Ethical/Social Responsibility Introduction Companies across the globe are trying to meet the new requirements of business which involve the prerequisites of the present-day population, without forgoing the capacity of the next generations to fulfil their own requirements…
What is meant by ethical responsibility? Carroll (2010) identifies that the ethical responsibilities are the expectations placed on the business firm by corporate stakeholders and society as a whole, the idea which supposes that the business organisation has not only economic and legal obligations but also certain responsibilities which extend beyond all other responsibilities. Business ethics are considered to be moral principles which guides the manner a business, where performing in an ethical way involves distinguishing between ‘right’ and ‘wrong’ and then taking the right path. For example with a perspective of ethical responsibility, it is desired that no company should use child labour. Moreover, the corporate social responsibility enforces the company with wider responsibilities regarding minimising the harm to the environment and causing no damage to the communities in which it operates. ‘Anglo American’ is a UK public limited company that operates on a global scale and is one of the world’s leading mining companies. ...
Today a company needs to focus on both developing its bottom line as well as becoming a good business citizen. It is not an easy task for a business organisation to simultaneously remain committed to its financial obligations along with the global trends and to meet its social responsibilities. And this obligation to provide both private and public benefits has forced the organisations to restructure their functional frameworks, rule, and business representation. Also, to cope up with the rapidly increasing global challenges and to specifically understand and improve the current efforts, socially responsible firms must keep on changing their short-term and long-term policies in accordance with the societal requirements. All the leading business organisations have formulated their own code of business principles setting their core values and standard for their operation. In Anglo American’s case, this is called ‘Good Citizenship’. In the same way, companies should adopt and implement voluntary codes of practice that controls their industrial sector, like Anglo American playing an active part in the initiatives such as the Extractive Industries Transparency Initiative, the United Nations Global Compact, and the Global Reporting Initiatives (The Times 100). In recent years, there has been an extensive and compound shift in the way how organisations recognisa themselves with regard to the range of local and global stake holders. As their success, their capacity to react to competitive situations and their Corporate Social Responsibility (CSR) are highly influenced by the quality of relationship they maintain with their lower level management and other important stakeholders like, customers, shareholders, investors, and communities. Major changes in the global ...
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“Ethical/Social Responsibilities Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.net/business/50896-ethical-social-responsibilities.
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It is sometimes also called an international corporation. MNCs play a major role in the rapid globalization of the world today. The first of their kind was British East India Company, which came about in 1600. The second one followed two years later called the Dutch East India Company.
One acted as scriptwriter, the other as director, and the last one as actor.
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But it has more than a stabilizing function for society--it also embodies values. Socially responsible behavior is the root of all contracts. It is also fundamental to environmental and human rights laws. The socially responsible behavior reflects our social mores.
This paper discusses the various ethical responsibilities that individual consumers hold regarding the manner in which their limited incomes are distributed in terms of its impact on those who produce it, the environment or other ethical concerns.
According to Irving (2005, pg.
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However, this is not without its negatives.
Other than these cooperation partners, the company has 186200 employees over 18000 sales points with 491 supplier groups of standard parts (PSA Peugeot Citroen, 2010).
The cooperation partners have greater influencing power upon the company. The board of
Therefore, as a current moral issue, social justice serves as a turning point in which a given society morally distribute or corrects its wealth, privileges and opportunities through social roles. Conversely, the
In this regard, businesses also operate as social institutions that are responsible to internal and external stakeholders. Due to the societal expectations, CSR is necessary in terms of ensuring that organisations embrace sustainable development.
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