Reference no: EM132651794

Illustrate the rationale behind the need of introducing corporate social responsibility solutions in the business world.

Answer should be addressing

1. Illustrate the notion of corporate social responsibility and try to offer a general definition.

2. Explain that, although corporations are legal entities, it is opportune to consider them as entities having moral responsibilities to act in certain ways because of the fact that their actions generate consequences on people and our societies.

3. Explain that the general moral obligations of corporations stem from the relationship between them and the society, as well as from the implicit agreement between the two. In particular, discuss that, due to the fact corporations are the creatures of society and society grants them special benefits, it makes sense that we expect them to behave in an ethical way.

4. Illustrate the types of corporate moral obligations that derive from the system of free enterprise: obligation to "do no harm"; obligation not to undermine the freedom and the values of the system; obligation to be fair in commercial transactions; obligation to live up to the contracts into which one enters freely.

5. Illustrate the various types of responsibility corporations commonly have: responsibility to the shareholders; responsibility to the employees and workers; responsibility to their suppliers and competitors; responsibility to the consumer; responsibility to the general public or to society in general.

6. Explain why asking corporations to be merely compliant with the law cannot be considered as sufficient and can generate dangerous distortions in our globalising societies.

7. Illustrate and discuss the concept of corporate moral responsibility.

8. Illustrate and discuss the concept of legal compliance.

9. Illustrate and discuss the concept of social responsibility.