Q3. (a) The conversation about the need for business organizations to undertake corporate social responsibility activities...

Q3. (a) The conversation about the need for business organizations to undertake corporate social responsibility activities continue to dominate board meetings and classrooms. Outline in a case of any company in Ghana, four (4) benefits of social responsibility activities to the case company.

(b)While contemporary business has adapted to an increasingly globalized environment, the democratic structures and regulatory frameworks through which to contain business activity have not. As a consequence, governments and civil society have virtually no power to enforce ethical and responsible values upon businesses. Discuss.

Solutions

Expert Solution

4 benefits of corporate social responsibility.

1) Increase employee satisfaction:

The way a company treats its community says a lot about how a company treats its employees. providing employee an opportunity to volunteer especially during work hours creates a sense of community within ypu organization as well as a connection to the surrounding community.the more engaged and invested they are in your organisation and the greater community the more productivity they will be. In fact , companies with highly engaged employees saw better business profitability.

2) IMPROVED PUBLIC IMAGE:

In this digital era, companies are gaining exposure and praise by demonstrating CSR. Spread the word about your community involvement to publicize your CSR initiatives. Increase your brand public image by tweet, post, share your social programs.

3)INCREASE CUSTOMER LOYALITY:

Customers are more likely to be loyal toyoure brand if your corporate values align with their personal ones. Prefer to do businesses with corporations and brands with pro-social messages and sustainable manufacturing methods and ethical business standards.

4)INCREASED CREATIVITY:

CSR initiatives encourage your employees to try new things and get re-energized about their jobs through this social involvement, employees will feel empower and come up with new ideas about products or internal processes or innovative- new problem - solving solutions.

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

a The conversation about the need for business organizations to undertake corporate social responsibility activities continue...

a The conversation about the need for business organizations to undertake corporate social responsibility activities continue to dominate board meetings and classrooms. Outline in a case of any company in Ghana, four (4) benefits of social responsibility activities to the case company.

Business Ethics, Corporate Social Responsibility and Sustainability Business ethics, corporate social responsibility and sustainability are hot...

Business Ethics, Corporate Social Responsibility and Sustainability Business ethics, corporate social responsibility and sustainability are hot topics in engineering management. Having a grasp of these issues is vital for future leaders of engineering industries in the 21st Century. After conducting a comprehensive review of literature in the context of an engineering sector of your choice, find out what ethics, corporate social responsibility and sustainability (or a subset of these topics) means and what approaches is currently use to lead the...

Corporate Social Responsibility (CSR): Why would an MNC (or any corporation for that matter) undertake corporate...

Corporate Social Responsibility (CSR): Why would an MNC (or any corporation for that matter) undertake corporate social responsibility measures? Discuss at least three reasons. What are the sources of CSR standards and codes that most MNCs follow as their benchmarks? Why do some countries (like India and Malaysia) top the list of countries in terms of the number of companies reporting CSR activities?

corporate social responsibility

Organizations that emphasize social responsibility and adhere to a set or corporate ethics will likely gain...

Organizations that emphasize social responsibility and adhere to a set or corporate ethics will likely gain competitive advantages in the market place and avoid costly litigation and loss of reputation. Due to high levels of corporate fraud in the 1990s with companies such as Enron and Global Crossing, Congress passed the Sarbanes Oxley Act of 2002 that set new increased standards for the boards of public U.S. companies and accounting firms. Read the different sections and provisions of the Sarbanes...

Briefly state and explain the case for a corporate social responsibility of a business.

Select Organizations that promote Corporate social responsibility (CSR) and answer these: •What are the CSR initiatives...

Select Organizations that promote Corporate social responsibility (CSR) and answer these: •What are the CSR initiatives the organizations are taking? •What CSR strategies are they using? •The four dimensions of CSR, how do the CSR strategies connect with them? •What are the benefits? •What are the likely disadvantages or risks to these CSR initiatives •Are the organizations considering other CSR initiatives?

Question