Corporate Social Responsibility and Ethics Writing Assignment

Corporate Social Responsibility
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Corporate Social Responsibility
‘Sympathy with persons remote from us, (is) much fainter than that with persons near us’ (Hume,1751).
The globalization of business operations among different organizations coupled with the rising concern for sustainable growth and development of businesses calls demands the integration of the concept of corporate social responsibility by such entities. Hence, business entities have an obligation of carrying out their daily operations in ways that may not result in adverse repercussions on the individuals with whom they interact for the smooth running of the firms. Among the key stakeholders of business organizations are the suppliers or the supply chain, which is responsible for the delivery of raw materials for the production of finished goods. It is also the supply chain that accounts for the delivery of the finished goods and services to the consumers. Globalization presents new challenges to the interaction between business organizations and the suppliers owing to the geographical barriers for entities importing raw materials from abroad CITATION Ghe11 \l 1033 (Ghemawat, 2011). It, therefore, becomes difficult for both the stakeholder and the organization to hold each other accountable for their actions, which may affect either of their daily operations.
Corporate social responsibility refers to the business or corporate organizations’ moral and responsible behavior towards their interactions with their stakeholders. Maintaining such standards in the interactions between the two parties is essential for both of their survival in their areas of specialization CITATION Dob90 \l 1033 (Dobson, 1990). The principles of the two concepts, corporate social responsibility, and stakeholder theory, intersect through the moral and ethical obligations embraced by both the business organization and the stakeholders CITATION Dob90 \l 1033 (Dobson, 1990). Corporate organizations have the responsibility of attending to the interests of the stakeholders such as suppliers to ensure timely payment for supplied products and compliance with the ethical code ...