REFINING THE ROLE OF THE CORPORATION: THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON SHAREHOLDER PRIMACY THEORY

2005 ◽  
Vol 10 (2) ◽  
pp. 572 ◽  
Author(s):  
HUGH ALEXANDER GROSSMAN
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Corporate Culture ◽  
Business Success ◽  
Special Interest Groups ◽  
Shareholder Primacy ◽  
Modern Business ◽  
Corporate Social ◽  
The Impact

<div class="page" title="Page 1"><div class="layoutArea"><div class="column"><p><span>[</span><span>Evidence indicates that we may be witnessing a redefinition of traditional theories of the role of the corporation. Traditional shareholder primacy theory contends that a corporation is primarily responsible to its share- holders to maximise wealth, consequently social factors should not inter- fere in a corporation’s business operations. In the modern business setting however, a company’s core objective of profit maximisation must be un- derpinned by a proactive approach to corporate social responsibility in order to manage and mitigate a broader array of risk factors. Managing risk via community engagement and the implementation of socially re- sponsible strategies is increasingly linked to business success and stake- holder confidence. Intangibles such as trust, ethics, corporate culture, employee satisfaction, environmental behaviour and community responsi- bility are increasingly relevant to consumers, business partners, govern- ments, special interest groups, existing and potential employees and investors</span><span>.] </span></p></div></div></div>

scholarly journals THE ROLE OF PUBLIC RELATIONS IN PROCESS OF IMPROVEMENT OF CORPORATE SOCIAL RESPONSIBILITY

2017 ◽  
Vol 44 (2) ◽  
pp. 19
Author(s):  
Ružica Đervida Lekanić ◽  
Cariša Bešić ◽  
Snežana Bešić
Keyword(s):  
Corporate Social Responsibility ◽  
Public Relations ◽  
Social Responsibility ◽  
Global Market ◽  
Business Excellence ◽  
Modern Business ◽  
World Class ◽  
Corporate Social ◽  
Marketing Methods

The main objective of modern business is achievement of business excellence and world - class of products and services. Companies which actively and continuously apply modern management methods and techniques, special in marketing, have significantly better chance to strengthen their competitive capability on global market and to assume stable market position with perspective for further marke t development. Modern business philosophy implies that organization has to be responsible for its actions and steps and towards all stakeholders in environment. Attaining of business excellence goals of an organization presupposes built corporate social responsibility. In order for domestic companies to become competitive internationally, it is necessary to change the way of thinking and to adopt modern marketing methods and marketing communications, in the field of organizational management

Responding to Social Responsibilities and Ethics - A Study of Refractory Industry in Odisha

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Saikat Gochhait
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Ethical Issues ◽  
Business Organizations ◽  
Ethical Practices ◽  
Secondary Sources ◽  
Modern Business ◽  
Industrial Markets ◽  
Corporate Social ◽  
Profit Maximisation

Businesses work in a wide social environment in which they have a responsibility to a range of stakeholders including the community. The term Corporate Social Responsibility (CSR) refers to the responsibility that modern business organizations have to creating a healthy and prosperous society. Ethical practices in refractory marketing help marketers distinguish between right and wrong behavior. Adherence to ethics is essential in industrial markets as mutual trust among buyers and sellers is the key to long-term success. Marketing has evolved from a production-centric approach to a societal marketing approach that lays greater emphasis on the ethical issues in marketing. With the advent of globalization, corporations continue to evolve, grow in power, and influence the process of consolidation. Corporations are in positions of power that allow them to do greater damage to others when they act unethically or socially in an irresponsible manner. The rights theory encompasses a variety of ethical philosophies holding that certain human rights are fundamental and must be respected by other humans. The economic theories of the firm cannot be segregated of ethical considerations as they have crucial impact on how the firm concentrates on economic power, formulate the rules of law. Profit maximisation has always been the driving force and an undercurrent behind the development of corporate. But profit is not made in vacuum, it always has an associated cost, some of which is always externalized (Rhee, 2008). Corporate law has an ethical foundation and the debate on values necessarily revolves round the activities of the firm. This research paper on the basis of secondary sources of data collected from reports, research papers and Internet, focuses on corporate social responsibility (CSR) of TATA Group with reference to Tata Krosaki Refractories Ltd, Bajoria Group with reference to IFGL Refractories Ltd (Odisha), OCL Refractories Ltd, Sarvesh Refractories, and Manishree Refractories (Odisha). The study intends to understand the scope of corporate social responsibility and get an insight in CSR and ethical practices in the light of the case study of the refractory industries in Odisha.

The Ethics of Petroleum

2017 ◽  
Author(s):  
Jonathon W. Moses ◽  
Bjørn Letnes
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Host Country ◽  
Corporate Citizenship ◽  
Costs And Benefits ◽  
Political Actors ◽  
Oil Companies ◽  
Corporate Social ◽  
Oil Company

This chapter considers the role of international oil companies (IOCs) as global political actors with significant economic and political power. In doing so, we weigh the ethical costs and benefits for individuals, companies, and states alike. Using the concepts of “corporate social responsibility” (CSR) and “corporate citizenship” as points of departure, we consider the extent to which international oil companies have social and political responsibilities in the countries where they operate and what the host country can do to encourage this sort of behavior. We examine the nature of anticorruption legislation in several of the sending countries (including Norway), and look closely at how the Norwegian national oil company (NOC), Statoil, has navigated these ethical waters.

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