Corporate Social Responsibility Essay Example Pdf - Free Essay Example

Sample details Pages: 8 Words: 2324 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Critical essay Level High school Tags: Corporate Social Responsibility Essay Did you like this example? What are the implications for a firm that does not conduct CSR? Corporate Social Responsibility (CSR) is often mistaken for a 21st century buzz phrase when in fact it has been part of the business lexicon for decades. While some argue that the concept dates back to the Industrial Revolution, the first substantive work was written by Peter Drucker in his 1954 book The Practice of Management. Despite the passage of time, there is still no universal definition of CSR. Don’t waste time! Our writers will create an original "Corporate Social Responsibility Essay Example Pdf" essay for you Create order Corporate Social Responsibility, what it is and how it is implemented, is different depending upon the country a business operates within, the regulatory system they are answerable to and even the industry within which they work. These complications aside, it is necessary to fix on well-rounded definition of CSR in order to critically discuss the concept in this paper. The definition offered by the International Organization for Standardization will be used, as it is general in nature and applicable to most businesses, regardless their country of operation: â€Å"Social responsibility is the responsibility of an organisation for the impacts of its decisions and activities on society and the environment, through transparent and ethical behaviour that: contributes to sustainable development, including the health and the welfare of society takes into account the expectations of stakeholders is in compliance with applicable law and consistent with international norms of behaviour; and Is integrated throughout the organization and practised in its relationships.† (International Organization for Standardization, 2010) They one weakness in this definition is the proposition that CSR is about compliance with applicable law. In Dahlsruds (2008) analysis of 37 CSR definitions, he identified five critical dimensions. The first dimension is the environment and its consideration in business operations and the second is the social dimension which covers businesses taking into account their impact on society. Both of these dimensions are central to our working definition. The third dimension identified is the economic dimension which looks for a commitment to integrating CSR into business operations is also present as is the fourth dimension which related to how businesses should manage all stakeholder groups in a socially responsible manner (Dahlsrud, 2008). The final dimension, voluntariness, is what is missing from the ISO definition. Dahlsrud (2008) defines voluntariness as businesses making decisions and undertaking activities that are above what is legally required whereas the ISO definition (International Organization for Standardization, 2010) states that mere compliance is acceptable. It is argued that merely complying with the law is better described as good corporate governance and not of itself an act of corporate social responsibility (Ashley and Crowther, 2012; Bà ªnabou and Tirole, 2010). Central to the CSR debate is the notion of how society defines the role of business, and the resulting responsibilities. The classic roles and responsibilities assigned to business are to harness capital and other resources in production, to provide employment and meaningful jobs, to conduct research, development and innovation, to provide goods and services for sale, to create wealth for shareholders, employees, customers and society at large. (Fitzgerald and Cormack, 2011) These core, growth and profit motivated responsibilities do touch on some dimensions of CSR, but comparing these to the responsibilities endowed by CSR shows the amount of change necessary to mov e towards a socially responsible business model. One extreme of the CSR debate, often referred to as the neo-classical or traditional conflict approach (Redman, 2005), argues that the only social responsibility of business is to increase profits (Friedman, 1970). The other end of the spectrum is what Redman terms the â€Å"true believers† (2005, 78) approach to CSR. This is where a firm has environmental and social commitments in place that are not profit motivated. However, true corporate altruism is rare with evidence suggesting that organisations are more likely to adopt an ‘enlightened self-interest approach to CSR (Porter and Kramer, 2006). This is an approach that ties socially responsible activities to profit making activities (Redman, 2005). Enlightened self-interest has been one of the driving forces behind corporate responsibility in relation to the environment and utilization of scare resources. Inputs to production, from raw products to fossil fue ls, are becoming scare and businesses have needed to adapt to these changes or risk extinction (Ashley and Crowther, 2012). So while environmental impacts are now of greater concern to business, it could be argued that this is more the survival of the business than a deliberately socially responsible endeavor (Ashley and Crowther, 2012). At the same time, society now holds greater expectations of the business community (Scherer and Palazzo, 2011). With higher levels of education (for the most part) and thus knowledge, there is less of a tendency to believe the rhetoric of business. Ashley and Crowther argue that customers are not looking for perfection of business practices, but â€Å"the do expect honesty and transparency† (2012, pg.3). The rise and rise of social media has also created a fast and ubiquitous means for people to call businesses to account for (perceived) socially irresponsible acts (Fitzgerald and Cormack, 2011). The media also has the ability to p rovide focus and extensive coverage on businesses who have engaged in dubious practices (Fitzgerald and Cormack, 2011). Companies who use third world (often slave) labour are being named and shamed, and forced to reassess their supply chain practices (Ashley and Crowther, 2012). Despite these inroads, the last decade has seen examples where self-regulation and responsible corporate behaviour have failed spectacularly (Lynch-Wood et al, 2009), causing such events as the Global Financial Crisis. Few, if any, parts of society remain unaffected by these events. The response by policy makers and legislators has been swift and punitive. The net result being greater compliance and reporting requirements across most organisations and industries. Now there exists little distinction between what would have been considered a CSR organisation and one that practices good corporate governance (Money and Scheper, 2007; Mason and Simmonds, 2014). It would be disingenuous to deny that th e CSR movement has not had a positive impact on the business community. However, the overwhelming amount of progress in socially responsible action has been sparked by the depletion of natural resources and the need for businesses to diversify operations, changes in society and societal expectations of business and government legislative response to corporate failings. Being socially responsible is now just good business, an essential component of operational and strategic decision making (Porter and Kramer, 2006). Whichever way it is has been achieved, there are consequences that still exist for organisation that do not conduct CSR. Both the perception and reality of company performance can be enhanced by adopting CSR. Some pundits argue the payoff is long term, others argue that there is no payoff at all (McWilliams et al, 2006). Above profitability, there are a number of risks organisations face if they do not engage in CSR behaviour. It should be noted that the followin g is not an exhaustive list, merely the ones with the greatest potential impact. Reputational damage has always been a key outcome of socially irresponsible business activities (Walker and Dyck, 2014). Reputation can be defined as the aggregate perception of an organisations internal and external stakeholders (Walker and Dyck, 2014) and represents a firms single greatest intangible asset. Once reputation is lost, or at least impacted significantly, it is difficult to get back. Changes to the speed with which reputation damaging information can spread is also of concern to socially irresponsible organisations as it is much more difficult to hide or deny wrong doing (Ashley and Crowther, 2012).Further to this, Walker and Dycks (2014) research showed a positive correlation between a firms reputation and those with corporate social responsibility. Employee engagement and attracting talent appears to go hand in hand with socially responsible corporate practices (Bhattacharya e t al., 2008). The global economy has been described as a ‘knowledge economy (Fitzgerald and Cormack, 2011), with the greatest corporate assets residing in the intellectual endeavor of staff. Bhattacharya et al. (2008) also argue that CSR is a way for a firm to show their values in practice and thereby emotionally engaging employees to achieve all of the organisations goals. Engaged staff, at all levels of the business, are crucial to complete in a market place that is increasingly saturated by products and services. Differentiating the offering of one business from another (Servaes and Tamayo 2013) is becoming more difficult to achieve, but CSR related activities provide a point of product differentiation. Environmentally sounds goods (such as recyclable plastics) and Fairtrade food stuffs (such as coffee) are two examples of familiar products that have been differentiated by organisations acting in a more socially responsible manner. Firms who fail to innovate in th is way will become followers instead of leaders, and potentially impact their profitability (Blowfield and Murray, 2008). Smarter product and service development needs to start with managers and leaders thinking outside their traditional product and service offerings (Blowfield and Murray, 2008). The move to a more socially responsible business imperative has opened up new markets and opportunities within which an organisation can expand and prosper (Porter and Kramer, 2006). Those organisations closed to CSR will miss these opportunities and run the risk of being left behind. Even if opportunities are identified, access to capital may become increasingly difficult for non-CSR firms. With the rise of Socially Responsible Investment, organisations that do not engage in CSR can limit their access to capital and hence, their growth potential (Porter and Kramer, 2006). Furthermore, organisations run the risk of greater regulatory intervention if they do not change to more soci ally responsible ways. The recent trend towards regulation of business activities has highlighted the fact that if governments and policy makers identify failures in self-regulation, they are more than willing to step in and regulate business behaviour (Lynch-Wood et al, 2009). Legislation changes and compliance requirements are both restrictive and costly to organisations. If organisations fail to go above and beyond the current compliance requirements, they risk more being imposed on their activities (Bà ªnabou and Tirole, 2010). These risks all have the potential to significantly impact an organisations profitability and in extreme cases, long-term survival. These considerations also should be cause enough for businesses to reconsider their default position on CSR initiatives. Whatever the short-comings of the CSR movement, and the ideologically motivated debates about definition, society and the global economy are radically changed. Being socially responsible is now the only way to do business. Corporate Social Responsibility is a sounds business concept, but long fought debates around its definition have reduced the impact that it may have had on the business community. The fact remains that even if organisations conduct themselves in a socially responsible manner, there is some level of profit-motivated self-interest underpinning these decisions. The greatest headway in moving (forcing?) organisations to be more socially responsible has been societal and environmental changes external to the firm. Global industry and populations have led to the degradation of raw materials and fossil fuels which has made it necessary for many industries to reconsider how they do business. Sustainable development has become core to business operations in most sectors and is now more a case of good business practice than falling under the CSR banner. Society has also seen the impact that business has on their natural environment and communities in ge neral, and is now willing and capable of calling organisations into account for irresponsible, unethical behaviour. In summary, forces external to the organisation have had a greater influence in moving organisations towards the CSR ideal than the CSR movement itself. Regardless of how more socially responsible business practices are achieved, the change is positive and widespread. Substantial risk still remains for those businesses who do not adopt CSR practices. The implications include reputational risk, the inability to attract and retain staff and the possibility of increased regulation. Failing to embrace CSR also has the potential to impact the long-term suitability of an organisation, reducing access to capital, missing opportunities for growth and the failure to differentiate your brand from the rest of the pack. The conclusion being that being socially responsible is no longer optional, it is simply the way good business is done. References Ashley, P. and Crowther, D. (2012), Territories of social responsibility. 1st ed. Farnham, Surrey, England: Gower. Bà ªnabou, R. and Tirole, J. (2010), Individual and Corporate Social Responsibility. Economica, 77: 1–19. Bhattacharya, C.B., Sankar, S., Korschun, D., (2008), â€Å"Using Corporate Social Responsibility to Win the War for Talent†, MIT Sloan Management Review, (https://sloanreview.mit.edu/article/using-corporate-social-responsibility-to-win-the-war-for-talent/) Blowfield, M. and Murray, A. (2008), Corporate Responsibility: a critical introduction, OUP. Dahlsrud, A. (2008), How Corporate Social Responsibility is Defined: an Analysis of 37 Definitions†, Corporate Social Responsibility and Environmental Management, 15 (1), pp 1-13. Drucker, P. (1954), The Practice of Management, Allied Partners, New York. Fitzgerald, N. and Cormack, M. (2011), The Role of Business in Society. An Agenda for Action, Joint Initiative by the Conference Board, Harvard University CSR Initiative and the International Business Leaders Forum on behalf of the Clinton Initiative. ( https://www.hks.harvard.edu/m-rcbg/CSRI/publications/report_12_CGI%20Role%20of%20Business%20in%20Society%20Report%20FINAL%2010-03-06.pdf ) Friedman, M. (1970), â€Å"The Social Responsibility of Business is to Increase its Profits†, The New York Times Magazine, September 13, 1970, pp 122-126. International Organisation for Standardization 2010, Guidance Standard on Social Responsibility (ISO 26000). Lynch-Wood, G., Williamson, D. and Jenkins, W. (2009), â€Å"The over-reliance on self-regulation in CSR policy†, Business Ethics: A European Review, 18 (1), pp 52-65. Mason, C., and Simmons, J. (2014), â€Å"Embedding Corporate Social Responsibility in Corporate Governance: A Stakeholder Systems Approach†, Journal of Business Ethics, 119, pp 77-86. McWilliams, A., Siegel, D.S., and Wright, P.M. (2006), â€Å"Corporate Social Responsibility: Strategic Implications†, Journal of Management Studies, 43 (1), pp 1-18. Money, K. and Schepers, H. (2007), Are CSR and Corporate Governance Converging? Journal of General Management, 33 (2). Porter, M.E., and Kramer, M.R.(2006), â€Å"Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility†, Harvard Business Review, December 2006, pp 78-93. Servaes, H. and Tamayo, A. (2013), â€Å"The Impact of Corporate Social Responsibility on Firm Value: The Role of Customer Awareness†, Management Science,59,(5), pp. 1045–1061. Redman, E., (2005), â€Å"Understanding the Corporate Social Responsibility Continuum†, LBJ Journal of Public Affairs , 18, pp 72-84. Walker, K. and Dyck, B. (2014), The Primary Importance of Corporate Social Responsibility and Ethicality in Corporate Reputation: An Empirical Study, Business and Society Review,119 (1), pp 147–174.

Setting Analysis of the Story a Rose for Emily - 1007 Words

An analysis of the setting of â€Å"A Rose for Emily† by William Faulkner’s William Faulkner is one of the greatest writers of the twentieth century. Although he was born in New Albany, Mississippi in 1897 he moved to Oxford, Mississippi before his fifth birthday. Faulkner belonged to a once-wealthy family of former plantation owners (eNotes.com, Inc., 2012). He spent his boyhood hunting and fishing in and around Lafayette County (eNotes.com, Inc., 2012). William Faulkner based most of his stories and characters closely to his life and the ones that had the greatest influence in his life. The South’s historical legacy is what Faulkner often wrote his novels based on and that it what helped him gain recognition. Faulkner moved around to†¦show more content†¦Although it shows the old social order of how things were during that time period it also shows us how it is slowly dying. Townspeople probably had a hard time adjusting to the death of the old social order but felt it was necessary instead of trying to hold on and stay true to the old w ays. Characters as well as the setting both set the tone for the story and the change that was taking place. Emily although didn’t embrace change still longed for companionship since the death of her father. After being controlled by her father her whole life she now felt she needed to be in controlled. Even though Homer represented modernity and industrialization she enjoyed his companionship. Homer brought innovation to the rapidly changing world of this Southern town. Emily’s macabre bridal chamber is an extreme attempt to stop time and prevent change, although doing so comes at the expense of human life (SparkNotes Editors). Emily’s house also represents alienation, mental illness, and death (Larinde). It is a shrine to the living past, and the sealed upstairs bedroom is her macabre trophy room where she preserves the man she would not allow to leave her (Shmoop University, Inc., 2012). Emily stays firmly planted in a subjective realm of time, where life moves on with her in it but she stays committed, regardless, to the past (SparkNotes Editors). Reference Page eNotes.com, Inc..Show MoreRelatedA Rose for Emily889 Words   |  4 PagesLiterary Analysis for â€Å"A Rose for Emily† Sometimes a Rose is Not a Rose: A Literary Analysis of â€Å"A Rose for Emily† In the short story â€Å"A Rose for Emily†, written by William Faulkner, the negative impact of Emily’s upbringing by an overprotective father, leads to incredible pattern in her life and the obvious mental illness that takes over as she not so graciously ages. 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Solutions and summary to chapter Essay Example For Students

Solutions and summary to chapter Essay The team owners initially obtain the rights to players through and annual draft that is used to allocate new players among the teams in the league. They also can obtain the rights to players by purchasing them room another team. Players do not like this process and often argue that they should be free to negotiate with all teams in the sporting league. In this case, they would be free to play for the team that offers the most desirable contract. Owners argue that his change in rights would have a negative effect on the distribution of talent across teams. We will write a custom essay on Solutions and summary to chapter specifically for you for only $16.38 $13.9/page Order now In particular, they argue that all the good players would end up on rich, media center teams such as NY or LA (because the teams can pay higher salaries. ) The inequity of players across teams would make the sport less interesting to fans and thus destroy the league. Do you think the owners argument is correct? Explain. I believe the owners argument is correct. If all good players were in the same team or distributed among the two richest teams, this or these teams would always win amusement for consumers. 3-13. Locust Hill Golf Club is a private country club. It charges an initiation fee of $23,000. When members quit the club, they receive no refund on their initiation fees. They simply lose their membership. Salt Lake Country Club is also a private golf course. At this club, members Join by buying a membership certificate from a member who is leaving the club. The price of the membership is determined by supply and demand. Suppose that both clubs are considering installing a watering system. In each case, the watering system is expected to enhance the quality of the golf course significantly. To finance these systems, members would pay a special assessment of $2,000 per year for the next three years. The proposals will be voted on by the memberships. Do you think that the membership is more likely to vote in favor of the proposal at Locust Hill or for the one at Salt Lake country club? Explain. Locust Hill Club members have a greater power of acquisition compared to the embers of Salt lake Club, since membership at Salt Lake is determined by the market. Nevertheless, there are probably less members at Salt Lake than at Locust since Salt Lake members have to wait for a member to leave in order to enter the club while Locust Hill members Just have to pay an initiation fee to enter. In this case, Salt Lake might be a more exclusive club, but it really depends on the pressure exerted by supply and demand so it cant actually be determined. Due to this probable exclusivity of members at Salt Lake, the membership would probably vote in favor of Salt lake Club, whose members are more involved in club activities and desire to have a better club. Members at Locust Hill wont leave the club since they would lose $23,000 on leaving and therefore if they dont have a watering system they would still be members. Members at Salt Lake without a watering system might consider selling their memberships and therefore the prices of these memberships would lower. 3-17. Two men, Robinson Crusoe and Friday, have been marooned separately on the same deserted island. There are two activities each man can undertake to obtain DOD: fishing and gathering coconuts. Robinson Crusoe can catch 40 fish per hour or gather 10 coconuts per hour. Friday can catch 10 fish per hour or gather 8 coconuts per hour. Answer the following questions: a) Who is more efficient in each activity? .ubd3540fc106be967921c87d2c9c4e5fd , .ubd3540fc106be967921c87d2c9c4e5fd .postImageUrl , .ubd3540fc106be967921c87d2c9c4e5fd .centered-text-area { min-height: 80px; position: relative; } .ubd3540fc106be967921c87d2c9c4e5fd , .ubd3540fc106be967921c87d2c9c4e5fd:hover , .ubd3540fc106be967921c87d2c9c4e5fd:visited , .ubd3540fc106be967921c87d2c9c4e5fd:active { border:0!important; } .ubd3540fc106be967921c87d2c9c4e5fd .clearfix:after { content: ""; display: table; clear: both; } .ubd3540fc106be967921c87d2c9c4e5fd { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ubd3540fc106be967921c87d2c9c4e5fd:active , .ubd3540fc106be967921c87d2c9c4e5fd:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ubd3540fc106be967921c87d2c9c4e5fd .centered-text-area { width: 100%; position: relative ; } .ubd3540fc106be967921c87d2c9c4e5fd .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ubd3540fc106be967921c87d2c9c4e5fd .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ubd3540fc106be967921c87d2c9c4e5fd .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ubd3540fc106be967921c87d2c9c4e5fd:hover .ctaButton { background-color: #34495E!important; } .ubd3540fc106be967921c87d2c9c4e5fd .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ubd3540fc106be967921c87d2c9c4e5fd .ubd3540fc106be967921c87d2c9c4e5fd-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ubd3540fc106be967921c87d2c9c4e5fd:after { content: ""; display: block; clear: both; } READ: Marcel Duchamp EssayCould either or both of them benefit from meeting and deciding to form a trading relationship? Explain intuitively. Intuitively, Robinson is more efficient in both activities: fishing and gathering coconuts. Since Robinson can handle both activities allocating part of his time to fishing and other part of his time to gathering coconuts, he doesnt need help and Hereford will not benefit from a trading relationship. Friday needs the trading relationship because he is not as efficient in any of the activities as Robinson. In the case that Friday helped out Robinson and they formed a trading agreement, he fish the other half. B) Robinson and Friday have not yet met. Robinson is working 2 hours a day and producing (and consuming) 48 fish and 8 coconuts (note: the fish are very small. ) Friday is also working 2 hours a day, but he is producing and consuming 15 fish and 4 coconuts. Now assume that Robinson and Friday meet and develop a trading relationship. Come up with a production and trading scheme such that they can each work the same amount per day as before, but each is better off than before. Provide specific numbers to show how they are better off. The way to obtain more fish and coconuts working together is for Robinson to solely fish during two hours per day and for Friday to solely gather coconuts for two hours a day, yielding 48 fish and 4 coconuts for each of them. 3-18. Suppose that annual demand in the U. S. Market for ice cream cones can be expressed as SQ = 800 + 0,21 loop, where SQ is the number of cones demanded in lions of cones, I equals average monthly income in dollars, and P is the price in dollars per cone. Supply can be expressed as SQ = 200 + 1 APP (with the same units for quantity and price. ) a) Graph the demand and supply curves for ice cream cones, assuming that the average monthly income is $2,000 and solve for equilibrium and quantity. The equilibrium of the market is given at a price of $4 per ice cream cone and a quantity supplied and demanded of 800 ice cream cones. B) Now assume that average monthly income drops to $750 and supply is unchanged. Draw the new demand curve on the same graph as used above and love for the new equilibrium price and quantity. How would you describe the shift in demand intuitively? The equilibrium of the market is now at a price of $3 per ice cream cone and a quantity supplied and demanded of 650 ice cream cones. The Demand curve shifted to the left, indicating less quantity demanded and the supply curve remained the same. At the price of $4, when the average monthly income was of $2,000, the quantity of ice creams cones demanded was of 800, while when the income lowers to $750 at this price the quantity demanded of ice creams is of 550 ice cream cones.