Business Ethics And Corporate Social Responsibility Essay

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Public relations can help organizations craft their standards and implement them through actions and statements. This entry treats CSR as a major function to which public relations can add value in the planning and execution of such organizational efforts. Results indicated that measures of stakeholder power, strategy posture, and economic performance are significantly related to levels of corporate social disclosure. Raymond (Ed.), Accountability forum: Corporate responsibility and core business (pp.

One of the primary discussants in that 30 year-long dialogue, Freeman Freeman & Liedtka, 1991) observed 17 years ago: “The idea of corporate social responsibility has failed to help create the good society. Rochlin, S., Witter, K., Monaghan, P., & Murray, V. Putting the corporate into corporate responsibility.

This essay discusses the perplexities and challenges of corporate social responsibility (CSR).

The essay features the “what”, “why”, and “how” of CSR.

In the 1960s, interest in CSR became feverish as activists at all points of the ideological and geographical compass called for higher standards of business and government performance. Academics argued over the differences between the modern and post-modern organization. Consumer reactions to corporate social responsibility. This study suggests that aligned interest is crucial to and accountable for positive impact of CSR. The role of corporate social responsibility in strengthening multiple stakeholder relationships: A field experiment.

As Basu and Palazzo (2008) observed: “The last three decades have witnessed a lively debate over the role of corporations in society” (p. This scrutiny revealed how CSR standards are defined by the ideology of each society. CSR performance enhances business relationships when consumers see an alignment of their interests and character with that of the company. Journal of the Academy of Marketing Science, 34, 158-166. Dimensions of corporate social performance: An analytic framework. This article suggested using the concept of legitimacy to evaluate corporate social performance. A conceptual framework for environmental analysis of social issues and evaluation of business response patterns. Following Sethi (1975), this article provides a conceptual framework to analyze and evaluate business response patterns along three dimensions (corporate behavior as social obligation, social responsibility, and social responsiveness). Ethics and corporate social responsibility: Why giants fall. Organizations might not get all of the favorable response to CSR that management might desire, but failure to know and meet such standards can harm even the most powerful and ostensibly successful companies.

This view may be more aligned with the dominant concept of CSR and promote a broader, multiple stakeholder approach to corporate governance. For philanthropy to be more strategic and more in turn with CSR expectations, it needs to address much more the nexus of company and stakeholder interests.

If sympathy suggests only philanthropy, we add that CSR demands empathy, an outside-in way of thinking and planning to help management reflect on its role in and impact on the society where it operates. Usually the efforts are biased less to stakeholder than to organization.

Critics believe that Friedman failed to understand the positive advantages to be gained from CSR: Reduce business costs and bolster profits (See the section on Profits and CSR). This study examined a major contention of stakeholder theory: A firm can simultaneously enhance the interests of its shareholders and other relevant stakeholders. If done correctly, there is no inherent conflict between efforts to improve the competitive context and improve society, contrary to Friedman’s concern.

Public relations practitioners added their voices to this controversy. Paluszek (1995) reasoned that advocates of CSR can be committed to profits and the community where they are generated, Business is increasingly in society not only in its traditional role of improving the standard of living—by generating jobs, offering products and services and paying taxes—but also via an overlay of sensitivity that supports employees, empowers customers and investors, and relates to the needs of local, national and international communities. 49) The daunting question raised by this debate is this: Does the price of enjoying the franchise to operate in a society where profits are generated include increasing operating standards so that the organization adds value to that society beyond merely making a profit? The results showed that shareholder returns were significantly and positively related to improving customer service performance required after privatization of U.

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