Corporate Social Responsibility Paper - 5866 Words

FINAL EXAM PAPER CSR and the Future of Corporate Accountability As is the case with most anything of any interest, the deeper you look into Corporate Social Responsibility (CSR) the more difficult it is to define. And as long as it remains difficult to define, it will be difficult to communicate and enforce. Part of the difficulty lies in the fact that one is faced with a series of questions related to corporate social responsibility, human rights and the law along a parallel path of considering the importance of profits, business innovation and market share. Just what is the role of business as it pertains to social responsibility? Corporations are not in business to save the world. They are in business to make money. But what†¦show more content†¦Yet the very nature of CSR makes it difficult to draw clear lines between specific social programs and codes of conduct and these kinds of results. Business is all about measurement and goal setting. CSR, in so far as it attempts to effect behavior of both internal and external audiences, can be an elusive element to put into an Excel spreadsheet. It’s also something where change occurs over years, rather than over night. One may replace lighting fixtures in a warehouse to improve efficiency and reduce energy use as part of a policy of environmental stewardship which may be a part of a larger CSR program, but even then it can take months or even years to see that investment pay off in lower lighting bills and decreased energy usage. There is also an element of CSR that holds a negative measurement component. Effective CSR may PREVENT activities, so instead of measuring what happens, you need to look at what DOESN’T happen as a means of measuring success. For example, a successful safety and quality of life standard policy may prevent accidents and improve employee job satisfaction. But can you definitively state that either policy directly saved X lives or prevented YShow MoreRelatedCorporate Social Responsibility Group Paper1344 Words   |  6 Pages MGMT 2130 (Section 002) Corporate Social Responsibility Group Paper Brenda Lang Marisa Arnholtz, Kyla Mackie, Cassidy Makus October 19, 2015 â€Æ' Corporate Social Responsibility Group Paper In 1955, the McDonald’s franchise was established by Ray Kroc. Since then, it has been a growing success in the food and drink industry, directly and indirectly employing over 200,000 people throughout Canada. (McDonald’s, 2015, para. 2). McDonald’s is generating nearly $4.5 billion in the local annualRead MoreCorporate Social Responsibility Paper 2726 Words   |  3 Pagesï » ¿ Corporate Social Responsibility- MNGT 5990 A. List 5 outcomes that make Walmart a socially responsible company. 1. Giving back to the society: The Walmart Foundation gives back to the society by giving scholarships and contributing to charitable organizations worldwide. 2. Women’s empowerment: Walmart and the Walmart Foundation are providing training and career opportunities for nearly 1 million women worldwide. 3. Energy efficiency: Renewable energy sources account for 21% of Walmart’s electricityRead MoreSocial Responsibility And Business Ethics Essay1470 Words   |  6 Pagespurpose of this paper is to assess an article written by William Cohen (2009) which outlines Peter Drucker’s description of the role of social responsibility in business organizations and society. This paper will compare similarities and differences between Cohen’s perspective on social responsibility to the social responsibility and business ethics theories of Drucker and Milton Friedman. Furthermore, this paper will provide a frame of reference on corporate social responsibility and business ethicsRead MoreConcept Of Corporate Social Responsibility1723 Words   |  7 PagesSocial responsibility is an idea that has been of concern to mankind for many years. Over the last two decades, however, it has become of increasing concern to the business world. This has resulted in growing interaction b etween governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. â€Å"Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions† (AndersonRead MoreCorporate Social Responsibility Is A Hard Edged Business Decision1073 Words   |  5 Pagesâ€Å"Corporate social responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it... because it is good for our business† (Fitzerald, n.d.). In view of the aforementioned citation, it dispenses an intuitive frame of reference into the purpose of this case assignment. As this paper will be expounding upon both the short and long-term ramifications of corporate social responsibility (CSR). Moreover, this case assignment will reviewRead MoreCorporate Social Responsibility On A Social Level1086 Words   |  5 PagesA bstract The purpose of this paper is to understand how a large progressive company operates in the corporate world as well as fulfills their corporate responsibility on a social level. While corporate responsibility is important, it is always viewed through the fiscal viability dimension of the maelstrom. The business case dominates the representation and operationalization of corporate responsibility. Due to the increased public sensitivity to corporate responsibility, the attitude has evolved fromRead MoreThe Concepts Of Csr And Financial Performance1450 Words   |  6 PagesTo measure the corporate social responsibilities and financial performance, the property and concept should be the first concern. This chapter aims to provide a detailed description of the concepts of CSR and financial performance. The framework and theories of CSR and financial performance are analyzed in the following sections. In addition, the measurement of corporate social performance and financial performance a re also discussed. 2.1 What is CSR? After more than one hundred years of improvementRead MoreThe Concept Of Corporate Social Responsibility Essay1696 Words   |  7 PagesConcept of Corporate Social Responsibility According to Pearce Robinson (2014), corporate social responsibility (CSR) is â€Å"the idea that business has a duty to serve society in general as well as the financial interests of stockholders.†(P.56) The concept of corporate social responsibility of the business operation must comply with sustainable development idea; the company should not only consider its own financial and operating conditions, but also think of its impacts on the social and environmentRead MoreChallenges in Implementing Csr1580 Words   |  7 PagesChallenges in implementing CSR Corporate Social Responsibility can be separate into internal dimension and external dimension. Internal dimension and external dimension Internal dimension focuses on organizational practices with respect to internal stakeholders that should be aligned to corporate social responsibility standards. It includes human resource management, safety and health, environmental impact and corporate change. External dimension focus on an organization practices towards externalRead MoreThe Ethical And Social Responsibilities Of Merck And Company1298 Words   |  6 Pagesgroundbreaking discoveries in developing medications. This paper will cover a scenario where Merck was considering the further development of a preexisting medication to treat patients with a mosquito transmitted worm larvae that thrives in the new host and reproduces within the host better known as river blindness. This paper will examine the corporate ethical and social responsibilities by evaluating the stakeholders, the Corporate Social Responsibility Pyramid, then organizational values, Stakeholder Impact

Islamic Auditing and Conventional Banking Free Essays

Auditing is an examination and verification of a company’s financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant. According to AlBaraka, Islamic bank is an institution that mobilizes financial resources and invests that money in an attempt to achieve pre-determined islamically – acceptable social and financial objectives. Both mobilization and investment of money should be conducted in accordance with the principles of Islamic Sha’riah whereas according to Ustaz Hj Zaharuddin (2007) stated that conventional bank operates based on debtor-creditor relationships. We will write a custom essay sample on Islamic Auditing and Conventional Banking or any similar topic only for you Order Now For example, it is between depositors (creditor) and bank (debtor); and borrowers (debtor) and the bank (creditor). Conventional bank maximize profit by charging interest to customers. On the other hand, Basu (2006) defines Audit report as â€Å"†¦ the document to which auditor convey his opinion about the fairness of the financial statements†. The audit report is one of the vital parts of communication used by auditors. The nature of the report must be clear and concise enough to be disclosed and communicated as its represents the auditor’s credibility as well as the degree of responsibility being undertake. Often the role of conventional auditor is to come up with a report examining the credibility of the financial statements and whether the financial statements are prepared in accordance with an applicable and relevant auditing standard. However, when referring to the auditor’s report of Islamic Bank or the Sha’riah supervisory report of an Islamic Bank, the scope of auditor’s report will be extended. This is because auditors for Islamic banks must also attest the compliance of the bank practice to that How to cite Islamic Auditing and Conventional Banking, Essay examples

Business Law Corporations and Associations

Question: Discuss about theBusiness Lawfor Corporations and Associations. Answer: Introduction In the present case, a contract has been created between Darryl and Jonathan according to which, Jonathan was going to provide guards and specially trained drug detection dogs for patrolling the nightclub of Darryl. The contract was for six months and the total fee decided by the parties was $600,000. It was also mentioned in the contract that if appropriately trained sniffer dogs were not provided by Jonathan at whatever time for the duration of the contract, Darryl has a right to finish the contract after giving a written notice of one week. Under the circumstances, after two months of the contract, one of the sniffer dogs of Jonathan fell ill. During this time, Jonathan substituted the sniffer dog with an ordinary guard dog for one week. Darryl was very upset when she came to know about it because in the past one month, there has been increased police patrolling and most of the nightclubs. Therefore, Darryl immediately paid Jonathan for the last nine services and told Jonathan tha t she did not want to see him or his dogs again. As a result, the contract was terminated by Jonathan. In this case, the issue is to determine the rights and obligations of Darryl and Jonathan under the law of contract. Classifications of terms: The contractual terms fall under the categories of conditions, warranties and innominate terms. Conditions can be described as the most significant terms of a particular contract (Baxt, Fletcher and Fridman, 2008). There are serious consequences for the parties if a condition of the contract has been breached. In such a case, the law allows the innocent party to terminate the contract and likewise, damages can also be claimed by such party (Poussard v Spiers, 1876). Warrantees in contrast, are the less imperative terms of a contract. Therefore, serious consequences do not arise in case of a breach of warranty. In such a case, the law of contract provides that damages can be claimed by the innocent party however such party is not conferred the right to end the contract (Bettini v Gye, 1876). There is also the category of innominate terms. This area was created in Hong Kong Fir Shipping v Kawasaki Kisen Kaisha (1962). Instead of classifying the terms of the contract as conditions are warrantees, under the innominate terms approach, the effect of the breach of the term is considered. Therefore if the innocent party is deprived of nearly all the advantage under the contract, such party is allowed to consider that the contract has finished. Discharge of contract: It means that the obligations of both the parties under the contract are finished. The reason is that when the body is surrendering to the original contract, the rights and obligations of the parties as the contractual obligations were established. Similarly when these rights and duties are put out, it is said that the contract has been discharged (Harris, Hargovan and Adams, 2013). Once a contract has been discharged, the parties to the contract are not liable even if the obligations under the contract have not been fulfilled. A contract can be discharged in several different ways:- Discharge of contract by a subsequent e-mail between the parties; Discharge of contract by performance; Discharge of contract by impossibility of performance; Discharge by operation of law; Discharge due to lapse of time; Discharge by satisfaction of contract; and Discharge of contract by breach of contract. The failure to complete the contractual obligations called the breach of contract. The law of contract provides that the discharge of contract may take place in case of the breach of contract. A breach of contract can be real breach and anticipatory breach. The anticipatory breach of contract takes place when a party to the contract reveals its intention than it does not going to perform its obligations prescribed by the contract. In such a case, the law of contract does not provide that the innocent party should wait that the breach of contract may actually take place before such party can initiate action for such breach (Hochster v De la Tour, 1853). In this way, in case of anticipatory breach, the innocent party has can either immediately sue the other party or to carry on with the contract on its part and wait until the actual breach of contract takes place. Remedies for breach of contract: When it has been established that there has been a breach of contract on the part of one party, there are several remedies that are available to the innocent party. These remedies include damages, the recession of contract, the remedy of specific performance and the modification of contract. The remedy of damages is available to the innocent party for a breach. In case of damages, the court awards at sum of the money for the purpose of compensating the innocent party. Under the law of contract, the main purpose of providing damages is to place the injured party in the same position in which it would have been if the other party would have performed the contract according to its terms. Generally when a party to the contract has to deal with a breach by the other party, such party can claim damages. In this context, damages can be described as monetary damages. Damages can be compensatory damages (expectation damages and consequential damages), liquidation damages, punitive damages, nominal damages and restitution. Expectation damages are intended to cover what was expected by the injured party under the contract. Usually, straightforward calculations are made, on the basis of the contract itself or the market values. Another remedy that may be available to the innocent party is the recession of contract. However it needs to be mentioned that the recession of contract is an equitable remedy before it is the discretion of the court to avoid this remedy (Sweeney, OReilly and Coleman, 2013). In case of the recession of contract, it is tried that the parties to the contract are placed in the pre-contractual position and in this way, the recession of contract amounts to the unraveling of the contract (Long v Lloyd, 1958). In the present case, there has been a breach of contract by Jonathan when he failed to provide the sniffer dog and instead, sent an ordinary guard dog. At the same time, this breach of contract can be described as a significant breach. The reason is that it can be described as a condition of the contract between Darryl and Jonathan that sniffer dogs will be provided by Jonathan so that nobody can smuggle illegal drugs in Darryl's club. Hence this failure on part of Jonathan can be considered as a breach of contract between Jonathan and Darryl. This provides a right to Darryl to terminate the contract even if she had not provided the mandatory one weeks notice to Jonathan before terminating the contract. On the other hand, it can be claimed by Jonathan that there has been a breach of contract on part of Darryl and as a result, he had terminated the contract. Jonathan may want to claim damages for the breach of contract by Darryl. However, in view of the provisions of the law of contract that have been discussed above and the relevant case law, it can be said that in this case, a condition of the contract has been breached by Jonathan. Therefore the remedies provided by the law, for the breach of contract, are available to Darryl. References Baxt, R, Fletcher, K Fridman, S 2008, Corporations and associations: cases and materials, 10th edn, LexisNexis, Butterworths, Sydney, New South Wales Harris, J, Hargovan, A Adams, M, 2013, Australian corporate law, 4thedn, LexisNexis Butterworths, Chatswood, New South Wales Sweeney, B, OReilly, J Coleman, A, 2013, Law in Commerce, 6thedn.2015, Australian Corporations Legislation, LexisNexis Butterworths/CCH (Vol 1) Case Law Bettini v Gye 1876 QBD 183 Hochster v De la Tour (1853) 2 E B 678 Hong Kong Fir Shipping v Kawasaki Kisen Kaisha [1962] 2 QB 26 Long v Lloyd [1958] 1 WLR 753 Poussard v Spiers (1876) 1 QBD 410