One need only look at the news to be bombarded with examples of corporate malfeasance and the impact such behavior has on a company’s public image, customers, employees, and bottom line. And while these stories grab the headlines, some companies are adopting practices that display awareness of their impact on the globe, whether that be to the environment, its employees and suppliers, or communities in which they do business. What factors are leading to these decisions? What are the benefits and costs of making ethical business decisions and acting in a socially responsible way, however one defines it? Issues in Business Ethics and Corporate Social Responsibility explores these foundational themes across a wide range of topics, including artificial intelligence, workplace surveillance, supply chain management, big data, the finance industry, and many more. Coupled with a broad introduction by Dr. David Weitzner, a professor of management at York University, this book provides students with the essential information they need to assess business practices through the lens of ethical decision-making and corporate social responsibility.
Chapter 5: Corporate Social Responsibility: Are top-profile issues good for the bottom line?
Corporate Social Responsibility: Are top-profile issues good for the bottom line?
Corporations have traditionally avoided political and social controversies, on the theory that wading in would interfere with their primary mission of maximizing profit. No longer. Many executives are concluding that taking a stand on some issues, far from conflicting with the bottom line, has become essential to protecting the brand and balance sheet. These companies have found that their customers have expectations in this area—and are quick to express dissatisfaction on social media when those expectations are not met. This trend is accentuated by the ...