Business Ethics and Corporate Social Responsibility

Essay by jaejae245University, Bachelor'sA-, October 2008

download word file, 2 pages 3.0

Corporate Social Responsibility or CSR covers all aspects of corporate governance. It includes information on how companies conduct their business in an ethical way, taking account of their impact economically, socially, and environmentally. CSR includes relationships with employees and customers. Increasingly companies have to take account of how their actions impact on society. Branding or creating an image has become an important way to add value but it also bring scrutiny to the forefront.

The role of HR in an overseas operation would be to ensure CSR is embedded in an organization's culture to make a change to actions and attitudes, and the support of the top team is critical to success. HR is also responsible for the key systems and processes involved with delivery of the CSR program. Through HR, CSR can be given credibility and aligned with how businesses run. CSR could be integrated into processes such as the employer brand, recruitment, appraisal, retention, motivation, reward, internal communications, diversity, coaching and training.

Corporate social responsibility is not solely about doing the right thing, but it also offers direct business benefits. Having a reputation as a responsible business places a halo over organizations, because many consumers prefer to buy from ethical businesses (i.e.: business to business, business to supplier, business to customer). Moreover, a good reputation makes it easier to recruit good employees as well as reduces the risk of sudden damage to reputations and sales.

In my opinion, corporate social responsibility is some instances can reflect an oxymoron, because the central concept and duty of corporations is to maximize shareholder wealth - sometimes in disregard to consumers' well-being. According to Martin (2002), "the interests of shareholders and those of the larger community are not always opposed, of course. Corporations often willingly engage in socially responsible behavior precisely because...