Business Law & Ethics: Analyzing Corporate Social Responsibility (CSR)

This report provides an overview of corporate social responsibility (CSR) within the framework of business law and ethics. It defines CSR as the integration of environmental and social concerns into business operations, highlighting key areas such as eco-efficiency, environmental management, working conditions, and stakeholder engagement. The report discusses various CSR practices including philanthropy, environmental efforts, volunteering, and ethical practices. It also explores the concept of corporate behavior and its relationship with CSR, emphasizing the importance of ethical and social responsibilities. Further, the report references the Harvard Kennedy School M-RCBG programs and Joel Bakan's perspectives on corporate responsibility, concluding that business legislations and CSR practices are vital for companies to operate ethically and contribute to society and the environment. Desklib offers a wide range of solved assignments and study resources for students.

Business Law and
Ethics

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Concept of CSR...........................................................................................................................3
Key areas of CSR.........................................................................................................................3
Practices of CSR..........................................................................................................................4
Corporate behaviour....................................................................................................................4
Relation between CSR and Corporate behaviour........................................................................5
Harvard Kennedy School M-RCBG programs............................................................................5
Joel Bakan....................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business law and ethics are the essential regulatory frameworks which are enacted in order
to regulate the working of businesses. The business laws may be defined as body of regulations
and rules that offers any civil as well as corporate laws which ensures smooth working of
companies. It implicates corporate performance which emphasises on working process as it
mainly dictates running and formation of business. The company legislation can be in a form of
convention, agreement, national or international law that governs the dealings between people in
commercial matters. It mainly falls under two of the areas that are distinctive that involves firstly
regulations of commercial ventures by the laws of company, partnership, bankruptcy and
secondly, regulations of commercial transaction by way of contract legislation and the related
fields (Bibi and et. al., 2021). This report will cover concept of corporate social responsibility
and also draws commentary on the relation between corporate behaviour as well as corporate
responsibility in relation to corporate social responsibility.
MAIN BODY
Concept of CSR.
It is a practice which mainly helps the organization for integrating environmental as well as
social concern in each of the business operations and practices as it provides the adequate
interaction with stakeholders. It is also known as one of the way whereby the company may gain
some advancement and also achieve a balance in its economic, social, environmental and
imperative areas as well as nature. It is generally implemented in order to maintain proper
addressing in relation to shareholders and stakeholders as it brings out the difference between the
CSR that can be implemented in each of the strategic management of corporation, charity and
other concepts which relates to sponsorship and philanthropy (García‐Sánchez and Araújo‐
Bernardo, 2020). The corporate social responsibility contributes in such practices which
increases the goodwill of business by maintaining the strength of company by way of making the
entities focuses on the moral as well as ethical objectives.
Key areas of CSR.
There are various areas relating to corporate social responsibility that involves eco-
efficiency, management of environment, working conditions, stakeholder’s engagement, some
responsible areas in sourcing, maintenance of the community as well as the employee relations,

human rights, standard of labourers, gender, social equity and many others. All these helps in
maintenance of the proper implementation as well as competitive advancement by which proper
market is increased in sales and capital and growth of the corporation is also increased by
enhancing profitability. These practices also help in maintaining proper productivity in
operational areas and also maintenance of quality with an aim to achieve the customer loyalty by
implementation of the decision programs and proper process of the risk management in the
workplace.
Practices of CSR.
The companies are led by different practices of CSR which are as follows-
 Philanthropy: It is one of the practice in companies in which the organizations are
involved in the donation of the money, services, goods for social cost and also for not for
profit organization so that the proper resources are offered and local community is also
benefited out of it. These kinds of efforts are mainly made by large organizations so that
a difference is made and the enterprise is able to maintain their goodwill and brand image
and also helps the companies for doing something for the betterment of society.
 Environmental efforts: This practice involves that the corporate social responsibility
mainly focuses on the environmental areas as it mainly tries to protect the environment
by taking some of the essential efforts and the areas so that the sustainable advantage is
gained in business and pollution is lowered down (Huang, Sim and Zhao, 2020).
 Volunteering: It mainly involves the participation in the local calls so that the good deeds
are being done and some of the practices are completed that can provide the betterment
and growth to society by mainly focusing on social cause and issue.
 Ethical practices: It emphasises on a fact that the organizations should maintain a proper
code of conduct in business practices by way of which all employees of company are
treated in the equitable, fair and ethical manner.
Corporate behaviour
It is an important concept that has its application in each of the business practice and
enterprise so that the strong relationship is being maintained between the company and its
stakeholders. It is mainly liked to every ethical practice and CSR and it is used generally to cover
ethical code of conduct, legal rules and many other essential principles relating to social
responsibility as it is mainly based on the important legislations, CSR as well as ethical concepts.

It maintains and recognises important ethical perspective that is being required by the companies
as it involves maintenance of the shareholders and stakeholders and analyses important key areas
of the economy as well. Both the corporate behaviour and CSR are the ethical and social
responsibilities of company which must be present in every practice as it mainly helps in
management of sustainable changes in company with some adequate planning implementation
(Orazalin, 2020).
Relation between CSR and Corporate behaviour.
Both of these concepts are inter connected as the concept of CSR is mainly used in order to
provide social responsibility which generally encompasses in the business activities with each of
the legal, economic and ethical practices while the other is corporate behaviour that is mainly
used in order to deal with issues which relates to legal and ethical issues. It is meant as that CSR
is a society and an expectation of every corporate behaviour and CSR also helps in the
maintenance of the proper alleged relation of stakeholders with the adequate growth and morality
in the business. The corporate behaviour focuses mainly on the stakeholders in order to maintain
the practices in proper manner by using CSR. Hence, both these concepts are mainly used in
maintaining the legal. Ethical and social practices in society (Tsalikis and Seaton, 2020).
Therefore, it can be said that corporate behaviour and ethical practices in business implicates
that the stakeholders of a company help in contributing in economy by implementation of the
economic resources and related decisions. The corporate behaviour and CSR helps in
maintenance of the economy and also focuses on improving and growing the country by way of
ethical practices.
Harvard Kennedy School M-RCBG programs
According to this, there are many initiatives of corporate responsibilities that may enhance
the public roles and also places its focus on the corporate accountability as well as governance in
the business practices. It generally offers the public policies which company as well government
is required to follow so that the fundamental issues can be implemented so that the key elements
of the company are maintained. The focus of CSR is on many types of educational policy
programmes, growth policy and the financial sector policies whereby the country can be
developed and it is being analysed and maintained. These are made all with the sustainable
advancement as well as developments by way of which many technological innovations and
techniques with regulations can be maintained. Moreover, the focus of this is also on the CSR

maintenance in each of the corporations and the generations of many of the programs by way of
which society is made up a better place to live. The main of this is to make analysis of the
important areas of the societal concerns also eliminates the challenges in private and public
sectors. The focus of this is to make work rain for the global region and it also maintains the
intellectual source in the business entities (Wang, Lo and Lam, 2020).
Joel Bakan.
Some of the important questions are raised by it in relation to the enduring areas of viability
with the help of which the primary areas of the company is maintained and the different levels of
the production is also organized in respect of the corporate structure by way of which public
goods may be maintained and the effective production area is also organized and maintained.
The documentary provided by Joel Bakan of University of the British Columbia interprets many
of the areas of development for business and the legal entity that is required for the common
chartered institution so that the public functions are also maintained. There are different topics
which are covered in documentary which includes regarding corporate social responsibility and
maintenance of ethical as well as moral aspects of the work which is based on the behaviour (Xu,
Fan and Luan, 2020).

CONCLUSION
It is concluded from this report that business legislations play a vital role in commercial law
as it offers a pathway whereby the companies can operate and no hardship is faced by it. The
corporate social responsibility is one of the concept that is followed by the businesses so that the
responsibilities of it is fulfilled towards society as well as the environment. There is an inter-
connection between the corporate behaviour and CSR as both relates to the issues in context of
the social responsibilities and legal and economic practices. One of the Professor, namely Joel
Bakal has proposed and also provided development of business corporations by implementing
CSR. Further, it is concluded that there are different initiatives which can be taken by
organizations so that they can fulfil their CSR obligations by varied programs like educational,
finance and growth.

REFERENCES
Books and Journals
Bibi, S. and et. al., 2021. Do hotel employees really care for corporate social responsibility
(CSR): A happiness approach to employee innovativeness. Current Issues in Tourism,
pp.1-18.
García‐Sánchez, I.M. and Araújo‐Bernardo, C.A., 2020. What colour is the corporate social
responsibility report? Structural visual rhetoric, impression management strategies, and
stakeholder engagement. Corporate Social Responsibility and Environmental
Management. 27(2). pp.1117-1142.
Huang, K., Sim, N. and Zhao, H., 2020. Corporate social responsibility, corporate financial
performance and the confounding effects of economic fluctuations: A meta-
analysis. International Review of Financial Analysis. 70. p.101504.
Orazalin, N., 2020. Do board sustainability committees contribute to corporate environmental
and social performance? The mediating role of corporate social responsibility
strategy. Business Strategy and the Environment. 29(1). pp.140-153.
Tsalikis, J. and Seaton, B., 2020. Corporate Social Responsibility: A Cross-National Study of the
Treatment of Consumers and Employees.
Wang, F., Lo, J. and Lam, M., 2020. Mediating Effects of Stakeholders and Supervision on
Corporate Social Responsibility.
Xu, L., Fan, X. and Luan, W., 2020. Strategic corporate social responsibility of high-speed rail in
China. China Economic Review. 62. p.101499.