Corporate Social Responsibility Program Response To Question

Running head: CORPORATE SOCIAL RESPONSIBILITY 1

Corporate Social Responsibility Program — Response to Question

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A. The Purpose of Corporate Social Responsibility

Corporate social responsibility is largely aimed at mainstreaming the activities of the

organization with the needs and demands of the stakeholders to avoid lash backs (Post, 2017).

Therefore, it’s a practice that enhances performance and productivity of an organization

(Adeneye & Ahmed, 2015).

Two Examples of Primary and Secondary Stakeholders

The two primary stakeholders that influence the activities of Paradigm Toys are

shareholders and the staff. These stakeholders have the ability to impose sanctions on the

company if it fails to uphold corporate social responsibility. For instance, the shareholders may

decide against investing in the firm and withdraw their support, causing the firm to collapse. The

employees can also decide to quit their job at the company, causing the company the loss of

valuable human resource that cannot be easily replaced.

The two secondary stakeholders include clients and the media. If the Paradigm Toys fails

to engage in socially responsible practices, the clients can decide against buoying its products,

causing it to experience low sales and profitability that would cause it to shut down in the end.

The media, on the other hand, can launch negative media campaigns that would taint the image

and reputation of Paradigm Toys. The tainted image will cause it to lose the suppliers and

customers.

Ways the Board of Directors can Meet Social Responsibility Demands

The board of directors at Paradigm Toys could meet their corporate social responsibility

to the primary and secondary stakeholders through a number of initiatives. One of ways is by

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engaging in ethical practices such as being transparent to the shareholders and treating the

employees fairly. This practice would particularly make the primary stakeholders happy.

Another way would be to strive to produce quality products that meet the expectations of

the consumers, as well as those that are friendly to the environment. This practice would please

the clients and make them to be loyal to the company. It will also please the media that would

then contribute positively in enhancing the image of the company as a responsible company.

B. The Importance of Ethical Leadership

The Importance of Leadership Culture

It is important for an organization to build an ethical culture because it serves as a self-

regulation framework that enables organization to fulfill its goals and, at the same time, fulfill

social responsibilities entrusted upon any business entity. In other words, an organization with an

elaborate ethical culture will not engage in bad organization practices such as corruption and

bribery, environmental pollution, poor treatment of employees and hoarding.

Role of Leadership in Fostering Ethical Culture

The ethical culture needs to be assured by informed leadership. Such leadership needs to

be committed to cultivate the organization culture that values ethics, leading by example,

creating ethical followership and liaising with the members at different levels in identifying areas

of problems, creating mission and working together to achieve the set missions.

The Importance of Ethics Audit

Ethics audit could play a crucial role in enabling Paradigm Toys to realize its ethical

goals. In this case, ethics audit can be defined as a process that aims at reviewing organization

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practices and assesses them against the desired ethical standards with the aim to identify

weaknesses and provide recommendations for improvement.

The Value of Ethics Audit to Paradigm Toys

In this regard, ethics audit will be particularly helpful to paradigm toys because it will

enable it to understand the areas of weaknesses in ethical compliance that need to be addressed.

Ethics audit will provide an opportunity for the firm to assess itself to understand the levels of

compliance and devise strategies for positive change.

C. Ethical Framework for Addressing Ethical Dilemma

Ethical Dilemma

One of the common ethical dilemmas that could occur in the business settings is the case

of the competing decisions whether to produce a product that has high return on investments but

has harmful impact on the environment.

The Alternative Solutions to the Dilemma

One of the solutions to the dilemma is for the firm to go ahead and produce the products

that would harm the environment and then remain silent about it. This step would enable it to

make enormous profits and realize quick growth. However, it is risky business. When the

company is discovered, it could lose its reputation. It can also be fined heavily and its operation

license revoked.

Another option would be consider other options and decide against producing the harmful

product. This approach would deny the company the opportunity to make profits and achieve

quicker growth. However, it provides an opportunity for the firm to assert itself as a business

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concerned about protecting the environment. In the end, this decision could enable the company

build a strong brand resulting from its responsible reputation.

The Best solution

The best solution is contained in the second option: the company should reconsider its

decision of producing harmful toys and invest in a less harmful option. While this decision is

costly at the beginning, it has long-term gains. The first option is quite appealing, but does not

have long-lasting gains. A business concerned about achieving long term goals should invest in

ethical and socially responsible practices.

D. Proposal for Implementing Ethics Training Program

The Components to Include in the Program

An ideal ethics training program to match the needs of Paradigm toys needs to focus on

various components that business affects. Some of the three notable components that should be

the points of focus are legal, environmental and philanthropy.

Why the Three Components

The legal component is concerned about placing emphasis on the need for the organizations

practices to align with the stipulations in the laws. Some of the elements that can be worth

addressing include the employment law, contractual agreements and licensure, among others.

The knowledge of legal component is expected to make the organization to avoid problems with

the law.

The environment component is concerned about the obligation of the company to engage

in activities that are aimed at protecting and conserving the environment. Environmental

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management is important because it is considered to be critical to the realization of sustainable

development. The training in this area is aimed at increasing the capacity of the organization to

avoid environmental problems with the surrounding society and even the law.

The philanthropy component describes the agency of the organizations to be involved in

discretional duties of helping the needy in the society, including providing infrastructure and

funding education for the poor. The essence of training in this area is to make the organization to

be accepted as part of the solution to the diverse problems of the community and build a good

reputation. A company that fails to embrace social responsible practice scan fail (UNIDO, 2017).

The Delivery Method and Justification

The delivery method that would be the most effective for the training program is oral

presentation of content. It would provide an opportunity for the trainers to engage the employees

in constructive dialogue on different ways that ethics could be incorporated into the

organizational activities.

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References

Adeneye, Y. & Ahmed, M. (2015). Corporate Social Responsibility And Company Performance.

Journal of Business Studies Quarterly 7(1):23-28

Post, J. (2017). What is Corporate Social Responsibility? Retrieved from

http://www.businessnewsdaily.com/4679-corporate-social-responsibility.html

UNIDO. (2017) What is CSR? Retrieved from http://www.unido.org/csr/o72054.html

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