Ethical Theories And Corporate Social Responsibility

4.0 Ethical Analysis In this section, I will explain traditional and contemporary ethical theories, corporate social responsibility, governance and leadership, sustainability, globalisation, managing business ethics and the impact of changing business environment on corporate social responsibility. 4.1 Traditional Contemporary Ethical Theories and Corporate Social Responsibility Corporate Citizenship Traditional ethic starts from ancient Greeks to the ethics of Christianity. It supposes that God s or gods authority is unquestionable and God created everything and all creatures have an aim in this universe. Traditional ethic is more about emotions. However, the contemporary ethic is more rational. It aims to reach maximum freedom and minimize harm to other humans. Traditional ethics limited freedom of thought but contemporary ethics set thoughts free. Only the limit is to do not hurt others (Hubpages, 2011). Firstly, corporate social responsibility is the responsibility of enterprises for their impacts on society and to fulfil corporate social responsibility, firms need to provide assistance for the environment and human rights. Additionally, firms should purpose to improve their shared values to their shareholders and stakeholders (European Commission, 2011). Another definition of CSR is to promise to provide financial development for firm s shareholders and better working conditions for firm s employees (The World Business Council for Sustainable Development,Show MoreRelatedShould Companies Bear The Corporate Social Responsibility Of Employment Practices Among The Multinational Corporations?1299 Words   |  6 Pagesbear the corporate social responsibility of employment practices among the multinational corporations? This essay will illustrate why the specific ethical issue is essential, analyse further ethical question, define current comprehension of ethical issues, analyse the act of ethical utilitarianism by forecasting three important positive and three important negative consequences, and should companies bear the corporate social responsibility or not. Firstly, the corporate social responsibility (CSR)Read MorePersonal Motives For Corporate Social Responsibility933 Words   |  4 Pagesfor Corporate Social Responsibility (Graafland, J. Mazereeuw-Van der Duijn Schouten, C. 2012) analyze the motivations of directors to take responsibility for the labor, environmental and social aspects in business. It distinguishes the Corporate Social Responsibility (CSR) by conducting a survey consisting of a sample of 473 executives. What is more, the motives are classified as three types: â€Å"financial motives†, which is external, â€Å"ethical and altruistic† which are internal. the corporate socialRead MoreTheories And Frameworks Of Csr1315 Words   |  6 PagesFrameworks There are various theories and frameworks of CSR that helps organisations to attain a positive position in society. These are as follow: 1.2(a) - Pyramid of Corporate Social Responsibility The modern definition of CSR is rooted in Carroll’s Pyramid of Corporate Social Responsibility. This model outlined the four different elements of CSR which include economic responsibility, legal responsibility, ethical responsibility and philanthropic responsibility. (Carroll, 1979). The pyramidRead MoreThe Ethical Standards Of Corporate Social Responsibility1126 Words   |  5 Pagesin corporate social responsibility for the fifth consecutive year (Orwell, 2014). Known for its exorbitant executive salaries, â€Å"golden parachutes†, and lavish management perks during the infamous financial bailouts of 2009, AIG still struggles to regain consumer confidence (Orwell, 2014). Multiple corporations grapple with how to meet the ethical standards of corporate social responsibility in today’s global economy. Becoming a triple bottom line company would help a business meet its ethical obligationsRead MoreAnglo American Corporate Social Responsibility1514 Words   |  7 Pagescannot be said to have responsibility†¦Ã¢â‚¬ , the improvement of the notion of Anglo-American corporate social responsibility (CSR) has rapidly expanded. This essay will review the important concept around Anglo-American CSR, its development and provide a verdict on the extent whether liberalisation, globalisation, and developments in the markets for debts and equity are impacting the tradition view of an Anglo-American public corporation and the nature of its social responsibility. 2. Tradition view AccordingRead MoreThe Concepts Of Csr And Financial Performance1450 Words   |  6 PagesTo measure the corporate social responsibilities and financial performance, the property and concept should be the first concern. This chapter aims to provide a detailed description of the concepts of CSR and financial performance. The framework and theories of CSR and financial performance are analyzed in the following sections. In addition, the measurement of corporate social performance and financial performance are also discussed. 2.1 What is CSR? After more than one hundred years of improvementRead MoreImpact Of Human Decisions On The Social Responsibility899 Words   |  4 Pagesprojected onto the social corporate responsibility context through the various decisions made by business personnel based on their ethical values which directly or indirectly affect their employees and other people in the society as well. People’s decisions are often based on their moral perceptions of things. These perceptions are often sculptured by their diverse cultural backgrounds thereby bringing varying moral perceptions of global issues. In corporate social responsibility, the social concept of moralityRead Moreâ€Å"Why Companies Can No Longer Afford to Ignore Their Social Responsibilities†1388 Words   |  6 PagesIgnore Their Social Responsibilities† Theme of the Article Over the years, the perspective of corporate social responsibility has evolved in Corporate America. Today, many businesses have made promises to contribute to current social problems, such as the environment and labor standards. Companies are now looking at corporate social responsibility as a sustainability tactic that can benefit their overall market value. Companies that do not pay attention to their social and ethical responsibilitiesRead More Corporate Governance and Ethics Essay1498 Words   |  6 Pagesit should not be done unethically and jeopardize the financial, social status as well as the reputation of the company, ultimately causing them to suffer in the end. There are systems put into place to avoid such acts that are generally overseen by the board of the directors of organization. In most companies the board of directors consists of shareholders or former employees of the company. Due to the recent scandals in corporate America many companies have acted quick ly in actually implementingRead MoreDifferent Perspectives On Corporate Social Responsibility959 Words   |  4 PagesIntroduction Corporate social responsibility refers to the responsibility that corporate organisations have on those internal and external parties around them. Many influential people have provided different perspectives on what the ideal corporate social responsibility is, two of these people are Friedman and Freeman. However, all perspectives have limitations, and because of this, the Key Gardens principle has been developed to provide a the basis for assessing possible moral minimum for organisations