I need a response to these two answers
Q:Define and discuss (with specific details/examples) the ethical, moral, rational, and economic arguments for Corporate Social Responsibility (CSR). Of the four components, which one is more relevant to you, and why?
ANSWER: The ethical argument for CSR concerns the concept of right or wrong conduct. The three essential components are (1) normative ethics, which uses moral philosophy to categorize an action as right or wrong; (2) descriptive ethics, which explains why individuals make certain decisions; and (3) practical ethics, which uses ethical principles to determine if an action is right or wrong. There are two philosophical approaches to the ethical argument. Consequential reasoning (utilitarian) justifies action in terms of the outcomes generated – doing the greatest good for the greatest number of people. Categorical reasoning (Kantian) justifies action based on the principles by which that action is carried out, such as religion. An example of an ethical argument would be a company choosing not to establish a manufacturing facility in a country that allows child labor.
The moral argument for CSR reflects the interdependent association between a business and society. It is a give-and-take relationship where companies do not exist to create a profit but rather serve the community by operating responsibly and beneficially. Without society, there would be no marketplace for a business to succeed in. An example of a moral argument is a company that does not pollute the local waterways with their waste byproducts but instead disposes of it safely.
The Iron Law of Social Responsibility summarizes the rational argument for CSR, which states that “In a free society, discretionary abuse of societal responsibility leads, eventually, to mandated reprisals (Chandler, 2020).” Businesses actively anticipate and respond to customer expectations to minimalize additional costs. An example would be PepsiCo adding healthier drink and food options to their portfolio to meet consumer demand for low-cost, nutritious meal substitutes.
The economic argument for CSR explains that businesses act in their economic self-interest because CSR adds value by allowing companies to reflect the needs and concerns of their various stakeholders, which are constantly evolving. When a business fulfills the expectations of the stakeholders, they create loyal customers. An example would be organizations listed on the Human Rights Campaign’s (HRC) “Buying for Workplace Equality” guide, which helps consumers support businesses committed to LGBTQ+ equality for their employees.
The ethical argument is the most relevant to me as it is the most similar to the Corps’ values of “Honor, Courage, and Commitment,” which are a part of my daily life. In addition to supporting the Marine Corps as a civilian employee, my husband is a retired Marine. I live and breathe the Corps 24/7 and received annual ethics training to reinforce the ideas. Honor is to have integrity, be respectful of others, be responsible for my actions, and never lie, cheat, or steal. Courage is the mental and moral strength needed to face challenges and overcome fears. Commitment is the determination, dedication, and discipline required to achieve every endeavor.
ANSWER: Ethical argument- CSR is based on two forms of ethical reasoning, consequentialist and categorical. Consequentialist reasoning justifies action in terms of outcomes generated while categorical reasoning justifies action in terms of principle in which the action is carried out. An example of this could be, a change in a corporate holiday date. The company may change the holiday date due to the time we live in to satisfy complaints verses allowing the members to decide between the two dates in question.
Moral argument- CSR moral reasoning reflects the relationship between a company and the society within which it operates. It assumes firms recognize that their ability to operate and achieve success comes from societal resources and consent as much as it does from internal factors. An example of this would be the company’s code of ethics and how it aligns with the business it does and the internal factors like its employees whose actions are supposed to reflect it.
Rational argument- focuses on the benefits to performance of avoiding external constraints and adopts the path of the least resistance with regard to issues of concern makes common and business sense. An example of this is how a company adopts to the ever-evolving world and how it changes so it doesn’t impact operational and financial sanctions with in the company.
Economic arguments- self-interest for business that adds value because it allows firms to reflect the needs and concerns of their various stakeholder groups. This matches corporate operations with stakeholder values and expectations that are constantly evolving. An example of this could be how the company is performing based on the expectations of the stakeholders. The pandemic would be a great situation to evaluate as expectations changed as it unfolded and some companies were able to adapt to a fully remote aspect and other were not, therefore they were forced to cut expenses and lay off members.
I believe moral argument is the most relevant to me. I am very fortunate to work for an amazing company with high moral values that also serves as a guide for our code of ethics. Our code of ethics not only aligns with the business we do, it also provides the employees with a guide for their behavior.
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