Question

Please provide response to four (4) of the seven (7) questions listed below.

1. For corporate advocates of the specific CSR theory, what are the responsibilities the corporation holds, and how are conflicts between those responsibilities managed?

2. Create a hypothetical situation in which philanthropy would not be required of a corporation by CSR theory.

3. What does sustainability mean within each of the three columns of the theory of the triple bottom line?

4. How does the fair trade movement fit together with the triple-bottom-line theory of corporate responsibility?

5. Who are the stakeholders in stakeholder ethics?

6. What does it mean for a corporate director to “balance stakeholder interests”?

7. What basic elements do CSR, the triple bottom line, and stakeholder theory have in common?

Answer 1

1-For corporate advocates of the specific CSR theory, what are the responsibilities the corporation holds, and how are conflicts between those responsibilities managed?

• the responsibilities the corporation holds is Corporate social responsibility (CSR), The triple bottom line, Stakeholder theory.and to conflicts between those responsibilities managed: the field of business ethics has mainly concerned conflicts and dilemmas erupting inside the company as people try to work together to win in the very competitive economic world. The idea of corporate social responsibility—along with the related ideas of the triple bottom line and stakeholder theory—opens a different kind of business ethics. Morality in the economic world is now about corporate directors sensing and responding to a broad range of obligations, ones extending through the town where the business is located and then out into surrounding communities and through society generally.For example, to remain profitable, an industrial plant may need to dispose of waste and toxins in barrels that barely meet legally required strengths. Assuming those legal limits are insufficiently strict to guarantee the barrels’ seal, the spirit of the law may seem violated. The positive economic aspect of the decision to cut corners is the ability to stay in business

3-What does sustainability mean within each of the three columns of the theory of the triple bottom line?

• The notion of sustainability is very specific. At the intersection of ethics and economics, sustainability means the long-term maintenance of balance. As elaborated by theorists including John Elkington.

4-How does the fair-trade movement fit together with the triple-bottom-line theory of corporate responsibility?

• The fair-trade movementProponents ask businesses—especially large producers in the wealthiest countries—to guarantee that suppliers in impoverished nations receive reasonable payment for their goods and services even when the raw economic laws of supply and demand don’t require it. fits this ethical imperative to shared opportunity and wealth. Developed and refined as an idea in Europe in the 1960s, organizations promoting fair trade ask businesses—especially large producers in the richest countries—to guarantee that suppliers in impoverished nations receive reasonable payment for their goods and services even when the raw economic laws of supply and demand don’t require it. An array of ethical arguments may be arranged to support fair trade, but on the front of sustainability, the lead argument is that peace and order in the world depend on the world’s resources being divided up in ways that limit envy, resentment, and anger.