Explain with examples what is meant by Corporate Social Responsibility and discuss why it is important to modern business In today’s world‚ Corporate Social Responsibility (CSR) has been one of the topics that every company must be concerned with. It is usually viewed as a legal obligation for every company to create social benefits alongside with the profit gains (Peng and Meyer 2011‚ p.297). CSR is a crucial factor for our society and environment. If there is no campaign to encourage us to
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In recent years corporate social responsibility (CSR) is increasingly becoming a part of a large number of companies. It is becoming an important activity for businesses throughout the globe‚ and many organizations have rebranded their core values to include social responsibility. People look at CSR to deliver benefits especially vis-a-vis environmental‚ social and economic aspects. It helps businesses to build up credibility and reputation which the public can identify with. However‚ it could be
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Corporate Social Responsibility: What Went Wrong at GlaxoSmithKline? When London-based GlaxoSmithKline (GSK) paid a $750 million dollar settlement as part of a plea agreement that required it’s Cidra‚ Puerto Rico subsidiary SB Pharmco to plead guilty for knowingly selling contaminated medicine‚ it laid to rest any doubts that its business practices were in direct conflict with its commitment to both quality and to creating a strong ethical culture. There are‚ nevertheless‚ important issues
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387 From supply chains to value chains: A spotlight on CSR Malika Bhandarkar and Tarcisio Alvarez-Rivero* 1. Introduction Corporate social responsibility (CSR)1 has become a hot topic in boardrooms across the world. Changes in corporate value systems are being driven by pressures from different actors‚ including governments‚ consumers‚ non-governmental organizations (NGOs) and institutional investors (diagram 1). Multinational corporations (MNCs) have operations spread across the globe‚ relying
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CSR Corporate Social Responsibility: A Value Adding Business Function Prepared by: Randeep Moore Student ID: 301064174 BUS 421: Kim Trottier Abstract This paper examines the similarities and findings of three academic papers related to Corporate Social Responsibility (CSR) in accounting. Assumptions are made regarding the importance of CSR to the success of businesses. By looking at three different pieces of literature from the accounting field‚ there is strong evidence that suggests
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Explain how Social Responsibility’s conceptions of freedom‚ morality and duty differ from those of libertarian theory. Which theory fits your understanding better and why? Firstly‚ social responsibility gives enough freedom to the media. However‚ expect it to act responsibly in its news report‚ act as watchdog to the society. Secondly‚ social responsibility theory mainly leads itself in a free circumstance of media area but there is a limitation to show its duty. Social responsibility requires the
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Corporate Social Responsibility Theories: Mapping the Territory The Corporate Social Responsibility (CSR) field presents a scene of speculations as well as a multiplication of methodologies‚ which are dubious‚ perplexing and vague. This article tries to illuminate the circumstance‚ "mapping the domain" by characterizing the primary CSR speculations and related methodologies in four gatherings: (1) instrumental hypotheses‚ in which the organization is viewed as just an instrument for riches creation
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Journal of Business Ethics (2009) 88:119–132 DOI 10.1007/s10551-008-9825-x Ó Springer 2008 Chinese Consumers’ Perception of Corporate Social Responsibility (CSR) Bala Ramasamy Mathew Yeung ABSTRACT. The findings of this article increase our understanding of corporate social responsibility from the consumers’ perspective in a Chinese setting. Based on primary data collected via a self-administered survey in Shanghai and Hong Kong and results of similar studies conducted in Europe and the
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Business Ethics: A European Review Volume 20 Number 1 January 2011 Online privacy as a corporate social responsibility: an empirical study Irene Pollach Aarhus School of Business‚ University of Aarhus‚ Aarhus‚ Denmark Information technology and the Internet have added a new stakeholder concern to the corporate social responsibility (CSR) agenda: online privacy. While theory suggests that online privacy is a CSR‚ only very few studies in the business ethics literature have connected these
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Does Corporate Social Responsibility Affect Firms’ Performance?1 Laura Poddi2 Sergio Vergalli3 July 28‚ 2008 Abstract In the last two decades in the OECD countries there have been a raising development of firms certified as Social Responsible (CSR is the acronym of Corporate Social Responsibility). This kind of certification is assigned by private companies that guarantee that the behaviour of a certain firms environmentally and sociologically correct. Some papers (among others Preston
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