This document is an analysis of a reflective journal that discusses corporate social responsibility and the relationship between profitable and ethical business. It includes an introduction, reflective analysis, and conclusions for both topics.
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Running head: ANALYSIS OF REFLECTIVE JOURNAL ANALYSIS OF REFLECTIVE JOURNAL Name of the Student Name of the University Author Note
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1ANALYSIS OF REFLECTIVE JOURNAL Table of Contents Task 1 – Assessment related to arguments based on both the views of Corporate Social Responsibility....................................................................................2 Introduction.....................................................................................................2 Reflective analysis.........................................................................................2 Conclusion......................................................................................................3 Task 2 – Relationship of the profitable business and ethical business.............4 Introduction.....................................................................................................4 Reflective analysis.........................................................................................4 Conclusion......................................................................................................5 References.........................................................................................................7
2ANALYSIS OF REFLECTIVE JOURNAL Task1–Assessmentrelatedtoargumentsbasedonboththeviewsof Corporate Social Responsibility Introduction Corporate social responsibility is an important factor that can help in the proper maintenance of sustainable processes of various companies. The levels of sustainabilityandthelongtermoperationsarerelatedtothecorporatesocial responsibilitybasedresponsibilityactivitieswhichareundertakenbythe organizations. The views related to corporate social responsibility thereby include, narrow view and broad view. The journal will be built on the reflective analysis related to two major views that can affect the organizational operations (Ni & Van Wart, 2015). Reflective analysis I have been able to understand the narrow view related to corporate social responsibility that has been discussed by Friedman. The major purpose based on effectiveexistenceofthebusinessisrelatedtomethodswhichareusedfor distributing economic value to the society. I have also understood that managers can maximise the levels of value which are offered to the shareholders. The theory is thereby based on the effective understanding of the ways by which profitability levels can be increased in the modern organizations. The theory has stated that the most important objective of an organization is to earn profit and increase the levels of revenuesaswell(Cheng,Ioannou&Serafeim,2014).Thecorporatesocial responsibility based activities are thereby considered to be secondary in nature. The different companies that have given importance to the profitability levels instead of corporate social responsibility mainly include, Ford Motor, Microsoft, Walmart and Nestle. The learning has also been provided to me based on the socio-economic view based on corporate social responsibility that mainly states that modern companies are an important part of the larger society. The organizations need to be fulfil their responsibilities towards the society and the community in the area where they operate.Thecompaniestherebytrytomaintaintheirpositionbyfulfillingthe responsibilities in an effective way. The sustainability of the operations of different organizations are related to the methods that are implemented in order to operate
3ANALYSIS OF REFLECTIVE JOURNAL profitably within the industry. The recent trends which are present in the industry are also analysed by me with the aim to understand the narrow view and broad view based on the organizational operations (Tai & Chuang, 2014). The activities that are related to the effective operations of the organizations that have implemented the narrow view of CSR, are hugely effected by the changes that take place in the externa, environment. The importance which is provided to social responsibilities by modern companies is based on the changes that have taken place in the external environment. The changes have further been able to reducetheimplementationanduse of narrowviewbasedoncorporatesocial responsibility in the organizations The diverse activities based on corporate social responsibilityhaveincreasedandorganizationshavealsobecomehighly responsible in nature. This has provided effective importance to the socio-economic view or broad view of CSR (Saeidi et al., 2015). The improvement of the activities performed with respect to the fulfilment of corporate social responsibility has been a major part of the sustainability of the organizations. The various levels of the analysis that are based on two views of CSR areconsideredtobeimportantbytheorganizationsforfulfilmentifsocial responsibilities effectively within the country in which they operate. The modern companiesthataresuccessfulintheactivitiesbasedoncorporatesocial responsibility mainly include, Google and Unilever (Korschun, Bhattacharya & Swain, 2014). The two organizations have been operating profitably in their respective industries. The organizations have not only provided importance to the profitability levels and revenues. A major level of importance is also provided to the social responsibilities which they have towards the community. The organizations have provided importance to the reputation which is developed within the industry. The society has been affected in a huge manner by the operations and activities that have been performed by the organization in an effective manner (McWilliams, 2015). Conclusion The learning which has been gained by me from the analysis of two major views of corporate social responsibility is based on thesignificance which is being provided to the broad view or socio-economic view. The organizations have started improving their operations in order to increase the levels of responsibility which they
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4ANALYSIS OF REFLECTIVE JOURNAL have towards the society or community of which they are a part. This has been able to increase the levels of activities which are performed by the modern organizations in order to fulfil social responsibilities. Task 2 – Relationship of the profitable business and ethical business Introduction Theactivitiesrelatedtobusinessoperationintheorganizationscanbe effective if they are able to provide high levels of profitability with help of some ethics. The ethics related to business are important for the purpose of ensuring that the operations of the organizations do not have any negative effect on the external environment.Theethicalconsiderationsaretakenintoviewbythemodern organizations for the purpose of operating in the industry in an effective manner. The ethics of business operations are important for profitable operations. The importance which has been provided by the modern organizations to ethics is much more as compared to the previous organizations. The analysis that will be made in the reflective journal will be based on the levels of importance of ethics in the business based environment (Crane & Matten, 2016). Reflective analysis Theconceptsthatarerelatedtotheeffectiveoperationsofprofitable organizations andethical business operations aresometimes consideredto be highly important. The most significant part of concepts based on operations of modern organizations is related to the methods that are implemented in order to gain profits (Weiss, 2014). The profits which are thereby gained by the organizations are based on different levels of ethical concerns as well. The changes which have thereby taken place in the modern business based environment are considered by themodernbusinessorganizationsinordertooperateintheindustry.The organizations that operate in the environment in an ethical manner are able to make profitsinaneffectivemanner(Schaltegger&Burritt,2018).Thesocial responsibilities are thereby fulfilled by the organizations in order to maintain the ethical operations. The lack of profits in the organizations operations is also considered to be highly unethical in nature. The ethical operations of organizations are also based on the ways by which they are able to pay back to the creditors and further improve the
5ANALYSIS OF REFLECTIVE JOURNAL levels of profitability as well. The responsibilities which organizations have towards the shareholders are also considered to be highly important for the fulfilment of businessethicsinaneffectiveway.Theorganizationsalsoneedtofulfilthe expectations which the customers have from them. This plays a major role in the waysbywhichorganizationsareabletofulfiltheethicalresponsibilities.The effectiveness of the operations of business organizations is also based on the levels of profitability which are gained (Trevino & Nelson, 2016). The fulfilment of responsibilities is considered to be an important part of profitable operations of the modern organizations. The organizations in this case aim at fulfilling the commitments which are made towards the stakeholders and the customers. The organizations that are operate in a particular country are able to affect the economy in a huge manner. The contribution which is provided by the organizations in this case is considered to be important for the improvement of the economy of a country. The business organizations are also termed as the corporate citizensofacountrywhohavesomemajorlevelsofresponsibilities.The organizationsneedtooperateinsuchamannerwhichisabletoaffectthe communities in a positive manner (Hicks & Waddock, 2016). I have gained knowledge based on the ways ethics are able to affect the operationsoforganizationsinthemodernbusinessbasedenvironment.The profitability and ethical operations of the business are considered to be linked with eachother.Thebusinessneedstofollowtheethicsinordertomaintainits operationsintheenvironmentinalongtermandsustainablemanner.The responsibilities thereby need to be fulfilled effectively by the business organizations so that they are able to operate profitably in the industry. The ethical considerations arehighlyimportantforthebusinessinordertofulfiltheresponsibilitiesand commitments which it has towards the customers and the stakeholders (Schaltegger & Wagner, 2017). Conclusion The analysis of ethical and profitable business has helped me to understand that the modern organizations can aim at increasing the profitability levels with the properassistancethatisprovidedbytheethics.Theethicalconsiderationof businessoperationsisimportantforeffectiveorganizationaloperationsinthe
6ANALYSIS OF REFLECTIVE JOURNAL industry. The organizations are able to operate in the environment effectively with the proper implementation of ethics in different levels of operations. I have been able to concluded that ethical business and profitable business operations are linked with each other and are also important for the operations.
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7ANALYSIS OF REFLECTIVE JOURNAL References Cheng, B., Ioannou, I., & Serafeim, G. (2014). Corporate social responsibility and access to finance.Strategic management journal,35(1), 1-23. Crane, A., & Matten, D. (2016).Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press. Hicks, D., & Waddock, S. (2016). Dignity, Wisdom, and Tomorrow's Ethical Business Leader.Business and Society Review,121(3), 447-462. Korschun,D.,Bhattacharya,C.B.,&Swain,S.D.(2014).Corporatesocial responsibility,customerorientation,andthejobperformanceoffrontline employees.Journal of Marketing,78(3), 20-37. McWilliams,A.(2015).Corporatesocialresponsibility.Wileyencyclopediaof management, 1-4. Ni, A., & Van Wart, M. (2015). Corporate Social Responsibility: Doing Well and DoingGood.InBuildingBusiness-GovernmentRelations(pp.175-196). Routledge. Saeidi, S. P., Sofian, S., Saeidi, P., Saeidi, S. P., & Saaeidi, S. A. (2015). How does corporate social responsibility contribute to firm financial performance? The mediatingroleofcompetitiveadvantage,reputation,andcustomer satisfaction.Journal of business research,68(2), 341-350. Schaltegger, S., & Burritt, R. (2018). Business cases and corporate engagement with sustainability:Differentiatingethicalmotivations.JournalofBusiness Ethics,147(2), 241-259. Schaltegger,S.,&Wagner,M.(2017).Managingthebusinesscasefor sustainability:Theintegrationofsocial,environmentalandeconomic performance. Routledge. Tai, F. M., & Chuang, S. H. (2014). Corporate social responsibility.Ibusiness,6(03), 117.
8ANALYSIS OF REFLECTIVE JOURNAL Trevino, L. K., & Nelson, K. A. (2016).Managing business ethics: Straight talk about how to do it right. John Wiley & Sons. Weiss,J.W.(2014).Businessethics:Astakeholderandissuesmanagement approach. Berrett-Koehler Publishers.