corporate-social-responsibility, Study notes of Corporate Governence

Download corporate-social-responsibility and more Study notes Corporate Governence in PDF only on Docsity! Why Corporate Social Responsibilities are Important Corporate Social Responsibility is a model that enables organizations to socially be accountable to the public, stakeholders as well as to itself. Companies are in the position to realize the kind of influence and impacts it has on society by practicing corporate social responsibility (Joshi, 2017). Corporate Social Responsibility can bring impacts to many areas in the society including environmental sectors, social and economic sectors. Corporate Social Responsibility plays many roles in the development of companies and organizations. To begin with, CSR is responsible for sourcing suppliers and materials as well as managing and protecting the environment. Besides, CSR acts as a measure for anti-corruption as well as playing the role of ensuring human rights are maintained (McQueen, 2015). Overview of Paradigm Toy Company Paradigm Toys is composed of two primary and secondary stakeholders. The primary stakeholders include the employees and the owners who are the roots of the success of the company (Joshi, 2017). The owners work hand in hand with the employees to ensure that the best quality of toys is produced. The primary stakeholders work toward customer satisfaction and profit maximization of the company. Additionally, Paradigm Toys is composed of two secondary stakeholders who are the community and the media forming their surroundings near the factory. The secondary types of stakeholders are important to the success of the company in that they can help the company via their direct and indirect interests. Being stakeholders of the company, Paradigm Toys management must care for them by attending to their needs. Organizations that work hand in hand with the secondary stakeholders creates a room for expansion as well as creating cooperation and goodwill. Paradigm Toys Company must ensure that any action taken to both primary and secondary stakeholders affect the organization both positively and negatively (Joshi, 2017). Board of directors in Paradigm Toys Company and Corporate Social Responsibility The board of directors in Paradigm Toys Company must meet their Corporate Social Responsibility to both primary and secondary stakeholders by being proactive in all its approaches putting into consideration the different roles played by each group in the company. Both primary and secondary stakeholders must express their confidence to the company by believing the organization's actions with integrity and honesty that affects the society positively (Perry, Bussey & Fischer, 1980). cases, most of the reporting that is conducted concentrates on financial information or data that is used in decision making. For Paradigm Toy Company to come with an ethical profile, the company should consolidate all the feature that interferes with its reputation by putting into consideration the techniques it has been using to carry out its business. With the already gathered information, the organization can make its values clear, coming up with strategies of solving problems as well as learning new methodologies and employee’s motivation (Perry, Bussey & Fischer, 1980). The ethical dilemma in organization The ethical dilemma comes within a company. For instance, the finance manager showing more concern to some employees than others. This creates favoritism which can lead to some employees getting pay increases and promotions. This act may lead to a lack of trust in the company hence creating a dilemma. Two main solutions can be used to solve this kind of dilemma. The first strategy for solving this dilemma is by coming up with some ethics for the company. The ethical issues must be backed up by the rest of the leaders in the organization including the CEOs. The CEOs should also advise the finance manage on his unethical behaviors as well as exposing him to the consequences of his actions (Monga, 2007). The second way to deal with the dilemma is to demote the finance manager by following the voting process. I prefer the first option of solving the dilemma because terminating the finance manager is not ethical in that it will affect his life, family and any other individual depending on him for survival. Main components of ethical training program The three main components of the training program for the company would compose of; making a short and summarized presentation of ethical codes. The second component would involve giving scenario-based discussions and examples. Lastly, writing a confidential report on the progress of the training program would be the last element I would include in my work. The main reason behind choosing the three components in the training program is: The first element exposes the workers to the codes of ethics. Every employee would be issued with an ethical policy program (Joshi, 2017) to study it and confirm whether they have understood it. The section will create an opportunity for employees to ask any burning questions as clarifications will be made. The reason for choosing the second component is that the presenter would offer multiple challenges which the employees would face for the time they shall be in employment. Lastly, the reporting sector was chosen to act as a verification of the training program (Monga, 2007). Conclusion Face to face mean of delivery is the most effective method for conducting a training program. Many learners prefer using face to means of delivery because it enhances faster learning and understanding of things. Naturally, human beings are social beings and prefer connectedness and interaction with other human beings. Face to face means of delivering a training program enhances immediate feedback and firsthand information (Monga, 2007). Face to face means of delivering a program is ethical because the trainer can know whether the audience is understanding the message being passed to them. Every organization should exercise face to face means of delivering any information because it enhances a better understanding of the phenomenon. References