Business Editorial Presenting Your Position On A Timely Business Issue

Business organizations work in a highly dynamic environment with many variables that impact their operations. The causes vary from political, socio-cultural, technical, and economic problems. Due to these variables, companies tend to meet certain expectations from the government, investors, shareholders, and consumers or customers, which affect the company’s nature and profitability. Some comprise unwanted products, ecological protection, sustainability, and air contaminants from manufacturing and processing companies. Thus, the paper emphasizes company social accountability as one of the contemporary business problems. Although the issue may be drawn back to the early 90s, it remains a controversial subject in the contemporary commercial setting with people who have contradictory ideas, perspectives, and thoughts on the role of business administrations in the environment at work. The information below may also affect firms involved in manufacturing and processing tobacco.

Corporate social responsibility is a corporate effort to evaluate and is responsible for a business’s environmental and social well-being impacts. It is a type of self-regulation of enterprises incorporated in a business model since it demands efforts by companies that go beyond what environmental protection organizations or authorities may require (Epstein, 1987). The policy functions as a self-governing system through which a group monitors and guarantees its active conformity with the essence of the legislation, state or global standards, and moral philosophies or norms. It is important in today’s corporate climate as a self-regulatory mechanism because some large corporations have chosen not to take social responsibility. The subject includes environmental preservation, ethical working methods; changing societal expectations; and the declining role of the government.

Common awareness is now essential to businesses participating in ecologically friendly operations. Business enterprises must combine their ambition to make more profit by adopting a sustainable business method (Windsor, 2006). Some areas include pollution from chemicals, water, air, and atomic discharges. It is known that many unwanted products, oil, and additional chemical waste and pollutants arise from the functioning of businesses. Its mission is to counter such consequences as part of its aim. It is a problem that firms should investigate alternative energy production, do environmental cost-benefit analyses, and have a social responsibility both to their partners and the public (Sen, 2006). Also, firms producing and processing tobacco should be cautious of some waste products. Companies, irrespective of their size, have a significant carbon impact. Therefore, any move towards minimizing footprints is not only beneficial for society but also for business.

Ethical work practices include fair and ethical treatment of workers. There are additional labor regulations concerning employment discrimination, minimum earnings or pay, protection of workers, and safety at work. Companies may also be accountable via compliance with these laws and regulations (Windsor, 2006). This is particularly essential for multinational companies operating worldwide with labor rules that vary from local legislation. Another foundation of corporate social responsibility is volunteering. By conducting helpful programs, companies can show their concern for particular problems and public support without waiting for anything in return. Companies also exercise social responsibility by giving to national and local organizations (Wheeler, 2003). For example, organizations must donate workers, money, and other resources to assist the community in crises such as an accident.

Societal expectations have changed throughout time. Today, customers, and the overall public, demand more from corporations producing and manufacturing the goods and amenities they buy. It was expected because corporate scandals partly undermined public confidence and reduced the belief that companies and regulatory authorities can regulate unchecked behavior. Government tends to have limited resources; thus, the company can preserve the setting (Snider, 2003). Although most of the public, comprising investors and stockholders, approve that a business is communally accountable, others believe it is not the duty of companies to engage in actions that do not enhance companies’ capital. They base their dispute on the fundamental objectives of business organizations to maximize incomes and stockholder wealth to decrease the organization’s profits by engaging in other activities such as voluntary programs (Sen, 2006). To refute this argument, businesses need to be socially accountable to the environment since it is the company that supplies them. Business exists because resources, including human labor, are available to support the manufacturing process. It is also individuals who advertise the goods and services of the company.

Unprotecting the environment creates questions of sustainability. The business cannot exist in the future because of a lack of resources and customers.

In conclusion, business social accountability is a broad range of inventions and technical developments, particularly in today’s society. Social responsibility is not confined to environmental preservation, voluntary work, or other issues in this article. Various premises depend on where the company works, the type of its operations and procedures, and the product or service provided. The management must thus incorporate various means in their tactical plan to ensure ecological sustainability and profit the community in many ways other than the products or facilities provided to them.

References

Epsteins, E. M. (1987). The corporate social policy process: Beyond business ethics, corporate social responsibility, and corporate social responsiveness. California management review, 29(3), 99-114.

Sen, S. (2006). The role of corporate social responsibility in strengthening multiple stakeholder relationships: A field experiment. Journal of the Academy of Marketing Science, 34(2), 158-166.

Snider, J., Hill, R. P., & Martin, D. (2003). Corporate social responsibility in the 21st century: A view from the world’s most successful firms. Journal of Business Ethics, 48(2), 175- 187.

Windsor, D. (2006). Corporate social responsibility: Three key approaches. Journal of management studies, 43(1), 93-114.

Wheeler, D., Colbert, B., & Freeman, R. E. (2003). Focusing on value: Reconciling corporate social responsibility, sustainability and a stakeholder approach in a networked world.

Journal of general management, 28(3), 1-28.

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Question

Prompt

Develop a business editorial that presents your position on a timely business issue. Support your position with credible references on your topic of interest.