What actions regarding Corporate Social Responsibility (CSR) could Barclays haveengaged in after the scandal broke to set things right and ensure that such an eventwould not happen again?
In addition, the paper as well contains discussion about both shareholder’s and stakeholder’s point of views on corporate social responsibility as there have been quite a few controversial about their benefits when implementing CSR....
Evaluating Corporate Social Responsibility Sustainable Development
As of this result, Corporate Social Responsibility (CSR) emerged as a concept that encourages companies to be ethical and responsible with the environment it operates in so as to wider impact on society.
Social Responsibility Essay; ..
In conclusion, the scandal of Barclays Bank depicted how organizations violate ethical behaviors and corporate social responsibilities. Ethics and social responsibility play critical roles in marketing the image and products of the company. Therefore, it will be significant if an organization practice ethical behaviors. Similarly, socially responsible organizations can only outperform their peers by concentrating on social problems and using them as an opportunity to make a profit and help the society.
of Corporate Social Responsibility Essays.
After analyzing the case study about Barclays Bank, the followings are the importance of ethics and social responsibility. First, ethics and social responsibility ensures economic survival (Lamb, 2012). Businesses must step up and solve the prevailing environmental problems for it to get educated and healthy employees, loyal customers with money to spend and also suppliers who provide quality products. Second, ethics and social responsibility ensures honesty and fairness in business (Lamb, 2012). It fulfills its promise of providing products that meet the requirements of the customer. Therefore, companies ensure that their advertisements provide the right information about the side effects of the products. Third, it improves the quality of recruits and also increases retention. When a company practices ethics and social responsibility, it attracts good investors, suppliers, employees and customers. They will be happy to drive the company towards achieving its goals.
FREE Organizational Ethics and Social Responsibility Essay
In recent years, many corporations in the US and in Europe has made efforts to include Corporate Social Responsibility (CSR) as part of their decision making process.
Essay on Ethics and Social Responsibility
After the scandal broke, Barclays Bank could have engaged in the following activities regarding Corporate Social Responsibility to set things right and ensure not to repeat the behavior. First, the bank could have admitted the wrongdoing and make a public statement. It would have helped the bank gain more confidence from the public and the government. Similarly, the public statement would have cleared the bad name of the company from the public minds. Second, the bank could have reported correct rates. The bank was accused of violating the law by giving false information about the rate. Therefore, if the bank had given LIBOR right information regarding the rates, it could have set things right.