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Problem of corporate social responsibility - Essay Example

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Institution Instructor Date Introduction Corporate social responsibility is a common notion adopted in business models that alludes to some form of self-regulation by corporate systems. It is a system which is built in and self regulating through which businesses ensures frequent evaluation to ensure that it fully complies with the law, international norms as well as ethical standards…
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Problem of corporate social responsibility
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Problem of corporate social responsibility

Download file to see previous pages... In such an analysis, the movie ‘Wall street’ as acted in 1987 features such manipulations of a stock broker (Bud) who gets into trade deals with an unscrupulous corporate raider (Gordon Gekko) through whom we see the attributes of manipulation. The character of Bud is clearly brought to light through the greed for quick wealth, which led him into the heinous acts in trade. In one such an incident, after he is much involved in illegal trade affairs with his mentor Gekko, he learns the business and opts to practice it himself against his corporate friend. He deceives Gekko to invest in Bluestar airlines after which he cunningly drives the stock up with an intention of bringing them later down for his own gain against his friend Gekko. This therefore illustrates such an example to business manipulation which is against CSR and which is driven by profit motive. Bud is interested in the unethical behavior of manipulating business performance for own gain through profit maximization (IMDb, para 1-7). Manipulation would therefore involve such practices as intentionally overpricing of business goods, over valuation or devaluation as well as the intentional price distortion for the purpose of personal gains. Manipulation has effects in affecting the market forces, which are responsible in regulating demand and supply. At macro level, interest rates and the stock values have great influence on performance of an economy. They also influence the lending rates by financial institutions, which have an equal capacity of encouraging investors into a country. This illustration of manipulation through stock over-valuation and undervaluation therefore has the capacity of destabilizing forces of demand as well as supply hence distort the economy, both at micro as well as macro level. It is also worth noting that manipulations by price distortions ahs the capacity of creating unfavorable competition within the markets whose effects would be felt within the whole economy. Tax evasion In other instances, business people may intentionally evade payment of tax as a paramount practice for corporate social responsibility. It is the expectation of every governance regime that business firms honor their role in payment of tax for building on government revenues. The governments therefore raise their funds through taxation and as such imposes legal frame worst through which full compliance from any trading firm is expected. This therefore brings in the local and international norms against which individual traders or firms are liable to facing legal charges. However, it is a common practice for trading businesses or individuals to avoid payment of taxes. Such ways through which tax evasion occurs is through understating the profit returns, failure to update books of account on timely manner as well as corruption where traders would cooperate with authorities at a lower fee instead of honoring the obligation of paying taxes. These are common practices, which are against business ethics that trading firms or individuals engage in for purposes of maximizing own profit. However, despite the increased efforts in creating awareness and regulation, unethical behavior through such means as tax evasion is increasingly being experienced (Cox, Friedman and Edward, 263-265). Dishonesty practices are equally common phenomena in trading businesses ...Download file to see next pagesRead More
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