Critical Reflection On Corporate Social Responsibility Projects Accounting Essay

Critical Reflection On Corporate Social Responsibility Projects Accounting Essay The aim of this paper is to provide a critical reflection considering the ethical point of view of the CSR projects which companies are increasingly launching with the global emerging trend of corporate social responsibility in the business world today. The purpose is to evaluate the objectives of these campaigns, comparing if they are rather actions targeting profits or/and better corporate image or if they are truly altruistic actions driven by the increase of the concern involving the global issues nowadays. WHAT IS THE PURPOSE OF A CORPORATION? Indubitably, this question has been widely discussed for many years, as great theorists show different point of views, arguing that either the primary objective of an organization is to maximize value or to be devoted to its mission and essentially satisfy the stakeholders needs. Basically there are two main theories: shareholder value theory and stakeholder theory. The first one argues that the only objective of a company is to maximize profit and generate value to its shareholders. At the other extreme is the stakeholder theory, which suggests that the organization not only should make profits and create value to the shareholders but also please their stakeholders, such as customers, employees, suppliers, local communities, and society at large. (Morgan Stanley, 2008) One of the earliest precursors of the shareholder value theory is Milton Friedman that emphasized once: So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not. (Friedman, 1974) On the other hand, Dave Packard the co-founder of the Hewlett Packard proposed a distinctive cause for company existence: I think many people assume, wrongly, that a company exists simply to make money. While this is an important result of a companys existence, we have to go deeper and find the real reason for our being. As we investigate this, we inevitably come to the conclusion that a group of people get together and exist as an institution that we call a company so that they are able to accomplish something collectively that they could not accomplish separatelythey make a contribution to society, a phrase which sounds trite but is fundamental. (Packard, 2002) The ground of the stakeholder theory is not far from the corporate responsibility concept or trend, which undeniably attract much attention in the last years. As the theory, CSR objective is to determine all the stakeholders and pursue a balance between the main concerns and goals of each one of those (Morgan Stanley, 2008). While Friedmans and Packards points of views represent extremes opinions, others have promoted a mid-term approach. Peter Drucker, for example argued that a middle ground is essential for one business to be considered successful as illustrated on the statement bellow: A business that does not show a profit at least equal to its cost of capital is socially irresponsible; it wastes societys resources. Economic profit performance is the base without which business cannot discharge any other responsibilities, cannot be a good employer, a good citizen, a good neighbor. But economic performance is not the only responsibility of a business Every organization must assume responsibility for its impact on employees, the environment, customers, and whomever and whatever it touches. That is social responsibility. (Drucker, 1954) All in all, the fact is that there are many diverse opinions among specialists and executives. Therefore, in my opinion the CSR of one company is influenced mainly according to the beliefs and values of its leaders, especially the CEO, rather than the mission statements of the organization. CORPORATE SOCIAL RESPONSIBILITY IS INCREASING AS A TREND BUT DECREASING WITHIN COMPANIES Before analyzing more extensively the corporate social responsibility as a trend within the companies, I truly believed that the CSR practices were substantially increasing. However after reading the 2008 Morgan Stanley publication about the topic, I was surprised with the results. Considering the methodology utilized by Morgan Stanley, It seems that the overall real concern of CSR is decreasing over the last 15 years. Although the organizations might be investing more in CSR projects, the damage/harmfulness caused by the companies is increasing on larger scale. So, this means that the negative actions are not being covered by CSR practices. Instead, the careless with CSR is increasing much more than the projects as could be analyzed in the table below. KLD defines a set of potential strengths (for example, charitable giving) and a set of potential concerns (e.g., hazardous waste). For each company, KLD assigns a value of 1 if the strength or concern exists and a 0 otherwise. (Morgan Stanley, 2008) In conclusion, besides the strengths are increasing, the concerns are rising more rapidly and the net value of the strengths minus concerns is decreasing each year. Evidently, that the result presented could be argued and probably other studies with different methodologies could show diverse outcomes. However, I personally like the methodology because not only shows what companies are doing well but also consider what they are doing wrong. Nevertheless, in my opinion does not matter if they are investing more if they are depreciating even more. Even though, companies are not emphasizing CSR as I would expected so, unquestionably the trend is increasing within the society, followed by the pressure for new management practices and concerns with the environment. A good evidence to illustrate that hypothesis is the rise of the relevance and coverage of this topic at the universities. One study conducted by Lisa Jones Christensen in 2007, aimed to further investigate the importance of CSR, Ethics and Sustainability at the top 50 global MBA programs. The results showed that 84% of the schools that responded oblige students to take courses of one or all of these subjects. Even more 25% represented a stand-alone course. Comparing with The Ethics Resource Center study conducted in 1988, when 75% of Ethics, CSR, and Sustainability Education were a required part of the program and only 5% of the MBA programs required a separate course on ethics. (Christensen, Peirce, Hartman, Hoffman, Carrier, 2007) Summarizing, in my point of view CSR is a relevant subject and it is an increasing trend among the society, however companies are not giving the importance they should to these practices. Moreover, as will be presented on the next section, companies could gain more profits with a different approach of CSR. COMPANIES INVEST IN CSR AS MEANS TO MAXIMIZING VALUE OR TO DO THE RIGHT THING AS AN END ITSELF? As Michael Jensen discuss in the article Value Maximization, Stakeholder Theory, and the Corporate Objective Function, published by the Journal of Applied Corporate Finance in 2001, there are two alternative reasons for organizations to finance CSR initiatives. The first one is known as the moral theory, which CSR considers organizations as good corporate citizens by losing profits when necessary to serve other stakeholders, including society at large (Jensen, 2001). Above all, corporations have responsibilities to their customers, employees, and communities that should be given at least equal priority with their economic goals for their shareholders. On the other hand, the economic theory for CSR suggests it as a positive-NPV investment. More simply, presume CSR as the same as any business investment decision: Invest in all essential stakeholders if there are expected returns, at least equivalent to the cost of capital. (Morgan Stanley, 2008) Nevertheless, the main question to address is why companies are investing in CSR? For economic reasons, expecting returns, or they are really concerned and are investing with moral arguments? To answer that question, once again I will reference the Morgan Stanley study. The article states the premise that corporations that are more disposed to reduce shareholder returns for stakeholders would probably invest not only to increase their CSR strengths but also to decrease their CSR concerns. In other words, those organizations would adopt the idea of First, do not harm. Therefore, such companies would make efforts both to increase their CSR strengths and reduce their CSR concerns. In contrast, companies concerned with the returns of the investment in CSR would give priority on building their strengths, as many of them do it to make a public demonstration of ones progress, instead of focusing their efforts to address the weaknesses. Especially because usually is very costly to eliminate many CSR concerns. As I predicted, the results shows that companies invest on CSR projects primarily to maximize value rather than endorse stakeholder commitments as an end in itself. This means that businesses are financing CSR to strengthen their attributes instead of eliminating the CSR concerns. However, the most interesting factor is that the same research found that companies with more CSR strengths or fewer CSR weaknesses presented higher returns. This suggests that financing CSR initiatives generates profit and long-term value maximization, as could be observed in the graph below. Even more, companies which focus on reducing the concerns and thinks primarily on the stakeholders rather than profits, in a long run makes better results that corporations which allocate resources on strengthen their CSR attributes and have the economic approach. In other words, being ethic and altruistic considering the investments is more profitable! (Morgan Stanley, 2008) (Morgan Stanley, 2008)

Causes and Effects of Land Pollution

Land pollution is one of the gravest kinds of pollutions. I say so because we do not realize when and how we pollute land due to different things we do and decisions we take. We realize the air is getting polluted when we step out of our houses and take a deep breath. We know when our actions cause water pollution, for we can see for ourselves the quality of the water worsening. Similarly noise, light, visual pollution can all be monitored, because we can all see or sense these kinds of pollution. However, land pollution is a hard one to get since we do not understand and we cannot comprehend which of our actions cause destruction of land.What is Land Pollution? When the anthropogenic effects of development adversely affect land (especially in turns of quality of land), it can be termed as land pollution. This brings us to an important question – what counts as an adverse effect? The answer is simple – anything that reduces the productivity and potential of a piece of l and. Here, ‘productivity and potential' refers to prospective uses of a piece of land for any of the different purposes for which land is used; including infrastructure, housing, services, agriculture, forestry, etc.If any of the effects of human development reduce the potential of a piece of land to be used for any good purpose, it amounts to land pollution. Causes of Land Pollution 1. Degenerative Actions encompass a lot of human actions, including – deforestation, overuse of pesticides and chemical fertilizers, desertification, mining, inefficient and / or inadequate waste treatment, landfill, litter, etc. Many of these are unavoidable; however, definitely the severity of these actions in terms of the effects they have on the land can be reduced by taking appropriate and adequate corrective measure.For example, the amount of litter produced can be hugely reduced if we all strictly say NO to plastic. The key here is to conduct a thorough EIA – Environmental Imp act Assessment. 2. Misuse of Land mainly refers to felling of trees to clear land for agriculture, as well as processes like desertification and land conversion. Desertification is when anthropogenic effects of human development and / or other actions converts a piece of (essentially) fertile land into desert-land or dryland. Isn't that a scary thought?Land once converted to desert-land can never be reclaimed by any amount of corrective measures. This is also a serious issue because t does not only affect the land, but also the overall biodiversity of a place, specially when land is cleared for agriculture. A lot of indigenous flora and fauna is lost in the process. 3. Inefficient Use of Land – surprised? Does inefficient use of land count as a cause of land pollution? Yes. Why? Due to the consequences of inefficient use of land. Inefficient use of land as such is not going to cause land pollution.However, inefficient use of land amounts to wastage, and hence shortage of land ; and it is precisely during such conditions that man has to resort to measure such as deforestation and others to meet his needs. It is an important, albeit an indirect cause of land pollution that is often largely neglected. 4. Soil Pollution is when the top-most ‘soil' layer of land is destroyed or polluted. Soil pollution is again another cause of land pollution that affects not only the land, but also a lot of other things such as forest cover of a region, productivity of land in terms of agriculture, grazing etc.Soil pollution is also caused by wrong agricultural practices, such as overuse of chemical fertilizers and pesticides. This causes non-biodegradable chemicals to enter and accumulate in the food-chain – a process often referred to as biomagnification of a pollutant. 5. Land Conversion is the process whereby a piece of land is converted from its indigenous form to a form used for either agriculture or infrastructure. Land conversion is especially a growing problem that we possibly do not have a good – or a good enough – solution for.The best way to avoid land conversion is to make efficient use of the available land. Using a piece of land to its maximum potential is the key to eliminate many of the causes of land pollution. Other key causes of land pollution include – urbanization, improper waste disposal, industrial activities, nuclear research, chemicals released by all sorts of heavy industries, coal-fired power plants, metals production industries, etc. Effects of Land Pollution 1. Effects on Climate Land pollution can affect the general environment of the Earth.Land pollutions leads to loss in the forest cover of Earth. This is in turn going to affect the amount of rain. Less rains mean lesser vegetation. The effect of all different kinds of pollution will eventually lead to problems like acid rains, greenhouse effect, global warming. All of these problems have already initiated and need to be curbed before t he situation runs out of control. 2. Extinction of Species One of the major causes of concern is the extinction of species. Species are pushed towards endangerment and extinction primarily by two processes.Habitat fragmentation is the fragmentation of the natural habitat of an organism; cause primarily by urban sprawl. Habitat destruction, on the other hand, is when land clearing adversely affects animals special such that their natural habitat is lost. Both the actions can cause some species to go extinct and others to become invasive. 3. Biomagnification Biomagnification is the process in which certain non-biodegradable substances go on accumulating in the food-chain (in one or more species).The most common example is of methylmercury in fish and mercury in eagles. Not only does biomagnification put the particular species at risk, it puts all the species above and below it at risk, and ultimately affects the food pyramid. 4. Effects on Biodiversity Species extinction and biomagnif ication is going to overthrow the balance of nature very significantly. The main reason for this is disturbance created in the food chain. To give you a very simple example – on account of biomagnification of mercury in eagles, they might go extinct in the subsequent years.However, we know eagles prey on snakes. Less (or no) eagles will then result in more number of snakes! As you may have realized, land pollution is indeed going to affect a lot more things than we though it will. Hence, I leave you with some corrective measure you can take on a personal level to reduce land pollution. Encourage organic farming – buy organic food. Proper garbage disposal – separate your garbage before you give it to the garbage collector; and strictly say NO to plastic.Encourage recycling – buy recycled products, notebooks, paper, etc. Restrict use of herbicides and pesticides – they are not only used in farm, but in your own backyard as well. If we reduce our cont ribution to garbage and litter, therein itself we will be able to significantly reduce land pollution and probably curb it entirely in the near future. Also do realize this isn't only about land pollution; it is about all kinds of pollution. We need to take steps to prevent damaging our Earth. We have no other place to go.

Vital Pieces of Essay Samples for College Applications

Vital Pieces of Essay Samples for College Applications Colleges are not searching for perfect individuals. Since our writers are experts in several forms of papers, we understand how to target your college no matter the discipline you chose. Our professional writers can enable you to do that. What You Need to Do About Essay Samples for College Applications Before You Miss Your Chance There are plenty of steps you have to observe to compose an essay that will secure a top position whilst applying for college. Much like any other paper every student faces in university or college, the very first step to compose a great admission essay is picking a topic. Because you are interested in getting the essay to communicate the ideal information about you, you have to do thorough preparation for the sample college admission essays to accomplish its purposes. With this kind of sample college admission essays, you cannot have any struggle when it has to do with writing your custom made admission documents. Referring to sample college application essays on the internet is one of the greatest strategies to learn to compose outstanding college admission essays. A brief sentence is utilised to make the emotional resolution of the admission essay. Make a brief list of points you want to emphasize in your admission essay. A brief answer essay provides the college a helpful window into the applicant's interests. If you are in need of a well-crafted essay, then you can count on us to deliver. Your college essay should contain information that are related to the instruction offered to you. Before you commence writing your college essay, you might need to see the essay examplesA that we've listed for you, so that you may have more idea on what things to put in the college essay you will create. Writing the college application essay can be among the most daunting sections of applying to college. Alongside with a fantastic reputation, it supplies a wide selection of activities that are aimed to prepare true professionals, just like I wish to become. 1 way to acquire a notion of what colleges are seeking is to read some fantastic essays from students who've been successful in their bid to put in a selective university. A great education is something which most of us aspire to have. Participating in such a huge study from begin to finish has validated my interest in academic research for a p rofession. It's apparent that college essays play a substantial role in regards to new students being admitted to different colleges and universities. Stephen connects his previous experience to his present maturity through self-knowledge. Explain your commitments, and you are going to be the type of student colleges find immensely attractive. 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The Lineages of Conformity in Mailer’s The White Negro...

Norman Mailer’s 1957 essay, titled â€Å"The White Negro: Superficial Reflections on the Hipster†, traces the lineage of conformity (and, as a result, nonconformity) in American society post World War II, as well as the counter-cultural reaction of the time, the â€Å"white negro†. Considered a cultural phenomenon, these â€Å"white negros†, or â€Å"hipsters†, as Mailer deems them, distanced themselves from white culture, and adopted black styles of clothing, language, and music. However, this phenomenon seemed to be somewhat isolated, appearing specifically in cities where the â€Å"Negro culture† had much to offer, in places such as New York, New Orleans, Chicago, Los Angeles, and San Francisco. (Mailer) These hipsters represented a fascination or an interest†¦show more content†¦Mailer argues that this act of violence, though not necessarily a particularly physically taxing effort on the youths’ part, and not necessarily â€Å"therapeutic† due to the circumstances, â€Å"the hoodlum is therefore daring the unknown, and so no matter how brutal the act it is not altogether cowardly.† (Mailer) The courage stems from the idea that not only are the youths murdering another human being, they are also trespassin g, creating conflict with authority, and introducing a â€Å"dangerous element (Mailer) into their lives, thrusting the young hipsters into direct conflict with society. In this way, the hipster is also considered an outlaw. A nonconformist, a hipster can only function on the fringes of society. Mailer’s mid-twentieth century hipster opposes society as well as any sense of collective responsibility, leading a lifestyle like a â€Å"petty criminal, hobo, a carnival roustabout or a free-lance moving man in Greenwich Village†. (Mailer) Nevertheless, for all Mailer’s attempts at situating the hipster within the context of post-world war trauma, this persona exists across socio-historical boundaries. There will always be individuals ready to seek liberation and self-gratification through violence rather than submit to rigid societal mores. Like Mailer’s definition of a hipster, today’s

Other Goat And Ram Gods - 1407 Words

Other Goat/Ram Gods Among the various goat/ram Egyptian gods besides Pan and Amon/Amen, there occurs Khem/Khnum, Banebdjedet, Mendes, Bacchus, Set, Min, Horus, Ra, Osiris, that parallel goat presentations. Predominantly, these particular gods intertwine their relationship together due to their sexual standings. Due to Pan’s sexual perversions, predictably Egypt had claims of different places being â€Å"the only place of goat worship;† nevertheless, there are conspicuously numerous locations. Mendes (Djedet) became one of the main areas; yet, clearly there are numerous others. In the wide development of goat gods, the god Min excels as one of the oldest ever found in Egypt. Min’s powerful dominating presence overtook the land maximizing the worship of sex. Concurrently, in Koptos, there are three gigantic figures of Min broken into various pieces. Min became a god shown all over Egypt sometimes in male human form, and assuredly occurs directly equated with Pan. Indeed, the enigmatic Min persists as being always shown naked within the temples and in the sanctuaries; which typically contained elaborate shires for him. Unequivocally, Victorian Egyptologists took only waist-up photographs of Min due to his protruding penis. The connection with Min and Pan grew to great heights in the capital city of Akhmim. Prevalently, Pan’s authority grew to such influence that they renamed it Panopolis, as the â€Å"City of Pan† where another temple of Pan advanced. Regretfully, theShow MoreRelatedGenesis Chapter 15 : God s Covenant Of A Son And Land918 Words   |  4 Pageshis refusal of his share of the treasures from the King of Sodom. In Genesis 15, God appeared to Abram and told him he would receive a â€Å"great reward† because of his faithfulness and his demonstration that he was a true believer. Abram expressed to God his frustration of not have an heir, other than a servant, to pass his rewards to. 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Letter to a friend Free Essays

Dear, I understand that you have been looking for a class to help you with your writing skills.   While this is not a writing course, I believe that this class will be able to help you because it is designed to help students understand and appreciate literature.   The name of the class is English 2120WWW. We will write a custom essay sample on Letter to a friend or any similar topic only for you Order Now    It offers teachings on the works of the likes of Robert Frost, John Steinbeck and Ernest Hemmingway. The course outline covers many areas that are useful.   There are sections that are devoted to drama, which include the works of Arthur Miller and David Mamet.   The next section covers poetry and includes the works of Robert Frost, Wallace Stevens, TS Elliot, Elizabeth Bishop, Allen Ginsberg, Sylvia Plath, and Robert Pinsky.   This section also offers the works of Asian poets such as Cathy Song and Li-Young Lee.   If you remember, these poets included in the poetry section each contributed to the development of poetry by introducing a unique style that has appealed to all generations. Perhaps the part of the lesson that you will enjoy is the section on fiction which discusses the works of Mark Twain, Sarah Ome Jewett, Katherine Ann Porter, Edith Wharton, and William Faulkner.   It also has a discussion on the works of Ernest Hemmingway, John Steinbeck, Richard Wright, Kurt Vonnegut and Eudora Welty.   The discussion of these works will be perfect for your studies because the class offers a discussion of all of this material.   There is also a discussion by peers in this class that is directed by the instructor. I must advise you, however, that this class is not easy.   There are requirements that one has to complete in order to complete this class.   The work includes submission of written papers and essays on the pieces of literature that have been discussed in class.   In order to succeed in this class, it is imperative that you read all of the material that is assigned by the instructor.   You must also not just understand the material that you are reading but also analyze the elements of the writing. While it may seem that there is a lot of work to do, it is really not that tedious because the material is presented in a manner that is enjoyable.   There is a perspective that is provided that allows the student to see deeper into these works.   This method teaches the students how to properly appreciate and emulate the works of the masters.   I recommend that you take this class because there is so much that you can learn from it. How to cite Letter to a friend, Essay examples

Business Ethics Theories

Question: Using practical examples,critically evaluate how organisations can adopt and apply ethical theories into their operations to demonstrate their business ethics and CSR programmes? Answer: Introduction Ethics is considered one the most important philosophies to run a business efficiently. The original meaning of ethics being custom or character, but the ethics in todays world means principles of conduct. Business ethics forms an important branch of applied ethics. It consists of subjects that arises moral problems and ethical principles in a business environment. Solomon distinguishes business ethics into three levels: micro, macro and molar. Micro level is concerned with rules that implicate fair exchange between two individuals. The macro level is concerned with the cultural and institutional rules of commerce in a society. The molar level is concerned with the basic unit of commerce. Business is related to both individual and society. Corporate Social Responsibility and ethical practices can be implemented in companies as an idealistic idea. The abuse of power by decision making must be eradicated and behaviors that will be recognized by the stakeholders must be assessed. All th e companies give a right shape to their companies by increasing the social responsibilities towards a better society. Therefore it has an influence on a business. The importance of ethics in business life makes it important for the companies to form ethical codes (Gulcan, 2011). Business Ethics Business ethics is a reflection on ethical dimensions followed in business or institutions. It involves analysis of moral issues and uses categories such as utility, obligations and justice. The problems addressed are internal such as discrimination in promotion and hiring. The external issues concern with the stakeholders, environmental issues and governmental compliances (Brenkert and Beauchamp, 2010). Importance Of Business Ethics To A Company Business ethics is important because the society cares about the well being. Business must use their power in a way that is concerned with interests of multiple stakeholders. The actions or a decision taken by a company affects everyone involved in the organization. The stakeholders include employees, suppliers, shareholders (Bowie, 2013). It is important for an organization to act in a way because the reputation is at stake. The businesses must act responsibly by not causing financial damage. Creating trust and value is important in a business; equally important is to maintain the value and trust. The code of business ethics is important for the company. The righteousness of the act is proven by the consequences. (TrevinÃÅ'Æ’o and Nelson, 2004). Ethical Theories Ethical theories are divided into two main categories- Teleological Theories and Deontological Theories Teleological theories are based on Consequential approach and are also known as result based ethics. Consequentialism is based upon two main principles namely- If the act is right or wrong that is judged upon the results The righteousness of the act is proven by the consequences. The Consequentialism theory is based upon two main theories- Utilitarianism- This theory can be summed up as the greatest good for the greatest number. As per this theory, actions must be evaluated by their consequences. The classical utilitarianism theory was propounded by Jeremy Bentham. The utilitarianism act proves morally right only if it maximizes the utility. The utilitarian sets out relevant alternatives that are devised by him. He lists to individuals who might be affected by the decision or while the decision making process. As assessment is made how the individuals might be affected while applying the alternative acts. An act will be chosen by the utilitarian that would maximize utility. It results in creating the greatest total balance of benefit than harm. Rule Utilitarianism is another form of theory, in which the rule utilitarianism brings out the greatest good (Shore, Coyle-Shapiro and Tetrick, 2012). Hedonism is a fundamental moral obligation for maximizing pleasure or happiness. The doctrine lies in pleasure or happiness or good chief in life. Deontological Theory follows the non-consequential approach for which the morality of actions is based on adherence to rules. They focus upon independent duties. The scientific meaning of deontological theories is the science of duty. The theories in accordance with this theory are duty theories, rights theories. The deontologists believe in acting what is right. The moral philosophy state followed is that of Kants. Professor Kant believed in a theory of doing the right thing even if it produced a bad result (Duska, 2007). Corporate Social Responsibility Corporate Social Responsibility is a concept where companies integrate environmental and social concerns along with their business operations. It is an imperative towards the community and environment. It implies the perspective of an organization to be sustainable. The expectations of shareholders and stakeholders are addressed while maintaining a balance in economic, social and environmental concerns (Okpara and Idowu, 2013) Csr Programmes According to Dobers (2009), CSR has gained importance as organizational value and gained importance for corporations. CSR involves activities that affect the social attributes and environment while adopting advanced human resources management programs. CSR is required by the organizations to expand an understanding of the responsibilities of stakeholders. Ethics can be used as a critical component that affects organizations decisions and responsibilities. CSR also helps in building a corporate reputation (Gonzalez-Perez and Leonard, 2013). Criteria Of Corporate Social Responsibiltiy Economic Responsibility- The economic responsibility in a business is producing goods and services in needs with the society and maximizes its profits for owners and shareholders. It is also called as profit maximization responsibility. It also involves maintaining a competitive position in the market. If a company decides to contribute a part of earning back to the society, it must increase its return. The profitability has to adhere with performance in the marketplace (Daft and Marcic, 2004). Legal Responsibility- Society has to comply with laws and regulations in accordance with earning profits. The laws and regulations that are promulgated by local and state governments must be complied with. The social contracts exist between society and business to pursue economic missions. The laws like equal employment, opportunity commission and environmental protection and a company breaking such laws are considered for their poor performance. The business must engage its resources for business activities and needs to stay within the framework of law. Environmental Responsibility- The environmental approach in CSR programmes includes greater use of renewable resources and greater recyclability of materials. The products produced by the business must integrate environmental management tools into business plans and maintain the environmental standards. The business must aim in causing least harm to the environment and maintain greenery around. Initiatives must be taken by the companies in promoting a greener environment (Babiak and Trendafilova, 2011) According to Morimoto, Ash and Hope (2005), the six key elements to successful implementation of CSR are good corporate leadership, integration of CSR into corporate policy at all divisions in business, good coordination between government and civil society, good stakeholder management and regulation of national and international level (Moon, 2007). The companies can have a pursuit towards long term competitiveness and can utilize a wider community with expertise. The Key Performance Indicators can be used in maintaining a balanced scorecard and measure performance. CSR helps in removal of misconduct in the company by abiding through laws and regulations. Case Studies There are several case studies in the world that have provided examples of implementing corporate social responsibility and abiding with the ethics code. These case studies are examples on how the businesses must incorporate corporate social responsibility and ethics in their business structure. These examples give businesses an idea that the business can attain profitability even with the incorporation of ethics and social responsibility. Football Club Barcelona It is the one of the most attractive and favorite club for football lovers. The club was founded in 1899. The club is commonly known as Barca in order to sustain its identity. The organization faced various ups and downs; there have been phases for success as well as failures. The management board consists of a president and vice president. Various responsibilities were undertaken and socially responsible activities were conducted in order to fulfill the goals. The company did a lot of charity work to show a concern in the society. A few strategic initiatives were undertaken by the club. The company developed sponsorships with a few nonprofit organizations and helped the government with its debt clearance. The company developed alliance with UNICEF to help children having vulnerable diseases, UNESCO in order to handle issue of doping, UNHCR in order to create a healthy and wealthy atmosphere for citizens (Ceskakinantropologie.cz, 2015). The club made efforts to rise in the eyes of pe ople to be more than just a football club. It supported various programs with the aim of providing welfare to the needy people. The foundation is based upon promotion and education of positive values of sports. The company uses children and adolescents as beneficiaries. Football club Barcelona created a sense of trust among individuals with collaboration and shared values. The Catalan contributes a certain percentage of its income to the FC Barcelona Foundation. The company invests in building self-development, community, character and belonging. The management still needs to find new revenue streams facing challenges like other business (Foundation.fcbarcelona.com, 2015). Starbucks Starbucks follows good governance, social responsibility and ethical conduct to the running of business. Starbucks has increased their shareholder value. The company intends to focus on maintaining relationship between company and stakeholders. There were several initiatives undertaken by Starbucks to build a responsible environment. Starbucks commits itself in upholding culture by investing in local neighborhoods and global communities. Starbucks backs youth action by providing them training, employment and education. They also raised funds with Childrens Hospital in Sheffield. Starbucks also committed themselves in creating a sustainable environment. They started providing with eco-friendly cups so that they can be recycled and waste is reduced. They also minimized their energy consumption by using renewable sources of energy. They are identifying ways in order to reduce water usage and the store designs are constructed in a way to involve energy efficiency. They also comply with g etting the highest quality of coffee by ethical trading and responsible growing practices. They are directly working with the farmers to ensure a sustainable supply of coffee. The purchase of cocoa is ensured for a long-term supply and they meet with social responsibility to their suppliers. Starbucks introduced Fairtrade International for launching new fund for smallholders. The climate required to grow coffee is a major problem for farmers in times of climate change. Such problems are addressed and mitigating strategies are designed in order to help farmers. They also applied with Giving Back To Women in Liverpool by helping women who faced domestic violence (Starbucks Coffee Company, 2015). British Petroleum British petroleum is one the largest oil and alternative energy companies in the world (Bp.com, 2015). It has set various confident and meaningful targets and reduced its Carbon dioxide emissions. It has also developed alternative sources of energy like solar power. They have used an image to create a greener environment by making the responsibilities broader that contribute to business decisions. Apart from developing a progressive approach to a greener environment, the company framed ethical conduct policy that adhered with Human Rights regulations. This regulation ensured that all operations are legal and fair in nature by eliminating bribery, facilitation payments and other illegal factors from the company. The company has proposed good business decisions and does not fail its stakeholders by creating efficiency in the organization. The company worked on its sustainable image in order to cultivate ethical behavior reputation. There have been bad phases like Gulf of Mexico explosi on and various other events that have been a result of unethical decision making. But the company strives to be fair and just to its stakeholders. The current business practices pursue self-interests regardless of the demands of human beings. Alternative sources of energy were developed for a better future of the world. The company also intends to make good citizenship by increasing its corporate effectiveness. The company pledged its name with Red Cross for providing financial support. The company also involved with United Nations Global Impact in order to maintain a sustainable environment (Hicks, 2010). Cadbury Schweppes Cadbury Schweppes was formed in 1969 by the merger of a beverage giant Schweppes and chocolate company Cadbury. The first milk chocolate was manufactured by Cadbury and continued processing chocolates till date (Seawright, 2007) .The Company takes the social responsibility seriously and seeks to improve as they have an impact on the society. They believe in respecting human rights thereby trading ethically and interacting with their value chain. It believes in producing best long term results for the stakeholders. Cadbury treats its employees with respect and care. The company gives importance to ethics and takes decisions in a way useful to the company and society. The company has an ethical behavior along with good corporate governance. They treat the stakeholders fairly. They have a well managed corporate and social responsibility and the values are achieved by business principles. They were ranked second and voted as the most admired companies for community and environmental resp onsibility in 2003. The supply chain and distribution process has direct control at the transformation stage that influences the behavior of suppliers and distributors. They monitor supplier and check if they adhere to stringent standards. They conducts environment audit for the policy. The company is a member of global coalition comprised of industry, special interest groups, governments and nongovernmental organizations. They support cocoa farmers and their families. They practice Fair Trade by paying a fixed minimum price to farmers co-operatives. They buy cocoa through sustainable tree crop management programmes. The environmental responsibilities include treating waste water before disposal, improving energy efficiency and control the release of gases in the atmosphere. The company provides high quality refreshments and meets the highest safety standards. The company provides employment and opportunities to people regardless of their age, gender, sexual orientation, marital sta tus and other factors. (Simms, 2005) Corporate Social Responsibility and ethical practices can be implemented in companies as an idealistic idea. The abuse of power by decision making must be eradicated and behaviors that will be recognized by the stakeholders must be assessed. All the companies give a right shape to their companies by increasing the social responsibilities towards a better society. Conclusion Ethical theories and corporate social responsibility can be applied by companies in bringing about success. The companies must adhere with social, legal, economic and environmental responsibilities in along with the regular state of business. The companies must take initiatives in improving the state of society and neighbors. The businesses must not focus entirely on the own business by not regulating with the legal and environmental compliances. Efforts must be taken to make a greener and healthier environment. Corporate Social Responsibility and ethical practices can be implemented in companies as an idealistic idea. The abuse of power by decision making must be eradicated and behaviors that will be recognized by the stakeholders must be assessed. All the companies give a right shape to their companies by increasing the social responsibilities towards a better society. The social practices and ethical dilemmas must be taken into account by the companies. 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