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Corporate Social Responsibility (CSR) Assignment | Responsible Enterprise

   

Added on  2020-05-28

14 Pages3429 Words99 Views
Running head: RESPONSIBLE ENTERPRISERESPONSIBLE ENTERPRISEName of the Student Name of the UniversityAuthor’s Note
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1RESPONSIBLE ENTERPRISETable of ContentsIntroduction......................................................................................................................................2Responsible Business.......................................................................................................................2Ethical business...............................................................................................................................4Role of government as influencer or barrier to responsible business approaches...........................8Conclusion.....................................................................................................................................10References......................................................................................................................................11
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2RESPONSIBLE ENTERPRISEIntroduction The objective of this study is to analyze what constitutes responsible enterprise anddiscussing about the varied interpretations of this conception. This report also highlights on thecontrast between responsible enterprises with other related concepts that is corporate socialresponsibility (CSR), sustainable business, social enterprise and corporate responsibility (Charter2017). The report also evaluates the nature of ethical business and its direct or indirect impact onthe behavior of the business. The report also discusses about whether ethical business createscustomer value and higher profit margins. The role of government as influencer or barrier to theresponsible business approaches as well as in relation to ethical business is also explained in thisreport. Responsible Business The view about the responsible business has several conflicting opinions. The genericview defines that the enterprise is only responsible to their shareholders, which implies that theorganization is not obligated to do anything other than providing product and services that thesociety wants. Responsible enterprise is mainly termed as the organizations that operate theircorporate responsibilities in their strategy’s as well as business practices by operating tomaximize business environment sustainability and develop relationships with their stakeholders(Cheng, Ioannou and Serafeim 2014). The company’s focus should not reside solely in singlearea and hence responsibility must be applied into its core values fir enabling maximumperformance. Some recent study reflects the organizations might find it difficult to achievesuccess if their core values are not allied to the values of society where it operates. The varied
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3RESPONSIBLE ENTERPRISEinterpretations encompass different concepts that include CSR, corporate responsibility,sustainability and social enterprise. CSR refers to the concept that several companies undertakes in order to fulfill theirstakeholder’s desires for maintaining core values of the business. The viewpoint of Aguinis andGlavas (2016) highlights that, the organizations have the responsibility for acknowledging theircompulsion to their indirect stakeholders. Additionally, Carroll’s framework of CSR argues thatCSR must encompass four different levels that includes legal, discretionary, economic andethical. In essence, this model mainly brings together variety of interpretations, believing that theorganizations must be conducted with these four elements (Torugsa, O’Donohue and Hecker2013). Therefore, the company having CSR portfolio benefits financially and hence attainsimproved view from the customers. Social enterprise refers to the organization that advances social mission through theirearned income strategies. This mainly highlights the market based effort for receiving earnedincome in exchange for good or service (Edgeman and Eskildsen 2014). On the other hand,responsible business refers to the entity that seeks for leveraging business to the sustainableworld. The contrast between responsible business and social enterprise is that social enterpriseare stated by its revenue source while responsible business are stated by intention as well asgoals of higher profitability (Ridley-Duff and Bull 2015). Another concept that is associated with responsible business is the sustainable business.Sustainable business relates to the green business that has less negative effect on localenvironment, society and community. The sustainable business usually has human right as wellas progressive environmental policies. In contrast to this, responsible business usually refers to
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