Lecture notes
BUSINESS ETHICS AND CSR
- Institution
- Loughborough University (LU)
these are the notes for the business ethics and CSR module. i have uploaded various kinds of documents, from pointers to detailed notes to even essays
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Business ethicsCSR THEORY
Proliferation of terms meaning expansion of csr and its applications and roles
1.Instrumental – sole purpose is to create wealth, social activity is only
accepted if it meets that goal. CSR is a means to an end.
2.Political theories – social and political power of the corporation. Therefore has social duties.
3.Integrative theories – ought to integrate social demands as you depend on society.
4) Ethical theories – the relationship between business and society is embedded in ethical
values, there is an ethical obligation
,INSTRUMENTAL
THIS theory involve using CSR as a strategic tool and involves Only doing activities that will
improve the bottom line or that you have to do i.e. through legislation
Market Research in order to achieve well and create a good business strategy focuses on finding
a link between CSR and financial performance .
IDEAS IN INSTRUMENTAL THEORIES
1)It involves creating shared value i.e companies can do well and perform better by doing
good or by solving social problems and in turn earn profits creating shared value.
2)A way of doing it is, by realising and capitalising on the fortune at the bottom of the pyramid
.technology can be leveraged to enable sustained social and economic growth for those at the bottom of the
economic pyramid. UNILEVER is an example
3) The business case guides businesses to focus on points in order for a business to be a responsible
business and get the following benefits
1.Brand value and reputation
2.Employees and future workforce
, 3.Operational effectiveness
4.Risk reduction and management
5.Direct financial impact
6.Organisational growth
7.Business opportunity
8.Responsible leadership
9.Macro-level sustainable development
4)A BLOSSOMING IDEA
1) Also this theory can be used to help justify expenditure or investment needed for a
project
2) Helps Turn morally principles into economic principles
3) while convincing for investment in projects, its a very dominant idea that fits with the society
and helps closing the investor or higher level management
4) Appeal of morally neutral language
POLITICAL
Focuses on power and position of business
Inherent(essential) responsibility
LEGITIMACY THEORY
Organisations seek to ensure they operate within the bounds and norms of their respective
societies
–activities are perceived to be legitimate.
As bounds and norms are not static, organisations need to be responsive
Basically follow and make sure u follow laws
SOCIAL CONTRACT DONALDSON (1982)
Represents the implicit and explicit expectations that society has about how organisations
should conduct operations
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