o Elaine Sternberg alleged that there is a human rights case against CSR

O elaine sternberg alleged that there is a human

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o Elaine Sternberg alleged that there is a human rights case against CSR, implying that a stakeholder approach to management denies shareholders of property rights (Sternberg, 2009). PERIOD: 1980’s - Johnson & Johnson Tylenol recall; the company lost millions of dollars in the short-term, but customers continued to purchase its product and the company became profitable long-term 2001 - Malden Mills filed for bankruptcy and closed down due to cost of employee wages, lawsuits filed by injured employees, and the $100 million cost to rebuild the factory after it burned down in 1995. 2004 - Philip H. Mirvis & Bradley K. Googins developed a five-stage model of global corporate citizenship 2005 - Bobbi Stein served as Sr. VP of Global Responsibility and President of Gap Foundation, which she oversaw the company’s global community investments in women’s advances and jobs for the youth 2009 - Sodexo developed “The Better Tomorrow Plan” addressing 14 different issues, including the reduction of the firm’s carbon and water usage. PLACES: Africa is a developing country operating multinational companies that uses the co- regulatory approach as a method of regulation (mujih, 2008). United States businesses freely acknowledge their ethical and social obligations (Forte, 2013, p. 816) The European Commission presented the Green Paper, which laid the foundation for CSR in Europe CSR legal framework and its meaning for businesses operating in Australia, United Nations, the United States, France, and any country that operates multinational companies
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The Corporation Act 2001 - Australia 2008 UN Protect, Respect, and Remedy Framework and the UN Guiding principles - United Nations Fair Trade affect rights that fall into the scope of CSR PHRASES: Meaning “to pledge back” creating commitment to give back Europe typically use the term corporate sustainability to refer to corporate social responsibility CSR is known by different other names (Jain, Kumar Datta, & Roy, 2014, para. 1). Corporate responsibility Corporate citizenship Sustainable responsible business Corporate social performance Corporate social opportunity PICTURES: This image shows CSR impact on employee engagement and responsible citizenship (pi- slice.com, 2014). companies with engaging CSR activities have increased their pool of loyal clients in comparison to companies with lacking CSR initiatives”
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PROSPECTS: Arguments for CSR include (Lawrence & Weber, 2017, p.53-55) o Most people believe that CSR balances corporate power with responsibility o Voluntary socially responsible acts may discourage government regulation o Social initiatives by organizations promotes long-term profits for business o Many managers believe that developing a powerful social agenda and variety of social programs will improve the company’s stakeholder relationships o CSR enhances business reputation, which is an important element in establishing trust between a company and its stakeholders.
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