The role of corporate social responsibility and ethics in business management
Executive Summary
Corporate social responsibility has been assumed as the imperative business practice in the contemporary environment and organizations which can adopt CSR practices successfully are liable to gain a substantial improvement in their reputation. It is also helpful for describing their presence and their stand in the cynical business domain. CSR strategies are accounted as prolific aspects of the competitive advantage of an organization which are generally pioneered by the organization itself.
The dissertation has been designed to understand the role of corporate social responsibility and ethics in the business management context. The dissertation would be divided into specific sections which would be functional contributors to the objective of resolving the problem statement considered in this dissertation (Ruggie, 2017). The first section provides an introductory reference to the roles of social responsibility and ethics in the present business management contexts. The second section would focus on the illustration of the aims and objectives of the dissertation which would be followed by the third section dealing with the scope of the dissertation.
In the fourth section, the dissertation would deal with a comprehensive evaluation of literature related to corporate social responsibility and ethics concerning the principles and scope of strategic business management. The next section would reflect on a description of the data collection methods adopted for the research followed by an interpretation of the primary data to accomplish the aims and objectives of the dissertation. Finally, the dissertation emphasizes the limitations encountered while conducting the research and the concluding statements about the dissertation process and relevant inferences drawn from the research.
The scope of the dissertation is thus limited to the role of the corporate governance model and the ethical principles that are adopted in the business management setting. Corporate governance aligned with the implications of ethical leadership has been considered as the major scope for the dissertation. The implications of corporate governance and their influence on the perception of ethical and social responsibility of the organization by employees of the organization alongside considering the effects of individual characteristics such as job position, experience and gender of employees have been explored in this dissertation.
Introduction
In recent decades, corporate governance and ethical practices have taken the business environment by storm. The term ‘corporate governance’ can be defined as the set of policies and practices that guide a business undertaking to conduct its operational activities. The ethical principles make sure that a concern manages its activities and processes after taking into consideration the requirements and needs of its stakeholders (BusinessDictionary.com, 2018).
Organizations could accomplish the successful implementation of CSR strategies through the implementation of appropriate policies and procedures which can take environmental, ethical, consumer requirements and human rights into consideration for various business operations and core strategies of the organization. Furthermore, the success of an organization with a CSR strategy is dependent on the level of collaboration with stakeholders. Another profound characteristic associated with CSR strategies could be identified in establishing a positive impact on society alongside improving the shared value for stakeholders such as investors, employees and business owners.
The most generic definition of Corporate Social Responsibility can be identified as the responsibility of organizations for their influence on society. It has been established through various studies and research findings that organizations with a formidable commitment to CSR were liable to exhibit substantial performance levels as compared to the companies which did not (Schwartz, 2017). Some of the other beneficial aspects which could be derived from CSR strategies by organizations could be identified in enhanced customer service standards and improved employee engagement.
The function of CSR within Business Management
The function of CSR within business management could be validated on the grounds of its scope of strategy that is essential for sustaining the existing business environment. On the other hand, many organizations are not able to perceive the significance of CSR for business and therefore are likely to adopt it simply as a marketing gimmick while others have not been able to plan the implementation of CSR strategy appropriately with the required levels of vigour and enthusiasm.
The implementation of CSR programs is formidably dependent on the formulation of a plan that would be reflective of the comprehensive involvement of managers, suppliers, employees and other stakeholders for accomplishing the desired objectives. The common factors which can be accounted as significant for obtaining formidable success in the CSR strategy are identified in the form of CSR evaluation, CSR Strategy, CSR objectives, Implementation plan and actions, Validation and evaluation of results and Refinement. The engagement of multiple stakeholders has to be adopted as a mandatory element in the implementation of a credible CSR strategy (Tai, F.M & Chuang, 2014). The evolution of the scope of CSR has resulted in the inclusion of intellectual assets as well as the potential of human resources to accomplish positive impacts other than depending on mere financial contributions as the prime factors in their CSR programs.
The involvement of employees, supplies, academics, managers and shareholders would help an organization to implement a coherent evaluation of the effect of its operations on society, leverage business opportunities and thus accomplish cost-effectiveness. Despite the formidable prevalence of the CSR wave in the existing business world, many cynical perspectives point out the resistance of organizations to the adoption of CSR strategies and imply that CSR strategies are not adopted with the sole intention of contributing to the resolution of society’s setbacks (Bhattacharya et al., 2017). This aspect is profoundly dependent on the involvement of external stakeholders in imposing direct influence on corporate policies and strategies which is found in the majority of organizations. Therefore, the effective implementation of CSR strategies involves a drastic change in business management structure especially in the form of references to the decision making approaches and corporate objectives.
Concept of Developing a Corporate Culture
The concept of developing a corporate culture that is responsible for active encouragement of employees so that organizations could be able to realize their CSR objectives comprehensively in the real world. The implementation of CSR in the context of business management also draws prominent implications towards the role of ethics in strategic business management. The sustainability of an organization is profoundly based on its ethical commitment to stakeholders as well as a society rather than depending completely on the former (Tran, 2018). The close interplay between ethics and social responsibility of organizations could be related to strategic management as business ethics have become prominent in the domain of business with notable cases such as the Enron scandal. Ethics and CSR have become core priorities of business managers in the existing domain of business since they can be accounted as prolific sources for improving the reputation of the organization. Ethical decision-making models adopted by managers are responsible for the prevention of unethical behaviour and failure to comply with ethical precedents.
Managers are responsible for strategic decision making which is a core component of business management in the modern business environment thereby implying a broader scope of their responsibilities that is not limited to the context of shareholders. The contribution of social responsibility and ethics to the improvement of business management performance has been profoundly established in literature alongside highlighting their influence on the reputation of the firm. It is imperative to consider that stakeholders and society are formidable elements responsible for the long term performance of the organization (Suliman, Al-Khatib & Thomas, 2016). Therefore, ethics and social responsibility can help improve the level of trust between organizations and society thereby contributing to the effectiveness of long term strategies and action plans intended to accomplish organizational objectives such as improving productivity, performance and sales. The implications of ethics in the domain of business management are also reflective of the support of the organizational infrastructure and strategic management for ethical behaviour which can be recognized in the implementation of a code of ethics and ethical leadership (Cheng, Ioannou & Serafeim, 2014).
Aims and Objectives
The main aim of the dissertation is to comprehend the relevance of corporate governance and ethical practices in the business setting and determine the role of ethical practices that helps business undertakings to move forward in the dynamic environment. To get a better view of the practices that can enhance the business management process, the major focus is on the stakeholders and their expectations from a business undertaking (Korschun, Bhattacharya & Swain, 2014). The objective is to assess the various policies and regulations that motivate business concerns to follow the ethical and constructive path in the uncertain organizational setting. Both the theoretical framework and the practical implementation of the corporate governance principles have been covered in the dissertation.
The narrowing of the aim of the study could be identified in the investigation of the interplay between the relationship of age, gender, the position of employees and their evaluation of business ethics for the development of ethical CSR programs for the organization. Business experts have explicit opinions that are directed towards the crucial role of ethics and corporate social responsibility in organizations owing to their potential to influence outcomes of medium and long term investments (Samuelson & Anderson, 2014). The implications of the interplay between ethics and corporate social responsibility on business management could be apprehended clearly from the link between the two facets with strategic management. Some of the basic assumptions that can be followed in the context of the role of ethics and social responsibility in the internal as well as external environments of the organization could be identified as follows.
The neutral and negative facets of personal behaviour are considered as crucial as the positive aspects. The operations of an organization in a socially responsible and ethical manner could be realized effectively through personnel that are associated with supervision and management. Ethics and social responsibility depict interpersonal and reciprocal interactions thereby implying that the ethics of managing personnel should be aligned with their social power (Crane & Matten, 2016). An organization could not accomplish compliance with its ethical and socially responsible obligations without accomplishing sustainability or improvement in its profits and the same is applicable for the reverse.
Ethical commitment and social responsibility are continuous obligations and exist for the business throughout its lifetime (Ferrell & Fraedrich, 2015). Obligations of social responsibility and ethics are explicitly based on the norms of the specific society in which the organization is functional. These assumptions are taken into account for the development of research questions that can be presented as follows.
- What is the extent of the relationship between the experience of employees in an organization and their perception of business ethics and the social responsibilities of the organization?
- To what extent does the gender of employees in the organization influence their perception of business ethics and social responsibility?
- How does the job position of employees in an organization define the extent of their perception of business ethics and social responsibility?
The Scope of the dissertation
The business management topic is pretty extensive as it encompasses a broad range of elements such as corporate governance, strategic models, sustainable growth and development and technological innovation. This dissertation focuses fundamentally on the corporate governance component. Today the customers have the power to assess the policies that are followed by business organizations to carry out their day-to-day operations. Thus a robust corporate governance model is a basic necessity for organizations because it can help them to have a sustainable existence and create a constructive relationship with their target audience (Goetsch & Davis, 2014).
The dissertation draws prominent insights from literature and primary data regarding the impact of ethical leadership which is considered as the depiction of normatively appropriate conduct that is observed in interpersonal relationships and personal actions alongside promoting similar conduct through reinforcement, decision making and two-way communication(Schermerhorn et al., 2014). The positive impact of ethical leadership is perceived in the effectiveness of employees thereby validating the consideration of individual characteristics of employees in the scope of this dissertation (Merchant & White, 2017). The effectiveness of an organization’s strategic management of ethical and social responsibilities could also be ascertained from the commitment of employees to the organization and supervisors, task significance, perception of job autonomy, improved job performance and effort invested in strategic tasks and responsibilities. These factors are also reflective of the significance of corporate culture that promotes ethical behaviour and socially responsible attitudes in the employees of an organization that can be tailored by corporate governance.
The increasing domain of research about corporate social responsibility has been reflective of prominent association with business ethics. The scope of this dissertation is therefore reflective of considering the role of sustainability strategies in the realization of environmental, social and economic performance that are accountable for the ethical reputation of an organization thereby implying the explicit interrelationship between ethics, CSR and business management of an organization. Furthermore, the scope of the dissertation is also vested in exploring the perception of employees on business ethics that is helpful for the organization to adapt to CSR and internal ethics programs implemented within an organization (Wheelen et al., 2017).
The use of an exploratory research approach is considered for obtaining insights into the factors evident in the internal business management framework of an organization that contributes to the effective implementation of ethics and CSR practices. The primary outcomes of the research are aligned with references to the concerns of corporate governance and its influence on the reforms in corporate objectives and decision making structures within the organization considering the mandatory underlying paradigms of business ethics and corporate social responsibility.
Literature Review
In the current progressive as well as the aggressive business environment, the role, as well as the importance of corporate governance, cannot be ignored. As per the study “Corporate Governance and Business Performance: Evidence for the Romanian Economy” by Monica VioletaAchim and Sorin Nicolae Borlea the adoption of proper corporate governance practices has a direct impact on how a business organization performs (Achim, Borlea& Mare, 2016). There seems to be a positive relationship between business performance and corporate governance. In the Romanian economic setting, the firms that follow the updated corporate governance model can generate a healthy rate of return on their investment as compared to the organizations that have a walk and ineffective corporate governance model.
As per Swanson & Frederick (2016), there have been profound ambiguities about the fundamental basis of social responsibility of an organization and the interplay between CSR and ethics of an organization (Swanson & Frederick, 2016). The common implications towards highlighting the cases of CSR through emphasizing the benefits of the programs that are vested in profits for the organization are reflective of the application of social responsibility programs as a business strategy. However, the confusion between business strategy and moral stand-point of businesses are not decipherable thereby implying prominent indications towards the insufficiencies of definitions of CSR and ethical practices in the context of business management in literature.
Perceptions Regarding the Nature of Business Management
The perceptions regarding the nature of business management and its relationship with society form the basis for defining the social responsibility of business. This factor is accounted for determining the responsibility of business towards society thereby implying establishing standards of social responsibility on the grounds of moral obligations that are included in the fundamental principles for the formation and operations of a business organization (Samuelson & Anderson, 2014). The three essential components of the philosophy of business management could be identified in the form of nature of the business, its role in society and its moral obligation to the society. The discussion on the general interpretation of these aspects would provide comprehensive insights into the interplay between business ethics and social responsibility in business management.
According to Schermerhorn et al (2014), the nature of business has been conventionally assumed as a property institution directed towards personal profits rather than contribution as a moral institution. Therefore the traditional perception of the nature of the business was reflective of its identity as a distinct and independent institution from the society (Schermerhorn et al., 2014). The role of business in society was profoundly concerned with the production of goods and services according to the requirements of society members. Therefore, the conventional paradigms were reflective of the emphasis on the role of state or government for addressing social and environmental concerns alongside implying the basic assumption regarding the managers’ responsibility to address the needs of stakeholders.
Traditional Perception
As per Merchant & White (2017), the traditional perception regarding moral obligations of a business to society was aligned with the business obligations of an organization to moderate factors of production through market mechanism and the factor incomes are assumed as contributions to social product. The other factors assumed in this context were reflective of price compensation for other resources that comprised of natural resources also (Merchant & White, 2017).
Therefore it can be assumed that a business could be able to accomplish its moral obligations to society through these factors. However, the conventional perceptions of the aspects of the philosophy of a business suggested that business ethics and social responsibility are distinct elements. The ordinary course of a business was assumed to fulfil the social obligations of the business through market mechanisms and fulfilling the demands of the society thereby leading to the limited prospects for ethical discrepancies in this case. The concept of ethics in an organization is therefore narrowed down to the person invested in the organization without considering any scope for business ethics. This implied that social responsibility programs implemented by a business are voluntary without any moral obligations to society or ethical considerations.
Changes in Paradigms Related To Business Management
According to Wheelen et al (2017), the changes in paradigms related to business management were reflective of prominent insights laid foremost on the shift in the philosophy of business. This shift has been responsible for blurring the demarcation between society and business alongside reflecting on the limitations of unilateral imposition by the state or government through the legal framework in the context of resolution of environmental and social issues (Wheelen et al., 2017). Therefore organizations were required to introduce novel theories, policies and practices of business management to align with the paradigm shift. It was also imperative to consider the impact of the withdrawal of the state and decline in the role of the state in imposing legal frameworks for addressing social and environmental issues thereby creating a vacuum leading to the requirements for a business to fill the gap.
The paradigm shift has been responsible for drastic changes in the roles, scope and relationships among the business, society and government which draws attention to the foremost implication of imposing corporate responsibility of business organizations towards society. As per Swanson & Frederick (2016), the conventional philosophy of business reflected on the responsibility of the organization towards stakeholders especially for accomplishing profits and was assumed as the sole objective of the business and was desired by the society from the organization (Swanson & Frederick, 2016). The second paradigm shift was directed towards the moral obligations of the organization to society which were profoundly associated with the references to the discharge of social responsibility of a business towards society through the market mechanism. The business compensated the society for the products, raw materials, resources and services by compensating remunerations through the price mechanism. However, the paradigm shift indicated that such approaches could not assure sustainability of businesses thereby implying the imperative nature of responsibility to society.
Business organizations have to be aligned with the requirements for addressing environmental concerns as well as the requirements of stakeholders. The lack of ethical conduct in these dimensions could lead to the ceasing of the business operations. Hence corporate responsibility of an organization was estimated to be a combination of three specific dimensions that include good governance, accountability and corporate social responsibility (Schermerhorn et al., 2014). The three aspects of corporate responsibility have to be incorporated in an integrated fashion in business management approaches rather than considering them independently.
Implications Of These Paradigm Shifts
The implications of these paradigm shifts in the scope of business management reflected on the merger of business philosophy with business ethics alongside the changes in perception of the interrelated aspects of business philosophy i.e. nature of business, the role of the organization in society and the moral obligations of the organization to the society. As per Merchant & White (2017), the nature of business has been drastically reformed from internal and external perspectives with internal perspectives being directed towards diversity of culture and communities among employees in the organization alongside the possibilities of discrimination at workplace analogous to the society (Merchant & White, 2017). From the external perspective, the decline in the role of the state and government can be accounted as the reason for the increase in the social responsibility of business.
Furthermore, the role of the business in the society is no longer limited to the execution of economic activity for the objective of profits but is also extended towards addressing the social and environmental responsibilities that were previously addressed by the state thereby implying its role as a social institution. Moral obligations of businesses were also considered in the realization of responsibilities other than the organization’s obligations to the government, vendors or employees (Wheelen et al., 2017).
Hence it can be observed that corporate responsibility developed from the scope of business ethics and is associated explicitly with three prominent dimensions that are corporate social responsibility, environmental accountability and good governance. These factors imply the influence of business ethics in the corporate governance of an organization (Swanson & Frederick, 2016). The management of an organization is responsible not only for formulating a vision for implementing change by its corporate responsibilities but also enable the effective translation of the vision into practices alongside ensuring a balanced approach to address the three dimensions. The effectiveness of the translation of the vision of corporate responsibility could be identified in the conduct of the business rather than vocal claims made by the organization (Suliman, Al-Khatib & Thomas, 2016).
Good governance
Good governance is a prominent dimension of corporate responsibility. The formation of an enterprise is reflective of the explicit demarcations of control and ownership which are reflective of the principal-agent relationship between managers and investors thereby implying the proliferation of scope for asymmetric information. The information gap between owners, investors and managers could therefore be observed as a mandatory occurrence in business management (Samuelson & Anderson, 2014).
This factor draws the necessity for effective corporate governance based on transparency implying the requirement for shareholders to have complete and credible information regarding the functioning of the business. According to Suliman, Al-Khatib & Thomas (2016), transparency in processes would be helpful for managers to refrain from leveraging asymmetric information. The primary objective of good governance is directed towards preserving the interests of the business owners through management and control systems (Suliman, Al-Khatib & Thomas, 2016). The processes in good governance have to be aligned with the prevention of managers from following their interests or agendas which are not aligned with that of the organization.
Processes of good governance have to be appropriately aligned with the interests of the business owner that primarily include maximization of profits and financial capital for the organization. However, it is also imperative to include the approaches of good governance within ethical frameworks. The improvement of transparency in the aspects of governance has been largely responsible for changes in the perception of investors regarding the profits meted out by an organization that is reflective of their concerns for ethical approaches followed for accomplishing profits (Tai, F.M & Chuang, 2014). Hence the characteristics of good governance of an organization’s business management could be identified in the emphasis on profits as well as ethics failing which the organization cannot be associated with good governance.
The second ethical dimension of corporate responsibility is aligned with references to corporate social responsibility implying the social practices of an organization while addressing the concerns of stakeholders. Stakeholders of an organization are responsible for imposing considerable influence on the policies, strategic actions, policies, practices and objectives of the company (Ferrell & Fraedrich, 2015). The stakeholders of an organization could include profound implications towards suppliers, government, consumers, community and competitors. The conventional perception of business was profoundly associated with the objectives of financial profits which have been transformed to include the organization’s responsibilities to the society extending its scope beyond the production of goods and services for profits.
The scope of responsibilities of an organization has been expanded in terms of redefining the role and nature of stakeholders referring to a broader constituency rather than including the shareholder only. In the present times, organizations are treated more significantly than the basic identity as economic institutions to include their role as contributors to the resolution of social problems thereby helping the society (Merchant & White, 2017).
As per Schermerhorn et al (2014), corporate social responsibility has been defined generically as the continuous commitment of an organization to ethical behaviour and economic development alongside facilitating improvement of life quality for the employees and their families along with the society and local communities. It can also be assumed as the returns given by the business to society (Schermerhorn et al., 2014). The conceptual underpinnings of social responsibility are largely directed towards consistently transforming notions of human welfare alongside emphasizing quality of life which is a profound social dimension of business activity. The concept of CSR enabled organizations to associate with the social dimensions and emphasize the social impacts of their operations. This lead to the majority of organizations involving themselves in philanthropy or integration of CSR in strategic business management approaches.
Environmental accountability
Environmental accountability can be accounted as the third component of social responsibility which reflects on the obligation of an enterprise towards the environment. The interaction of a business with its natural environment is profoundly observed in the extraction of environmental resources alongside the influence on the environment through its operations. These factors draw prominent insights into the accountability of the business towards its environment (Suliman, Al-Khatib & Thomas, 2016).
The increasing concerns of environmental degradation, global warming, waste disposal and depletion of natural resources including water and fossil fuels have led to a direction of focus on moral and legal obligations on organizations to follow sustainable development approaches. This factor also depicts the interplay between corporate responsibility and the principles of sustainable development that imply organizations to be focused on decision making through consideration of financial and economic factors alongside the environmental and social consequences of their business operations (Ferrell & Fraedrich, 2015). Hence it can be assumed that corporate social responsibility also encompasses the organization’s commitment to the environment, responsibility to society and people and maintaining transparency in business practices while addressing the interests of stakeholders.
Followed by a comprehensive evaluation of the characteristic inferences regarding corporate social responsibility it is essential to review the role of ethics in business. It would help review the changes in corporate culture and business management frameworks. Ethics in an organization have been identified on a generic basis as the assortment of moral beliefs and conduct that is responsible for preventing any acts aligned with personal interests alongside promoting honest and appropriate ways for the development of business income. Ethics are considered significant entities for the development of the strategic plan of businesses since they serve as the foundational elements of the organization’s principles.
The primary objectives of organizations are found to be prominently aligned with the provision of services and products alongside obtaining profits by implementing the sales and operations of the business. It is imperative to consider the significance of the compliance of the strategic approaches followed in business management to the ethical standards for stakeholders. The pace of changes in the existing business environment is prominent which are identified explicitly in the external and internal operations of an enterprise (Schermerhorn et al., 2014). Therefore, it is essential to observe that the successful operations of an organization in a specific environment are based on the compliance to responsibilities of the organization towards its interests as well as that of the society.
The company should also emphasize specifically additional responsibility that must be exercised towards its suppliers, vendors, customers, market products and employees to ensure compliance with consumer-friendly and environmentally supportive practices. Maximization of profits is assumed as a plausible contributor to society through the development of the economy thereby indicating the interdependence of organizations and society in the long run. However, it is also essential to present the fact that the organizations should ensure transparency in the acquisition of profits rather than engaging in fraudulent measures for accomplishing profits (Suliman, Al-Khatib & Thomas, 2016). On the contrary, many instances in the present domain of corporate business activities have reflected on the large scale violation of ethical and moral standards for accomplishing financial gains. This type of behaviour is based on the general assumption that social responsibilities could lead to additional pressure for the organization alongside implying losses in the profits earned by the company as well as compromising the competitive advantage of the organization. This factor implies that organizations should follow ethical behaviour such as instances of transparent communication regarding the materials used in the products of the organization and their impacts.
Impact of Business Ethics and Corporate Social Responsibility
The impact of business ethics and corporate social responsibility of business organizations on business management is profoundly associated with the implications of organizational transformation that is required in event of the paradigm shifts. The concept of organizational transformation is profoundly associated with the references to the categories of fundamental, radical and complex changes that are responsible for improving the organization or its status quo.
The implications of transformational change are profoundly related to the explicit changes in the corporate philosophy, values, organizational structures and arrangements which could help tailor the behaviour of organizational members. The transformation is also responsible for reforms in the organization’s design elements and its culture. Organizational transformation is specifically related to the changes in various features of the organization that include references to the information systems, work designs, human resource practices, structures and processes.
The change in these aspects has to be realized in an integrated and coordinated fashion that should be characterized by mutual support for each other as well as to adapt to the reformed cultural views and assumptions. Transformation of business management for complying with the ethical and corporate social responsibility commitments is reflective of the transition of the focus of an organization from control towards commitment (Tai, F.M & Chuang, 2014). The transformational change should be directed towards an emphasis on the human aspects of the organization implying changes in the behaviour of the majority of people in the organization. It is imperative to consider the traditional perspective of organizations which was primarily directed towards the objective of making profits that have been extended to a broader perspective for inclusion of success as the primary objective.
Value-Driven Organizations
Value-driven organizations have been associated with seven levels of consciousness that reflect on the imperative responsibilities of an organization. The first level is associated with catering for the concerns of financial stability that is followed by the second level associated with relationships that act as support for the organization (Swanson & Frederick, 2016). The next level is related to the focus on systems and processes that can account for higher performance. The fourth level of consciousness is particularly associated with the organization’s emphasis on continuous improvement, learning and adaptability. In the next phase, the organization would have to focus on the development of shared values and a set of objectives that has to be followed by accomplishing strategic alliances and partnerships.
The final level of consciousness could be related to the commitment of the organization to the welfare of society and the environment. This implies that the organization should consider precise focus on individual levels of consciousness resulting in the organization’s reputation as a successful organization. However, the paradigm shift in business management induced by the inclusion of corporate social responsibility has been associated with notable requirements for reforms in the perception of levels of consciousness (Ferrell & Fraedrich, 2015). The reforms are reflective of the aspect that implies organizations that are directed towards value and sustainability must be focused on corporate responsibility. The business could be assumed as a social entity which suggests that its sustainability and performance could not be alienated from the mandatory aspects of productive social management.
Finally, it is imperative to focus on the role of the top management in realizing the effective integration of business ethics and CSR practices in the framework of business management. The competitiveness identified in the existing economy is reflective of the necessity of inducing a positive impact on society as a crucial aspect for the improvement of business performance and corporate reputation. The top management of the organization is liable to anticipate the influence of the three mandatory dimensions of business ethics throughout the organizational framework. However, the realization of the three dimensions of ethics should be supported by the commitment and awareness of the management regarding functional approaches for integration of ethics and values in common decision making approaches of the organization.
Role Of Management
The role of management in realizing the effective implementation of CSR strategies and business ethics could also be realized in their significance for translation of the vision into strategic approaches. As per Korschun, Bhattacharya & Swain (2014), the management is responsible for developing processes, plans, practices and systems that could be embedded in the organizational framework that could be observed not only in the top to bottom hierarchical levels but also in the functional areas of the organization such as finance, accounting and marketing. This process could also be accounted for as the institutionalization of CSR practices into the business framework of the organization (Korschun, Bhattacharya & Swain, 2014). The reforms in business management would have to be particularly associated with sustainability concerns to ensure the realization of the vision of the management for the CSR strategy. Therefore, the role of top management in the implementation of business ethics and CSR strategy could be summarized from the findings in literature as the awareness of CSR objectives, translation of CSR vision into practice and contribution to the process of organizational transformation implying the integration of CSR efforts throughout the organizational framework.
Methodology
Primary Data
The quantitative research process would be adopted in the process by using the online survey model in the selected organization. This process would be a must to understand how business entities design their corporate governance model by taking into consideration all of their key stakeholders. This cost-effective research process would play a key role to identify the main areas of corporate governance that can be further strengthened to strengthen the business management model (Shleifer& Robert, 1997). The data collected from the survey questionnaire was subject to quantitative analysis through the use of statistical software commonly used for research processes. The data analysis instrument used in this dissertation is the Statistical Package for Social Sciences (SPSS) which took the data collected from participants as inputs.
The collected data was analyzed by using inferential and descriptive statistics. Categorical variables used in the questionnaire were associated with numerical values such as in the case of gender where the male gender was coded as 1 and female gender was coded as 2. The age of respondents was also subject to coding according to different ranges such as respondents within the age group of 18-27 years were coded as 1, the age group of 28-40 years was assumed as 2, the age group of 41-55 years was coded as 3 and the code 4 was allotted to the age group of 56-65 years. The job positions of respondents in the organization were also subject to coding that was identified in the form of six different categories (Merchant & White, 2017).
The categories included administration, production, quality control, sales and marketing, information technology and others which were coded as 1, 2, 3, 4, 5 and 6 respectively. Descriptive statistics were functional in the description of respondents’ demographics as well as their perspectives regarding business ethics and CSR (Tai, F.M & Chuang, 2014). It was observed that demographic characteristics of the participants were presented in the form of percentages and frequencies and the perspectives of participants regarding business ethics were represented as measures of central tendency that include range, mean and standard deviation. The results obtained from quantitative analysis of the primary data collected for the research could be presented as follows.
This study has a total of 70 participants. The description of participants based on demographic characteristics including age, job position in the organization and gender was a prime highlight of the results of the dissertation. In terms of gender, it was observed that among the 70 participants, there were 29 female respondents and 41 male respondents. The age-related responses of participants in the study were identified in four different categories that included the age groups of 18-27 years, 28-40 years, 41-55 years and 56-65 years. It was found that 15 participants were in the age group of 18-27 years, 16 participants in the age group of 41-55 years while 36 participants belonged to the age group of 28-40 years and 3 participants were in the age group of 56-65 years (Swanson & Frederick, 2016).
Results Of The Primary Data Collection
The results of the primary data collection also illustrated the job positions of respondents in the organization and it was found that 10 respondents were employed in administration job roles, information technology and quality control each. The sales and marketing job positions involved 18 respondents and 16 respondents were associated with production job roles while 6 participants were employed in other job positions in the organization (Samuelson & Anderson, 2014). The descriptive statistics representation of the demographic characteristics of respondents obtained from the SPSS analysis could be presented in the form of a table as follows.
| Demographic Characteristic | Percentage | Frequency | |
| Gender | Male | 58.6 | 41 |
| Female | 41.4 | 29 | |
| Total | 100 | 70 | |
| Age | 18-27 | 21.4 | 15 |
| 28-40 | 51.4 | 36 | |
| 41-55 | 22.9 | 16 | |
| 56-65 | 4.3 | 3 | |
| Total | 100 | 70 | |
| Job Position | Administration | 14.3 | 10 |
| Quality control | 14.3 | 10 | |
| Sales and Marketing | 25.7 | 18 | |
| Production | 22.9 | 16 | |
| Information Technology | 14.3 | 10 | |
| Others | 8.6 | 6 | |
| Total | 100 | 70 |
The data about the perspectives of employees regarding business ethics was also subject to data analysis using descriptive statistics that led to the outcomes in the form of measures of central tendency for variables of business ethics. The perceptions of employees regarding business ethics were profoundly associated with five categories of variables. The variables could be identified in the form of operational, individual, situational, characteristics of work and organizational variables (Suliman, Al-Khatib & Thomas, 2016).
The individual scores of the perception of respondents regarding business ethics within each variable were obtained through the sum of the subscales reflective of perspectives on business ethics. The subscales can be identified in the ten Likert-type questions regarding operational variables, eight questions for organizational variables, seven questions for characteristics of work variables, thirteen questions for organizational variables and seven questions for situational variables.
Mean and Standard Deviation Scores
The mean and standard deviation scores for the perspectives were obtained by the input of the collected data into SPSS. The mean score for perceptions of respondents on business ethics was found to be 148.36 with a standard deviation of 5.21. The range of scores identified in the results of data analysis was from 136 to 159 which suggest the minimum score would not be less than 136 and the maximum score is estimated to be 159 (Bhattacharya et al., 2017). The representation of the outcomes from the SPSS analysis of the primary data could be obtained in the form of descriptive statistics that are illustrated in the form of a table as follows.
| Variables | N | Minimum | Maximum | Mean | Standard Deviation |
| Operational variable | 70 | 21 | 42 | 35.29 | 3.24 |
| Situational variable | 70 | 21 | 29 | 26.67 | 1.91 |
| Individual variable | 70 | 43 | 52 | 47.23 | 2.00 |
| Characteristics of work | 70 | 14 | 29 | 21.01 | 2.89 |
| Organizational variable | 70 | 13 | 25 | 18.16 | 2.68 |
| Perception of business ethics | 70 | 136 | 159 | 148.36 | 5.21 |
Data Collection
To carry out the dissertation process, both the primary set of data and the second set of data would be used to get a holistic picture of the corporate governance model that is used by various business organizations that function in the global organizational setting (Sen, Bhattacharya & Korschun, 2006). The former research studies and published articles have been used to strengthen and support the first-hand research process. The data and information from different sources would help to understand the relevance of corporate governance and ethical practices in the business management context. The data collection process would be one of the critical processes relating to the dissertation because it would help to design the relevant and effective corporate governance models that can help business organizations to have a sustainable existence in the highly demanding and unpredictable organizational context (Sen, Bhattacharya &Korschun, 2006).
Data collection process
The data collection process is a mandatory inclusion in a research process for identifying appropriate responses to the problem statement outlined for the research. The two general forms of data collection process assumed for research processes are primary and secondary data collection which is distinguished based on approaches followed for obtaining data and the sources used for data collection. Each of the data collection approaches is associated with distinct advantages and setbacks which could be translated by the researcher for the selection of appropriate data collection methods for the research. Secondary data collection is assumed as the most effective alternative in data collection for research since the sources for secondary data collection are profoundly identified in the published sources which can be accessed through the internet (Suliman, Al-Khatib & Thomas, 2016).
The secondary data sources imply profound references towards the journals, research publications, industry reports on CSR effectiveness and news articles that focus on the violation of business ethics by an organization. However, the most prominent setback associated with the secondary data collection measures could be identified in the lack of specificity in the data that indicates a certain extent of irrelevance to the variables assumed for the research process. It is also imperative to consider the limitations of secondary data collection in terms of validity as well as the concerns for bias that is evident in the perspectives of various researchers. Primary data collection is considered on a lowered level when compared to secondary data collection only in terms of cost and time required for data collection. However, the positive implications of primary data collection are profoundly identified in the validity and reliability of data since it is obtained from actual participants.
Data Obtained From Actual Participants
The data obtained from actual participants would also adhere to the contextual implications of the existing period thereby refraining from the concerns of the relevance of time which is a notable setback in the case of secondary data that is obtained from sources that were published many years before the time at which the research is conducted. Primary data collection is generally conducted through instruments such as focus groups, interviews, questionnaire surveys or direct observation (Goetsch & Davis, 2014). Each of the instruments has a distinct advantage albeit with prominent implications towards the use of questionnaire surveys for obtaining data from a large sample. Sampling is considered as an imperative aspect of the data collection process as it narrows down the population thereby providing access to people that can facilitate appropriate data related to the research topic.
Method Of Sampling
The method of sampling used in this research process would be stratified random sampling in which participants are selected from different levels in the population for inclusion in the sample. The data collection instrument used in the dissertation is the questionnaire survey that would help realize the quantitative research design adopted for the research. The method of quantitative research design is adopted for an investigation into the relationship between business ethics and the age, gender and job position of the employees in an organization (Merchant & White, 2017). Quantitative methods can be considered functional on the grounds of the basic purpose of the dissertation to measure the construct of employee perspectives on business ethics. The questionnaire survey was designed by considering categorical, continuous and ordinal variables.
Categorical variables can be identified as favourable entities for the representation of group or classification data in terms of numerical values. It can be observed that gender and position variables are examples of categorical variables. Ordinal variables are defined according to their ability to take a specific number of values and the values, as well as their order, should have a particular meaning. Continuous variables are associated with numerical outputs implying that the values could be associated with a number within a given range. The research has assumed one dependent variable of the perception of employees regarding business ethics and three independent variables such as age, gender and job position of the employees. The survey was conducted in Coca Cola with invitations to 130 employees for participating in the study among which 67 were identified in the lower level staff, 46 from middle management and 17 top management executives. However, the response rate was reflective of 70 employees agreeing to participate in the study that implies a value of 54%.
Survey Questionnaire
The survey close-ended questionnaire included two distinct parts among which the first part was related to demographic questions related to participants that included references to gender, job position and age of the respondent in the organization.
The second part of the questionnaire reflected on the use of Likert-type questions to determine the perceptions of employees regarding business ethics and CSR practices of the organization (Suliman, Al-Khatib & Thomas, 2016). The respondents were asked to imply their level of agreement in their responses through different scales among which 1 is reflective of strongly disagree, 2 stands for disagreeing, 3 stands for neutral, 4 denotes agree and 5 stands for strongly agree.
The second part of the questionnaire comprised of questions related to individual variables, organizational variables, characteristics of work variables and situational variables. The study was conducted with the approval from the senior management of Coca Cola by providing a letter of intent for conducting the study. The letter of intent comprised of a brief illustration of the background of the study followed by the purpose of the study as well as the role of the participants. After obtaining the approval, an email was sent to the prospective participants inviting them to participate in the study. The invitation email included comprehensive details regarding the purpose of the study and the significance of their participation as well as a hyperlink for the survey questionnaire on an online platform, Survey Monkey.
The ending of the email invitation asked the participants regarding their will to participate in the study and participants that agreed to participate in the study were required to sign an informed consent form that led to the actual link to the survey questionnaire (Bhattacharya et al, 2017). Participants were also provided with an email thanking them for participating in the study and the data was downloaded from Survey Monkey to be prepared for analysis. The data was encrypted to protect the information alongside limited implications for identifiable information that were acquired so that the confidentiality of respondents was not compromised.
Result of Questionnaire
Limitations
One of the major limitations of the dissertation is that the focus of the paper is only on corporate social responsibility and the ethical aspects. The other elements that are of high relevance in the business management context have not been taken into consideration here. Similarly, the limited availability of time has restricted the assessment process. The corporate governance model is known to be a huge subject that encompasses various elements and sub-elements (Shleifer& Robert, 1997). These elements help a business organization to carry out operational activities daily.
The corporate governance model could differ based on nationality and culture. The intricate elements that govern business organizations in different nations have not been minutely considered in the process because it would be extremely time-consuming and complex at the same time (Suliman, Al-Khatib & Thomas, 2016). The limitation of the research process could be identified in the approach for the study alongside the ethical considerations that are mandatory for the research process. The research depicts the first limitation in the form of restriction to the analysis of the relationship between the variables rather than investigating the cause and effect relationship between the variables.
The research is also limited in terms of the selection of participants that is responsible for reducing the comprehensiveness and relevance of the research outcomes. Another profound limitation of the research is identified in the selection of the data collection instrument restricted to questionnaire survey that could be provided through the internet and e-mail. This implies the lack of prospects for a personal interview that could have been used to obtain qualitative information regarding the subjective perception of employees regarding business ethics and CSR practices of the organization (Schermerhorn et al., 2014). Furthermore, it can be observed that conducting a research study through the internet and e-mail could lead to profound concerns regarding the identity of the participants. It would be difficult to estimate whether the participants provided responses to the survey questions or took external assistance for completing the survey that raises notable indications towards the credibility of the responses obtained in the data collection process.
The limitations of the study could also be identified in the form of consent of the participants for the study since participants from the sample that agree to participate can only proceed with the survey. The other notable limitations of the research process could be identified in the ethical considerations that have to be followed for the research. Ethical considerations are found to be influential on the quality of information obtained in primary data. The ethical implications of the research process are intended to safeguard the anonymity and confidentiality of participants in the study and are considered critical for the protection of the participants throughout the study (Merchant & White, 2017). The informed consent form and confidentiality aspects of the research process can be accounted as limitations as participants had to sign the informed consent form to participate in the survey and some participants did not participate only because they were not willing to sign a document from an external source.
The informed consent form contained a description of the study, its purpose and the premise of the study which was considered detailed and tedious by some participants thereby leading to the lack of interest in participation in the research process. Furthermore, the eligible participants were informed of the fact that the findings of the research could be published in journals or peer-reviewed publications that led to apprehensions among the participants regarding the study despite the indications towards safeguards for their confidentiality and anonymity (Suliman, Al-Khatib & Thomas, 2016). While the element of confidentiality was reflective of possibilities for acquiring precise, relevant and honest responses to the survey questions, it was also observed that confidentiality could be misused for providing inappropriate responses without the fear of discovery of identity.
This could lead to biased responses from the participants thereby leading to inefficiency of the overall research process. The mandatory ethical concern for safeguarding the identity of the participants such as name and address as well as other relevant personal information presents a formidable limitation for the research process as the researcher could not correspond with the participants in future to verify the relevancy of the responses provided by them in the survey (Schermerhorn et al., 2014). It would also imply notable setbacks for future research in a similar domain. Another notable limitation could be identified in the provision of the option for participants to leave the survey questionnaire at any point of time that causes concerns for completion of the research process as well as the accuracy of the results obtained through analysis of the primary data used for the research.
Conclusion
The study on the topic “the role of corporate social responsibility and ethics in business management” would help to identify the core elements of the corporate governance that come into play and guide a business concern to adopt the most ethical and professional practices. It would help to make the most suitable recommendations that business concerns can bring about so that their corporate governance model can be used as a core asset for it. In the dynamic business management context, the dissertation on the critical topic could add value for the currently operational organizations and they could implement better and improved corporate governance principles in the business setting.
The purpose of the study was largely directed towards investigation of the relationship between the job position, gender and age of employees in Coca Cola on their perceptions of business ethics to develop appropriate corporate governance structures for facilitating compliance to business ethics and CSR commitments. The data collection process utilized a questionnaire survey that was initiated with an invitation email that was sent to 130 prospective participants among whom 70 participants opted for involvement in the research process. The survey questionnaire was administered through an online platform, Survey Monkey. The data analysis methodology utilized for the dissertation was quantitative and implemented the statistical software package, Statistical Package for Social Sciences (SPSS) to obtain inferences regarding the interplay between age, job position and gender of the employees and their perception of business ethics and CSR commitments of the organization.
The data collection and analysis helped address the three research questions that were developed in the initial phases of the study. The research questions were primarily reflective of the concern regarding a possible relationship between the perception of an employee regarding business ethics and CSR practices of the organizations with the age, gender and job position of the employee in the organization. The data collection and analysis outcomes reflect on the inference suggesting the lack of a formidable relationship between the perception of employees on business ethics and the age as well as the gender of the employees. On the other hand, it was observed that the position of an employee in the organization was substantially influential on their perspectives regarding business ethics and CSR commitments within an organization. It was observed that organizational variables, characteristics of work and operational variables had no significance for the participants at different job positions albeit with notable implications towards individual and situational variables that suggested the relationship between business ethics and job position of an employee.
The findings provided insights into the observation that with higher job positions within the organization, the perception of an individual employee regarding business ethics is higher. It was also identified that the job position of an employee in the organization was also responsible for the determination of approaches for implementing business ethics in specific scenarios. Secondary research also implies the inference suggesting that leaders are required to embody ethical values for translating them effectively to lower levels of the organizational hierarchy. Therefore the need for appropriate business ethics is profoundly observed in higher job positions within the organization.
The concerns of ethical leadership derived from secondary research could also be used to support the findings as they suggest frequent experiences of ethical dilemmas at the workplace by managers and leaders as compared to employees in lower job positions. Managers are therefore required to impose profound emphasis on ethical behaviour to establish a supportive workplace environment that can influence as well as motivate subordinates for ethical behaviour. This factor implies the significance of managers and leaders in the development of an ethical culture.
Therefore it can be concluded that the reforms in the business management structure of an organization to incorporate business ethics as well as CSR practices effectively can be induced through the comprehensive involvement of the top management in corporate governance. The findings are explicitly reflective of the role of job position as the independent variable related to business ethics. The job position variable could be used to introduce an ethics program model and it is imperative to consider the implications of aligning the ethical culture to the perception of employees for effective outcomes.
Since it has been observed that the age or gender of employees in an organization is not influential on the business ethics and CSR commitments, the development of an appropriate ethics program would be largely directed towards the hierarchy of job positions within an organization. The rank of employees and their tenure in the organizational structure can be assumed as underlying implications for measuring the level and relevance of learning concerning business ethics. Furthermore, it is essential to observe that the determination of the validity of values is comprehensively dependent on the morality of specific decisions. Business ethics are assumed as the explicit factor for the development of trust among stakeholders in the business.
The inferences derived from the data analysis process could be used as the basis for the development of an ethics program that would be tailored according to the general job positions within the organizational framework such as administration, sales and marketing, information technology, production etc. The individual programs would be characterized by distinct levels of business ethics that the employees should be trained in. Despite the ambiguities regarding the progressive or regressive nature of business ethics concerning job positions, it can be stated that managers and leaders have a significant role in the implementation and imposition of business ethics.
This further suggests that the values of managers are profound influences on their subordinates thereby implying the necessity for managers to depict an explicit sense of ethical conduct for appropriate influences on the subordinates and peers. Another notable conclusion that can be derived from the research findings is that business ethics are restricted to situational and individual scenarios since there is no influence of organizational variables, operational variables or characteristics of work on business ethics.
Recommendations
In the 21st century, the sustainability and existence of business organizations do not depend on their offerings alone but also depends on the ethical principles and corporate governance model that governs their operational actions. Thus the recommendations would encourage business organizations to take into account all of the major stakeholders including the customers, employees, suppliers, environmental agencies, community, government and partners while making business decisions. The corporate governance mechanisms that focus on the business and its major stakeholder would help firms to strengthen their market presence.
Business ethics and corporate social responsibility of an organization could be assumed as interrelated entities on the grounds of social contributions in the internal as well as external contexts of the organization. Therefore business ethics should not be limited only to the mission statement, regulations and objectives of the organization.
The scope of business ethics should encompass the elements of corporate culture and governance thereby extending across all members within the organizational framework i.e. stakeholders which include suppliers, customers, shareholders, communities, investors and society as a whole. The feasibility of business ethics and CSR commitments could be aptly realized through the conscious efforts of organizations as well as executives for refraining from engagement in unethical and immoral business dealings. Apart from the establishment of a formidable framework that guarantees the illustration of ethical regulations and principles, it is essential to integrate the element of transparency in business ethics. This would imply that organizations should explicitly depict the responsibility of communicating their business operations and strategies alongside implying continuous improvement of the action concerning employee development.
In terms of corporate social responsibility, an organization needs to understand the necessity of forming an ethical society implicative of an economic system that facilitates effectiveness alongside ensuring that every citizen is liable to access opportunities for higher economic welfare. However, this facet has been observed only in certain cases thereby implying that CSR effectiveness of an organization could be realized only through the implications of minimal abuse of power by business management alongside considering the resolution of interests of all stakeholders.
The rationale of businesses contributing to society has been gaining prominence in recent times with the improvement in the perception of responsibilities on the part of organizations. This factor could be redirected to the influence of society on the sustainability of business thereby implying the necessity for the continuous commitment of organizations towards discharge of their societal duties and obligations to the society. One of the prominent recommendations that could be presented for business management in this context reflects on the practice of fairness in management processes including selection, recruitment and training. The conscious efforts of organizations for preserving the welfare of stakeholders alongside ensuring profitability and growth should be complemented by improving awareness of involved parties regarding their commitments.
The growth of power and influence of organizations is also reflective of the strengthening of the intensity of obligations to society. The findings of the research delivered prominent insights into the impact of business management reforms concerning business ethics and social responsibility commitments of an organization. The notable factor that would help in effective business management reforms is the job position of employees in an organization that reflects on the significance of corporate governance in the effective realization of CSR practices and appropriate ethical behaviour. Business organizations have to depict their ethical behaviour through practices rather than focusing excessively on monitoring and compliance evaluations that could misdirect the strategic efforts and resources of the organization.
The recommendations for further research in this context should be profoundly associated with references to the investigation of the impact that can be rendered by various job positions within the organization on inducing ethical behaviour as well as the influence of inter-departmental transactions concerning CSR commitment and ethical behaviour. Other prospects for future research could be identified in the form of investigation of consumer and society’s perceptions of the impact of business ethics and corporate social responsibility on the changes in the management of an organization which can provide an external perspective on the research topic.
It would also be plausible to recommend the consideration of research on the changes in business management induced by business ethics and CSR in the case of different organizations to obtain a deeper understanding of variables that can be commonly identified in reforms in corporate governance for addressing the needs of CSR and business ethics.
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Appendix:
Section 1
DEMOGRAPHICS:
Please state your Gender- Male/Female?
What is your age?
What is your job position in this organization?
Section 2
INDIVIDUAL VARIABLES:
- Does appropriate ethics denotes the credibility of business?
- Do you think organizations should conform to ethical and societal standards?
- In your opinion, are the social responsibilities of the organization related to the financial performance of the organization?
- Do you practice ethical behaviour at the workplace?
- Do you find personal values to conflict with the ethical norms of the organization?
- Is it acceptable to violate ethical norms for accomplishing business success?
- How significant do you assume the role of stakeholders’ input in the development of business strategies?
- Are the impacts of corporate social behaviour influential on the prospects for the long term profitability of the organization?
- Do you agree that the objective of every business decision could be used to support the means adopted?
- What is your opinion on considering the welfare of the community and consumers in business operations?
- Do you recognize the difference between the claims of the organization and its actual operations?
Section 3
OPERATIONAL VARIABLES:
- Does your organization adhere to a common set of ethical guidelines?
- What is your view on the perception of unethical behaviour through personal judgment rather than the code of conduct of the organization?
- Do you think that managers develop and impose decisions that are in contrast to the code of conduct of the organization?
- Is everyone in your organization held accountable for their decisions and actions?
ORGANIZATIONAL VARIABLES:
- Is customer service emphasized in the ethical guidelines of the firm?
- Is there any form of gender-based discrimination in the workplace?
- Is there any form of race-based discrimination in the workplace?
- Is there any form of disability-based discrimination at the workplace?
SITUATIONAL VARIABLES:
- Do you think that ethical standards cannot be imposed on everyone due to their subjective nature?
- Does the management have the right to incorporate personal interests in business operations and standards?
- Is there a clear code of ethics in your organization?
- Is the management intervention in normal business transactions minimal in your firm?
CHARACTERISTICS OF WORK:
- Is it valid to deal with domestic moral conflicts among employees within the organization?
- Do you agree that the code of ethics of the organization is a guide and cannot be used for making every decision?
- Does the order of management influence the accountability in actions and practices?
- Is it appropriate to provide equal opportunities for skill and personal development training to all employees?
