Corporate Social Responsibility Discussion: Business Ethics, Values

This discussion post explores the critical role of Corporate Social Responsibility (CSR) in modern business. It emphasizes the importance of ethical business practices and the development of strong stakeholder relationships, including customers, suppliers, employees, and investors. The assignment highlights the need for businesses to prioritize value creation over short-term profits and to integrate ethical considerations into their core strategies. It also addresses the significance of fostering an environment where employees can voice concerns about company practices. The discussion delves into the challenges faced by corporate leaders in implementing CSR and the need for innovative approaches to promote social and environmental responsibility. References from Haugh & Talwar (2016) and Hisrich & Ramadani (2017) support the arguments presented.

Corporate Social Responsibility

Discussion
It has been attained from the study that business prevailing in the modern era should
passionately develop a strong long term stakeholder’s relation and values in their organisation.
The ultimate purpose of businesses should be on generating values rather than achieving funds
goals and maximizing profit. It is the duty of corporate to address new ideas in innovating ways
to promote their relations with the outer environment and social surroundings. Business should
maintain a proper hold on their targeted and considerable ethics (Hisrich & Ramadani, 2017).
They should build up a connection with the society and community, by forming significance for
their customers, suppliers, workforces, communities and financiers (like shareholders, banks,
investors, etc).
Other than this, it is important for the corporate leaders to encourage individuals to speak
up against their management when they feel that their company is marking/ resulting up to its
values and purposes. By this, they can address their loop holes which can eventually make
appropriate changes to reroute the flow of business. It is crucial to the corporate sectors to aims
on path that leads businesses towards driven by a purpose, rather than seeking on short term
profits. For this, the business needs executives that focus themselves to a set potential strategic
set of values. Business purpose should link on integrating business with their ethics at the deep
level (Haugh & Talwar, 2016). However, it is a substantial confront for corporate leaders.
Businesses should need to build up a customs & level of innovations and strategy of value
creation processes made up on several interconnected tasks.
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REFERENCES
Haugh, H. M., & Talwar, A. (2016). Linking social entrepreneurship and social change: The
mediating role of empowerment. Journal of Business Ethics, 133(4), (pp. 643-658).
Hisrich, R. D., & Ramadani, V. (2017). Business Ethics, Social Responsibility and
Entrepreneurial Managers. In Effective entrepreneurial management (pp. 179-201).
Springer, Cham.
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