The Impossibility And Importance Of CSR Case Study

The Impossibility And Importance Of CSR - Case Study Example CSR also happens when a corporation’s business operations (as in the company’s policies and actions) are integrated with social values, specifically the stakeholders’ interests.   Usually, it focuses on three things: the social, the financial and the environmental facets of the corporation’s interactions. It actually has a triple bottom line: people, planet, and profit. CSR involves two main concepts: transparency and accountability. To be accountable is not only to become accountable in terms of the corporation. It also means to be accountable in terms of to its personnel. They have to have the right wages, incentives and working conditions. Of course, they should also be accountable in terms of protecting the culture, environment and the economy of the community. Thus, the corporations of today are expected to perform well not only in financial and management areas but also in areas like business ethics, corporate contributions, community development, diversity, human rights and other workplace issues. With CSR, every company’s environmental and social performances are proportional with their financial performance.  CSR also happens when a corporation’s business operations (as in the company’s policies and actions) are integrated with social values, specifically the stakeholders’ interests.   Usually, it focuses on three things: the social, the financial and the environmental facets of the corporation’s interactions.’s interactions. It actually has a triple bottomline: people, planet and profit. CSR involves two main concepts: transparency and accountability. To be accountable is not only to become accountable in terms of the corporation. It also means to be accountable in terms of to its personnel. They have to have the right wages, incentives and working conditions. Of course, they should also be accountable in terms of protecting the culture, environment and the economy of the comm unity. Thus, the corporations of today are expected to perform well not only in financial and management areas but also on areas like business ethics, corporate contributions, community development, diversity, human rights and other workplace issues. With CSR, every company’s environmental and social performances are proportional with their financial performance. As mentioned earlier, transparency is important. Now, corporations are expected to communicate their thrusts, projects and policies that affect their employees, as well as the community and the environment. Current global companies that show transparency are proven to be more financially successful as these factors contribute immensely for a sustainable financial growth. Currently, the investors are now making significant efforts to curb their carbon footprints to enhance their positive impact to the community. These companies are more sensitive to the fact that their company can actually have an impact to the society, and that they are/can be actually socially accountable, as well as environmentally accountable. As an incentive, the stakeholders are rewarding the companies who are indeed making efforts to contribute to the society’s well-being. However, the biggest criticism comes from Milton Friedman, saying that CSR is a paradox and a complete irony, not to mention impossible. Milton Friedman is an American economist who was a recipient of the Nobel Memorial Prize for Economics for â€Å"his achievements in the field of consumption analysis, monetary history, and theory†. He thinks that corporations cannot have responsibilities as CSR entails that businesses have â€Å"social responsibilities†. As corporations are only artificial entities, logically, they also have artificial responsibilities but of course, even a business cannot have a responsibility. Sure, businesses are owned by responsible people, and corporations have business executives who have values. These business executives may take part in a social movement, perhaps join a medical mission to help those in need. They may have other responsibilities that they took on their own, like their family, their church or even their country. With these responsibilities that they have taken in, they also put in their own money (which they earned from working in the corporation). Because in these respects he is not working as an agent for the company, he is acting on his

Philosophy Psychological Egoism vs. Ethical Egoism Essay

Philosophy Psychological Egoism vs. Ethical Egoism - Essay Example Ethical egoism has a normative ethical theory which helps us to determine between the right and wrong of things or actions. In fact, it guides us as to how we are supposed to act in different situations. In contrast to Ethical Egoism, we have Psychological egoism that is based on the descriptive theory which means that it describes certain salient facts about human psychology. According to Ethical egoism, we help others with the notion that it works to the person’s own benefit and advantage and in the course of it, justify our actions. In Ethical egoism it is often debated that sometimes the help that is rendered does more harm than good, and since harming others is wrong, therefore we should not help others. Others have argued that we do not understand the needs of others and hence end up intruding upon their privacy and dignity which might be offensive to them and hence helping them is not necessary. According to the principles of egoism, condemning a certain action would oc cur if it did not work out in one’s own self interest and condemning any action on the basis of harming others would not be the case unless the action harmed one’s own self. According to the ethics of Altruism, the life of an individual is not given too much importance because according to altruistic principles, an individual should be ready to lay down his life (sacrifice) for the good of others. On the contrary, Ethical egoism permits an individual to view their life as having an ultimate value. In weighing the pros and cons between the two, ethical egoism is more acceptable. However, besides the two there is another option where we are in a position to balance our own interests with the interests of other individuals in our society. Egoism offers us a rationale when looking at it from a common sense moral perspective. On moral grounds not harming others, not lying and keeping to our