Corporate Social Responsibility (CSR), refers to “consideration of and response to, issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with the traditional economic gains which the firm seeks” (Peng, 2014, p. 363). Historically, CSR issues have been on the back burner for many managers, but these issues are increasingly being brought to the forefront of corporate agendas; which the recent corporate scandals, environmental issues, and extreme global poverty levels.
At the heart of CSR is the concept of stakeholder, which is “any group or individual who can affect or is affected by the achievement of the organization’s objectives” (Peng, 2014, p. 363). Additionally, a leading debate on CSR is whether managers’ efforts to promote the interests of these stakeholders are at odds with their fiduciary duty (required by law) to safeguard shareholder interests (Peng, 2014). Moreover, a key goal for CSR is global sustainability, which is defined as the ability “to meet the needs of the present without compromising the ability of future generations to meet their needs.”5 It not only refers to a sustainable social and natural environment, but also sustainable capitalism” (Peng, 2014, p. 364).
Conduct scholarly research and review at least 5 peer-reviewed articles related to the global responsibility model, write a scholarly paper that applies it to a situation or situations using the following as a guide:
Given that you can choose where to register and list your firm anywhere in the world, which country’s securities and corporate governance laws would you prefer? Research and compare at least five possible locations, and then make a final selection. Provide a justification for your selection.
The CSR debate centers on the nature of the firm in society. Why does the firm exist? Most people would intuitively answer: “To make money;” that is, profit. Others argue that it has responsibilities that are social in nature; that is, people. And others argue that corporations have a responsibility to the environment. Milton Friedman, a former University of Chicago economist and Nobel laureate, eloquently argued: “The business of business is business.” Research this debate and provide a clear perspective of all sides of the argument.
Support your paper with at least five (5) scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included. Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards.