Moral, rational and economic arguments to CSR

Corporate social responsibility is considered as a basis for a moral obligation for the company, because large number of stakeholders of the society is affected by the company’s operations. Business do not operate as a separate entity in the society, instead they have to consider the prevailing social, moral and ethical value system of the society and its people. CSR ensures fulfilling the responsibility imposed on the corporate actions towards the society with which the business operates (Schwartz, 2011). CSR has positive influence on the environment and the stakeholders such as end users, employees, investors, social communities and the Government. CSR ensures Business ethics, which examines ethical and morals, principles and code of conduct for a business

Assignment on Moral, rational and economic arguments to CSR By ABC Dat A moral argument for CSR: Corporate social responsibility is considered as a basis for a moral obligation for the company, because large number of stakeholders of the society is affected by the company’s operations. Business do not operate as a separate entity in the society, instead they have to consider the prevailing social, moral and ethical value system of the society and its people. CSR ensures fulfilling the responsibility imposed on the corporate actions towards the society with which the business operates CITATION Sch11 \l 1033 (Schwartz, 2011). CSR has positive influence on the environment and the stakeholders such as end users, employees, investors, social communities and the Government. CSR ensures Business ethics, which examines ethical and morals, principles and code of conduct for a business. ISO 26000 is an example of the universally recognized international standard for CSR. Companies are criticized when they are not engaged in CSR activities. This avoidance consider as selfish approach by the organizations only concerned about their profitability. Stakeholders demand that this society which enables these companies to grow and operate, now this the moral, ethical and social responsibility to invest in the betterment of the stake holders in terms of quality products, environmental protection and ensuring value system of the stake holders. A rationale argument for CSR: CSR assist organizations to reduce financial and operational hurdles. CSR ensure the operations, processes and activities of the organization according to the state and federal laws. Moreover, business ethical consideration is considered and society’s social, ethical and moral norms and values consider while producing products and services. Such activities protect organizations from lawsuits, fines and court proceedings. Such activities protect the goodwill of the company and develop good image in the eyes of stakeholders. When companies align its operations and follow the prescribed rules, regulation and procedures by the Government and prevailing benchmark standards; it assists in smooth operations of the company (Hopkins, 2007). Competitors also watch the actions of the company and if they found something against the rules, regulations and if the company is not protecting the environment and the interest of the stakeholders, they may exploit such issues in media and courts. Such competitor’s actions create serious concerns for the company. Customer’s loyalty could damage which results in financial losses and goodwill. An economic argument for CSR: Corporate social responsibility is done for the self-interest of the business. CSR assist organization’s in achieving its vision and mission. Stakeholders widely believe that along with achieving business financial objectives, organizations should ensure CSR simultaneously. Companies involved in CSR receive positive response from the stakeholders such as employees, customers and the social communities. Stakeholders believe that companies abide by the rules and regulations relating to price, quality and safety, which is ultimately good for the well-being of the stakeholders. Such perceptions encourage stakeholders to buy and render the company’s products and services. Similarly environmental friendly process and operations and charitable activities such as donations develops positive image of the company among stakeholders. They are more inclined and loyal to company’s products and services. Some organizations adopt CSR as a strategic approach to gain stakeholder’s support to get into the Global market and attaining competitive advantage and sustaining it (Hancock, 2005). References BIBLIOGRAPHY \l 1033 Schwartz, M. s. (2011). Corporate Social Responsibility: An Ethical Approach. Canada: broad view press. Hopkins, M. (2007). Corporate Social Responsibility and International Development: Is Business the solution. USA: Earth scan Hancock, J. (2005). Investing in Corporate Social Responsibility: A Guide to Best Practice, business planning & the UK’s leading companies.UK: Cambrian Printers Ltd.

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Category Consumer Behavior
Paper Type APA
Reference Type Assignment
Words 596

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