Business Studies: Ethics and CSR in Sainsbury's

Ethics and CSR

Contents
Introduction................................................................................................................................3
Main Body..................................................................................................................................3
Task 1.........................................................................................................................................3
Essay topic: Explain the difference between Freeman and Friedman theories and if you
believe it is ethically correct just to focus on profits if you abide by the laws......................3
Task 2.........................................................................................................................................5
Description of company and its CSR programme..................................................................5
Sainsbury’s CSR record as evaluated by the market.............................................................5
Sainsbury’s CSR project and their implications....................................................................6
Personal evaluation over Sainsbury’s CSR efforts................................................................6
Conclusion..................................................................................................................................7
References..................................................................................................................................8

Introduction
In order to handle numerous operations of a firm, business management is regarded a
significant role of a corporation. Management is critical to the smooth operation of a firm.
The two key duties that management of a corporation does are allocating financing and
growing the organization's profitability (Rendtorff, 2022). This project entails a variety of
business duties in order to get a significant competitive edge in the marketplace. In order to
enhance numerous aspects, the project contains an essay on a company's social responsibility.
In order to assist the broader public, the initiative also offers a full explanation of corporate
social responsibility (Lereculey-Péran, Lombarts and Brannon, 2022).
Main Body
Task 1
Essay topic: Explain the difference between Freeman and Friedman theories and if you
believe it is ethically correct just to focus on profits if you abide by the laws
The debate between Freeman and Friedman with regards to CSR under business
ethics has been going on for a long time. R. Edward Freeman and Milton Friedman explored
and highlighted almost several possible views on what a firm's obligations should be in their
conceptions of how a business should run. Freeman supports the Stakeholder Theory,
believing that anybody or any group with a "stake" in the firm should be involved in the
company's activities and choices. Milton Friedman stands in the opposite corner of the ring,
believing that a firm is only responsible for those who really own shares in it the owners, or
shareholders. Through the debate Freeman considered wide range of individual under
stakeholders of the business. With its inclusion wide range of individuals were being taken
into consideration that were relative to the business working and associated business
environment. However, on the other hand Friedman took emphasis of consideration on
dedicating attention towards involvement of shareholders only when following CSR approach
of the business firm. It was being said that individuals those with high interest in working of
the firm should be considered worthy to invest efforts and relative resources for the business
firm. The CSR approach of the firm should only consider shareholders while developing
strategic CSR plans and distributing profit margins to those individual groups only.
According to Edward Freeman, a firm's stakeholders are the individuals who are most
affected by the company and its operations. This increases the company's engagement and