CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility

Corporate Social Responsibility

Introduction

Corporate social responsibility can be defined as the duty of organizations to conduct their business in a manner that respects the rights of individuals and promotes human welfare. While the level of social responsibility exhibited by multinational corporations is said to be improving, perfection has hardly been attained. This paper discusses how Corporate Social Responsibility can possibly work, when bribery and corruption are rife worldwide.

Discussion

Governments and people around the world seem to have an increasing interest in scrutinizing the actions of global corporations, in effect forcing international companies to be "good corporate citizens." One reason for this could be the realization that multinational companies (MNCs) are not as invincible as they were once thought to be; therefore, their policies can be influenced to benefit society. A second reason may be a realization that effective legal governance of companies whose activities stretch beyond national borders is impossible, leaving self governance as the only practical alternative.

Aim of CSR

Social responsibility in business has been debated for a long time, and several sides of the issue have been presented by ethicists. This debate has been extended in recent years to include the operations of MNCs. This article will summarize some of the changes in the attitudes and behaviors of MNCs and their perceptions of corporate social responsibility in light of the evolving nature and composition of global competition. After a brief discussion of some of the popular theories in ethics, the article reviews past recommendations for enhancing corporate social responsibility.

Due to a range of societal values, be they religious, philosophical, or cultural, a universally accepted code of ethical standards is difficult, if not impossible, to create. Even though certain ethical norms such as honesty, integrity, and loyalty are integral parts of most societies, the intensity of adherence to these norms can vary substantially from person to person across cultural boundaries. The ultimate result of these difficulties is no less than a highly complicated maze of international ethical norms, none of which appear similar in thought or meaning. Thus, any questions concerning business ethics in general, much less international business ethics, are becoming increasingly more difficult to deal with by multinational corporations.

Bribery

Bribery, a form of pecuniary corruption, is an act implying money or gift given that alters the behavior of the recipient. Bribery constitutes a crime and is defined by Black's Law Dictionary as the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in discharge of a public or legal duty. The bribe is the gift bestowed to influence the recipient's conduct. It may be any money, good, right in action, property, preferment, privilege, emolument, object of value, advantage, or merely a promise or undertaking to induce or influence the action, vote, or influence of a person in an official or public capacity.

Types of Corruption

Bribery

Bribery requires two participants: one to give the bribe, and one to take ...