Description
The Worlds Most Reputable Companies For Corporate Responsibility 2019
Vicky Valet
September 19, 2019
Many corporations are seeking to regain the trust of shareholders through a demonstrated commitment to corporate responsibility. According to Stephen Hahn-Griffiths, chief reputation officer of the Reputation Institute, Its not necessarily that companies have done anything dramatically different, but theyre doing a better job of providing reasons to believe that they have good intentions, he said. Companies have chosen to pick one thing that matters, rather than trying to address all things, and that has caused an increase in corporate responsibility scores.
The Forbes article explains that In todays world, corporate responsibility is as essential to business success as financial performance, and organizations that have adopted a more thoughtful approach to corporate responsibility have undoubtedly positioned themselves to win hearts and minds in the court of public opinion. That is the strategic opportunity for any given business today, Hahn-Griffiths says. Explain to the world what youre doing to have a positive impact on society in a way thats unique to your organizationthat can make a big difference.
Incorporating what you learned in this Unit, do you think it is better for a company, from a business ethics standpoint, to address multiple methods of engaging in corporate responsibility, or focus on just one thing?
Please respond substantively to least two of your classmates, weighing in regarding your thoughts about what they have expressed.
I picked two students to reply for their discussion board answers.
1. I believe that it is better for a company to address one method at a time when engaging in corporate responsibility. Stephen Hahn-Griffiths states how companies should choose one goal to focus on that can prove they have the right intentions. Businesses can focus on social, environmental or supply strategies when engaging in corporate responsibility. For example, an environmental corporate responsibility action would be reducing the carbon footprint. Many well-known companies engage in this environmental preservation, some include: Disney, Nike, Ford, Johnson & Johnson, etc.. If a company can prove they are impacting the environment, then they can “win the hearts and minds in the court of public opinion”. I think focusing on one objective at first is the right move because they can truly gear their business towards an important goal, and then once it is achieved they can move on to the other aspects of corporate responsibility!
2. As much as a company would want to focus on multiple methods of engaging in Corporate Responsibility to satisfy the needs of many, I think it is best for a company to focus on and master one method. Realistically, in life, you can never satisfy everyone’s needs. If by trying to focus on multiple methods in order to do that, a company will never be able to perform to the best of its ability as well as fully do that because it is impossible. In the Stakeholder Theory, one may do more than just maximize profits within the law and morality. They focus on other actions that are not a part of their company mission. I feel that if a company may take different actions and perform different methods it may distract a company from being as successful as they possibly can be! I think the best method to focus on is the Shareholder Value Perspective where the only thighs they focus on is maximizing profits.Therefore, I think the best way to engage in CSR is by focusing on one method, such as the Shareholder Value Perspective, because it allows a company to really master the steps they may take in order to be as successful as they possibly can be as well as maximize profit.
