Corporate Social Responsibility Essay

(2) Why should firms undertake corporate social responsibility? Corporate social responsibility (CSR) is a business approach that creates long-term shareholder value by embracing opportunities and managing risks derived from economic, environmental, and social developments. A CSR policy functions as a self-regulating mechanism whereby business monitors and ensures its active compliance with the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, and stakeholders. Customer social responsibility can build the loyalty and trust that both ensure a bright and sustainable future in business. In our global society, corporations are becoming increasingly visible, and are judged on their results and

Apply the Bentley College Center of Business Ethics Test, page 482, to an ethical dilemma you have recently confronted. Would the outcome remain unchanged had you used the test before facing the dilemma? Ethics are moral obligations to separate right from wrong. Legal acts can sometimes present ethical challenges to businesses. Ethics are important in society. They are a dynamic and individual concept strongly influenced by societal governance, laws, regulations, and codes of conduct. A practical way of improving ethical decision making is to run contemplated decisions through an ethics test when in any doubt. This ethics test was used at the Centre for Business Ethics at Bentley College as part of a corporate training program. Decision makers are taught to ask themselves: Is it fair? Is it right? Who could get hurt? Would you be comfortable if the details of your decision were reported on the front page of the paper? Would you tell your child to do it?

How does it “smell”? In conclusion, if you answer “YES” to all six questions, you probably don’t have an ethical