Assess the corporate social responsibility issues

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Reference no: EM133335754

Case Study: Nowadays, profit oriented businesses should be considerate of all stakeholders, rather than simply concentrating on profit maximization. Corporate Social Responsibility is a corner stone of modern businesses, and it cannot be ignored, so it is important to complete all work according to relevant and accepted business ethics and within the scope of corporate responsibility. This week you will analyze a situation, and comment whether the business adhered to the Corporate Social Responsibility principles.ORE group has a manufacturing plant in Sparta, ON. Sparta, ON community is highly dependent on ORE group manufacturing plant, since 50% of its residents are employed by ORE group. ORE group has a good reputation in the community, and everybody buys their products in the community.Last year ORE group faced intense competition from foreign manufacturers, the competition affected the company's bottom line. At the shareholders, annual general meeting the board of directors was questioned, and dissatisfied shareholders raised their concern about the profitability issue. The board of directors agreed to take proactive steps in order to increase profits and improve the financial position.Shortly after the annual general meeting, the company started shedding local assets and moving manufacturing operations abroad. The company also closed its manufacturing facilities in Sparta, ON, which caused significant economic damage to the local community. The local community was forced to foreclose homes, and move away from Sparta, ON. Sparta, ON citizens are attracting journalists to show the damage that was caused by the company.You are in charge of ORE group corporate social responsibility. You receive a report on the situation, and you decide to do the following:

Questions:

Assess the ethical issues in this case.
Assess the corporate social responsibility issues in this case.
Suggest the best action plan to be in-line with the corporate social responsibility standards, and the ethical standards.
(Note: the plant in Sparta, ON accounted for 0.9% of the company's total costs)

Reference no: EM133335754

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