Research Proposal on Corporate Social Responsibility of German Multinationals in Russia (PDF)

Seminar paper from the year 2012 in the subject Business economics - Business Management, Corporate Governance, grade: B, University of Portsmouth, language: English, abstract: As modern organisations shift into a global environment marred by increased adoption of ethical practices, trickling down of corporate social values and mission to the greater public is now deemed an obligation. Regardless of corporate values and culture, the economic or productive worth of contemporary organizations is even so derived from its value and its expansion of organization's insightfulness for wealth-profit index. This serves as the competitive gauge to sustain its survival in a competitive world (Henriques, 2003). In essence organisations are now seen as leading in promoting sustainable social development in their respective area of operations. This is achieved through sharing of its resources by participating in social projects, initiatives and schemes aimed at the community. Importantly, corporate social responsibility (CSR) allows organisations to remain true to their clients and community, while maintaining strong competitive edge over rivals. In this sense organisation are obligated to act responsibly, remain sensitive to social issues and uphold highest degree of ethical professionalism (Carroll, 1979, p. 500).
Corporate Social Responsibility can be defined as a form of corporate self-regulation and principles incorporated into a business model and stratagem. If possible, CSR policy should be a system that functions autonomously and is simply integrated in the corporation. In the agenda of this policy the organisation is expected to oversee and pledge the adherence of law, ethical standards, and domestic and global norms (Bulkeley, pp. 430-432). Here an organisation should be held responsible for impact of its activities on the environment, clients, stakeholders, employees and the community at large. Additionally, the organisation must enthusiastically support the general public to eradicate practices that hurt populace, in spite of legality or productivity. Generally, corporate social responsibility must be based on three "P principles", that are: People, Planet, and Profit (Friedman).
Corporations are generally inclined to adopt CSR policies by "ethical consumerism" that is particularly apposite nowadays when our planet is so vulnerable to among others; financial, health and environmental challenges. Other notable driver's are laws and regulations, market forces and stakeholder precedence.