Ethics and Social Responsibility

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With reference to DBS, the campaign did benefit them in many ways such as cultivating loyalty in their future customers, promoting POSB as a trustworthy bank for their savings deposit and earning profits in the long-run. Nevertheless, DBS fulfilled their philanthropic responsibilities which were additional actions they had done which were useful in helping the society and in this case, it was educating the students on saving money. Even though I feel that it is not ethical to make use of the children to promote to their parents or public, this campaign does create a win-win situation where both the community and the company benefit.

- Ethics in CSR

There are companies in the world who participate in CSR to enhance their brand image due to their unethical behaviour such as Walmart. Walmart is the world’s largest retailer and it employs up to 2.2 million associates worldwide (Torres, Garcia-French, Hordijk, Nguyen & Olup, 2012). It is well known for its efforts as a socially responsible company which include reducing greenhouse gas emissions of its supply chain and offering financial support to resolve various issues around the world. However, Walmart was caught making use of child labour in Bangladesh to work in their factories and there was gender discrimination in their workplace. As such, it may be difficult for a big company like Walmart to control all of its contractors and business operations. In spite of that, I feel that it is not ethical for companies to make use of CSR to cover up their action but it is agreeable that they do try to contain and improve the situation.

- Conclusion

In conclusion, companies may participate in CSR to gain new customers, promote company brand, attract talented employees and increase in revenue. Despite all of the above mentioned, I believe that both profit maximisation and CSR can work together, arriving at a win-win conclusion. The main purpose of company is to earn profit and being accountable to its shareholders. As long as it satisfy all stakeholders and improve the society to a better place for everyone, CSR initiatives are successful.

- References

Ekatah, I., Samy, M., Bampton, R., & Halabi, A. (2011). The relationship between corporate social responsibility and profitability: The case of royal dutch shell plc. Corporate Reputation Review, 14(4), 249-261. doi:http://dx.doi.org/10.1057/crr.2011.22

AsiaOne Business,. (2015). DBS: A top 50 bank with more of a heart. Retrieved 14 September 2015, from http://business.asiaone.com/news/dbs-top-50-bank-more-heart

Forbes.com,. (2015). Forbes Welcome. Retrieved 15 September 2015, from http://www.forbes.com/sites/devinthorpe/2013/05/18/why-csr-the-benefits-of-corporate-social-responsibility-will-move-you-to-act/

Forbes.com,. (2015). Forbes Welcome. Retrieved 15 September 2015, from http://www.forbes.com/sites/jeannemeister/2012/06/07/corporate-social-responsibility-a-lever-for-employee-attraction-engagement/

Iisd.org,. (2015). Corporate social responsibility (CSR) | Current issues. Retrieved 14 September 2015, from https://www.iisd.org/business/issues/sr.aspx

Bateman, T., & Snell, S. (2013). Management. New York: McGraw-Hill Irwin.

Torres, C., Garcia-French, M., Hordijk, R., Nguyen, K., & Olup, L. (2012). Four Case Studies on Corporate Social Responsibility: Do Conflicts Affect a Company’s Corporate Social Responsibility Policy? (1st ed.). Utrecht Law Review. Retrieved from http://ssbea.mercer.edu/blanke/Four%20Case%20Studies%20on%20CSR.pdf