Globalization and Corporate Social Responsibility - 780 Words

Globalization and Corporate Social Responsibility Events in resent history have made a clear statement to the executives of the world that Globalization and Corporate Social Responsibility (CSR) are tightly linked in projecting a positive brand image. Most of the negative publicity surrounding the globalization debate is directed at one key area, the perceived lack of corporate social responsibility in the business culture of the developed world. The European Commission defines Corporate Social Responsibility as, â€Å"a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.(European) As the heat is turned up on firms,†¦show more content†¦The overwhelming facts point to a shady underworld of self-dealing and opportunistic exploitation of the poor and working class, which was until recently, well hidden from the commoner. The executives of WorldCom and Enron provide real world examples of unethical busines s practices, where the desire to make money for their shareholders transcended into an addiction to greed and self-dealing that were displayed by their, â€Å"excessive pay, perks, and golden parachutes†(Carson 392) at the expense of all stakeholders. All is not lost, there are corporations that pride themselves in their sound business model and commitment to ethical business practices. Such companies as Eaton Corporation, and Weyerhaeuser, who according to Ethisphere.com, a business ethics watchdog, are among the â€Å"2010 World`s most ethical companies.† (Ethisphere) Substandard working conditions in the less developed world are usually described as terrible places where employees are subjected to both mental and physical abuse, near impossible quotas, long hours, extremely low wages, and unsafe working conditions compared to western standards. All of this within an uninhabitable environment that corporations knowingly force the world’s impoverished people to submit to. Through pure ignorance, complete disregard, or lack of moral direction, many corporations have taken the concept ofShow MoreRelatedEssay on Corporate Social Responsibility Globalization2135 Words   |  9 PagesCORPORATE SOCIAL RESPONSIBILITY AND GLOBALISATION INTRODUCTION Corporate social responsibility (CSR) can be defined as the opportunities that the public has of organizations at a specified point (Carroll and Buchholtz 2003, p. 36). The view of corporate social responsibility says that organizations have principled and generous responsibilities in order to earn good return for investors by obeying the law appropriately. 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