ASSIGNMENT 2: BUSINESS ETHICS AND CORPORATE GOVERNANCE

WHAT IS CORPORATE SOCIAL RESPONSIBILITY? WHAT DOES IT MEAN?

What does CSR mean anyway? Is it a secret agent like the 007 Bond, but maybe with different type of mission, who knows they are ask to be the stalker for company to do some secret stalking activity to other company agenda? Anything can happen in implement and existing a relationship in business. 

Different organization have framed and define CSR in many ways. CSR define as the voluntary activities undertaken by a company to operate in an economic, social an environmentally and sustainable manner. Its little bit bombastic to understand, let me put out in a situation. It is about how company actually manage the business process to produce an overall positive impact on society.

Corporate Social Responsibility is the commitment by business to act ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society.

CSR is build for sustainable livelihoods. It respects cultural and finds the business opportunities in building the skills of employees.

 A business philosophy focuses in the need for firms to behave as good corporate citizens, not as obeying the law but as their production and marketing activities in a standard which  avoid causing environmental pollution or exhausting finite world resources.

Some businesses have begun to behave in a more socially responsible manner, because their managers want to do, and partly because of scared of environmentalist and consumer pressure groups and the media, and concern for their public image. It is argued that socially responsible behavior can stay in the long time.

SOURCE: Collins Dictionary of Business 

In the United States, CSR has been defined much more in terms of a philanthropic model. Companies make profits, except by fulfilling their duty to pay taxes. Emm...thats sound abit realistic.Then they donate a certain share of the profits to charitable causes. It is seen as tainting the act for the company to receive any benefit from the giving.

The European model is much more focused on operating the core business in a socially responsible way, complemented by investment in communities for solid business case reasons. Personally, I believe this model is more sustainable.

But as with any process based on the collective activities of communities of human beings (as companies are) there is no 'one size fits all'. In different countries, there will be different priorities, and values that will shape how business act. And even the observations above are changing over time. The US has growing numbers of people looking towards core business issues.

 Business for Social Responsibility define CSR as

Operating a business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business.

After reviewing the broadly definition of CSR, somehow it now focuses on the impact of how their manage their core business. Some go further than others in  how far companies go beyond managing their own impact into the terrain of acting specifically outside of that focus to make a contribution to the achievement of broader societal goals. It is a key difference, when many business leaders feel that their companies are ill equipped to pursue broaders societal goals, and activists argue that companies have no democratic legitimacy to take such roles. 

ASSIGNMENT 1

WHAT IS BUSINESS ETHICS?

Ethics is what is right and what is wrong, same goes to law, what is lawful and what is unlawful? But I’m not going to tell any story about law, I’m going to explain briefly 

'WHAT IS BUSINESS ETHICS?'

Ethics is about answering the question. 'What I ought to do?' Whenever you face with the question, you are dealing with ethics.

Business ethics are implemented in an organization in order to ensure that certain requirement required a level of trust in integrity. When we talk about trust, we are definitely talking about the relation that exists between consumer and several of market or stakeholders, or even participants involve in the market or I consider as in business.

As we all alert with, Business ethics are often guided by law, while other times it provide a basic plan or I called it framework that businesses can choose either follow the rule in order to gain a acceptance by the public or the other way by nor to choose. It all depends on the company itself whether to stay sustain in market for long term period or just to stay in flash of lightning. I guess everyone avoid from getting strike by the lightning.

First of all, Ethics in general is the study of standard of behavior which promotes a serve to human welfare and often called the ‘good’. Here, the term of ‘good’ is not defined as the product or even a service offered by a company. ‘Goods’ here of course define as the extents to the concern of the physical environment, animal welfare and as well to serve the human welfare.

In other hand, business ethics, that sound quite similar with the ethics, the only difference is there is the added of ‘business’ word. Business ethics is the study of business behavior which does the same thing, which to promote the human welfare and the good as well.

WHAT IS BUSINESS ETHICS GENERAL ABOUT? Well it is about how we behave and how we grab the chances and standards we hold ourselves into. Business ethics is how we structure our business organization and the way it works with the community, and therefore business ethics s how we structure our business society as how it can affects the business system.

Business ethics can be also considered as the public relation, this is the stunt employed by large successful companies to look and stay good. Generally, this is what business ethics is.

WHY BUSINESS ETHICS CONSIDERED 

'OXYMORON'?

Oxymoron came from Late Latin word in 1950-60, oxymorum define as sharp and dull. This word is derived from the Ancient Greek. Unfortunately, this word is not found in any of the extent Greek sources, by according to the Oxford English Dictionary.

It’s a kind a turn of expression. Oxymoron is a character of communication or a style of accent and expression and seems like, a self contradictory effect, or in simple definition called as cruel kindness or in a way to make ‘hurry slowly’. Yeah! That’s right, cruel kindnesses sound a bit bitter, but somehow it is seriously examine in business ethics field and activity.

WHY IS ETHICS IS CONSIDERED OXYMORON? Well since a business ethics require a great deal of trust and integrity. Simple definition of oxymoron is when a figure of speech appears in conjunction of ‘faith unfaithful kept him falsely true’. Don’t get confuse. It just a random sentence to get a clear picture. This is why its considered Oxymoron.

Even though there is unethical business behavior, which is exceptional actually. Somehow those people in business field act unethically and ethically most of the time, either to achieve their dream having a successful business empire and gain a lot of profit or they wanted to promote a serve to the human welfare.

 

DEFINITION OF CORPORATE GOVERNANCE

Corporate governance is a term that refers broadly to the rules, processes or law by which businesses are operated, regulated, and controlled. It actually can be also as the internal factor that defined by the officers, stakeholders or a corporation.

Referring to R. Duane Ireland, Clearly, a strong background of corporate governance provides structure with a theory 'works for the benefits of everyone concerned' by ensuring the enterprise to accept ethical standards and best practice as well as the formal laws.

Corporate Governance is a relationship among stakeholders, who is used to determine and control the strategies direction and the performance of organization. Corporate are more too concerned with identifying ways to ensure that strategic decision are made effectively.

The Corporate Governance consists of 3 groups of people, who are the stakeholders, those own the company, directors, as the guardians of the company assets for the stakeholders, and of course the manager of the company who use the company assets.

Corporate governance means as setting the condition within with other. It refers to the oversize of the entire firm on the behalf of the owner of the firm, who is the stakeholders. Every member of board director must be completely independent and true by law and it as good as the management practice. The member of the board director must be also diligent and be well inform about the business. That is obviously needed to a corporate governance to stay operates effectively.  

MY ECO FRIENDLY PRODUCT

(O’BON SUGARCANE JOURNAL)

Eco-friendly literally means earth-friendly or not harmful to the environment.  This term most commonly refers to products that contribute to green living or practices that help conserve resources like water and energy. Eco-friendly products also prevent contributions to air, water and land pollution. You can engage in Eco friendly habits or practices by being more conscious of how you use resources.

Every time we cut down a tree, we disturb nature. A bird loses its nest, a source of oxygen disappears, and a habitat is violated. When this happens to thousands of trees, we call the ‘deforestation’ and it results in global warming. One alternative to reduce deforestation is sugarcane paper, also known as ‘Bagasse’. It refers to the sugarcane fibers remaining after the juices have been extracted, and is the central ingredient in paper. 

‘Bagasse’ manufacturers are able to turn these fibers into a rich, high quality paper that is environmentally far friendlier than using wood. Sugarcane grows incredibly fast and the pulp that is left over after juices have been extracted can be converted into paper very easily. The paper looks beautiful too. At O'BON we are really proud of our ability to find creative ways to produce useful, everyday stationery items in clean, renewable ways. ‘Bagasse’ notebooks are a clear reflection of this and represent an important part of O'BON's lineup of amazing products. 

PRODUCT REVIEW

SIZE   : A6 (4.5 in x 6 in)

PAGE : 80 pages

PRICE : RM 6.50 

Features : Sugarcane Paper, Soy based Inks, Card Stock Cover 

Benefits : Preserves Forests, Non Toxic, Recycled Material

The O’BON Bird Series regular sized journal complements your note taking with a stunning and detailed bird and fruits design. The front and back covers features a crimson bird feather print for a rich and detailed visual. The journal is bound by and aluminum spiral and comes with 80 pages of white sugarcane paper, made from recycled sugarcane pulp.

This journal is perfect for individuals who appreciate beautiful designs and a popular journal size.

This is an innovative recycle and Eco friendly product and a giant leap in the right direction. Save our trees, protect wildlife and save Mother Earth.