Critical Analysis
There are a number of definitions of “idealism” and “realism”. Idealism is referred to behaviour or consideration based on an idea of things as they would be, or as we would like them to be, with an inclination to be unreal or imaginative. Realism on the other hand is referred to behaviour or consideration based on a formation of things as they actually are, in spite of how we want them to be, with an inclination to be practical and realistic. Corporate social responsibility has been defined in many ways; one way to define CSR is that CSR takes into consideration how companies manage their business processes to generate on the whole a positive impact on society. Stakeholders are people who are affected by a business.
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Royle in his journal wants to find out whether employees have substantial rights and if they as a main stakeholder have any influence in the running of the company in one way or another.
The source of the article comes from Blackwell Publishing Ltd.2005. Blackwell Publishing Ltd is one of the world’s leading privately and independently owned in print of scholarly journals and books. What this article does is it gives examples of corporate social responsibility in a specific fast-food restaurant called McDonalds. McDonalds is the world’s biggest chain of burger fast food restaurants, which serves approximately 68 million customers on a daily basis, across 119 countries worldwide Royle has placed great emphasis on both McDonalds in the USA and in Europe and tries to distinguish the differences in how it deals with their employee stakeholders. McDonald’s has joined the ever growing corporations who are trying to be or appear to be socially responsible. McDonalds has started publishing sustainability and social reports and have met with NGOs for example Amnesty International and Greenpeace. McDonalds take corporate social responsibly seriously. In recent times I have personally seen their recycling schemes and reuse schemes, however this would not apply to this article as this article was written in 2005. 90% of McDonald’s employees are low end crew members and this is where the focus lies. Royle argues that work at McDonalds is very
Sustainable development requires companies to meet their objectives while protecting the quality of life of their employees, surrounding community, and the environment. More than 40 years ago, Medtronic 's co-founder Earl Bakken provided the framework for the company 's sustainability strategy by formulating the company 's mission statement that has remained unchanged to the present day. "Medtronic has operated with a clear, compelling mission: To contribute to human welfare through the application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health and extend life" ("Integrated,", 2016, p.4). This visionary mission statement also included a group of ethical guidelines such as the need to strive without reserve for the greatest possible reliability, to recognize the personal worth of employees, and to maintain good citizenship as a company. Those early tenets of corporate responsibility were the foundation of Medtronic 's current sustainability practices.
With the recent corporate scandals involving such companies as Enron and Martha Stewart, the concept of corporate social responsibility (CSR) has once again made its way to the forefront of contemporary management ideologies. However, CSR itself is not a new concept. In fact, societies as far back as the Ancient Mesopotamians (circa 1700 BC) incorporated CSR in their businesses. "King Hammurabi introduced a code in which builders, innkeepers or farmers were put to death if their negligence caused the deaths of others, or major inconvenience to local citizens." With each new "Enron" managers of similar corporations are suddenly placed in the spotlight, causing plans to be put into action to create a more socially responsible company.
Corporate social responsibility is raising concern in recent years. It becomes a key issue for most companies and organizations. Corporate social responsibility is important in the sense that it has strategic implications for corporations in different industries. Previous studies about corporate social responsibility usually explore the relationship between corporate social responsibility and financial performance of a business. However, in this study, the relationship among CSR, Corporate Image and Brand Equity is focused. The company’s activities based on CSR have positive impacts on its corporate image. Also, the more CSR bore by a company, the more positive image the company would have; and both CSR and corporate image would affect the brand equity as a whole. The attempt of this study is to examine the impact of corporate social responsibility towards the operation strategies of McDonald’s. By applying the model of CSR and identifying the relationship among CSR, Corporate Image and Brand Equity, the effects of McDonald’s CSR strategies are projected. The theoretical relationship among the
CSR programs ranges from community development to development in environment, education, healthcare etc. Provision of better medical and sanitation facilities, constructing schools and houses, and making the villagers more self-reliant by providing vocational training programs are the amenities that the organizations focus on. Many of the organizations are helping other peoples by providing them high-quality standard of living. Also, organizations are increasingly joining hands with non-governmental organizations and utilizing their expertise in developing programs which address wider social
Many companies think that corporate social responsibility is a peripheral issue for their business and
With the development of economy and society, large corporations not only have responsible for make profit to their shareholders, but also taking environmentally responsible and undertaking corresponding social responsibilities as well as other stakeholders. This point of view could be involve in the corporate social responsibility (King and Lawley, 2013). Additionally, the definition of stakeholders are individuals or groups which affected by an organization and have an interest in its activities (Freeman, 1984). Moreover, Starik (1994) stated that those who potentially have impact on an organization may also is a stakeholder. However, according to Lynch (2006) argued that when a corporation involve many stakeholders, they
There have been many changes in the way businesses are managed today than it was just a few years ago. Not too long ago, it used to be which product is the cheapest or which one is the most valuable, while nowadays these are not the important criteria in the product purchase process and there are many new factors that consumers consider. Many corporations understood these changes in society that evolved the Corporate Social Responsibility concept and its implications on the companies’ actions. New Balance, one of the biggest footwear companies in the world, was one of the first companies that saw the hidden potential in applying this concept. Despite the applications of social responsibility in the company’s daily activities, it faced difficulties in receiving recognition for its actions because of wrong actions that the company had made in regard of active communication with its stakeholders, difficulty in defining organizational understanding of what social responsibility is and more. In this case, I will present and analyze the actions that New Balance has to perform in order to have stronger and more successful CSR policy in the company.
there were internal failures, more could have been done to ensure that the directors who were not acting ‘illegally’ acted with more consideration for their non-shareholders.
As we all know, corporate social responsibility is a discipline in business practices. This is one of the business practice sector that is most demanding and constantly changing sector in business enterprise. Because of these demanding tasks that corporate social responsibility has posed on business, business leaders or stakeholders has been faced with the responsibility of bringing a favorable environment for business activities. The prospect of corporate social responsibility became famous in the 1960s. Many companies have used this term in an unlawful manner to benefit the business responsibility rather than overall business welfare, which it is meant for (Ferrell 2014, pp. 3-17).
Defining corporate social responsibility or CSR can be as simple as a business that practices benefiting society (Caramela, 2016). Good CSR is one that is constructive to the entire business practices with the community. Sony is a Japanese based electronic store that has ventured to other countries worldwide. They create the newest and latest technology to compete with other competitors and to satisfy their consumer’s curiosity. The company’s mission statement declares, “To be a company that inspires and fulfills your curiosity” (Sony, 2017). With this said, Sony has a variety of interactions with the community as a whole. At Sony, they have an entire website devoted to keeping up with their good CSR practices with the
The essential aim is to hold corporations responsible for their actions and encourage a positive result through their business activities that affect communities, stake holder, consumers and society.
Social responsibility is the accountability of companies for the contacts of its results along with actions on civilization and the surroundings, through crystal clear and ethical performance with the purpose of gives to continue progress together with the strength and the benefit of people. The truth so as to the expressions itself has tainted above this point also recommends that the significance qualified to perception for example, corporate social responsibility will maintain to progress in change with business supporting and common improvements. The conception of corporate social responsibility means that every organization have their own responsibilities as well as ethical and moral responsibilities in another sources of earning
In the contemporary corporate world Corporate Social Responsibility has gained immense importance most organizations recognize it as an important tool in order to improve their goodwill and brand loyalty. Proctor & Gamble is one of the largest conglomerates in the world and enjoys presence across the globe. This paper aims at carrying out a critical analysis of the social activities that Proctor & Gamble is carrying out under the banner of its campaign, Live, Learn and Thrive.
Before five years, I came across a situation which led me to think about the importance and need of social responsibility by business enterprises. To start off giving a brief background, my brother was a fresh graduate from the school of architecture where he got his first individual contract in India. He had to design a mall that was planned to kick start after few years. The land where it was being constructed belonged to an old age home. It was a well-known home for old people to spend rest of their lives. Being his first project, my brother was really enthusiastic and gave in all his hard work. Later, he got to know about the old age home that was present there. He and his team were in a quandary situation of whether or not to appeal to their company’s executive board to discuss this issue. On one hand, they were pressurized by the board to complete the project in time, as millions of equities were at stake. Whereas, on the other hand, they were feeling a sense of immoral behavior on their part. His team came up with a proposal that was designed to support both, the mall and the old age home by retaining a part of this property with the latter. The proposal was rejected, and my brother and his team withdrew from that project. This experience was narrated to me by my brother, which drew me towards the need of business houses to be sensitive towards the society. Therefore, to further investigate this topic,
Before five years, I came across a situation which led me to think about the importance and need of social responsibility by business enterprises. To start off giving a brief background, my brother was a fresh graduate from the school of architecture where he got his first individual contract in India. He had to design a mall that was planned to kick start after a few years. The land where it was being constructed belonged to an old age home. It was a well-known home for old people to spend their remaining years. Being his first project, my brother was really enthusiastic and gave all his hard work. Later, he got to know about the old age home that was present there. He and his team were in a quandary situation of whether or not to appeal to their company’s executive board to discuss this issue. On one hand, they were pressurized by the board to complete the project on time, as millions of equities were at stake. Whereas, on the other hand, they were feeling a sense of immoral behavior on their part. His team came up with a proposal that was designed to support both, the mall and the old age home by retaining a part of this property with the latter. The proposal was rejected, and my brother and his team withdrew from that project. This experience was narrated to me by my brother, which drew me towards the need of the business houses to be sensitive towards the society. Therefore,