According to the senior prosecutor Lee Won-seok , president Park Geun-hye was accused of letting her “long-time friend” Mrs. Choi Soon-sil, “who had no official position, intervene in state affairs…”, take advantage of the relationship with her to “pressured on business companies to offer bribes, thus taking private gain”, stated by Harris (2017). On the other hand, according to Zgheib (2015), bribery is “ the attempt of offering,…, soliciting of something else of value to an individual or company in return for an illegal action or breach of trust.” More details, the amount Samsung had paid money to two foundations of Mrs. Choi , which are under her control, was reported up to nearly $40 million in bribes. In addition, Samsung also had bought
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In return, the corporate got the government’s backup in politics.(Sang-hun & Mozur, 2017).
a. CSR analysis
Based on the key points of the case, we will use Corporate Social Responsibility (CSR) concept to develop the analysis of the scandal and see how Samsung has effected …show more content…
Besides, stated by Geethamani (2017): “ CSR is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders”. Furthermore, according to Crowther and Aras (2008) there are three basic principles of CSR activities, which are sustainability, accountability and transparency. Furthermore, in order to keep a sustainable and successful business with open and transparent practices, the companies have to satisfy four aspects of CSR concept which are “economic, legal, ethical and philanthropic…of a given society at a particular point in time” (Crane and Matten, 2016). Samsung is a successful corporation in CSR, about the economy , the value of Samsung on Korean Stock Exchange is more than 20% and the business of the corporation is around 15% of South Korea’s economy (Ullah, 2017). In addition, as reported in the Annual Sustainability Report of Samsung (2016), the corporation has established a Sustainability Management System which including 14 departments with the function of sharing and discussing strategy plans before put them into action. (Samsung 2016) However, in this case Samsung has broken a fair business environment of South Korea’s economy,
In return, the corporate got the government’s backup in politics.(Sang-hun & Mozur, 2017).
a. CSR analysis
Based on the key points of the case, we will use Corporate Social Responsibility (CSR) concept to develop the analysis of the scandal and see how Samsung has effected …show more content…
Besides, stated by Geethamani (2017): “ CSR is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders”. Furthermore, according to Crowther and Aras (2008) there are three basic principles of CSR activities, which are sustainability, accountability and transparency. Furthermore, in order to keep a sustainable and successful business with open and transparent practices, the companies have to satisfy four aspects of CSR concept which are “economic, legal, ethical and philanthropic…of a given society at a particular point in time” (Crane and Matten, 2016). Samsung is a successful corporation in CSR, about the economy , the value of Samsung on Korean Stock Exchange is more than 20% and the business of the corporation is around 15% of South Korea’s economy (Ullah, 2017). In addition, as reported in the Annual Sustainability Report of Samsung (2016), the corporation has established a Sustainability Management System which including 14 departments with the function of sharing and discussing strategy plans before put them into action. (Samsung 2016) However, in this case Samsung has broken a fair business environment of South Korea’s economy,