Question

• Explain current trends in business ethics and social responsibility.
• Explain how social media and marketing exposure have impacted existing digital ethics and social responsibility policies. Think of globalization as you prepare your response. Include examples from a company outside the United States.
• Discuss how you would incorporate business ethics and social responsibility into research that you conduct within your specialization.
• Recommend ethical standards as though you were running the organization.

Answer 1

Question 1 :

Answer :

Current trends in business ethics and social responsibility:

The most popular CSR trends in the area of corporate social responsibility include increased transparency, investment in green technologies, local community and employee engagement, and diversity and inclusion initiatives.

Increased Transparency :

Demands for disclosure for companies to reveal what's under the hood of their businesses have become commonplace among consumers. This CSR trend is partly in response to heightened regulatory oversight such as the European Union's noteworthy General Data Protection Regulation (GDPR). It is also partly a result of ever-increasing availability of almost instantaneous information, and consumer and shareholder demands of once behind-the-scenes information. As part of a business model that embraces corporate social responsibility, companies are sharing more environmental, social and governance disclosures.

Consumers are no longer satisfied with shady business dealings and hidden agendas but are demanding to know more about previously internal matters. For example, even workers at places like Google have openly protested the company's bid on a cloud computing contract with US Customs and Border Protection.3 Just as nonprofits are subject to rigorous impact reporting, financial transparency, and accountability, increased transparency is a CSR trend that will only grow in coming years.

Green Technology :

Gone are the days of rampant resource usage without any accountability or thought toward replenishment. Climate change continues to drive many conversations in the corporate world, and multiple trends in CSR intersect at this topic. As available natural resources are rapidly depleted and our world reaches a tipping point of a two-degree rise in average temperature, socially responsible companies are investing in green technologies, reducing their reliance on non-renewable resources, and looking to more sustainable inputs to do business.

Whether it's fashion companies looking into alternative fabrics such as eucalyptus or recycled water bottles, producing clean emissions through more rigorous machinery emissions tests, or simply getting certifications like LEED for their buildings, green technology will certainly be a growing trend for businesses looking to enhance their corporate social responsibility.

Global Companies Acting Locally :

Localization is in. Even companies that operate on a global level are recognizing the value of local markets and supply chains. This is not only to reduce carbon emissions that might be associated with transportation or supply chain costs (as creating "greener" businesses is also a rising CSR trend mentioned above), but to tap into local talent and solutions. Many companies that also have charitable arms are also prioritizing nonprofit partners that work with local leaders and local talent, rather than "shipping in" cookie-cutter solutions.

Also, corporate social responsibility initiatives actively attempt to engage in activities that benefit their local communities as well as produce profits for the corporation. Not only are there publicity benefits to be gleaned from getting involved in local communities, it can also boost employee satisfaction. Increasingly, corporations interested in CSR are donating to local nonprofits, funding the construction of things like schools in lower-income neighborhoods, and becoming engaged with civic issues that affect where they do business. Corporate-sanctioned volunteer events, especially during the holidays, is also an emerging CSR trend that allows employees to volunteer their efforts and make positive contributions with minimal time commitments.

Diversity and Inclusion :

As the issue of economic inequality rises to the forefront of many political debates, so does the issue increasingly press upon corporations. Recognition of inequalities in pay and economic burdens of employees is an emerging trend in corporate social responsibility. Pay equity between males and females, measuring the difference in income between the highest-paid and the lowest-paid worker at a company, and making sure that there is a diverse staff base have become key priorities of the best companies in the world. Corporate social responsibility initiatives such as intentionally recruiting candidates from difficult economic or educational backgrounds ultimately empowers local talent, brings diverse voices to the table, and is a trend that's here to stay.

Question 2:

Answer : Impact of social media and marketing exposure on existing digital ethics and social responsibility policies

There are many opportunities and challenges today for consumers’ behavior to impact corporate trustworthiness and commitment on social issues. It can range from a groundswell of local organizations and communities to the 'Yes Men's' parity of movies and social media impact on corporate greed. The 'Yes Man' used social media to release a fake press release for a Chevron ad campaign that included a commitment and reference to a years-long lawsuit in Ecuador, where Chevron is accused of being responsible for $27 billion of oil pollution clean-up costs. Major magazines and network outlets were duped by the hoax and had to retract statements made by the initial release. The URL was so close to the actual company web address that it was missed by many. This was a testament to the contagious speed of viral marketing and value of social network outlets to bring the latest news to millions of people in the shortest time possible with more impact and less cost than conventional forms of promotion. Social media can be helpful in connecting consumers and companies around a cause to emphasize social responsibility. A leading public relations and marketing firm in corporate social responsibility and cause marketing, said social media gives companies “multiple touch points” for engaging consumers. A powerful example of how companies are learning ways in which to use social media is in the real world case of Procter & Gamble who developed a program for Facebook called, “The Future Friendly Challenge” to help consumers save energy, conserve water, and reduce waste for Children’s Safe Drinking Water. Through this simple Facebook strategy, the online initiative generated strong return-on-engagement data in just a few months with more than 20,000 followers who have taken the challenge and committed to saving energy, water, or reducing waste for 90 days – translating to over 20,000 days of clean drinking water donated. More than 7,000 posts have been made by supports with their tips and experiences on how to save energy, conserve water, and reduce waste.

Such social media communities exist in numerous arenas to cross-sell mutual interests and exchange shared values. Corporate responsibility acts as a conduit through which companies can demonstrate their concern about stakeholders. Whatever the focus of a company’s social responsibility program, it needs to be a sustained effort rather than a transitory drive-by. We need to find compelling new ways to help consumers cut through the marketing fog.” Whole Foods market, the industry leader in organic and natural foods, has a very active website that takes their customers from health and wellness to the CEO’s blog, exclusively through the use of Twitter. Responses to customer comments make up 85 percent of all the tweets sent, 10 percent of the tweets are content-based and 5 percent are promotional. Much of Whole Foods message is about sustainability, healthier lifestyles, fair trade, supporting local agriculture, and businesses as suppliers. This coupled with a strong role in generating frequent awareness of corporate social responsibility will solidify the relationship and ultimately create value. CVS/Caremark, the largest pharmacy health care provider in the United States, has focused their CSR using a unique set of assets to reinvent pharmacies and to create sustainable solutions involving many of their key internal and external stakeholders. As outlined in their 6th annual report emphasizing CSR, their mission is to empower stakeholders with time sensitive analytics to enhance access to care, to provide outreach initiatives, and to educate particular interest groups – all in an effort to contribute to lower health care costs for customers and payers (government and health care providers). Incorporating various segmentation factors, CVS/Caremark partnered with Enroll America (a nonpartisan nonprofit organization) and The Medicine Abuse Project (an initiative of The Partnership at Drugfree.org, which aims to prevent a half-million teens from abusing medicine) to ensure patients are well-advised and act responsibly on prescription and health care options. Social media has risen in the ranks of inclusion in many core business strategies and is quickly becoming a key component within the marketing value equation. United Health has implemented a dashboard to customers and other public audiences to demonstrate the company’s commitments toward social progress.

Their social responsibility dashboard allows for the measure of attribute characteristics and includes metrics for workplace engagement, ethics, and integrity; supplier diversity; environmental impact; employee–community involvement; stakeholders’ perspectives on social responsibility; and community giving by increasing brand awareness at minimal expense. To further gain supporters, Hall believes in the straightforward transparent social media approach to harness and highlight a company’s long-term commitment to corporate social responsibility. This spirit of sharing good news she believes will help to spread the word, amplify their cause(s), and galvanize a powerful network of friends. Showcasing the strides a company made for the cause (whether this means funds donated, awareness raised, consumers reached, beneficiaries helped, communities improved, etc.), Target created a local solution to a national issue by personally connecting with parents through a timely and innovative social media campaign. While demonstrating the company’s social responsibility and commitment to schools and education, they partnered with Search Institute® to develop and to implement the ‘Turn Summer Play into Summer Learning’ series on its Facebook page providing savvy parents with fun, weekly tips to help their child’s mind stay active during the summer with research on how it makes a positive impact on child development.

CONCLUSION : Creating buzz and excitement, social media marketing can impact corporate social responsibility (CSR) in numerous ways both internally and externally. By keeping dialogues open with customers, suppliers, and investors; companies develop a further understanding and confidence in the commitment to the concept of social responsibility. Leveraging CSR in the social media world can strengthen consumer trust and loyalty, encourage followers (and their friends) to take action and participate, and put a halo over the brand that dives in. A change in the social media landscape offers a tremendous opportunity for companies to integrate new media options into their marketing strategy, creating a balance of power with consumers, media, and other parties to drive meaningful business outcomes and dramatically improve the performance of their marketing programs.

Question 3:

Answer :

1. Establish your corporate social responsibility values and relevancy :

In order to make CSR part of your company culture, consider establishing a set of values and a sense of relevancy that explains why your business is socially responsible. This can become the basis for any employees or talent who is onboarded as you grow. They can look at your values and better understand the reasoning behind behaviors that promote corporate social responsibility. You can relate these to health and wellness, education, diversity or anything else you value and want your team to believe in.

2. Determine the skills related to social responsibility:

If you are slim on resources to participate in social responsibility programs, focus on those activities that can rely on your time and talent. This includes specific skills you can put to work within the company, as well as volunteer activities outside of the company.

3. Identify potential projects for your company :

While it may take considerable time to keep your business going, you will always be busy. That means you can start taking the time now to participate in internal or external projects related directly to corporate social responsibility. This way, these regular projects will become a living example of the CSR values you are trying to promote. By networking, researching and studying available needs and initiatives, you may be able to identify potential projects where you and your company can assist. For example, you could:

• build homes
• start community gardens
• serve as a mentor
• volunteer to teach after-school programs
• take on workforce service training programs

I suggest creating a list of potential projects and determining what you and your team have the time and energy to do. You can narrow down the list of projects based on those that relate to the core of your business, or that you feel particularly passionate about.

4. Target talent who are on the same page about corporate social responsibility :

One of millennials' key traits is their interest in doing work that matters, so they are usually already willing to participate in CSR. In fact, they may even help you shape your policies and strategy related to corporate social responsibility. That's not to say that older workers won't share a passion for promoting CSR. Do what you can to identify the team members who are willing to participate in these types of activities, as you won't be paying them to join nonprofit projects or volunteer. Try to work side by side with your team so they see you putting your words to work, knowing you share the same beliefs for the greater good.

5. Identify ways your company can be environmentally sound:

By focusing on specific initiatives related directly to the environment, which is one of the pillars of CSR, you may find that you can actually save more money in terms of overhead costs. For example, you can focus on initiatives directed at lowering the company's impact on the environment through solar-based energy use and smaller office spaces.

6. Take baby steps when implementing your CSR program:

Realistically, you may want to take small steps related to corporate social responsibility. Any action that helps the community, society and environment can make a difference. You can build on your CSR program as you develop and expand your company. You are imbuing your business with the spirit of doing more than just making a profit; you're also in business to make the world a better place.

Question 4:

Answer : Ethical standards as though you were running the organization : The definition of “business ethics” is a moral code of conduct companies adopt and pledge to follow. Ethical standards forbid tolerance of and participation in activities considered immoral, unlawful, unfair, dangerous, irresponsible and generally harmful. By setting ethical standards, businesses lower the risk of becoming lawsuit targets, while sealing their reputations as law-abiding corporate citizens.

Accountable leadership is key

Ethical businesses have a high moral code and expect honest and trustworthy behavior from everyone in their organizations. Chief executive officers and other high-level company leaders hold themselves accountable for following and enforcing the same ethical standards as their employees. In five high-standard goals of ethical leaders, including communication in which ethical behavior is both carried out and instilled in a company’s brand; high-quality products and services that everyone in the organization takes responsibility for producing; and collaboration with diverse groups of advisers. The final two goals are succession planning, in which future company leaders pledge to maintain ethical behavior, and tenure, which requires leaders to work for the company in the most ethical way until they decide to leave.

What acceptable conduct looks like

Businesses maintain ethical workplace behavior through internal rules of conduct. They issue restrictions on email content and set appropriate uses of social media and the Internet in general. Zero-tolerance for bullying, verbal and physical abuse, and other confrontations are common rules. Ethical companies fully and immediately comply with all government and EEOC mandates on sexual harassment, discrimination, workplace safety and labor practices. Organizations publish rules of conduct in employee handbooks and require employees to sign agreements stating that they read and understand the rules and consequences for violating them.

Unethical means of doing business

Companies have been known to bend to the pressures of meeting sales goals. Wells Fargo allegedly created a culture in which employees felt pressured to create fake customer accounts to satisfy the bank’s sales quotas. A lapse in ethics has led some businesses to exaggerate their earnings, products’ capabilities and stock values. Other businesses overpromise and under deliver their services. Even badmouthing the competition to gain an edge in customer loyalty and patronage is acceptable practice in some corporate circles. Businesses have been charged with putting products that they know are unsafe before consumers and deceiving the public, and their own stockholders in particular, about their financial standing.