logo

Ethics and Corporate Social Responsibility : Assignment

   

Added on  2021-06-17

14 Pages3099 Words41 Views
Running head: ETHICS AND CORPORATE SOCIAL RESPONSIBILITYEthics and Corporate Social ResponsibilityUniversity NameStudent NameAuthors’ Note

2ETHICS AND CORPORATE SOCIAL RESPONSIBILITYExecutive SummaryThe current study illustrates in detail regarding CSR actions and governance framework ofthe business concern Wesfarmers Limited. This study applies specific analytical frameworknamely, Carroll’s Pyramid and Wartick and Cochrane’s Typology, for analysis and synthesisof CSR and governance framework of Wesfarmers. This study also aids in synthesis ofnotions and analyse behaviour of the management Wesfarmers of along with its insinuations.IntroductionThe current report elucidates in detail about CSR activities as well as governance structuresof the firm Wesfarmers Limited. The study intends to apply different analytical frameworkthat is to say, Carroll’s Pyramid and Wartick and Cochrane’s Typology, present synthesis ofnotions and analyse behaviour of the management along with its implications. In thissegment, the report also presents critical analysis of responses of the company WesfarmersLimited to expectations of key stakeholders and highlights any gap that subsists betweenadvocated as well as realised performance. Wesfarmers Limited is a leading Australiantransnational firm, headquartered in Western Australia, with operational interests mostly inretail segment, market for chemicals and fertilisers, mining of coal, diverse industrial alongwith safety products of particularly Australian as well as New Zealand. ObjectivesObjectives of the current study is - To analytically evaluate CSR activities as well as governance structures of the firmWesfarmers Limited -To comprehend responses of the company to different stakeholders’ expectations

3ETHICS AND CORPORATE SOCIAL RESPONSIBILITY- To identify the gap that exists between adopted as well as realised CSR performance of thefirm MethodologiesThe study at hand intends to utilize secondary data and utilize qualitative mechanisms foranalysing the data acquired from secondary sources such as official websites, reports, books,magazines as well as articles and journals (Micheli and Mari 2014). Information AnalysisCarroll’s Pyramid The four-phase definition of Corporate Social Responsibility (CSR) was initially announcedduring the year 1979. During the year 1991, Carroll deduced four-staged definition andpresented it in the structure of pyramid of CSR. In essence, the primary purpose of thispyramid was necessarily to single out specific definitional facets of CSR and to elucidate thebuilding block feature of necessarily four part structure. Junior et al. (2014) asserts that thepyramid was chosen as a geometric design as it is uncomplicated, intuitive, and developed tosurvive the test of time.

4ETHICS AND CORPORATE SOCIAL RESPONSIBILITYEthics pervades the pyramidAlthough the ethical accountability is presented in the pyramid as a detached kind of CSR, itcan be observed as a facet which intersects and saturates the whole pyramid. Junior et al.(2014) suggests that ethical considerations are subsistent in each and every of the otheraccountability classifications as well. Essentially, in the category of economic responsibility,for instances, the pyramid supposes a capitalistic community in which the pursuit for profitsis observed as a justifiable and just anticipation. Hahn and Kühnen (2013) mentions thatcapitalism, on the other hand, is essentially an economic system that believes of it as beingmorally appropriate that holders or else shareholders value a return on specific investments.However, under the category of Legal Responsibility, it hereby needs to be acknowledgedthat majority of the rules as well as regulations were generated founded on certain ethicalway of thinking that they were fitting (Junior et al. 2014). The majority of the regulationswere developed out of numerous ethical concerns, for example, apprehension for safety ofconsumers, safety of employees, the natural environment and many others. Therefore, once

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Corporate Social Responsibilities of BHP Billiton Company
|10
|2438
|458

Importance of Corporate Social Responsibility and Ethics: A Case Study of Wesfarmers
|14
|3058
|325

Corporate Responsibilities and Ethics
|10
|2568
|158