Advantages Of Corporate Social Responsibility

1342 Words 6 Pages
Assignment 2
PATRICK FORSON
What are the strengths, limitations and challenges of ethical, socially responsible business practice in relation to the supply chain?

This essay will examine contemporary standards of ethical and socially responsible business practice with regards to the globalsupply chain. Today there are challenges in defining and measuring corporate social responsibility (CSR) between buyers and suppliers. The main arguments will be that multinational enterprise (MNE) must use the main appropriate code of conduct to ensure suppliers adhere to its corporate social responsibility policies. Firstly, the essay will address what corporate social responsibility and profitability. Secondly it considers what the supply
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Corporate social responsibility encompasses not only what companies do with their profit but also how their profits are made. Corporate social responsibility addresses how companies manage their economic, social and environmental impact as well as their relationship in all fundamental aspect of influence at the workplace, the marketplace, the global supply chain and the society. The international organisation for standardisation (ISO) emphasise that the relationship to the environment and society in which business take place is the predominant factor in their ability to continue to function efficiently. Social responsibility means, individualand companies have a duty and must act in the best interest of the society and the environment. The ethical approach is the idea that business should use to balance profit-making activities with other activities that will benefit society through moral standard codes in the global supply …show more content…
McDonald adopted the EU restriction in the use of antibiotics in their livestock production in the supply chain. In the other hand, corporate social responsibility is voluntary and marketdriven, this limit the contribution companies can make to improve their social and environmental standard performance because of the constraints on the resources company spends on corporate social responsibilities limitation makes it tough to monitor manycompany?s performances and compliance on social and environmental sustainability in their business

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