Marketing Assignment Writing help analysis on reflective journal : Ethics journal on corporate social responsibility in professional life

Question the paper asks ?? Write about the Corporate Social and environment Responsibilities & its importance in professional life??

Solution the journal proposes is::

As per the simple definition goes Corporate Social Responsibility hereunder referred to as CSR is a form of corporate discipline which is integrated into the business model of a particular business that ensures stringent monitoring of it constituting elements. The elements considered under CSR include active compliance with the spirit of the law, international norms, and the ethical standards. For an organization it is very important to ensure that CSR is very prevalent while its operations are carried forward which encourages a positive impact to the concerning bodies (Mallen Baker 2004). These bodies may be directly or indirectly related or affected by the business operations, namely:

• Consumers
• Employees
• Stakeholders
• Environment
• Communities
• Each member of the public sphere

With Environment getting a bigger attention with increased pollution and global warming the word CSR is now popularly used as Corporate Social and Environment Responsibilities. The term CSR has come into existence about 4-5 decades ago where multinational corporations realised the importance of adhering by these norms and included them in the main strategic business issues for the management.

Corporate social and environmental responsibilities are not merely philanthropy, but instead, are strategic business issues 

Discussing the social responsibilities for the business usually focuses on ethical as well as economic aspects for an issue. Many times Corporate Philanthropy gets mistaken with corporate social responsibility. However it has to be understood that corporate social and environmental responsibilities are not merely philanthropy, but instead, are strategic business issues. Although corporate philanthropy is regarded as a dimension to the CSR it should not be the sole criteria for discussion when social responsibility of the business is discussed (triplepundit 2012).

Today CSR is divided into three levels, namely:

• Philanthropic
• Basic (Good Citizenship)
• Strategic

For many years it was only philanthropy which was mistaken as CSR which still is prevalent in many countries. The sole reason for that was that it was the most common strategy which businesses utilized for performing better. Moreover some of the basic CSR strategies had been looking as if they were more an act of philanthropy than a strategy. However today the business world is witnessing a drastic change where the focus now is shifting towards basic as well as strategic CSR rather than only the Philanthropic aspects.

Some of the possible strategic moves the business seem to be making are prevention of harm and integrating the societal improvement into the economic value creation. These have turned out to be the key tactics which is redefining their relationships with the society and not a meagre donation policy which companies used to adopt for each year.

Why should business be concerned about social and environmental sustainability at the strategic levels?

Adhering by stringent norms and ensuring the maintenance of Corporate Social and Environment Responsibility by the organizations brings in numerous potential benefits for the businesses around the globe. The nature and the benefits which organizations have are directly proportional to the nature and scale of the business operations. Some of the benefits have been discussed below: (Business that Cares 2012)

Individual Benefits

• Human resources: Strategically a CSR program can be a major contributor for aiding recruitment and retention especially inside the competitive graduate student market. Usually while interviews are conducted the potential candidates are eager to know more about the CSR policies within the organizations. A comprehensive policy could work as an advantage for the organization that would improve the perception of the company among the staff members. Some of the latest trends have been the payroll giving or the fund raising activities which encourages the customer orientation among the frontline employees.
• Contribute towards Risk Management: Managerial risks are regarded as the central part of the corporate strategies. The reputation which a firm develops over decades can easily be ruined in a couple of hours by incidents like scandals, corruptions or environmental accidents. Usually these scenarios tend to attract unwanted attention from courts, media, governments, and the regulators. With the genuine culture for carrying out things to do work in the desired manner could well be the best strategies for the corporations to offset any of these risks.
  • Helps in Brand Differentiation: Be it any market, any industry or any country markets have become highly competitive where companies are striving with every effort to sell something unique and create their brand identity. CSR would highly contribute in building customer loyalty based on the distinctive ethical values a business follows.
  • Obtaining licenses to operate: Almost every organization seems to avoid the interferences within the business through the regulations and taxations. With substantive voluntary steps organizations can persuade the governments as well as the public at large that they take care of health and safety issues, environmental issues, diversity for being a good corporate citizen for respecting the labour standards as well as the impacts they were making to the environment.
  • Environmental and society: CSR is basically the entire effort to manage the business in a way to produce an overall positive impact to the society. This is the reason why they ensure that interests of the society is never compromised by taking the responsibility for any impacts that occur to the customers, suppliers, shareholders, employees, and the communities. One of the other elements which are largely taken care of by the companies while practicing CSR is the environment while integrating ethical concerns in all its processes and activities.

Business Benefits

Societal Benefits

Plan for the next 10 years as an Accounts and Finance manager

With such a competitive and demanding professional life ahead it really needs dedication and the right means to work for the companies while making a career. Planning in advance and making the right moves at the right time is what is required from the point of view of a budding manager. The 10 years after the professional world starts holds the key for a safe and secured future. As an accounts and Finance Manager the plan should be to join a new or a growing concern so that the learning process is facilitated by active participation in the day activity. Although joining the biggies could well be an option but the learning process within the smaller or emerging units is way higher. After 4 to 5 years when the organization has grown manifolds it could be the time to initiate a move and switching to an established organization based on the experience accumulated and the contributions in the last firm. This would surely be the next step towards moving out to another level in the career.

Continuous learning backed by important projects would shape the career in a way that leads in promotions and assignment of higher levels of responsibilities within the organization for the next 5 years. 

Importance of Integrity and ethics in professional life

Integrity is defined as the consistency of actions, methods, values, measures, expectations and principles. In simple terms integrity is being honest and truthful in your professional life and acting in the ways which are consistent with your principles. It is very important for every individual to follow the above things so that the organizations and its employees have faith on the individual while a particular job responsibility is assigned. Having integrity means standing up for the things and views which are right and carry out the things in the right manner. Moreover integrity could well be maintained when an individual makes the right choice even though the path may not be easy (Preparing Your Family 2011).

On the other hand ethics complement an individual’s professional life equally. Being ethical in carrying out operations and following values may be difficult in the highly politicized work environment. But in the longer run being ethical pays off where people tend to rely on the individuals while assigning responsibility and shaping up a great career (IDEA.Leeds 2012).

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