Business Law Assignment Corporate Social Responsibility
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Added on 2020-04-21
Business Law Assignment Corporate Social Responsibility
Added on 2020-04-21
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Running head: BUSINESS LAWCorporate Social ResponsibilityName of the student:Name of the university:Author note
1BUSINESS LAWTable of ContentsCorporate Social Responsibility.................................................................................................2The Limited Liability Company.............................................................................................2Differences between corporations and other business partnerships:......................................2Kinds of corporations:............................................................................................................2Evolution of the corporation:..................................................................................................3Corporate Moral Agency............................................................................................................3Corporations as legal persons:................................................................................................3Nature of corporation:............................................................................................................3Decision-making power of corporation:.................................................................................4Edward Freeman’s Stakeholder Theory.....................................................................................4Arguments against CSR.............................................................................................................61) The Invisible-Hand Argument:..........................................................................................62) The Let-Government-Do-It Argument:..............................................................................73) The Inept-Custodian Argument:........................................................................................74) The Materialization of Society Argument:........................................................................8Reference:...............................................................................................................................9
2BUSINESS LAWCorporate Social ResponsibilityCorporate Social Responsibility means the moral, legal, ethical and economic expectations ofsociety from the organizations. The concept states that the organizations hold ethical andmoral responsibilities in addition to their other responsibility of earning profit andcomplyance with the law (Suliman, Al-Khatib and Thomas 2016). CSR also relate to the impacts on the environments and societies of work done byorganization and business beyond the lawful obligation. The works include the effort takenfor the protection of the environments, effort taken by the organizations towards theirsuppliers, employee, customer and community of their operations. The Limited Liability CompanyA corporation is a thing that can endure beyond the natural lives of its members and that hasincorporators who may sue and be sued as a unit and who are able to consign part of theirproperty to the corporation for ventures of limited liability.The concept of limited liability: Members of a corporation are financially responsible for thedebts of the organization only up to the extent of their investments.Differences between corporations and other business partnerships:There are certain differences present in between the two that can be categorised as follows:a) Corporations that require public registrations or acknowledgment by authority or law.b) The shareholders are entitled to dividends from the profit of the company only when it is“declared” by the director of the corporation.
3BUSINESS LAWTypes of corporations: For profit, non-profit; owned in private or owned entirely or few parts by the governments;that has been held, publicly or privately. Princeton University, for example, is a non-profitcorporation. Companies like Eastman Kodak, by contrast, aim to make money forshareholders (Carroll 2015).Evolution of the corporation: The contemporary business corporation has developed over numerous centuries. Thecorporate forms evolved at the time of the Middle Age. The initial corporation were the town,university, and the religious order, chartered by the governments and managed by the statuteof the public.Corporate Moral AgencyCorporations as legal persons: The corporation is considered to be a legal person, in the eyes of the law. This implies thatprotections as well as rights are enjoyed by them, which any of the normal individual does.This includes the right of freedom of speech, due processes, against the unreasonable searchand seizure, trials of the jury, and independence from the double jeopardy (Pedersen 2015).Nature of corporation: The corporations are known to be a legal or artificial persons. The existence of thecorporation within the lawful system put up the question of the position of the corporation asmoral agents. According to the law, companies as artificial legal person, company have moralobligations just as individual. There are several rules regarding the corporate personality ofthe corporation. It has been observed in Saloman v Saloman [1897] AC 22 that the company
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