The concept of Corporate Social Responsibility and Ethical Business Practices in International Management is aimed at promoting business accountability to the various stakeholders and investors besides the shareholders themselves (Williams, 9). In Corporate Social Responsibility and Ethical Business Practices in International Management the key areas of concern are the protection of the environment, the wellbeing of employees and more importantly the community in general both as at now and in the future.
Traditional concepts of competitiveness and profitability are slowly being swept away. Corporations can no longer act as isolated economic entity detaching itself from the broader society. They are so many factors that have pushed for Corporate Social Responsibility and Ethical Business Practices in International Management. First is the growing pressure from the investors. Investors have changed their ways of assessing the performance of companies (Bazerman, 27). They are now making the decision that is based on the criteria of ethical concerns. Findings have shown that majority of shareholder now days take into account the ethical considerations before buying or selling stocks.
Competition in the labor market has also increased largely. Currently, employers are looking beyond the benefits. They are seeking out for employers whose share and match concerning principles, philosophies, and operating practices (kusky, 10). There is also a greater demand for corporate disclosure among the stakeholders comprising customers, investors, the community, employees and as well as the activists organizations. Customer interest is another issue. It is clearly evident that the ethical conduct of companies have a greater influence on the purchasing decisions that a customer will have to make. For instance recent findings several cases have been reported where consumers have in a way punished or rewarded by their social performance.
In as much as stakeholders are increasingly becoming interested in business deals some companies are taking steps to make sure that their business partners conduct themselves socially responsibly. Adopting the Corporate Social Responsibility and Ethical Business Practices in International Management comes along with positive outcomes for the companies, the general public is well environmental benefits.
As for companies, there will be the increase in sales and, more importantly, customer loyalty. They will see improvements in productivity, access to capital, products safety, and diversity of the workforce. The community on the other side will benefit from charitable contributions. There will be an introduction of employee volunteer programs as well as the corporate involvement of the community in education, employment programs. Corporate Social Responsibility and Ethical Business Practices in International Management is also of great benefit to the environment. It will see that there is greater material recyclability as well as the use of renewable resources.
Some companies, however, continue to undermine Corporate Social Responsibility and Ethical Business Practices in International Management, for instance, the importation of timber that has been harvested illegally (Grant, 46). The concept of Corporate Social Responsibility and Ethical Business Practices in International Management as at now is rooted in the international business agenda. However for it to move from theory to implementations a lot of aspects have to be overcome. Along with Corporate Social Responsibility and Ethical Business Practices in International Management strategies transparency and dialogue are essential to help a business to gain trust as well as at the same time pushing the standards of other organization. Corporate Social Responsibility and Ethical Business Practices in International Management will help to increase the recognition of the public-private partnership.
Works Cited
Bazerman, Max. Creating Values And Weighing Values. 2005. Print.
Grant, Adam M. Give And Take. New York, N.Y.: Viking, 2013. Print.
Kusky, Sophie. Leading To Navigate The Rough Seas Of Ethics,. 2010. Print.
Williams, Sandra. Engaging Values In International Business Practices. 2011. Print.
