This is especially true for stakeholders that have typically been given low priority and little voice, such as the natural environment and community members who live near corporate sites and manufacturing facilities.
In 1999, Dow Jones began publishing an annual list of companies for which sustainability was important.
Sustainability is the practice of preserving resources and operating in a way that is ecologically responsible in the long term.
This section examines the concept of a corporation as a socially responsible entity conscious of the influences it has on society.
In recent years, many organizations have embraced corporate social responsibility (CSR), a philosophy (introduced in Why Ethics Matter,) in which the company’s expected actions include not only producing a reliable product, charging a fair price with fair profit margins, and paying a fair wage to employees, but also caring for the environment and acting on other social concerns.
That is, we look at the role companies, and large corporations in particular, play as active stakeholders in communities.
Ethics Corporate Social Responsibility Essay Introduction To A Literature Review
Corporations, by their sheer size, affect their local, regional, national, and global communities.
The trend to adopt CSR may represent an opportunity for greater engagement and involvement by groups mostly ignored until now by the wave of corporate economic growth reshaping the industrialized world.
Corporations have responded to stakeholder concerns about the environment and sustainability.
Creating a positive impact in these communities may mean providing jobs, strengthening economies, or driving innovation.
Negative impacts may include doing damage to the environment, forcing the exit of smaller competitors, and offering poor customer service, to name a few.