, it has not always been the accepted practice for corporations. In 2004 for example Henry Miller in The Miami Herald, Henry Miller wrote, "Businesses do not have social responsibilities; only people do." (Miller, 2004)....
13 Pages(3250 words)Essay

Corporate Ethics & Corporate Social Responsibility

...the conduct of businesspeople." (Glossary: Business Ethics. (2006). But in today's context this is too broad a definition. A more elaborate definition that can be given to it is "The examination of the variety of problems that can arise from the business environment, and how employees, management, and the corporation can deal with them ethically. Problems such as fiduciary responsibility, corporate social responsibility, corporate governance, shareholder relations, insider trading, bribery and discrimination are examined in business ethics." (Business Ethics: Definition....
14 Pages(3500 words)Essay

Business Ethics & Corporate Social Responsibility

...Running Head: Business Ethics and Corporate Social Responsibility: Cases Analysis CASES: MAPLE LEAF CASE STUDY: AN EXAMPLE OF CRISIS MANAGEMENT Pritesh Patel Professor: Dr. Mark Schwartz Course Code: ADMS3660, C Student No.: 209-586-223 Date: July.28th, 2010 Word Count: 1630 Abstract It is the right of the consumer to use a product without having to worry about any problems that the product may inflict on the consumer. In August 2008, the Canadian food manufacturer Maple Leaf came under close scrutiny after the products the company produced were found to contain Listeria. 22 people died while multiple others suffered serious illnesses. The company immediately suffered a...
5 Pages(1250 words)Case Study

Corporate Social Responsibility in Business

...) ‘The environmental responsibility of business is to increase its profits (by creating value within the bounds of private property rights)’, Industrial and Corporate Change, 19 (1)   Galbreath, J. (2009) ‘Building corporate social responsibility into strategy’, European Business   McManus, J. (2011) ‘Revisiting ethics in strategic management’, Corporate Governance, 11 (2)   Pava, M.L. (2008) ‘Why corporations should not abandon social responsibility’, Journal of Business Ethics, 83 (4)   Porter, M.E. and Kramer, M.R. (2006) ‘Strategy & society: the link between competitive advantage and corporate social responsibility’, Harvard Business Review, 84 (12)... Lecturer First Scenario Is it possible to successfully inculcate...
3 Pages(750 words)Essay

Corporate Social Responsibility: Company Law

...Corporate Social Responsibility: Company Law Abstract In the interest of the subject and the critical analysis of an argument, this article initially highlights a few basic definitions, its origins and its future. There are sections later that invariably deal with Prof Rajak’s comment about shareholder’s rights and obligations being directly proportional to their capacity in the firm and then the after math of that comment in modern business scenario obviously in the new light of Corporate Constitution and Company Act 2006. However the intent throughout has been to develop a few themes, not necessarily to craft logical reasoning in...
12 Pages(3000 words)Article
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Corporate Social Responsibility Issues in Business and Law for FREE!

Contact Us