The types of real-world problems studied include business decisions’ effect on climate change, on depletion of natural resources, on employee welfare, and on the welfare of local and wider communities. This involves balancing the interests of shareholders against those of other stakeholders and balancing short term against long term interests. The module critically evaluates corporate social responsibility strategies and concepts of the firm as an organisation of stakeholders. The importance of transparency, the role of whistleblowers, and the nature of bribery are also discussed. The concepts of ethical behavior and corporate social responsibility have come to the fore in recent years in both developed and developing countries as a result of growing sense of corporate wrongdoing. The idea that business enterprises have some responsibilities to society beyond that of making profits for shareholders has been around for centuries.
This, in turn, reduces profit which might not be an issue for … Read More