What is CSR?
corporate social responsibility is a diverse term utilized by current business activists in order to define the relation of employers with other colleagues, with society and with the core activities of the organization that can benefice people and society in one way or other. Fundamentally, Corporate Social Responsibility has been illustrated as a commitment which organizations do with society in order to develop the region economically in which it used to do its core business activities. (Idowu, Filho, 2009) Today, no business can touch the apex of success until it develops proper CSR and ethical strategy. Hence, ethics and CSR has closed relation since both of these components involve human resource and their attitude towards society and other factors.
CSR and Ethics:
Ethics is regarded particular way of behavior of an individual towards society or some other individuals. Similarly, Business ethics indicate the attitude of an organization towards business and social matters. It is especially concerned with the issues related to ethical and moral values of that particular organization. (Chryssides, Kaler, 1993) Hence, it can be stated that business ethics is something related to the situation, decision and activities which the organization management take while keeping the ethical values under consideration, contemplating these aspects from the perspective of right and wrong.
The Essay on Ethics, values, and social responsibility
In the finance field there are a number of ethical issues although many issues in this field are governed by law. Ethical issues in finance include individual conduct, financial institution operations and financial markets operations. In this field people are trained to perform different duties and thus finance ethics is diversified. However, the top five issues in this field include honesty and ...
Ethics and CSR have strong interrelationship with each other since without complying with ethical codes, no organization or individual can come up with the standards of corporate social responsibility. Hence, today, for the success of an organization, it is mandatory to develop effective CSR policy and for that purpose, it needs to develop an authentic ethical policy as well.
Keeping all these factors under consideration, the elements of CSR and ethics can be categorized in two different parts.
Personal ethics:
From business perspective, Personal ethics is related to the ethics of individuals working within an organization. For conducting corporate social responsibility, an individual has to comply with different aspects related to personal ethics. For instance, there must be strong adherence of values, contribution towards environmental sustainability, effective corporate principles to follow and experience in dealing with customers, suppliers and other components of the society as well.
Organizational ethics:
Organizational ethics is related to the values and principles which have been founded on the basis of right and wrong. Like individual, who has responsibility towards organization, colleague and society, organization also has responsibilities towards employers, society, customers and stakeholders. For this purpose, the organization has to develop authentic values, standards, code of ethics and guidance.
No business can gain successful position without employing effective CSR policy and keeping this thing under consideration, all big, Small and medium organizations have employed CSR policies in order to make their business processes effective.
The Essay on Importance Of Ethics And Social Responsibility In The Business World
Strategic ethics and social responsibility are two of the most important, yet perhaps most misunderstood concerns in the world of business today. By their very nature, these fields are controversial, and there is no universally accepted approach for solving their questions. On the other hand, government is encouraging organizational accountability for ethical conduct, and organisations are being ...
HSBC Saudi Arabia:
A well known organization of Saudi Arabia working with the motto “putting your needs first”, HSBC has been considered as one of the best examples in this regard. (http://www.hsbcsaudi.com/home/home_en.shtml) The example can be taken from the HSBC report (2004) in which four different trends have been promulgated including maintenance of environment, sustainable development, satisfaction of the employer and setting up new goals, visions and agendas. Similarly, three different CSR themes had been discussed including standardized ethical implication surety, poverty decrement and creating fair social scenarios. Hence, it can be considered the best example for illustrating significance of employing CSR policy in today’s business horizon.
CSR And Marriott Hotel in developed and underdeveloped country:
Marriot has been regarded number one hotel in UK in 2012 and the reason behind this award is the CSR policy which this organization has employed in order to get this position and come up with social requirement in develop countries like England. Hence, it has been reported in 2011 environmental report that Marriott has been assuming FTSE policies of human rights, labor standards and anti-corruption in order to make its global economic CSR policy more effective and compatible for international markets as well. (http://www.marriott.com/corporate-social responsibility/corporate-responsibility-awards.mi)
However, if the analysis of Marriot hotel Pakistan is done, it would appear that the CSR policy adopted by regional management of this country is not as much effective as the other one is. This might be due to the difference in regional culture and customer demands as well. However, this branch can also maximize the profit if it will employ effective CSR policy basing it on ethical values.
References
“Accomplishments.” Corporate Social Responsibility Awards for Marriott Hotels. N.p., n.d. Web. 15 Nov. 2012. .
Chryssides, G. D. & Kaler J.H. (1993).
An Introduction to Business Ethics. London: Chapman & Hall.
HSBC, . ., 2011. HSBC Saudi Arabia Limited. [Online] Available at: http://www.hsbcsaudi.com/home/home_en.shtml [Accessed 18 November, 2011].
The Term Paper on Corporate responsibility
“Corporate responsibility is part of the liberal elites campaign to destroy capitalism”. Discuss. Based on the view of the economist Michael Friedman (1970), the sole responsibility of any business is to make profit and nothing else. According to him only people fully have actual responsibilities. But his view is now unfashionable due to the fact that recent businesses are now exposed to other ...
Idowu, Samuel O., and Filho Walter. Leal. Professionals’ Perspectives of
Corporate Social Responsibility. Heidelberg: Springer, 2009.
HSBC . 2004. Corporate Social Responsibility. Saudi Arabia. 21 – 22 June 2004, HSBC : Qatar.
