week 6 discussion ethics

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Management

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Feb 20, 2024

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Governments have become increasingly involved in CSR through legislation and regulation as well as by encouraging CSR or sustainable practices. Various aspects of ethics have been legislated through the legal system such as laws against dishonest business practices, laws to prevent monopolistic behaviour, and laws relating to the health and safety of employees. In your opinion, do you believe governments should be involved in influencing CSR in business? Should governments play a role in telling businesses what they can and cannot do with regards to social responsibility? Explain in detail and provide your reasoning along with at least two references to support your perspective. Be sure to leave a meaningful comment for one of your peers. There is always a debate on the topic of the involvement of CSR by governments in business. Some people think that government should include CSR in influencing business to ensure accountability and ethical conduct while others think that too much government involvement may suppress innovation and block business autonomy. Setting standards and regulations that promote socially responsible practices among businesses is the responsibility of the government. Also, to maintain ethical standards in the business environment legislation against dishonest business practices, monopolistic behavior, and laws ensuring the health and safety of employees are essential (Maignan & Ferrell, 2016). For that, governments can promote social justice and environmental sustainability by enforcing mandatory corporate social responsibility practices that hold companies responsible for their social and environmental effects. However, it is important to achieve a balance between regulation and autonomy. Demanding government regulation could limit company creativity and adaptability, which could ultimately harm economic expansion and competitiveness (Carroll & Shabana, 2016). Governments should concentrate on developing incentives for voluntary compliance, such as rebates, loans, or subsidies for companies that engage in socially responsible practices, rather than imposing specific CSR initiatives. This strategy promotes innovation and maintains corporate autonomy while encouraging companies to behave responsibly. In conclusion, governments can influence corporate social responsibility (CSR) in business by enacting laws and regulations, but it's important to find a balance between control and independence. So, offering a framework for moral behavior and offering incentives for voluntary compliance without limiting corporate innovation, government can encourage CSR practices References: - Maignan, I., & Ferrell, O. C. (2016). Corporate social responsibility in Europe and the U.S.: Insights from businesses’ self-presentations. Journal of Business Research, 69(6), 2027-2036. - Carroll, A. B., & Shabana, K. M. (2016). The business case for corporate social responsibility: A review of concepts, research and practice. International Journal of Management Reviews, 12(1), 85-105.

References: - Maignan, I., & Ferrell, O. C. (2016). Corporate social responsibility in Europe and the U.S.: Insights from businesses’ self-presentations. Journal of Business Research, 69(6), 2027-2036. - Carroll, A. B., & Shabana, K. M. (2016). The business case for corporate social responsibility: A review of concepts, research and practice. International Journal of Management Reviews, 12(1), 85-105.

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