The myriad shifts in the global business environment as a result of both globalization and the rapid technological advancements witnessed in the 21st century have on one hand transformed and revolutionized the way of conducting business thereby presenting numerous opportunities…
Precisely, enterprises have operation chains that cut across different societies, communities, cultures and national frontiers where they encounter unique business environments that pose both challenges and opportunities; most importantly, multinational corporations must be responsive to the myriad social and ethical concerns in their specific environments of operations (Husted & Allen 2006 p.838).
Ethics and social values are integral aspects of management since businesses have an obligation to take responsibility for the adverse effects of their actions and operations both on the local environment and on the populations in the global business environment (Bennett 2002, p.394). In view of the ambivalent nature of the global business environment, thanks to the challenges and opportunities of globalization and technological advancements, the concept of Corporate Social Responsibility has emerged as one of the crucial areas of management focus today (Lim & Tsutsui 2012, p.69). The heightened global focus on ethical behaviour and societal values implies that multinational corporations have to prove themselves as responsible global actors in their dealings in markets where their operations are hosted across the world. For that reason, multinational corporations the world over are increasingly paying more attention to Corporate Social Responsibility today more than ever before, particularly given its crucial significance in determining not only business success, but also enterprise survival in the long term (Branco and Rodrigues 2006, p.111).
For all the good reasons conceivable, international businesses as well as organisations of various kinds are starting to explore the significance of pursuing a more proactive and comprehensive approach towards CSR as a solution to the myriad challenges of globalization, which undermine sustainable development (Herrmann 2004, p.205). Given that actions ...
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In this report, the concept of CSR especially under globalization and its impact on current businesses are discussed. The key questions examined here are whether CSR is advantageous or disadvantageous to businesses and the challenges faced under globalization to CSR.
This research aims to evaluate and present Corporate Social Responsibility (CSR), to tell how does a firm decide on its CSR, give an examples of CSR activities, demonstrate the Debate about CSR and debate between the “voluntary” and the “mandatory” aspects of CSR. The paper also provides two recommendations for expanding the CSR profile of Wall-Mart
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CSR also helps companies to build and elevate their brand image since consumers today prefer goods with CSR attributes. However like everything else, CSR has controversies like spending more on CSR activities can put pressure on
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