Please write a 100 word peer response for Answer 1 and another 100 word peer response for Answer 2

I’m stuck on a Business question and need an explanation.

Answer 1

Potential Conflict between Corporate Social Responsibility and Ethics

Corporate social responsibility refers to an organization’s activities aimed at increasing the loyalty of the organization. There are many positive outcomes in a business organization that is caused by ethical behavior as well as corporate social responsibility. Therefore, any business organization has a social and also moral responsibility for developing values for its employees and other stakeholders (Ferrell et al., 2019).

These organizations are also committed to manufacturing products that are of higher quality and of less cost as well as offer better services to clients to ensure continuity of the existence of the business for a longer time. Failure to show corporate social responsibility and acquisition of unethical behavior by an organization leads to the downscaling of the organization since it destroys its name and image hence becoming less attractive to the Client. Business ethics entails morals and standards which shape the character in business. At the same time, corporate social responsibility enhances responsible actions within an organization as well as the goals and wants of the employees.

Ethical behavior has several impacts on a business organization, such as enhancing the buildup of a client’s loyalty, facilitating the existence of a positive and peaceful working environment. It also helps to avoid various legal problems (Vitell, 2015).

References

Ferrell, O. C., Harrison, D. E., Ferrell, L., & Hair, J. F. (2019). Business ethics, corporate social responsibility, and brand attitudes: An exploratory study. Journal of Business Research, 95, 491-501.

Vitell, S. J. (2015). A case for consumer social responsibility (CSR): Including a selected review of consumer ethics/social responsibility research. Journal of Business Ethics, 130(4), 767-774.

—————————————————————————————————————————————-

Answer 2

Conflicts Between Corporate Social Responsibility

Corporate social responsibility refers to a management concept of international private business regulation concerned with the social goals of activists or charitable nature by engaging in or supporting ethically-oriented practices. The commercial objectives in existence help to maximize the possible profits for the shareholders. However, corporate social responsibility affects the company’s wealth maximization ability (Barnea & Rubin, 2006). The CRS usually complicates the shareholders’ goal of wealth maximization in that the company should always create a good reputation for the quality production of goods and services. It also includes attracting better employee applicants and improving access to financial markets.

Therefore, managing the company’s reputation should be guided by the shareholders’ goal. Thus the corporation should adopt strategies and events such as charitable foundations, which can boost the firm’s reputation (Adda, Azigwe, & Awuni, 2016). On the other hand, ethical decisions are necessary for wealth maximization as dissatisfied customers lead to a reduction in sales, profits, and cash flows, which reduces the shareholders’ wealth.

Exercising Christian principles can be crucial in running a successful business as they are the most utmost way to bring into balance the two concepts in contradiction. As the Bible suggests, the firm should give the government what belongs to them and provide the fellow humans what they deserve. As both contribute to the business’s growth directly or indirectly, they deserve to earn the company’s profits.

References

Adda, G., Azigwe, J., & Awuni, A. (2016, December). Business Ethics and Corporate Social Responsibility for Business Success and Growth. European Journal of Business and Innovation Research, 4(6), 26-42.

Barnea, A., & Rubin, A. (2006, January). Corporate Social Responsibility as a Conflict Between Shareholders. Journal of Business Ethics, 97(1), 71-86.