Corporate social responsibility is considered to be a major factor which is helpful in maintaining the sustainable operations of different organizations. The sustainability and long term based operations of the organizations are thereby based on the ways by which corporate social responsibility based activities that are performed by them. The major views based on corporate social responsibility mainly include, broad view and narrow view. The reflective journal will be based on the analysis of the two views which are able to affect the modern organizations Alonso?(Almeida et al., 2015).
I have learned about the narrow view based on corporate social responsibility which has been suggested by Friedman. The purpose that is related to the existence of business is based on the ways by which services and products can be distributed to the society for the purpose of developing effective economic value in the industry. I have further been able to understand that the managers have the ability to maximise the levels of revenue for shareholders (Charles Jr, Schmidheiny & Watts, 2017). The theory has been able provided me with an understanding that the main aim of management increase profitability. The activities based on corporate social responsibility are considered to be secondary for the modern organizations. The major modern companies which have been following the narrow include, Ford Motor, Walmart, Microsoft, Nestle. I have analysed that these organizations have been not been able to maintain the corporate social responsibility based activities in an efficient manner (Cheng, Ioannou & Serafeim, 2014).
I have also learned about the socio-economic view of corporate social responsibility which states that the modern organizations can be considered to be a major part of the large society. The responsibilities based on CSR are not restricted to the effective maximisation of the profits. The organizations in this case also tend to be responsible for maintain the responsibilities which they have towards the community and the society as well. The long term based sustainability of a modern organization is totally based on the ways by which it is able to operate in the industry and also maintain its position (Grayson & Hodges, 2017).
I have analysed the recent trends that are based on the narrow view and broad view of organizational operations. The activities of organizations which implement the narrow view have been affected by changes that have taken place in the external environment. The social responsibilities are provided with utmost levels of importance in the modern operating environment in the industry. The application of narrow view of corporate social responsibility has started reducing in the last few years. The organizations also need to increase the activities that are based on the social responsibilities. Broad view or the socio-economic view has also become highly important in the modern and competitive operating environment (Korschun, Bhattacharya & Swain, 2014).
The organizations need to improve the corporate social responsibility based activities in order to maintain the operations in a sustainable manner. The different levels of analysis which have been made based on the two major views of corporate social responsibility are related to the importance of responsibilities which they have in while operating in a country. The modern organizations have the major responsibility of fulfilling the needs and demands of people who are a part of the community. The broad view based on corporate social responsibility is considered to be highly useful for the ways by which modern organizations can operate profitably (Lawrence & Weber, 2014).
The reputation of an organization in the industry is also based entirely on the ways by which it is able to fulfil the responsibilities bases on its operations in the society. The modern organizations which are have been successful in corporate social responsibility related activities include, Unilever, Google. The organizations have been able to develop their positions in the industry with the help of its responsibilities towards the community. The revenues and profitability of the organizations have also been affected in a positive manner with the help of its activities related to CSR in the industry (Ni & Van Wart, 2015).
Conclusion
I have been able to conclude from analysis that corporate social responsibility is considered to be highly important for the effective operations of the modern organizations. The broad view of CSR has been able to play a key role in the ways by which organizations have fulfilled their responsibilities effectively. The operations of organizations only for the purpose of earning revenues and profits are no longer considered to be effective. The organizations have started operating in the industry by keeping in mind the effects which its processes can have on the society.
The business based activities of different organizations are considered to be effective if they are able to operate in a profitable manner by following certain ethics. The ethics of business are considered to be highly important in the modern environment and industry. The organizations thereby need to operate in such a manner which is based on the ethical considerations. Business ethics are considered to be important for the effective operations of the organizations. The modern organizations have considered ethics to be much more important as compared to the previous organizations. The analysis in this reflective journal will be based on the ways by which business ethics are related with each other. The importance of ethics in the current business environment is the most important of the analysis (Saeidi et al., 2015).
The concepts based on ethical business and profitable business have been considered to be opposites. The most important part of the concept is that an organization which aims at gaining profits may not give importance to the ethical activities. However, keeping in mind the changes which have taken place in the modern business environment, the organizations which are making profits may not be unethical in nature. The business organizations which operate in an ethical way have been able to fulfil the social responsibilities in an effective manner. The analysis which has been recently made based on the ethical operations of business organizations have stated that it is unethical for an organization to not make profits in its operations. The organizations need to make profits in order to pay back the creditors and provide the stakeholders with their share in the revenues (Schaltegger & Burritt, 2018). The organizations have huge levels of responsibilities towards the shareholders and the consumers. The business ethics based considerations thereby compel the organizations to make profits in the industry. The most important ethical obligation for the organizations is to gain profits and fulfil the expectations of the customers and shareholders who are considered to be most important in the operations.
I have been able to understand that ethics are not contradictory to the profitable operations of the modern business organizations. The activities related to effective implementation of ethics have been able to play a major role in the ways by which organizations are able to develop their positions and maintain their reputation as well. The gaining of profitability is also considered to be important for the effective operations of different business organizations in the industry. The operations of modern organizations are highly dependent on the ways by which they are able to fulfil their responsibilities towards the customers and the stakeholders. The commitments which are made by the organizations based on welfare of the employees and the community in which they operate (Tai & Chuang, 2014).
The needs of the businesses need to be ethical for the welfare of the organization and its operations as a whole. The unethical steps and decisions taken by organizations cannot help them to sustain the industry for a longer time period. The businesses have many responsibilities towards the society and community in which they can operate. The sustainability of business operations is thereby based on the ways by which it is able to maintain the profitability levels. The business organizations and their operations are able to provide effective levels of contribution to the economy of the country. The responsibility of business organizations as the corporate citizens of the country is considered to be highly important. I have been able to gain knowledge based on the operations of modern business organizations with respect to the ethics (Wood et al., 2015). The knowledge has provided me with the understanding that the organizations need to consider ethics in order to operate profitably and fulfilling different responsibilities.
Conclusion
The reflective analysis can be concluded by stating that ethics and profitability in the business operations of modern organizations go hand in hand. The organizations are able to operate effectively in the industry with the help of proper implementation of ethics in different activities. Ethics are considered to be important for the operations of modern companies in the competitive business environment.
References
Alonso?Almeida, M. D. M., Fernández de Navarrete, F. C., & Rodriguez?Pomeda, J. (2015). Corporate social responsibility perception in business students as future managers: a multifactorial analysis. Business Ethics: A European Review, 24(1), 1-17.
Charles Jr, O. H., Schmidheiny, S., & Watts, P. (2017). Walking the talk: The business case for sustainable development. Routledge.
Cheng, B., Ioannou, I. & Serafeim, G. (2014). Corporate social responsibility and access to finance. Strategic management journal, 35(1), pp.1-23.
Grayson, D., & Hodges, A. (2017). Corporate social opportunity!: Seven steps to make corporate social responsibility work for your business. Routledge.
Korschun, D., Bhattacharya, C. B., & Swain, S. D. (2014). Corporate social responsibility, customer orientation, and the job performance of frontline employees. Journal of Marketing, 78(3), 20-37.
Lawrence, A. T., & Weber, J. (2014). Business and society: Stakeholders, ethics, public policy. Tata McGraw-Hill Education.
Ni, A., & Van Wart, M. (2015). Corporate Social Responsibility: Doing Well and Doing Good. In Building Business-Government Relations (pp. 175-196). Routledge.
Saeidi, S. P., Sofian, S., Saeidi, P., Saeidi, S. P., & Saaeidi, S. A. (2015). How does corporate social responsibility contribute to firm financial performance? The mediating role of competitive advantage, reputation, and customer satisfaction. Journal of business research, 68(2), 341-350.
Schaltegger, S., & Burritt, R. (2018). Business cases and corporate engagement with sustainability: Differentiating ethical motivations. Journal of Business Ethics, 147(2), 241-259.
Schaltegger, S., & Wagner, M. (2017). Managing the business case for sustainability: The integration of social, environmental and economic performance. Routledge.
Tai, F. M., & Chuang, S. H. (2014). Corporate social responsibility. Ibusiness, 6(03), 117.
Wood, D. J., Logsdon, J. M., Lewellyn, P. G., & Davenport, K. S. (2015). Global Business Citizenship: A Transformative Framework for Ethics and Sustainable Capitalism: A Transformative Framework for Ethics and Sustainable Capitalism. Routledge.
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