CONTEMPORARY MANAGEMENT ISSUES

Contemporary Management Issues

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Introduction1

Profile of the case1

Supply Side Issues2

Demand Side Issues2

Task 1: Critical Assessment of the various theories governing corporate social responsibility and its application4

Business Ethics theories4

1.Egoism4

2.Virtue Ethics4

3.Utilitarianism4

4.Care Ethics4

5.Deontology5

Four part model of CSR and related theories5

1.Economic Responsibility6

2.Legal Responsibility6

3.Ethical Responsibility6

4.Discretionary/Philanthropic Responsibility6

Application to given case6

Task 2: Critical Evaluation of the impact of corporate social responsibility to the demand and supply of water7

Conclusion8

REFERENCES9

Contemporary Management Issues

Introduction

Corporate social responsibility refers to the responsible behaviour and activities/initiatives of a business towards the society, mainly shown in terms of care and accountability for the social impact of various business activities (Hawkins, 2006). Businesses tend to regulate their activities to ensure that they comply with the prevalent laws, do not breach ethical code of conduct(s), and legal scales. However, some businesses tend to step ahead by making a “social difference” in the society they live in, such as contributing towards social welfare. Corporate Social Responsibility acts as the primary tool for corporations through which they hold every the firm responsible for projecting a healthy social image, beginning with its primary and secondary stakeholders, and moving on to the society at large.

Business ethics refers to the compliance of various business practices, policies, procedures, etc with an established set of ethical standards (Ferrell & Fraedrich, 2012). Ethical issues arise in every aspect of business, and on all levels, from the minute, employee/individual-level to the grand/firm-level. The main emphasis is on moral and conscientious values. One of the major ethical issues concerning various companies, both large and small, is the issue of breach of ethics that occurs in the quest to make larger profits. The development of the field took place majorly in the 1980s and 1990s, when a number of large companies sprung up and they did not have a socially responsible behaviour (Anonymous, 2009). Although many policies and corporate practices are defined by government through various corporate and trading laws, business ethics attempts to regulate the area which falls beyond the limits of governmental control.

Profile of the case

The presented case gave a brief discussion of the various ethical issues that arise from the management of global resources of water that has, in recent years, fallen into the hands of corporations. The management of water and the related issues had been reviewed from both the demand as well as the supply side. Several critical issues were presented on both the sides. Examples of practices of two major companies had been cited within the case, Thames Water (in the discussion concerning water supply) and Coca-Cola (in the discussion concerning the demand and usage of water resources).

Supply Side Issues

On the supply side, the major problem that was discussed was of the several problems that arise from the privatization of water resource management and supply. The problem was noted in several regions of the world.

The first identified problem was that the main reason for private countries to enter into this industry was to practice the full cost recovery method. This practice was carried out in South Africa and many people died of ...