Research Paper on "Corporate Governance and Social Responsibility the Pyramid"
Research Paper 16 pages (5027 words) Sources: 7
[EXCERPT] . . . .
Corporate Governance and Social ResponsibilityThe pyramid of corporate social responsibility
The three-domain model of corporate social responsibility
Factors determining the importance of corporate governance and corporate social responsibility
Strategic issues with corporate governance and corporate social responsibility..5
The case of Wal-Mart
Importance of corporate social responsibility
Strategic issues
Concluding remarks
The contemporaneous society is changing at a rapid pace and organizations need to change along in order to remain competitive and able to attain their financial goals. Corporate governance and social responsibility represent modern day tools through which economic agents strive to improve their relationship with the stakeholders. In this light of events, a question is being posed relative to the roots of the organizational interest in the tools of corporate governance and social responsibility, with particular interest for the underlying factors. It also important to identify and assess the strategic issues involved in corporate governance and social responsibility.
In order to answer these questions, a dual approach would be implemented. On the one hand, a review of the available literature would be conducted to identify the theoretical dimension of the questions. The literature review will however only partially answer the questions and in broad and generic contexts. In order to more particularly identify the dimensions of the questions, a research would be conducted on
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the real life case of corporate governance and corporate social responsibility implementation within Wal-Mart.download full paper ⤓
The findings -- supported throughout the work with tables and graphs -- are integrated within the final section of Concluding Remarks, which restates the most important issues of the literature review and of the research conducted. Throughout this section, another topic would be address. It revolves around the impact on the organizations' growth and expansion strategies in a context in which the firms face the challenges of corporate governance and social responsibility. In the last section, the dual contribution of the project is also revealed and the relevance of the findings is discussed.
2. Introduction
There is virtually no doubt that the society continually evolves. Whether one likes it or not, this evolution is a constant of the modern day life. The business community has been one particular sector which was deeply impacted by the changes of the past few decades. One example in this sense is constituted by the developments at the level of the human resource. Once perceived as the force operating the organizational equipments, the staff members are now regarded as the most important organizational assets (Boyd, 2003). The employees are now valued not for their physical abilities, but for their intellectual capital which can be used in the creation of more organizational value.
Another example is offered by the development of a more in depth and stronger relationship with the customer, which is now not the group buying the items produced by the company, but the force demanding what products to be manufactured and sold. Overall, it is observed that changes have impacted the relationship of the company with all of its stakeholder categories -- customers, employees, business partners, purveyors, competitors, the general public, governmental and non-governmental institutions and so on.
Given this scenario and the emergent challenges of the modern day community, leaders of economic agencies have intensified their efforts in adapting along. One particular means in which this desiderate is brought closer to the organizational context is that of the development and implementation of corporate governance and social responsibility programs. Through these programs, economic agents hope to better interact with the audience and as such improve their reputation as well as the demand for their products.
In other words, the scope of economic agents has remained the same as that of the past decades -- the registration of profits -- but the demands of the audience have changed. This means that the companies are now forced to change the means in which they attain their goals. Corporate governance and social responsibility strategies offer them the new context for reaching their secular goal in the context of the emergent demands of the internal and external environment.
3. Literature Review
The concepts of corporate governance and corporate social responsibility are often misused as perfect synonyms, when they are in fact two different elements. It could be said that corporate governance and corporate social responsibility are similar to the concepts of management and leadership -- while management deals with technical functionalities within a firm, leadership deals with the motivation and integration of the employees. Similarly, corporate governance is in charge of internal functionalities, such as resource allocation, product quality or employee efficiencies, whereas corporate social responsibility is in charge of stakeholder relations.
The concept of corporate social responsibility (CSR) is a direct component of the greater concept corporate governance and it is a particular tool by which the company strives to improve its image and as such generate more demand for its products and services, to improve its financial results. "CSR is an extended model of corporate governance, to be successful in its CSR program: a company must be successful in its corporate governance. While corporate governance deals with the internal handling of the company, like accounting procedures and general business ethics, CSR specifically deals with stakeholders like the environment and the communities" (Akerstrom, 2009).
The framework for corporate social responsibility was initially created in the form of a pyramid, which contained four layers: economic, legal, ethical and philanthropic.
Figure 1: The pyramid of corporate social responsibility, Akerstrom (2009)
At the first level, it was required that the company be profitable in order to cover its expenditures and realize its financial goals. At the second level, it was demanded that the economic agent respected the legislation. At the third level, it was expected that the company operated in an ethical manner in all aspects of business operations and decisions. Finally, at the fourth level, it was desired that the organization be a good corporate citizen.
The critics of this initial model argued that the fourth level is fairly limited and should not be an individual pyramidal level of its own. This sustained criticism has lead to the construction of a second corporate social responsibility framework -- the three-domain model of corporate social responsibility -- from which the philanthropic dimension was eliminated.
Figure 2: The three-domain model of corporate social responsibility (Akerstrom, 2009)
The model is explained in the meaning that "the three components are all equally important and interact with each other, where some corporations might be labeled purely ethical or purely legal, whereas other can be labeled as economic. Legal and at last some can also be labeled as combination of the three, economic, legal and ethical" (Akerstrom, 2009).
An article entitled Governance as a form of social responsibility, featured in the Journal for Quality and Participation, argues that economic agents often implement the practices of corporate social responsibility in relationship to the environment, but that this approach is limited. The editors quote the framework as it has been issued by ISO 2600, and which reveals seven distinct dimensions of corporate social responsibility as follows:
1. The involvement within communities and the offering of support in the development of the communities
2. The implementation of fair operating practices
3. The protection of human rights
4. The implementation of the adequate labor practices
5. The development and implementation of adequate organizational governance practices
6. Focus on customer rights and satisfaction
7. The protection of the natural environment
According to the same source, the responsibility of an economic agent is understood in terms of the "impacts of its decisions and activities on society and the environment, through transparent and ethical behavior that contributes to sustainable development, including health and the welfare of society; takes into account the expectations of stakeholders; is in compliance with applicable law and consistent with international norms of behavior; and is integrated throughout the organization and practiced in its relationships" (the Journal for Quality and Participation, 2009).
Based on this understanding, it becomes obvious that corporate governance and corporate social responsibility refer to the actions and decisions by which companies make and implement decisions, with consideration of the following: accountability, transparency, ethics, stakeholder interests and compliance with the legal stipulations (the Journal for Quality and Participation, 2009).
John M. Conley and Cynthia a. Williams (2005) argue that the principal scope of corporate social responsibility is that of ensuring sustainable growth for the organization. And aside from being an organizational attempt to improve the image and as such better appeal to customers, CSR is becoming an increasing necessity. In the aftermath of the large corporate failures of the twenty-first century, such as Enron or WorldCom, the legislators have forced economic agents to implement the practices of transparency to a wider extent.
Still from a legal standpoint, the matter of corporate social responsibility is questionable. While the new laws have made it possible for large sums of money to be transferred from the economic agents to not for profit entities, managers are not directed towards the institutions to support. This often leaves room for managers to… READ MORE
Quoted Instructions for "Corporate Governance and Social Responsibility the Pyramid" Assignment:
“TOPIC: CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY
- BUSINESS SUBJECT : CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY
REPORT.
WORD COUNT: MINIMUM 4800 WORDS.
- DUE DATE FOR THIS ORDER IS WED 21 JULY 2010 AT 11PM .
LATE ORDER DELIVERY WILL NOT BE ACCEPTED.
LATE DELIVERY WILL NOT BE PAID. THERE IS TO BE STRICTLY NO LATE DELIVERY.
PLEASE .THANK YOU VERY MUCH.
NO PLAGARISM, NO CUT AND PASTE , NO COPYING ALLOWED. THIS ORDER WILL NOT BE PAID IF THERE IS PLAGARISM. ORIGINAL WRITING ONLY.
REPORT.
WORD COUNT: MINIMUM 4800 WORDS.
TOPIC: CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY
- BUSINESS SUBJECT : CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY
PLEASE KINDLY WRITE a Critical and Detailed Report on the following:
Address the following questions under *****the main focus of the report*****
and PLEASE USE an international organisation of your choice to illustrate your arguments.
The main focus of the report:
*****¢ Identify why International firms are showing increasing interests in corporate social responsibility and corporate governance. Present an in-depth analysis of all possible factors (economic, social, cultural, legal and technological and so on).
*****¢ Identify what strategic issues in particular are involved in addressing corporate social responsibility issues, and evaluate them from various theoretical perspectives. The analysis must be detailed.
*****¢ Substantiate your arguments with supporting data, tables, graphs and quotations from books, magazines, journal articles and other published sources. The main focus must be on academic journals. You may also use raw data from your own research.
*****¢ Conclude your report with the most important findings of your research and show the implications of the findings for the growth of international business if organisations face the challenges of corporate social responsibility
*****¢ Show your own contribution to the development and refinement of the topic. We would like to see your originality, analysis and interpretation of information you have used in THIS REPORT. NO PLAGARISM FOR THIS REPORT.
*****¢ Referencing must be EXTENSIVE and MUST STRICTLY mainly articles from recognized and refereed scholarly journals.
FULL HARVARD STYLE REFERENCING MUST BE FULLY PROVIDED.
IN-TEXT HARVARD REFERENCING MUST BE 100% FULLY PROVIDED.
BIBLIOGRAPHY MUST BE FULLY PROVIDED IN HARVARD REFERENCING STYLE.
Referencing must be EXTENSIVE and MUST STRICTLY mainly articles from recognized and refereed scholarly journals.
STRICTLY NO PLAGARISM OTHERWISE THIS ORDER DELIVERY WILL NOT BE ACCEPTED AND WILL NOT BE PAID.
DUE DATE FOR THIS ORDER IS WED 21 JULY 2010 AT 11PM . LATE ORDER DELIVERY WILL NOT BE ACCEPTED.
LATE DELIVERY OF THIS ORDER WILL NOT BE PAID.
THERE IS TO BE NO LATE DELIVERY. PLEASE .THANK YOU VERY MUCH.
PLEASE .THANK YOU VERY MUCH.
Report weightage Criteria:
Critical Evaluation of the Literature
The literature has been presented and evaluated clearly and objectively.
Authors conflicting and complementary ideas are presented and discussed.
There is sufficient evaluation of research design and methodological issues within research literature.
The amount of detail included on an issue relates to its apparent importance.
The literature includes current contributions and seminal contributions where required.
Argumentation
Relationships between specific points/issues are made clear.
The paper is interpretative and analytical rather than descriptive.
Overall arguments supported by the literature
Appropriate evidence is used to support statements.
Direct quotations, if used at all, are used effectively.
Content
A controversy within the scholarly literature is clearly identified
Literature selection has direct relevance to the controversy
Structure
The introduction provides context, purpose and clearly signals the structure of the paper.
The body of the paper is cohesive and built on a logical sequence of relevant paragraph based points.
The material is organized according to issues
The conclusion follows logically and consistently from the introduction and the body of the paper.
Writing Requirements
The writing is clear, concise and smooth-flowing.
Each paragraph introduces and develops a specific point.
Sentences are properly constructed and the prose is grammatically correct and well punctuated.
Word choice is appropriate and words are correctly spelt.
Referencing -HARVARD REFERENCING
Sources used are adequately and accurately referenced throughout the paper
References are drawn from an adequate range of scholarly and relevant sources.
The reference list is presented consistently and accurately.
STRICTLY NO PLAGARISM OTHERWISE THIS ORDER DELIVERY WILL NOT BE ACCEPTED AND WILL NOT BE PAID.
PLEASE .THANK YOU VERY MUCH.
REPORT SAMPLE ONLY - TEMPLATE:
TABLE OF CONTENTS
LIST OF TABLES*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦. ii
LIST OF FIGURES*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ ii
EXECUTIVE SUMMARY*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦. iii
1. INTRODUCTION*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ 1
2. NAME OF SECTION TWO*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ 1
3. NAME OF SECTION THREE*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ 1
3.1 LIST ALL THE SUBSECTIONS*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦.. 1
3.2 REMEMBER TO REPLACE THE PAGE NAMES*****¦*****¦*****¦*****¦*****¦*****¦. 1
4. DELETE ANY UNNECESSARY LINES*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦.. 2
5. CONTINUE TO ADD IN THE SECTION NUMBER AND NAME*****¦. 2
6. CONCLUSION*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ 2
APPENDIXES ..*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦. 2
REFERENCE LIST*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ 2
LIST OF TABLES
Table 1 Title of Table 1*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ 1
Table 2 Title of Table 2*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ 1
Table 3 Title of Table 3*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦ 1
LIST OF FIGURES
Figure 1 Title of Figure 1*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦.. 2
Figure 2 Title of Figure 2*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦*****¦.. 2
If you only have one or two graphics list them on the table of contents page.
EXECUTIVE SUMMARY
Begin your text here. If you place your curser over this text you will notice that the Styles box on the toolbar will change to Body Text No Indent automatically. If you place the curser back on the title you will notice the Styles box will change to Title. Type over these paragraphs to keep these settings and keep your summary in a consistent style. Using templates will save you time and ensure that you have all the components for the report. This file is only the preliminary part of the report and you will need to use the file Report Template 1 for the body of the report.
The point of an executive summary is to summarize the main points of the report. The executive summary is always on a separate page. Keep your points concise and give an overview of the entire report.
You may need to use dot points or numbered points to summarise the key elements of the report. Remain in Body Text No Indent and choose the number or dot point list on the far right-hand side of the tool bar for example:
*****¢ Point one
*****¢ Point two
*****¢ Point three
Notice that when you place the curser on the points that the Style box changes to Normal. This happens automatically when you use the number or dot point lists. Ensure that you return to Body Text No Indent setting in the Styles box when you are finished the list.
TITLE: SUBTITLE
1. Introduction
Begin your text here. If you place your curser over this text you will notice that the Style box on the toolbar will change to Body Text No Indent automatically. If you place the curser back on the title you will notice the Style box will change to Title. Type over these paragraphs to keep these settings and keep your assignment in a consistent style. Using templates will save you time and ensure that you have all the correct formatting for the report. This file is only for the main part of report you will need to use the file NGSB Report Template Preliminary Parts 1 for the beginning section of the report.
If you wish to make dot points or numbered points remain in Body Text No Indent and choose the number or dot point list on the far right-hand side of the tool bar for example:
*****¢ Point one
*****¢ Point two
*****¢ Point three
Notice when you place the curser on the listed points that the Style box changes to Normal. This happens automatically when you use the number or dot point lists. Ensure that you return to Body Text No Indent setting in the Styles box when you have finished the list.
Short quotes that are under three lines long are integrated into the text and enclosed in quotation marks *****¦.***** (Author*****s surname, year, page no.).
Quotes longer than three lines long are to be single spaced and indented for their entire length. When typing long quotes into the text the Styles box on the toolbar should be set on Extract (Prose). Avoid over quoting and remember to reference all quotes (Author*****s surname, year, page no.).
2. Figures and Tables
If there are few figures and tables, then place them into the text. Attempt to place the figures and tables immediately after or as close as possible to when they have been mentioned in the text. All figures must be numbered consecutively and referred to in the text by number, for example, figure 1 or table 3. If there are extensive graphics then place them in an appendix located before the reference list.
Figure number
Figure Caption
By applying the predefined styles form this template to the different parts of your text will assist you in keeping the style consistent. You will notice the Styles box on the tool bar changing as you place the curser of the title, headings, the paragraphs, the figure number, the figure caption and the reference list.
Continue with the paragraphs using the template. It is best to leave a copy of the template at the end of your document. If you copy and paste the appropriate paragraphs i.e. the paragraph with the long quote, the graphic, the paragraphs or the reference list, and type over it you may find it easier than manipulating the Styles box.
Ensure that all quotes, paraphrases and the summary are referenced using the Harvard system and that all references cited in the text (Surname, year, page no) have a full reference in the Reference list.
Number all section and subsections, with the exception of the reference list. This makes the layout clear and ensures that the page numbers correlate with the table of contents.
3. Appendices
Place the appendixes on separate pages. If you have many graphics then place them in an appendix so that the flow of your report is not continually broken up by the graphics. To place the graphic here use the same system as for the text. Reference all sources of information used to construct the graphics.
Reference list
Place the reference list on a separate page.
Surname, initial. (year) title of book in italics, publisher, city of publication.
Surname, initial. and surname, initial (year) title of book in italics, publisher, city of publication.
Surname, initial. (year) title of article, title of journal in italics, Volume. Number of issue, pages.
Surname, initial. (Ed.) (year) title of edited book in italics, publisher, city of publication.
Surname, initial. (year) title of paper, In conference name, (Ed, name of editor) publisher, conference location, pages.
Surname, initial. (year) title of article, In name of newspaper, publisher, date, city, pages.
Surname, initial. (year created), title of website in italics, access date, website.
Surname, initial. (year) title of thesis in italics, academic department, university, city.]
Surname, initial. (year) title of material presented, name of conference, meeting or seminar in italics, location of conference, meeting of seminar, date held.
Surname, initial or name of department if author not mentioned, (year) title of report in italics, institution if not all not already named, Volume. Number of issue, publisher, city of publication
PLEASE .THANK YOU VERY MUCH.
FULL HARVARD STYLE REFERENCING MUST BE FULLY PROVIDED. PLEASE .THANK YOU VERY MUCH.
IN-TEXT HARVARD REFERENCING MUST BE 100% FULLY PROVIDED. PLEASE .THANK YOU VERY MUCH.
BIBLIOGRAPHY MUST BE FULLY PROVIDED IN HARVARD REFERENCING STYLE.PLEASE .THANK YOU VERY MUCH.
Referencing must be EXTENSIVE and MUST STRICTLY mainly articles from recognized and refereed scholarly journals.PLEASE .THANK YOU VERY MUCH.
STRICTLY NO PLAGARISM OTHERWISE THIS ORDER DELIVERY WILL NOT BE ACCEPTED AND WILL NOT BE PAID.PLEASE .THANK YOU VERY MUCH.
DUE DATE FOR THIS ORDER IS WED 21 JULY 2010 AT 11PM . LATE ORDER DELIVERY WILL NOT BE ACCEPTED. PLEASE .THANK YOU VERY MUCH.
LATE DELIVERY OF THIS ORDER WILL NOT BE PAID. PLEASE .THANK YOU VERY MUCH.
THERE IS TO BE NO LATE DELIVERY. PLEASE .THANK YOU VERY MUCH.
PLEASE .THANK YOU VERY MUCH.
EMAIL RESOURCES FILE WILL BE SENT TO YOU VIA EMAIL TO *****.
REPORT.
WORD COUNT: MINIMUM 4800 WORDS.
*****
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