Csr & Global Ethics

To be successful in this cut throat competitive environment, firms should incorporate the concept of social responsibility into their business models.   Corporate social responsibility is just like an automated mechanism where the firms can ensure and embrace the ethical   standards.   If the firms and their social interests are not coordinated properly, then it is very difficult for the firms to sustain in the market (Fontaine, 2013).   Friedman's views are more practical towards the profit maximization of the shareholders but where as Carroll's views are leaned more towards the ethical responsibilities, therefore I would like to prefer to subscribe to Carroll's view, as they have a broader sense that not only creates a positive impact on the financial performance of the firm, by enhancing the goodwill of the stakeholders but also has a positive impact on the society (Dilling, 2011)
The firms strategy of social responsibility or other activities will affect the stakeholders, shareholders and as well as the communities where the firm operates.   Therefore the firms should expertise their corporate strategies in analyzing and considering the views of the stakeholders in order to maintain an ethical relationship with the stakeholders as they hold a key to the environment where the firm operates (wheelen & Hunger, 2012).   Maintaining an acceptable relationship with the stakeholders is very crucial for a firm, because motivating their views and decisions in a positive way towards an organizational goal will result in a mutual benefit.   In this process it is very important for a firm to identify and prioritize its stakeholders.   A firm may have many stakeholders but it has to prioritize them based on importance and power of the stakeholders that the influence both external and internal environments of the firm for achieving the organizational goals and objectives (Crane, & Ruebottom, 2011).
Corporate business ethics includes the values, policies, and rules that an...