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Corporate Social Responsibility and Globalisation - Essay Example

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Globalisation: Advocate or Detractor of Corporate Social Responsibility? An Essay Name Student Number Module Name and Number Name of Professor Word Count: 2,132 Introduction The globalisation of the economy accelerates and will keep on enhancing the difficulty of coping with moral or ethical concerns due to diverse cultural views of ethics or morality…
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Corporate Social Responsibility and Globalisation
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"Corporate Social Responsibility and Globalisation"

Download file to see previous pages The discussion mainly focuses on the ethical principles underlying social responsibility in the business world. Ultimately, this essay argues that CSR becomes more and more important as globalisation rapidly develops. Confronting the growing environmental issues in the current global marketplace, MNCs are aggressively or constructively taking part in strategic programmes towards resource management and environmental preservation. Dedication of global businesses to sustainable initiatives are motivated by several internal and external factors, such as social activism, technological improvements encouraging sustainable programmes, customer demand for ecologically friendly goods and/or services, and governments’ environmental policies (Wilson 2000). Concerns about the corporate social responsibilities have been the point of contention for decades. However, recently, a new approach towards the issue has emerged and prevailed (Lechner & Boli 2004). Both in the corporate domain and beyond it, there is far-reaching and mounting advocacy for the existing idea of Corporate Social Responsibility (CSR). ...
A particular explanation for this may be the perception that global corporations are not as impregnable as they were believed to be in the past; hence, their operations can be controlled to profit society (Wilson 2000). According to Bomann-Larsen and Wiggen (2004), another explanation could be a perception that successful legal regulation of businesses whose operations reach outside national boundaries is unlikely, making self-regulation as the sole realistic, feasible option. Thus, MNCs should self-regulate in a way that promotes the wellbeing of the society and its citizens. CSR has been controversial for decades, and some aspects of the subject matter have been introduced by ethicists. This controversy has been broadened recently to encompass the practices of MNCs. Even nowadays, the long-standing issue still reverberates through the halls of international corporations across the globe: “If it is legal, does that make it ethical?” (Manakkalathil & Rudolf 1995, 29) The emphasis of the word ‘ethics’ can be related to views concerning what is moral and what is not; one description of ethics may be the explanation of what comprises human wellbeing and the actions needed to support it. The concept of ‘ethical norms’ is brought into play to characterise compliance to generally accepted moral codes (Sullivan 2002). Consequently, according to Sims (2003), these moral codes are ruled mostly by values, traditions, and behaviour that a society implements as parameters for interpersonal manners. Hence, corporate social responsibility is tantamount to societal norms and values, which then implies that MNCs should formulate objectives that are congruent to ...Download file to see next pagesRead More
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