Corporate Social Responsibility in Times of Financial Crisis - Assignment Example

Assignment Cover Sheet 200336 Business Academic Skills College of Business -- School of Marketing number: Unit and number:200336 Business Academic Skills Workshop day: Workshop time: Workshop room: Workshop tutor: Title of assignment: Essay Development Length: 500 words Date due: In Workshop Week 10 (beginning 27 September) Date submitted: Campus enrolment: Declaration: 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 acknowledgement is made in the assignment. No part of the assignment/product has been written/produced for me by any other person except where collaboration has been authorised by the subject lecturer/tutor concerned. I am aware that this work may be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking). I am aware that the plagiarism detection software programs are not the only means we will use to detect plagiarism (i.e. having a zero report may still result in plagiarism). Signature: ______________________________________ 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 11am day of 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 drop box in the BAS vUWS site no later than 11.00am on the day of your workshop. Extension of due date for submission If students need to apply for a short extension of time to complete an assessment item they should attach all supporting documentation to the completed Request for Extension form which is available from a Student Centre, the UWS website or from the ‘Support’ folder in the BAS vUWS site. Requests for extension must be submitted no later than three working days prior to the due date of the assessment task to Parramatta Campus, School of Marketing, Building ED (Reception) or Campbelltown Campus, School of Marketing Building 22A (Bev Booth). After that period, requests for extensions will not be accepted and students will need to apply for special consideration. Special consideration If students need to apply for a 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 vUWS 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 penalised by 10 per cent per day up to 10 days, i.e. marks equal to 10 per cent 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 organising 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 learnt 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 Insert your responses in the boxes below: Thesis Statement With regard to the recent economic recession and ethical considerations the global recession has brought forth an increased need to develop, implement, and monitor the imposition of increased corporate governance. Main argument 1: Topic Sentence Corporate governance regulations promote corporate social responsibility. Explanation 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 establishments 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 organizations 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 organizations 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 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 wide spread 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 evidences that they have failed. Explanation The recent economic recession did more than cause 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 framework is 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 of the undeniable assertion that neo-classical finance has failed to function with a more than 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 in 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 Is directly related to the essay question. /10 0-2.5 3.0-4.5 5.0-6.0 6.5-7.0 7.5-8.0 8.5-10 Main arguments There are less than 3 arguments or The arguments do not link back to the thesis statement and There is no logical sequence There are less than 3 arguments which link back to the thesis statement and May or may not be ordered in a logical sequence There are at least 3 arguments which link back to the thesis statement and May or may not be ordered in a logical sequence There are at least 3 arguments which somewhat support the thesis statement and They are ordered in a logical sequence There are at least 3 arguments which mostly support the thesis statement and They are ordered in a logical sequence There are at least 3 arguments which support the thesis statement and They are ordered in a logical sequence /10 0-2.5 3.0-4.5 5.0-6.0 6.5-7.0 7.5-8.0 8.5-10 Supporting evidence Assertions do not have: An explanation; OR Supporting evidence; OR Concluding statement Most assertions have: An explanation; or Supporting evidence; and Concluding statement which may or may not link back to the thesis statement Most assertions have: An explanation; Supporting evidence; and Concluding statement which may or may not link back to the thesis statement Each assertion has: An explanation; Supporting evidence; and Concluding statement which links back to the thesis statement Each assertion has: An explanation; Supporting evidence; An elaboration and Concluding statement which links back to the thesis statement Each assertion has: An explanation; Supporting evidence; An evaluation and Concluding statement which links back to the thesis statement. /20 0-4.5 5.0-9.5 10.0-12.5 13.0-14.5 15.0-16.5 17.0-20.0 Concluding 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. There is a thesis statement but it is not clear however The thesis statement is related to the essay question. There is a clear thesis statement which takes a position and The thesis statement is somewhat directly related to the essay question. There is a clear concluding statement that summarises the main assertions and Links back to the thesis statement. The concluding statement: Summarises the main assertions and Links back to the thesis statement. /10 0-2.5 3.0-4.5 5.0-6.0 6.5-7.0 7.5-8.0 8.5-10.0 In-text citation Few or no sources are acknowledged and/or Do not follow the Harvard system Some sources are acknowledged but Do not follow the Harvard system Most or all sources are acknowledged but Do not accurately follow the Harvard system Some sources are acknowledged and Accurately follow the Harvard system Most sources are acknowledged and Accurately follow the Harvard system All sources are acknowledged and Accurately follow the Harvard system /10 0-2.5 3.0-4.5 5.0-6.0 6.5-7.0 7.5-8.0 8.5-10.0 PRESENTATION Grammar and Presentation There are major grammatical errors which make the essay difficult to comprehend Does not use assessment template OR Most student information is not filled OR Essay plan is not within word limit. There are a lot of spelling, grammatical and punctuation errors. Uses assessment template Some student information is filled in Essay plan is not within word limit There are some spelling, grammatical and punctuation errors; Uses assessment template Most student information is filled in Essay plan is within word limit Is mostly free of spelling, grammatical and punctuation errors; Uses assessment template All student information is filled in correctly Uses size 12 font; Essay plan is within word limit There are minor spelling, grammatical and punctuation errors; Uses assessment template All student information is filled in correctly and completely Uses size 12 font; Student details are in footer; and Essay plan is within word limit Is free of spelling, grammatical and punctuation errors; Uses assessment template All student information is filled in correctly and completely Uses size 12 font; Double-spaced; Student details are in footer; and Essay plan is within word limit /10 0-2.5 3.0-4.5 5.0-6.0 6.5-7.0 7.5-8.0 8.5-10 Section 2: Essay Development Reference list (30/100) This part of the assessment is designed to develop students’ research skills and ability to record the bibliographic details of various genres of resources including books, scholarly journal articles, and other published material as well as electronic resources related to the topic area. This section will evaluate what students have learnt from the library’s online tutorials – Successful Searching and Business Information Basics and Workshops 4 and 5. Details: Researching Reference list Students are required to locate and accurately document the bibliographic details of ten (10) scholarly sources relevant to the assessment question below. There needs to be a representative sample of scholarly resources (academic journals, books, websites, etc.). For reference details, students should refer to Part F of the Appendix in the textbook or the Library’s Citing Resources (Harvard) on their homepage for advice on the Harvard style of referencing. To complete this part of the assessment task, it is highly recommended that students complete the homework tasks for Workshops 4 and 5. Week 4 homework required students to go through the library’s Successful Searching workshop and complete the corresponding vUWS quiz. This tutorial explains locating items on the reading list; searching the library catalogue; and obtaining other basic research skills. Once completed, students should have progressed to the Business Information Basics library workshop in week 5 which builds on the foundations established with Successful Searching. Here students are provided with a business-related assignment topic and shown how to build a bank of relevant information using various business-specific resources. Assessment Question: Discuss the importance of ethics in business in light of the recent global financial crisis (GFC) Note: All the references may not be appropriate for the final essay, but should demonstrate that you are aware of the various resources available and are able to record the bibliographic details accurately in Harvard style. write your reference list on the next page ESSAY DEVELOPMENT REFERENCE LIST Start REFERENCE LIST here: Allio, R. J. (2010) In this recessions aftermath, CEOs face unique threats and opportunities. Strategy and Leadership, pp. 27-33 Carrigan, M., and Pelsmacker, P. d. (2009) Will ethical consumers sustain their values in the global credit crunch? International Marketing Review, pp. 674-687 Ferguson, J. (2010) Accounting education, socialization and the ethics of business. Business Ethics: A European Review, pp. 1-22 Karaibrahimoglu, Y. Z. (2010) Corporate social responsibility in times of financial crisis. African Journal of Business Management, pp. 382-389 Kidder, R. M. (2009) The Ethics Recession: Reflections on the Moral Underpinnings of the Current Economic Crisis. London: Institute for Global Ethics Maioli, S., and Hudson, R. (2010) A response to “Reflections on a global financial crisis”. Critical perspectives on international business, pp. 53-71 Schnietz, K., and Epstein, M. (2005) Exploring the Financial Value of a Reputation for Corporate Social Responsibility During a Crisis. Corporate Reputation Review, pp. 327-345 Smith, A., and Skinner, A. S. (1999) The wealth of nations. London: Penguin Books The Ethics Resource Center. (2009) Ethics in the Workplace Improved During the Recession, National Employee Survey Shows [online] available at [accessed 16 September 2010] Yonchak, D., Smith, P. and Rose, A. (2009) Corporations Need to Tackle Global Corruption as Strategic CSR Effort [online] available at [accessed 15 September 2010] SECTION 2 – DEVELOPMENT REFERENCE LIST /30 Clear Fail Needs Work Pass Credit Distinction High Distinction Selection Does not contain at least 3 different genres of resources and Does not have a mix of electronic and non-electronic resources OR Most references are not scholarly Contains at least 3 different genres of resources but Does not have a good mix of electronic and non-electronic resources and Most references are not scholarly Contains at least 3 different genres of resources but Does not have a good mix of electronic and non-electronic resources OR Some references are scholarly Contains at least 4 different genres of resources Has a good mix of electronic and non-electronic resources Some references are scholarly Contains at least 5 different genres of resources Has a very good mix of electronic and non-electronic resources Most references are scholarly Contains at least 6 different genres of resources Has an excellent mix of electronic and non-electronic resources All references are scholarly /10 0-2.5 3.0-4.5 5.0-6.0 6.5-7.0 7.5-10.0 8.5-10.0 Relevance There are less than 10 references and Most references do not appear to be directly related to the question There are less than 10 references OR Only 4 references appear to be directly related to the question There are 10 references and Only 5 references appear to be directly related to the question There are 10 references and Only 6 references appear to be directly related to the question There are 10 references and Only 8 references appear to be directly related to the question There are 10 references and All references appear to be directly related to the question /10 0-2.5 3.0-4.5 5.0-6.0 6.5-7.0 7.5-10.0 8.5-10.0 References Not in any known referencing format missing required bibliographic details; and the formatting is incorrect OR no reference included Not in Harvard style but all required bibliographic details are present including access date and web pages; and the formatting is correct OR there is a variety of referencing styles References are in Harvard style but: some required bibliographic details are not present and/or it is formatted incorrectly The Harvard style is somewhat perfect: most of the required bibliographic details are present; or the order of the information is incorrect and it is formatted correctly The Harvard style is near perfect: all required bibliographic details are present; but it is not punctuated properly and/or the formatting is slightly wrong The Harvard style is perfect: author’s names are presented correctly date presented and correctly formatted; titles are italicised all required bibliographic details are present including access date and web pages; punctuated properly; and formatted correctly /10 0-2.5 3.0-4.5 5.0-6.0 6.5-7.0 7.5-10.0 8.5-10.0 Section 1 (70) Section 2 (30) Sub- Total Number of Days Late Late Penalties (10 marks/day) Total Read More