CSR AND BUSINESS ETHICS - phdacademy
8
CSR AND BUSINESS ETHICS Are they one and the same? 2019-2020 PHD ASSISTANCE Lab
Transcript of CSR AND BUSINESS ETHICS - phdacademy
PHD ASSISTANCE Lab
CSR AND BUSINESS ETHICS
Are they one and the same? 2019-2020
PHD ASSISTANCE Lab
PHD ASSISTANCE Lab
EXECUTIVESUMMARY
> ThisarticleattemptstodrawafinelinebetweenthenotionofCSR(CorporateSocialResponsibility)andbusinessethics.
> Thearticledrawsfrompastliteraturetohighlightthesubtlevariationsbetweenthetwoconcepts.
PHD ASSISTANCE Lab
BusinessandManagement2 | CSR and Business Ethics
PHD ASSISTANCE Lab
Ethicsinbusinessgenerallytakesintoitsambitissuesper-tainingtocorporategovernanceandcodesofconduct,mor-alprinciplesanddecisionmaking.Ithasbeenarguedthatthereisscopetofindthatbusinessethicsmightcompriseofafundamentaldislocationassociatedwithphenomenalexperiencesthatemergeintheeventthatthingsmightnotbeinplace.Atthetimeofrecognizingpracticesthatprojectethicsinbusiness,researchersoftenfindthemselvesinthedomainofmoralityandadefinitionpertainingtowhatactuallymakesupmorality.Later,actionsinbusinesswouldbejudgednotonthebasisofactionsthatareeffectiveorefficientbutwhethertheactionsweredefensiblefromamoralperspective.Itcanbecomprehendedthatethicsinbusinessasanotionisgraduallychanging,withregardstoinnovativemannerofhowresourcesarebeingmobilizedandutilized,innovativetechnologies,evolutioninprac-ticeswithinthesocietyandgraduallygrowingtowardsabusinessnetworkwhichisconnectedglobally.Anincreaseintheawarenessofthelimitationsofnaturalresources,thegrowthinthedivideofwealthandtheeverpervadingexistenceofbusinesswithinthelifeofanindividualcitizenthroughtechnologieslikecloudcomputingandbigdata,bringtotheforetheissueofethicsinbusinesswithincon-versationonsocietalnorms.
Nonetheless,isitpossibletorecognizeethicsinbusinessasanarrayofstandardsthatorganizationsareknowntopractice?Howdifferentisbusinessethicsfromcorporate socialresponsibility(CSR),atermthathasbecomeabuzzwordacrosscorporatecirclestoday?ApparentlyethicsandCSRhasbeenperceivedbysomeasoneandthesamehowever,thereisafinethinlinethatdissectsthetwo,thisarticleattemptstoexploreCSRfromabusinessethicssetting.
INTRODUCTION
PHD ASSISTANCE Lab
BusinessandManagement3 | CSR and Business Ethics
PHD ASSISTANCE Lab
ThenormativestakeholdertheorywithinCSRhasbeenknowntodrawitsideafromethics.Thusitconfirmsthatorganizationsinvolvedinbusinessareobligedmorallytoconsideranyconcernsexpressedbyabiggerstakeholdergroupcomprisingofcustomers,employees,owners,vendorsandcommunityinsteadoftheownersexclusively.
ThenotionsofCSRandbusinessethicshaveunique identities. Nevertheless, they are fre-quently utilized in reference to the very samecodeorargument.Businessethicsasatermismeanttobeanamalgamationoftwowell-knowntermsviz.,businessandethics.Businesspeo-plemightreachtheveryedgeoforevenmoveover to traditional standards of morality, whilepursuingacreativedestruction,inpursuitofanobjectivethatcouldbeaformofthe‘meansbe-ingjustifiedbytheend’.
CSRisthenviewedasafeethathasbeenleviedontheoutcomesextractedthroughthewrongdoingbybusinessasapenaltytopayforsomeoftherights.Thereby,theincomegeneratedthroughtaxeslinkedwithwrongdoingandex-ploitationarefrequentlyreservedtowardsrestoringtheenvironmentandhealth,ifnotprovidingdownrightincentivesformanufacturingproductsthataremoresalutoryinnature.
CSR from a Business Ethics Context
PHD ASSISTANCE Lab
BusinessandManagement4 | CSR and Business Ethics
Source : PTTEP 2013
PHD ASSISTANCE Lab
CSRforlonghasbeenanintegralaspectofresponsibleandethicalpracticeofbusiness.Nonetheless,thenotionhasgainedincreasedtractioninviewoftheeconomicenvironmentwhichisratherglobalizedcurrently.CSRfunctionsaspertherulethatbusinessesareresponsibletocatertotheirresponsibilitiestowardsawiderspectrumofstakeholdersascomparedtoitsshareholders.CSRshouldneverbeapolicythatisadded-onbyanorganization,butitissomethingwhichisincorporatedwithinthestrategyandstructureofgovernance.Accordingtoareport,ithasbeenobservedthatCSRinitiativestheworldoverhaswitnessedaremarkableincrementinrecenttimesas
“Businesses realize their value not only commercially, but also in terms of boosting employee value, cutting costs and attracting staff”.
Present Pertinence of CSR
PHD ASSISTANCE Lab
BusinessandManagement5 | CSR and Business Ethics
PHD ASSISTANCE Lab
Butthequestionherewouldbe;willcomplyingwitheveryregulationandstandardsaslaiddowninCSRessentiallyensurethatthebusinessentityispractic-ingethicsinbusiness?Isthereacorrelationbe-tweentheactivitiesinitiatedbytheorganizationfromaCSRsettingandbusinessethics?TherehavebeenseveralinstancesoforganizationthatadheretoalltheprescribedstandardsofCSRoutward-ly,butthereisnoindicationthattheyhavebeenethicalintheirbusinesspractices.Instanceswhereunethicalbusinesspracticeshavecometolightisevidentthroughthe‘Enron’fiasco.Duringtheyear2001,EnronwasaleadinggiantandvociferouslyadvocatedandpracticedCSR.However,itwaslaterrevealedthatbusinesspracticesatEnronwerenotentirelyethicalastheymanipulatedtheirfinancialstatements.Thisinstanceandseveralotherclear-lyindicatesthatadheringtoCSRisonethingandbeingethicalinbusinessisanentirelydifferentthingaltogether.
Equating Good CSR Practices with Ethics
PHD ASSISTANCE Lab
BusinessandManagement6 | CSR and Business Ethics
PHD ASSISTANCE Lab
SUMMARY
PerceivingCSRthroughthenormativestakeholdertheory,itcanbeproposedthatCSRisactuallyassubclassofbusinessethics.Stakeholdertheorycommencesontheassumptionthatvaluescouldbeopenlyandessentiallyanintegralaspectofconductingbusiness.CSRisrestrictedinitsdefinitionoftheresponsibilitiesandmandateforabusinesstowardstheirstakeholders.CSRiswhattheorganizationisexpectedtodotogivebacktosocietyorbeingsociallyresponsiblewhereasbusinessethicswouldrequirebusinessownertobesensibleinalltheirbusiness
actionsorbeingmorallyresponsible.
Future Scope
Researchinthisdomaininfuturecouldpossiblyexplorestrategiesthatcanbesetforthtoensurebusinessethicsarebeingfollowedbyorganizations.
BusinessandManagement7 | CSR and Business Ethics
PHD ASSISTANCE Lab
ABOUT US PhDAssistance,isworld’sreputedacademicguidanceproviderforthepast15yearshaveguidedmorethan4,500Ph.D.scholarsand10,500MastersStudentsacrosstheglobe.Wesupportstudents,researchscholars,entrepreneurs,andprofessionalsfromvariousorganizationsinprovidingconsistentlyhigh-qualitywritinganddataanalyticalserviceseverytime.Wevalueeveryclientandmakesuretheirrequirementsareidentifiedandunderstoodbyourspecializedprofessionalsandan-alysts,enrichedinexperiencetodelivertechnicallysoundoutputwithintherequestedtimeframe.WritersatPhDAssistancearebestreferredas‘Researchers’sinceeverytopictheyhandleuniqueandchalleng-ing.Wespecializeinhandlingtextanddata,i.e.,contentdevelopmentandStatisticalanalysiswherethelateststatisticalapplicationsareexhaustedbyourexpertanalystsfordeterminingtheoutcomeofthedataanalysed.QualifiedandexperiencedresearchersincludingPh.D.holders,statisticians,andresearchanalystsoffercuttingedgeresearchconsultingandwritingservicestomeetyourbusinessinformationoracademicprojectrequirement.Ourexpertisehaspassiontowardsresearchandpersonalassistanceasweworkcloselywithyouforaveryprofessionalandqualityoutputwithinyourstipulatedtimeframe.Ourservicescovervastareas,andwealsosupporteitherpartorentireresearchpaper/serviceasperyourrequirementatcompetitiveprices.
Formattype:E-Book
©2019-2020AllRightsReserved,Nopartofthisdocumentshouldbemodified/usedwithoutpriorconsent. UK:10ParkPlace,ManchesterM44EY.UK:+44-1143520021Email:[email protected]:www.phdassistance.com
BusinessandManagement
ABOUT THE DEPARTMENT
BusinessandManagementLabatPhDAssistanceisinvolvedinexploringnovelresearchareasbyconductingdynamicresearch.Itpromotesinnovationinallfieldsofen-gineeringbyadvancingthetechnologywithstructuredandcontinuousresearch.Theproblemsandchallengesfacedbytheexistingtechnologiesandtrendsareexploredbyourresearchersexistinscholarlyliterature,intheory,orinprac-ticesthatneedsdeliberateinvestigationTheseproblemsareidentifiedandfixedbyourresearchersbysuggestingbetternovelalternativeswithappropriatetools,technologiesandapproaches,therebyprovingtheireffectivenessinrealtimeapplications.
REFERENCESBeduschi,L.C.,Contreras,R.,&Holz,R.(2017).InnovationforSustainableRuralDevelopment.Re-trievedfromhttp://www.fao.org/3/a-i7769e.pdf
BoundlessBusiness.(2019).BusinessEthics.Re-trievedOctober8,2019,fromLumenwebsite:https://courses.lumenlearning.com/boundless-business/chapter/business-ethics/
Bradley,J.R.(2011).Remembering“Green”Enron(PartII:CorporateSocialResponsibility).MasterResource.Retrievedfromhttps://www.masterre-source.org/enronken-lay/remembering-green-en-ron-part-ii-corporate-social-responsibility/
Camilleri,M.A.(2017).TheCorporateSocialRe-sponsibilityNotion.InCorporateSustainability,SocialResponsibilityandEnvironmentalManagement(pp.3–26).https://doi.org/10.1007/978-3-319-46849-5_1
Carroll,A.B.(2015).Corporatesocialresponsibility.OrganizationalDynamics,44(2),87–96.https://doi.org/10.1016/j.orgdyn.2015.02.002
Knowledge@Wharton.(2011).CorporateSocialResponsibilityinIndia:NoClearDefinition,butPlentyofDebate.RetrievedOctober8,2019,fromhttps://knowledge.wharton.upenn.edu/article/corporate-so-cial-responsibility-in-india-no-clear-definition-but-plen-ty-of-debate/
ManagementStudyGuide.(2019).ResolvinganEthi-calDilemma.RetrievedOctober8,2019,fromhttps://www.managementstudyguide.com/insider-trad-ing-and-strategies-to-combat-it.htm
Metcalf,J.,&Crawford,K.(2016).WherearehumansubjectsinBigDataresearch?Theemergingethicsdivide.BigData&Society,3(1),205395171665021.https://doi.org/10.1177/2053951716650211
.
.
.
.
.
.
.
.
