Roadmap for Answer Writing 1. Introduction: Contextual Overview Brief Introduction: Introduce the increasing contribution of the corporate sector to wealth generation and employment, alongside its negative impact on the climate and living conditions. Purpose: State the aim of critically examining whether Corporate Social ...
(i) Constitutional Morality Constitutional Morality refers to adherence to the core principles and values enshrined in the Constitution, beyond legal compliance. For instance, upholding fundamental rights and democratic values ensures that governance aligns with constitutional ideals, as seen in theRead more
(i) Constitutional Morality
Constitutional Morality refers to adherence to the core principles and values enshrined in the Constitution, beyond legal compliance. For instance, upholding fundamental rights and democratic values ensures that governance aligns with constitutional ideals, as seen in the Supreme Court’s declaration of LGBTQ+ rights in India.
(ii) Conflict of Interest
Conflict of Interest occurs when personal interests interfere with official duties. For example, a public official involved in awarding contracts to a company they have a financial stake in creates a conflict, undermining ethical governance and transparency.
(iii) Probity in Public Life
Probity in Public Life means maintaining honesty, integrity, and transparency in public service. The Vijay Mallya case highlighted the importance of probity, as financial mismanagement by public figures can erode trust in institutions.
(iv) Challenges of Digitalization
Challenges of Digitalization include data privacy, cybersecurity risks, and digital divide. The data breaches in various organizations, like Cambridge Analytica, demonstrate the need for stringent cybersecurity measures and equitable access.
(v) Devotion to Duty
Devotion to Duty involves unwavering commitment and dedication to one’s responsibilities. During the COVID-19 pandemic, healthcare workers displayed extraordinary devotion, working tirelessly under high risk to provide critical care and services.
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Model Answer Introduction Corporate Social Responsibility (CSR) refers to voluntary initiatives undertaken by corporations to incorporate social, environmental, and ethical concerns into their business practices. While CSR has gained traction in recent years, questions arise regarding its efficiencyRead more
Model Answer
Introduction
Corporate Social Responsibility (CSR) refers to voluntary initiatives undertaken by corporations to incorporate social, environmental, and ethical concerns into their business practices. While CSR has gained traction in recent years, questions arise regarding its efficiency and sufficiency in fulfilling the social roles and responsibilities expected of corporations.
Significance of CSR Initiatives
On one hand, CSR initiatives have positively impacted society. For instance, many corporations have launched programs aimed at reducing their carbon footprint, enhancing education and skill development for underprivileged communities, and providing disaster relief. A notable example is Unilever’s Sustainable Living Plan, which aims to halve the company’s environmental footprint while increasing its positive social impact (Source: Unilever Sustainability Report).
On the other hand, critics argue that CSR is inadequate in addressing the fundamental social and environmental challenges corporations face. Many CSR initiatives are voluntary and often driven by public relations rather than genuine concern for societal impact. For example, a 2020 study found that 75% of CSR activities were focused on marketing rather than making a substantial social impact (Source: Harvard Business Review).
Moreover, CSR can sometimes serve as a facade, allowing corporations to mask unethical practices such as labor rights violations, environmental degradation, and tax evasion. For instance, a report by Oxfam highlighted that some corporations engage in extensive CSR marketing while continuing to exploit workers and evade taxes (Source: Oxfam International).
To genuinely contribute to societal well-being, corporations must adopt a more comprehensive approach that integrates social responsibility into their core operations. This includes sustainable business practices, fair treatment of employees, and transparent governance.
Conclusion
While CSR initiatives play a role in corporate responsibility, they are insufficient for addressing the complex social and environmental challenges of today. A holistic approach that integrates ethical considerations into the core business strategy is essential for meaningful impact.
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