Social Responsibility and Entrepreneurship
Topic 1: Social Responsibility
Synopsis
The article Corporate Social Responsibility and Morality of Profits by Switon W. Hudson focusses on if these aspects ought to be adhered to and used in a business entity.
Source: http://www.gcu.edu/Ken-Blanchard-College-of-Business/The-Canyon-Journal-of-Interdisciplinary-Studies/Social-Responsibility-and-the-Morality-of-Profits.php
Summary
The article says the ignorance of corporate social responsibility and being keen on the return on investment is not good business and morally wrong. The legitimacy of social responsibility is based on ethical, and strategic aspects that may relate or work autonomously. In this regard, companies have to avoid harming other stakeholders as they make sure that an appropriate return on investment of stockholders (Hudson, 2014). Hence, social responsibility is beneficial for business and to allocate focus on profitability will adversely affect both internal and external stakeholders. The most significant thing is to have a balance between social responsibility and return on investment that is great to stockholders and stakeholders.
Discussion
Corporate social responsibility and morality of profits are applied differently in companies. Through the manner they are applied, it accords them efficiency and success. It however, has a number of down sides that arise from shift in focus like using profits to manage social responsibility. The CSR has both beneficial and adverse effects. The morality aspects of profits that arise are the enhancement of efficiency of production process for a decline in pollution and costs as well as differentiate products with regard to their settings and social aspects.
An instance is a case of Australian manufacturer – AusMake, a leader in corporate social responsibility. However, the profitability focus on the operation of CSR led to the fall of other elements of responsibility like working conditions of employees (Hudson, 2014). The company went after CSR in varied ways that upheld its economic objectives. In an extensive period of time, the company limited its environmental emissions in its centers.
The corporate responsibility program is an integrate part of the business strategy. Its success is reliant on a number of issues among them economic and social elements. This as shown in the case, has the ability to drive a company to success.
A company’s environmental efficiency allocates companies a moral comfort to acquire their target cost. Heads of companies look to acquire their targets aggressively claiming a moral aspect. The social responsibility of staff ought not to be seen to a way to acquire profit, but profit should be seen as a way to acquire social responsibility.
There is a paradox that arises to employees who work in companies with keen responsibility. Employees are made to align themselves to a company’s financial focus as it connects to moral emission. Employees who criticize the workloads and decline in working state are labelled as unsupportive. Social responsibilities is acquired as a way bringing down criticism of an organization’s objective (Hudson, 2014). The paradox arises when appreciation is accorded to CSR while others forms of responsibility were compromised.
There is however, a negative side to social responsibility, it may issue managers an added sense of morality as they look for profit. Remarkably, this may act as a way that social responsibility operates. It does not just acquire ethical sources of profit, it creates the very pursuit of profit a moral one. Through this, it offers companies a ‘moral’ obligation to go after profit at any cost and avoid any breaches of responsibility that may follow. This works best with all members of the company taking part in the strategies put in place.
Topic 2: Entrepreneurship
Synopsis
Entrepreneurship has played a great role in the understanding of the methods and practices employed in the field as well as in course design.
Source: http://www.globalresearch.com.my/journal/entrepreneurship_v01n01/0003%20abstract%20079%20PG13-25.pdf
Summary
Entrepreneurship has acquired great success and popularity globally and has led to great demand for entrepreneurship education. There is a great focus in education as a way of doing away with poverty and entrepreneurship as a tool could be used to spur economic development. This area has been of focus by many researchers in both public and private institutions (Mason, 2011). The article recognizes the role played by national and global entrepreneurs and elevated entrepreneurship training in China and South Africa among others. Ultimately, the trends of entrepreneurship are discussed on how to acquire success through varied methods as well as the challenges that arise.
Discussion
Entrepreneurship education has a number of trends and issues. On the whole, these issues contrast from one country to another. A good example is that the countries that accord great consideration to entrepreneurship as way to spur growth, have applied policies that advance entrepreneurial practices. This is more so through education and training.
It is worth noting that entrepreneurship leads to economic growth. In real sense, entrepreneurship is vital to keep the economy and to acquire competition (Mason, 2011). Adding to this, entrepreneurial ventures call for more entrepreneurs meaning that it calls for added players in the industry. This education provided is vital in leading to a bigger number of entrepreneurs that will be keen on entrepreneurial activities and assist in the advancement of economic success.
Globally, the significance of entrepreneurship education to economic success is not disputed. This noted in the paper where research is done to get acquainted to the entrepreneurship aspects. The education is based on what to impart on them, the level best suited to employ it and how to do it. This has helped a number of countries in getting successful results (Mason, 2011). Though conclusive results have not yet been acquired. However, it is worth mentioning that entrepreneurship has transformed as an emerging practice.
Another emerging issue is that studies done on entrepreneurship is divided into section for every country and the manner that entrepreneurship would work. Additionally, there is a growing tendency of focusing on external analysis when designing entrepreneurship plans. Rising awareness to handle connection with the fields of entrepreneurship and strategic plans.
Observation is employed in entrepreneurship to make use of a number of technologies as facilitators of entrepreneurship and to apply them in the studies. In regards to contents, the rising awareness and focus on social entrepreneurship is noted to bring about extreme demand for most programs. These developments connect to the present tendency in the sector. Where concern is based on social and environmental matters.
The present social entrepreneurship has grown from tied entrepreneurship which is a letdown to entrepreneurship growth if it is not well managed (Mason, 2011). A good example of the poor handling of tied entrepreneurship is Malaysia which had it economy taking an effort to manage the occurrence of dependent mentality.
Entrepreneurship education has played a great importance in provision of a connection for elites in the education system to be successful in varied economic opportunities. Varied nations that have applied it have grown to be successful in its application and have led to a number of jobs for its citizens. The paper has provided a good base on the trends of entrepreneurship and the issues that arise from poor methods used. Countries like Malaysia and China are good examples of the impact of poor and effective entrepreneurship programs.
References
Mason, C. (2011). Entrepreneurship education and research: emerging trends and concerns. Journal of Global Entrepreneurship, 1(1), pp. 13-22.
W. Hudson, (2014). Social Responsibility and the Morality of Profits. The Canyon Journal of Interdisciplinary Studies. Retrieved on 31st January 2014 from: http://www.gcu.edu/Ken- Blanchard-College-of-Business/The-Canyon-Journal-of-Interdisciplinary-Studies/Social- Responsibility-and-the-Morality-of-Profits.php
