Csr - Definitions Essay examples

Submitted By SabreenSalman1
Words: 633
Pages: 3

Definitions * Westernization: This has become a flash point for opposition to globalization and is used by the Taliban and others to forge religious and cultural uniformity. This has geopolitical implications with important consequences in wars in Iraq and Afghanistan. U.S. Neo-conservative philosophy has alienated numerous foreign leaders. * Liberalization: There are many instances of forced liberalization, under which struggling nations, seeking IMF financing, are compelled to open their markets to foreign corporations. * Universalization: TRIPS (Agreement on Trade Related Aspects of Intellectual Property Rights) has significantly changed aspects of patent and copyright protection, especially regarding drugs * Internationalization: The establishment of WTO in 1995 as an organization capable of ruling on trade disputes (increasing corporate power at the expense of nation states). This replaces GATT treaty, which retained power of nation states. * CSR: A broad set of concepts and principles through which is articulated the obligations businesses and corporations have towards their stakeholders and society at large. Corporations gain their authority through the “license to operate” they are granted (in theory) by the society at large, and thus corporations are obligated to advance the interests of the societies where they do business. Societies, through the aegis of government, build roads, regulate the airways, educate citizens, etc., all of which are preconditions for corporate operations. * License to Operate: The legal power of govt. to authorize the establishment of a corporation or shut down its operations. This concept is usually understood hypothetically, but is very real. There is no longer any “license” as such, and there is now an established legal format for incorporation. * Corporate Personhood: A concept developed in U.S. law in the late nineteenth century after the passage of the fourteenth amendment, which inadvertently gave corporations many legal protections and benefits as legal persons without being accountable as moral persons. * Corporations can enter contracts, sue other parties in court, and exercise rights to equal treatment under the law and due process. * Corporations are protected from unlawful search and seizure and have many of the same rights granted to human persons. * Enlightened Self-Interest: An approach to csr under which corporations assume responsibilities to the extent that it promotes its own interests. * CSR and Strategy: Corporations have four major strategies through which to anticipate or respond to public criticisms or moral disasters: * REACTION: Corporation denies responsibility, which is deflected to government. (SEC cases where firm pays fine but denies responsibility). * DEFENCE: Corporation admits responsibility but offers only a minimal response. (Nestle) * ACCOMMODATION: Corporation accepts its responsibilities and takes the required action. * PROACTION: Corporation anticipates problems or goes