Ethical Spending of Corporate Profits Article Review

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Corporate Social Responsibility

As the title in the header suggests, this report is about corporate social responsibility. What shall be included in this report is a brief description of what is meant by corporate social responsibility, the contribution to the subject made by the article chosen for this report, a discussion of why the article is important as it relates to understanding and applying the knowledge related to corporate social responsibility, the review of an additional article that does much the same and a conclusion that ties it all together. While some may dismiss corporate social responsibility as needless and overly reactionary, there is such a thing as being both a good business person and a good steward towards society even if people widely disagree as to what the minimum standards should be.

Analysis

Business News Daily offers a good definition and summary of what corporate social responsibility is along with some examples of the same. As noted in the introduction, there is a variance among different parties as to what corporate social responsibility does and does not encompass and include. Even so, there are some common themes and trends that hold true in most definitions. Business experts tend to point to things like strong loyalty and a mobile-friendly shopping experience. However, the main linchpin that these experts point to is what businesses end up doing with the profits that they glean from doing business and serving their customers. Business News Daily defines as a business practicing behaviors and patterns that end up benefiting society.

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For example, a business donating money from their profits to the Red Cross would be an example of corporate social responsibility, often shortened to CSR. However, more modern definitions of corporate social responsibility relate to what is known as sustainability. This is the idea of being more environmentally friendly and engaging in business in such as a way that is a net break-even from an environmental standpoint or even an overall gain rather than being a net drain. Examples of this would include recycling paper and other materials, using cars that make use of renewable energy and so forth. The importance of focusing on things like this become more and more important as more customers became aware and cognizant of this. Some firms, whether it be from customer pressure or not, are reacting in kind. For example, a fashion company by the name of Pax Cult donates ten percent of its profits to organizations of the customers' choice. Indeed, it would seem that Millennials are one of the driving forces behind this newer form of the corporate social responsibility trend (Fallon, 2015).

As for an article that contributes to the corporate social responsibility paradigm, one was found that was printed in the New York Times last year. Indeed, Eduardo Porter speaks of the apparent need and motivation to drive corporations to do good when they….....

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Latest APA Format (6th edition)

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"Ethical Spending Of Corporate Profits" (2015, October 24) Retrieved May 13, 2024, from
https://www.aceyourpaper.com/essays/ethical-spending-corporate-profits-2158789

Latest MLA Format (8th edition)

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"Ethical Spending Of Corporate Profits" 24 October 2015. Web.13 May. 2024. <
https://www.aceyourpaper.com/essays/ethical-spending-corporate-profits-2158789>

Latest Chicago Format (16th edition)

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"Ethical Spending Of Corporate Profits", 24 October 2015, Accessed.13 May. 2024,
https://www.aceyourpaper.com/essays/ethical-spending-corporate-profits-2158789
   

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