Assignment final.docx - Assignment 2 ACCT19083 \u2013 Corporate Governance and Ethics Student Name Thotage Bhakthi Nataliya Fernando Student ID

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

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[Author name] Location – Melbourne Assignment 2 ACCT19083 – Corporate Governance and Ethics Student Name: Thotage Bhakthi Nataliya Fernando Student ID: 12081743
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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 1
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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. 2
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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
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