Ethical Considerations And Social Responsibilities Of...

Evaluate the recent trends on the ethical considerations and social responsibilities of multi-national companies. Corporate Social Responsibility (CSR) is a concept whereby organizations consider the wellbeing of the public by taking responsibility for the effect of their actions on all stakeholders; customers, employees, shareholders, communities and the environment in every aspect of their operations. This responsibility is seen to extend beyond the statutory obligation to comply with legislation and sees organizations willingly undertaking additional steps to improve the quality of life for employees and their families as well as for the local community and society at large. The role of CSR has become dramatically increased over a†¦show more content†¦Companies across the world have seen the need to move into the Fairtrade market. Since the launch of Fairtrade there has been a dramatic increase in sales of their products. Since 1998 the estimated sales of Fairtrade products in the UK alone has risen from  £16.7 million to  £493 million.[2] Muti-national companies have seen the rapid growth and more and more companies are signing up to sell registered Fairtrade products to show the ethical consideration to the producers in developing nations. Costa Coffee who operate mainly in the UK with over 600 stores but also through Europe and Asia, have set up the Costa Foundation with the goal to give something back to the communities within the countries from which we source our coffee beans.[3] Each year the Foundation implement programmes to improve the social and economic welfare of the countries that source their products. It is not just the Multi-national companies in the food and drink market who have adopted into the trend of becoming more socially responsible. HSBC one of the worlds largest banks adopted a ‘go carbon neutral’ campaign in 2005[4]. Its aim was to plant trees, reduce energy use, buy green electricity and trade carbon credits to cut carbon dioxode flows. ThisShow MoreRelatedEvaluate the Recent Trends on the Ethical Considerations and Social Responsibilities of Multi-National Companies.1509 Words   |  7 PagesEvaluate the recent trends on the ethical considerations and social responsibilities of multi-national companies. Corporate Social Responsibility (CSR) is a concept whereby organizations consider the wellbeing of the public by taking responsibility for the effect of their actions on all stakeholders; customers, employees, shareholders, communities and the environment in every aspect of their operations. This responsibility is seen to extend beyond the statutory obligation to comply with legislationRead MoreEssay on Uop Ethics/316 Week 5 Cross Cultural Perspectives1340 Words   |  6 Pagesto similar ethical scenarios. Beekum, Stedam, and Yamamura (2003) suggest these differing conclusions will lead to conflict where one side perceives the outcome is ethical whereas the other does not. Another possible outcome is that one side may not even see a decision even being morally significant. Global organizations have the additional challenge when operating within a multi-national environment of recognizing cultural differences while maintaining a core moral and ethical foundation. Read MoreThe I mpact Of Oil Exploration On Nigeria1027 Words   |  5 Pagesexploration with its attendant environmental degradation for years. Unfortunately, the influx of oil companies and the heightening of their operations in Niger Delta are not matched with an agenda for the development of Nigeria in general and Niger Delta in particular. The oil companies claim to have executed several projects in the host communities as part of their Corporate Social Responsibility. 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This isRead MoreBp Pipeline Case Regarding Ethical Behavior And Decision Makin1709 Words   |  7 PagesBP Pipeline Case regarding Ethical Behaviors and Decision-Makin British Petroleum (BP) has been operating in the United States for decades. They have required most of their refineries through acquisitions in the med the 1900’s, which helped them to become one of the leading oil producers in the world. The acquisition of the Prudhoe Bay, Alaska refineries produces more than five percent of America’s oil. Therefore, it guaranteed BP’s economic goals by continuing producing oil in the United StatesRead MoreSocial Compliance And Environmental Concerns1691 Words   |  7 PagesSOCIAL COMPLIANCE AND ENVIRONMENTAL CONCERNS Social compliance refers to how a business or an organisation treat its employees, the workforce and the environment on social responsibility. It refers to a code of conduct that directs how employees should be treated in regard to wages, work hours and work conditions. To ensure that the company meets with the standards of various environmental laws, it may be necessary to conduct a compliance audit. The various codes of conduct now available are:Read MoreCorporate Social Responsibility ( Csr )3578 Words   |  15 PagesWe examine firms’ use of corporate social responsibility (CSR) as one of their business strategies after a rise in public responses, has led to heightened corporate action. We find that firms are taking more corporate action due to more public scrutiny and fear of financial loss. We find there is an abundance of definitions of CSR but whilst they are all coherent, not one of these definitions is applicable to every industry. With further research, it is highlighted that it would be difficult to increaseRead MoreCarrolls pyramid of Corporate social responsibility: A review and modification1943 Words   |  8 PagesIntroductionFor the past 27 years, Carrolls corporate social responsibility pyramid (CSR) has been widely used by top management and journals to better define and explore CSR. The different components in the pyramid help managers see the differen t types of obligations that society expects of businesses. It is easily understandable and simple. However, the new challenges faced by corporations in the 21st century have warranted a re-examination of Carrolls pyramid. Carrolls CSR PyramidCarrolls