Assignment final.docx - Assignment 2 ACCT19083 u2013...

[Author name]
Location – Melbourne
Assignment 2
ACCT19083 – Corporate
Governance and Ethics
Student Name: Thotage Bhakthi Nataliya Fernando
Student ID: 12081743

Corporate Governance and Ethics – Assignment 2
TABLE OF CONTENT
EXECUTIVE SUMMARY……………………………………………………………………………………………………….2
INTRODUCTION………………………………………………………………………………………………………………...3
LITERATURE REVIEW
NARROW VIEW OF CORPORATE SOCIAL RESPONSIBILITY…………………………………………4
BROADER VIEW OF CORPORATE SOCIAL RESPONSIBILITY…………………………… ............. 5
COMPARING NARROW AND BROADER VIEWS OF CORPORATE SOCIAL RESPONSIBILITY……6
RESPONSE ON STATEMENT BY TONY ABBOTT……………………………………………………………………7
CONCLUSION……………………………………………………………………………………………………………… ...... 9
REFERENCES…………………………………………………………………………………………………………………….10
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Corporate Governance and Ethics – Assignment 2
EXECUTIVE SUMMARY
The report below is emphasising on the contrast lying between the narrow and broad views of
corporate social responsibility. The fine line existing between corporate social responsibility
and virtue signalling is explained. The viewpoint of Australia’s former Prime Minister Tony
Abbott is analysed. The primary section of the report describes the different views of
corporate social responsibility. The approaches are enlightened on the basis of the focus area
of both the views. The statement made by Tony Abbott is supported in the final sections of
report. The reasons of the same are also mentioned and corporate governance and ethics have
also been analysed in effective manner.
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Corporate Governance and Ethics – Assignment 2
INTRODUCTION
The corporate social responsibility is a model concerns the social and environmental results
that influence of their business related to their corporation’s financial and economic
responsibilities, act in accordance with relevant regular international standards and laws,
follow up about shareholder’s potentials and combined throughout the business along with
practice of its associations in the corporation (Shaw et al., 2016). The corporate social
responsibility concept shows the importance of social and environmental consequences rather
than focusing on corporate financial policies to increase the profit and shareholder value in
the business.
Organization is associated with the complex set of actions and activities which are
implemented to achieve the objectives and goals in determined approach. Every organisation
works as a part of the society. Each and every organization needs to establish the relation
between the economic and social benefits with the organization development. The society
provides the entity with all the resources that it require and face all the negative impacts laid
by business houses. As a return, the business is also required to encourage those activities that
benefit the society. Corporate social responsibility (CSR) deals with this obligation of the
organisations. As per CSR, the organisations are required to manage business in an
environment friendly and sustainable manner. Along with the society, activities related to the
welfare of the employees and their families also form a part of CSR. It is the responsibility of