Corporate social responsibility is defined as the obligation of any corporation to create wealth by means that would not cause harm to the society’s assets and in turn protect and enhances them. As the President and CEO of Ski-in Inc., a manufacturer of ski apparels for both…
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The program towards social responsibility would include higher job creation and greater products through market action (Steiner, 2009, Chapter 5). The Bill and Melinda Gates Foundation, for instance, is built to source the fortune of Microsoft towards improving education and helping poor people suffering from neglected diseases (Steiner, chapter 6).Likewise, Ski-in Inc. has plans of having an annual donation scheme for two orphanages in one of the developing countries of Africa. The social costs or the negative externalities on the society are to be minimized through environmental friendly products. A new section of apparels would be launched that would be bio-degradable. Moreover, ways to recompense the pollution and harm inflicted by the production process are in progress. For every bio-degradable apparel sold, Ski-in will plant one tree. Since, our products have a considerably good market; this program is going to benefit our organization and also the environment. However, the main function of the corporate is not social charity but profitability. Nevertheless, involving in controversies like that of Nike with respect to its labor practices and social duties and General Electric Company under CEO Jack Welch need to be avoided (Steiner, 2009, chapter 6). Hence, the idea is to make innovations and create profits through environmental protection and social enhancement.
Greater production would create jobs in the society and help reduce unemployment. It would also generate higher corporate taxes that would benefit the society. Pumping in more products would serve the consumers and give them greater satisfaction. Thus, the utility of the consumers would increase. Also planting trees would help in the reduction of carbon dioxide in the atmosphere and hence help to curb global warming. However, these programs would take time to materialize and incur costs both in
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“Corporate Social Responsibilty Assignment Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/miscellaneous/1563016-corporate-social-responsibilty.
The author basically focuses on the issues in which the business affects the society. It is also referred to as ‘social justice’, under it the people, societies and culture are accounted for, they are protected through various social programs such as native lands, predatory lending and other forms of corporate hoarding.
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 aspects of CSR in the business world, the conceptual frameworks put forth regarding CSR and law, the quantitative and qualitative approaches into CSR and law and finally, the opportunities for further inquiry into the subject.
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