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Corporate Social Responsibility in Times of Financial Crisis - Assignment Example

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In the paper “Corporate Social Responsibility in Times of Financial Crisis” the author focuses on corporate governance regulations, which promote corporate responsibility. The increased engagement in corporate governance puts organizations in a position where they choose to implement self-regulation…
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Corporate Social Responsibility in Times of Financial Crisis
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Download file to see previous pages I hold a copy of this assignment if the original is lost or damaged.
hereby certify that no part of this assignment or product has been copied from any other student’s work or from any other source except where due acknowledgment is made in the assignment.
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Note: An examiner or lecturer/tutor has the right to not mark this assignment if the above declaration has not been signed.
200336 Business Academic Skills 2010.2
Essay Development (20%)
Overview
This part of the Learning Portfolio is comprised of two sections: 1) Essay Plan; and 2) Reference list.
Details
Due Date:
Length:
Week 10 in workshop and online(Turnitin by 11 am the day of the workshop)
500 words
Presentation and format
Students are required to download and fill in the assessment template by:
1. Filling in all required details on the coversheet
2. Typing responses into the blank fields as indicated
3. Removing any blank spaces/lines and
4. Inserting the required information in the footer.
All the margins, fonts, and spacing are already set so there is no need to make any further adjustments.
Submission requirements
A hard copy of the assessment is due at the beginning of your Workshop 10. In addition, an electronic copy of your assessment needs to be uploaded to your specific Turnitin assignment dropbox in the BAS vUWS site no later than 11.00 am on the day of your workshop.
Extension of due date for submission
If students need to apply for special consideration, they should attach all supporting documentation to the completed Application for Special Consideration form which is available from the Student Centre, the UWS Website, or from the ‘Support’ folder in the BAS view site. Applications need to be submitted to the Student Centre at Parramatta or Campbelltown
Note: Students should note that an application for extension or special consideration does not automatically mean that it will be approved.
Late submission
A student who submits a late assessment without approval for an extension of the due date will be penalized by 10 percent per day up to 10 days, i.e. marks equal to 10 percent of the assignment’s weight will be deducted as a ‘flat rate’ from the mark awarded. For example, the essay development assessment task that is worth 20 marks will have 2 marks deducted from the awarded mark for each late day including Saturdays and Sundays. Assessments will not be accepted after the marked assessment tasks have been returned to students who submitted the task on time.
Section 1: Essay Plan (70/100)
Linking different pieces of information in a structured manner is important. The simplest way to ensure that your work is structured in such a way is to prepare an essay plan before you start. Essay plans help with structuring by organizing information so that each concept flows logically from the one preceding. An essay plan also can help you work out how you will answer a question and which information you will use.
This section will evaluate what students have learned in Workshop 8.
Details: Essay Plan
Students are required to prepare in 500 words an essay plan that addresses the following assessment question and includes:
1. A thesis statement which states clearly your position on the essay topic.
2. A minimum of 3 arguments that will form the body of your essay and include for each:
a. A topic sentence (or main idea sentence) that states your point
b. An explanation of the point you’re making;
c. Supporting evidence;
d. An evaluation or elaboration of the supporting evidence; and
e. A conclusion which links your outlined paragraph back to the thesis statement.
3. A concluding statement which summarises your main arguments.
Assessment Question: Discuss the importance of ethics in business in light of the recent global financial crisis (GFC)
Note: All supporting evidence needs to be cited in-text using the Harvard style.
FILL IN THE REQUIRED INFORMATION ON THE NEXT PAGE
ESSAY DEVELOPMENT ESSAY PLAN
The increased engagement in corporate governance puts organizations in a position where they choose to implement self-regulation in the area of corporate social responsibility (Schnietz and Epstein 2005). Subsequently, they are encouraged to adopt transparency motivated practices that help to ensure stability in the established practices.
Supporting evidence
Research by (Karaibrahimoglu 2010) supports that the organization functions effectively only with the assistance of external agents. The assistance from these agents is influenced significantly by the degree of transparency that the organization chooses to adopt and the approach that the organization adopts towards its corporate social responsibility.
Evaluation
The precise definition of Social corporate responsibility is often subjected to arguments and discussions. However, it is clear that the exercising of corporate social responsibility helps to place the organization in a productive perspective. The organization's balance of resources becomes visible through the transparency that the organization chooses to exercise as a part of its corporate social responsibility strategy (Allio 2010).
Conclusion
This shows that even though the precise definition of corporate social responsibility may be disputed, this does not serve to decrease the relevance of corporate social responsibility to the organization's operations. By engaging in corporate social responsibility motivated activities, an organization is able to develop as a socially accountable firm.
Main argument 2:
Topic Sentence
There is a need to exercise increased collaboration amongst corporate entities in order to support effective corporate governance.
Explanation
Developed countries broadened the applicability of their banking and financial methods in the last few years and the recent global recession have shown that these methods incorporated significant flaws. The absence of the identification and intimation of these flaws serves to shed light on the fact that the modern-day global business environment lacks collaboration. There is a need for development at the grass-root level in this regard (Ferguson 2010).
Supporting evidence
Research by (Smith and Skinner 1999) served to bring forth a widely accepted picture of international markets. However, the recent global recession has created the need for a large scale rethinking. In essence, the recent global recession has invalidated the assertions may by (Smith and Skinner 1999).
Evaluation
While the need for an increase in governance is self-evident, the need for increased collaboration also comes as next to mandatory (Carrigan and Pelsmacker 2009). The presence of collaboration may have allowed for an increased degree of cooperation and flaws in the global financial and banking systems would have been identified before they caused widespread damage (The Ethics Resource Center 2009).
Conclusion
This shows that increased governance cannot be implemented unless corporate entities are willing to be subjected to efficient corporate governance. This willingness can be observed in its practical form when corporate entities are willing to engage in collaborative corporate governance in order to promote trade and avoid a repetition of the recent global recession.
Main argument 3:
Topic Sentence
There is a need for the redevelopment of corporate governance regulations since the recent global recession evidence that they have failed.
Explanation
The recent economic recession did more than causing massive financial loss, but also served to prove the inefficiency of the corporate governance frameworks in place (Yonchak, Smith, and Rose 2009). This inefficiency is reflected in the fact that models used for risk assessment and exposure did not manage to provide the cover that they were designed for. There is no specific weakness in the corporate governance infrastructure since the fault is present in a broad and system-wide form.
Supporting evidence
The business models that crashed were those that were incorporated and followed globally (Kidder 2009). They were being studied and their failure serves to prove that there is a need to replace them with more effective approaches.
Evaluation
The liquidity squeeze was created by the functioning of the infrastructure in the manner in which it was supposed to function. The need for a change in the framework has further highlighted the fact that there is a deficiency in motivation to bring about a change in the framework (Maioli and Hudson 2010). This deficiency exists despite the undeniable assertion that neo-classical finance has failed to function with a more than the acceptable degree of financial damage.
Conclusion
The adequacy of corporate governance infrastructures needs to be re-examined in a critical eye in terms of the banking and financial sector. The value of ethical considerations needs to be incorporated into the corporate governance infrastructure.
Concluding Statement
It is evident that there is a need for change in the corporate governance infrastructure on a massive scale. Ethical considerations need to be put into a perspective where they can be trusted to provide an adequate degree of support financial and banking operations.
SECTION 1 – ESSAY PLAN /70
Clear Fail
Needs Work
Pass
Credit
Distinction
High Distinction
STRUCTURE
Thesis statement
There is no thesis statement or
The thesis statement is not related to the essay question.
There is a thesis statement but it is not clear and
The thesis statement is not related to the essay question.
The thesis statement:
Does not take a clear position but
Is somewhat related to the essay question.
The thesis statement:
Takes a clear position and
Is somewhat related to the essay question.
The thesis statement:
Takes a clear position and
Is mostly related to the essay question.
The thesis statement:
Takes a clear position and ...Download file to see next pages Read More
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