4) As based on the example in
the case study, in your opinion should the government have the right to force a
legal business to take an action that might damage its relationship with its
customers? What does this say about the action of the government? Do you
support this and do you think that citizens will support this action?
Each of these businesses has a corporate
responsibility to the public, its shareholders and the world it trades in.
In its most basic terms, corporate
responsibility can come down to the ethics of a business. Each company has its
own set of core values, but the company’s values also touch everyone that the
business deals with. Years ago, a company’s corporate responsibility was
dictated by its government. There were set laws that had to be adhered to
regarding financial and social responsibility. Today, however, corporate
responsibility has to take into account the world that we live in on a much
wider scale.
The public has become much more globally
aware, and there are a number of groups that monitor corporations closely.
These groups have the conditions of the world in mind.
Corporations are now
held accountable not just by the government, but also by the public. Corporate
responsibility must now take into account how dealings with customers,
shareholders and employees are seen by the world. Large global corporations
know that people are watching them and that any wrongdoing will not go
unnoticed.
Many corporations have
been forced into taking corporate responsibility. They know that it does not
make good business sense to be seen as a company that is damaging the world
that we live in. Huge penalties and fines also await corporations that break
ethical and environmental laws.
Corporate responsibility
has a huge impact not only on the local community, but also on the world. Its
affects are social, economic and environmental. Bad and good corporate
responsibility has effects that reach from the worker in the third world
country to the air that we breathe.
Reference:
Conjecture Corporation (2012)
Available at: http://www.wisegeek.com/what-is-corporate-responsibility.htm
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