Turning Corporate Social Responsibility †Free Samples to Students

Question: Discuss about the Turning Corporate Social Responsibility. Answer: Introduction International business is comprised of all the commercial transactions, which take place between two or more regions, countries or nations beyond the political boundaries (Kolk 2016). Business ethics and social responsibility has strong impact on the success of international business. This study will focus on the impact of ethics and social responsibility on international business. The study has clearly stated the concept of ethics and social responsibility in international business. Moreover, the study has also analyzed the benefits of ethics and social responsibility on international business. Business ethics and social responsibility has become an integral part for every business in the world. Ethical responsibility is all about doing right things, which is beyond the legal boundaries of the business. On the other hand, social responsibility demonstrates the responsibilities of the businesses towards their society. While considering the international businesses, organizations are to deal with the stakeholders beyond their domestic boundaries. Moreover, they are to deal with the people having different cultural background. Therefore, ethical standard should be the prime concern for every international business. The proliferation of cross border trade can results in increasing awareness about the human rights, health and safety, environmental protection and anti-corruption (Young and Makhija 2014). Apart from that, international business also needs to create positive image and reputation in the society for enhancing competitive advantage. It can be achieved mostly through s ocial responsibility. While doing business internationally, organizations need hire employees in global basis. However, it is quite tough to acquire global talent and retain them in the organization. Best professional are always willing to work for such organization, where they can thrive. Moreover, they are always willing to work for such organizations, which exhibit good citizenship. According to Turker and Altuntas (2013), towards maintaining the business ethics, international organizations are always concerned about the needs of the employees. Moreover, ethical businesses always provide fair salary, benefits, privileges, health security and job responsibility. Therefore, business ethics can assist in hiring best global talent for the organization towards enhancing their productivity. On the other hand, Young and Makhija (2014) opined that in an international ground, international organizations should gain the genuine trust of the foreign investors for investing in the business. However, it is quite tough for the international organizations. Business ethics ensures fair return on investment for the foreign investors. Moreover, ethical organizations always maintain clear and transparent communication with the foreign investors. It can help in gaining the genuine trust of the investors and encourage them to invest in the ethical business. As per Saeidi et al. (2015), the loyalty level of the customers always depends on the ethical behavior of the international business. Moreover, in international ground, customers are extremely prone to judge a foreign company based on their standard. Therefore, maintaining standard in the products and service is quite essential towards maintaining the ethical behavior in international business. On the other hand, Christensen, Mackey and Whetten (2014) opined that ethical dealing with the customers fosters enhancing customer satisfaction in an international market. While considering the example of Top Dairy Company Almarai, it has been found that the organization operates high ethical business. Their ethical behavior is based on transparency, trust, respect and integrity for all the stakeholders associated with the business (Almarai 2017). Social responsibility is associated with the efforts of the organizations towards improving the society in some way. It can be done through both monetary and non-monetary terms for the sake of the community. According to Calabrese et al. (2013), performing social responsibility can enhance the corporate image of the organizations in the international market. Moreover, benefitting the community actually fosters positive word of mouth for the brands in international market. Therefore, social responsibility can enhance the corporate image of the international business towards its long term sustainability. On the other hand, Young and Makhija (2014) opined that social responsibility also seems to be the strong part of organizational uniqueness, which can assists in enhancing the competitive edge over the rivals. In this way, customers can be more willing to buy from a socially responsible organization. In this way, social responsible organizations are more likely to retain their valuable international customers for longer time. Furthermore, Kolk (2016) pointed out that socially responsible organizations allow volunteering time to employees for community wellness. It can assist the international organizations towards maintaining a happy workforce towards enhancing productivity. While considering the example of Samba Financial Group, it has been found that the organization is highly responsible for community development. The organization actively participates in youth development and provides charity for the development of disable people (Samba.com 2017). Apart from that, the organization also fights for the women empowerment in the society. All these initiatives have added to the competitive advantage of the organization. In this way, the organization has become the largest and most acclaimed financial service group in the world. Conclusion While concluding the study, it can be said that both ethics and social responsibility has strong influence on the corporate sustainability. Business ethics assist in gaining the genuine trust of the foreign investors through high level of transparency. In this way, international organizations can have strong investors for their international business. Ethical behavior also leads to good customer relationship for the international business through ethical dealing. On the other hand, social responsibility foster positive image of the organizations in the international market. It can also foster positive word mouth for the brands in the internal market. Reference List Almarai. 2017.Almarai - Welcome to Almarai Quality You Can trust. [online] Available at: https://www.almarai.com/en/ [Accessed 30 Apr. 2017]. Calabrese, A., Costa, R., Menichini, T., Rosati, F. and Sanfelice, G., 2013. Turning Corporate Social Responsibility?driven Opportunities in Competitive Advantages: a Two?dimensional Model.Knowledge and Process Management,20(1), pp.50-58. Christensen, L.J., Mackey, A. and Whetten, D., 2014. Taking responsibility for corporate social responsibility: The role of leaders in creating, implementing, sustaining, or avoiding socially responsible firm behaviors.The Academy of Management Perspectives,28(2), pp.164-178. Kolk, A., 2016. The social responsibility of international business: From ethics and the environment to CSR and sustainable development.Journal of World Business,51(1), pp.23-34. Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. and Saaeidi, S.A., 2015. How does corporate social responsibility Management contribute to firm financial performance? The mediating role of competitive advantage, reputation, and customer satisfaction.Journal of Business Research,68(2), pp.341-350. Samba.com. 2017.About Us | samba financial group | Samba. [online] Available at: https://www.samba.com/en/about-us/our-group.html [Accessed 30 Apr. 2017]. Turker, D. and Altuntas, C., 2013. Ethics of social responsibility to indirect stakeholders: a strategic perspective.International Journal of Business Governance and Ethics,8(2), pp.137-154. Young, S.L. and Makhija, M.V., 2014. Firms corporate social responsibility behavior: An integration of institutional and profit maximization approaches.Journal of International Business Studies,45(6), pp.670-698.