Question

Locate a current event article about corporate culture; summarize the article and discuss the ethical ramifications, in a minimum of 2 – 3 paragraphs, based on what was learned during this week about business ethics, corporate social responsibility.

Answer 1

Social responsibility is an ethical framework and emphasizes that individuals have an obligation to act for the benefit of the whole society. Social responsibility is an obligation that everyone must fulfill in order to maintain a balance between the economy and the ecosystem. There may be tradeoffs between economic development, material and social welfare and the environment, though this has been challenged by several reports over the last decade. Social responsibility means maintaining a balance between the two. It applies not only to business units but also to environmentally friendly people. This is an idea that aims to provide safe healthcare for people living in rural areas and to eliminate obstacles such as distance, financial condition and more. This responsibility may be passive, avoid engaging in activities that are harmful to society, or actively engage in activities that directly promote social goals. Social responsibility must be passed on from generation to generation because the actions of one generation have consequences for future generations.

Businesses can use ethical decisions to secure their businesses by making decisions that allow government agencies to reduce their involvement in corporations. For example, if companies follow the US Environmental Protection Agency's (EPA) guidelines on harmful emissions and even take steps to engage in the community and address issues the public may have, they will be less likely to. Get an EPA to study environmental protection. However, the key element of privacy thinking now is "self-regulation" rather than marketing or government mechanisms for protecting personal information. According to some experts, most of the rules and regulations have been created due to public outrage that threatens to profit the most and thus the welfare of shareholders and if there is no protest there will be limited provisions.

Some critics argue that corporate social responsibility is different from the core economic role of a business. Others argue that it is nothing more than a modern window dressing or 'green wash'; Others argue that it is an attempt to thwart the role of government as the guardian of powerful corporations, though there is no systematic evidence to support these criticisms. Some studies did not show a negative effect on CSR shareholders ’performance, but instead had a slight negative correlation with improved shareholder earnings.