Why we need Business to be Good Corporate Citizens?
"There is no principled way to define it the concept of corporate citizenship and there is no authority to proclaim the correct sense" (De George 2008: 43). Corporate citizenship is not what philosophers would call a natural kind, with a truth or essence out there to be discovered. Companies are influenced to build a corporate image. This will help them to attract the best staffs. According to a new study that discloses the majority of people prefer working with good corporate citizens. The 'Passion People' survey found that 82% per cent of respondents would rather work for a company that supported good causes. Corporate consultants Cavill and Co and employment web site www.seek.com.au, jointly conducted the study by looking at the relationship between a company’s charitable commitments and the impact of this on its workforce. There are few favoured causes that are taken into consideration. Such as: children's charities (54%), projects assisting the environment (47%), local community project (40%), youth (38%), education (36%), animal welfare (31 per cent), disability (28%) and mental health (24%). Indigenous and overseas aid causes were the lowest. The survey was conducted amongst 1100 respondents who worked for companies with more than 10 people. Many respondents were unable to name any company that they considered to be a good corporate citizen, and even the top-scoring companies like: The Body Shop, McDonald's, Hubbard’s (NZ), Warehouse (NZ) and West Pac, were cited by only 178 respondents. Statistically proven that, 76% of Australians prefer to purchase goods and services from a company with a record of good corporate citizenship. Furthermore, 87% of investors prefer to place their funds with an ethical company and 83% of workers want an employer that does community work. Woolcott Research shows that financial institutions performed the worst when it came to corporate citizenship after researched carried on. For an instance, Bakers Delight is the leader in corporate citizenship, topping a list of industries ranging from airlines, telecommunications and financial organisations. The independent study by Woolcott Research found Bakers Delight has been recognised by the public for its work with the community on both a national and local level. Bakers Delight’s partnership with the Breast Cancer Network Australia (BCNA) over the past five years by running its website and conducting fundraising activities. Bakers Delight donates $25m in bread each year to various organisations, including the Salvation Army. (Resources retrieved from www.bandt.com.au)
What is good Corporate Citizens mean?
There are many ways we can define and show Good Corporate Citizens but the common thread is Corporate citizenship recognizes that businesses have a responsibility to respect the individuals, the community and the environment in a way that when implementing any rightful business strategy they will put up with the laws and regulations, and remain to high ethical standards. Each individual citizen also has responsibilities and rights together with corporate citizens. These lead to a set of social values that provide a benchmark upon which they can perform their respective roles in smooth with the wider community, for mutual benefit. Good Corporate Citizen Principles:
Maintaining a high standard of business ethics
Working as part of the community;
Protecting the environment;
Providing good corporate governance;
Engaging in fair trade and business practices, as well as fair workplace relations. It is necessary to entities that when businesses apply high standards of service, in that way consumers ‘confidence created in their products and services and they ensure that not only will the business succeed in its activities but also that the community as a whole will benefit from the positive effect this has on maintaining vitality in the economy. For example,...
Please join StudyMode to read the full document