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Business Ethics and Corporate Social EKA University of Applied Science Velga Vevere, Anna Svirina BUSINESS ETHICS AND CORPORATE SOCIAL RESPONSIBILITY EKA UNIVERSITY OF APPLIED SCIENCE Velga Vevere, Anna Svirina BUSINESS ETHICS AND CORPORATE SOCIAL RESPONSIBILITY Publisher: Ekonomikas un kulturas augstskola Reviewers: Dr. Elizabeta Stamevska, Professor at the European University – RM (R.Macedonia) and Agnese Alksne, CEO of the business stakeholder platform “CSRLatvia”, creator of the “Responsible business ambassadors” program (Latvia) ISBN 978-9984-24-233-0 / e-ISBN 978-9984-24-232-3 UDK 658(07) The book is developed within the project ''Online Master Programme for Circular Economy'' [CIRCECO]. CIRCECO is financed and supported by the European Commission, Erasmus + Programme, Key Action 2 – Strategic Partnership (grant agreement No. 2017-1-MK01-KA203-035392). 2 THE AUTHORS I CHAPTER. Concept of corporate social responsibility (by Velga Vevere) II CHAPTER. Elements and dimensions of corporate social responsibility (by Velga Vevere) III CHAPTER. Corporate social responsibility as a company value driver (by Velga Vevere) IV CHAPTER. Corporate social responsibility within the framework of corporate governance (by Anna Svirina) V CHAPTER. Corporate social responsibility in various business areas (by Velga Vevere) VI CHAPTER. Corporate social responsibility reporting (by Velga Vevere) VII CHAPTER. Conceptual framework of business ethics (by Velga Vevere) VIII CHAPTER. Business ethics components (by Velga Vevere) IX CHAPTER. Ethical decision making process (by Velga Vevere) X CHAPTER. Business ethics versus corporate social responsibility (by Anna Svirina) XI CHAPTER. Business ethics and strategic management (by Anna Svirina) XII CHAPTER. Corporate social responsibility: research design (by Anna Svirina) ABOUT THE AUTHORS Velga VEVERE (Dr.phil.) is a Professor at EKA University of applied Sciences / Ekonomikas un kultūras augstskola – EKA (Latvia). She is an expert of the Latvia Scientific Council in the fields of Philosophy and Management. She teaches a number of subjects, among them – Philosophy, Business Etiquette, Research methodology, Brand management and others. She is a supervisor of bachelor and master thesis. V.Vevere is an author of 3 monographs and more than 100 scientific articles in the fields of Philosophy and management (about 20 of them indexed in the Web of Science and Scopus). She is an editor of the “Journal of Economics and Culture” (Latvia), as well as editors’ board member of “European Integration Studies” (Lithuania) and “Globalizations and its Socio-Economic Consequences” (Slovakia). Anna SVIRINA (Dr.oec.) is a Professor at Kazan National Research Technical University named after A.N. Tupolev (Russia), as well as an Assistant Professor at the EKA University of applied Sciences / Ekonomikas un kultūras augstskola – EKA (Latvia). She serves as an expert in Internet Initiatives Development Fund, and was involved several times as an assessment expert for Social innovation projects assessment (done by Strategic initiatives agency). She is an author of more, than 100 scientific papers in the field of economics, management, digital technologies. 3 PREFACE This book is developed within the framework of the International project „Online Master Programme for Circular Economy (CIRCECO)”. Project coordinator – European University – Skopje (R. of Macedonia), project partners – Zelena Infrastruktura, Green Infrastructure Ltd. (Croatia), Fakulteta za komercialne in poslovne vede (Slovenia) YES Foundation (Macedonia) and The University of Economics and Culture (Latvia). Project period – December 2017 – January 2020. CIRCECO is financed and supported by the European Commission, Erasmus + Programme, Key Action 2 – Strategic Partnership (grant agreement No. 2017-1- MK01-KA203-035392). CIRCECO project’s specific goals are as follows: Circular Economy joint research – conducted in collaboration with participants from the business sector, researchers, experts, professionals and students in order to analyse economic indicators and potential benefits and risks of transitioning from linear to circular economy. Support and implement models for effective and practical learning through raising awareness and inspiring students to rethink the economic future from the viewpoint of circular economy; establish innovative educational practices and training platforms so as to speed up the transition from linear to circular economy; provide the latest information, insights, and views implemented in the Master Study Program for circular economy needed to accelerate the transition; foster innovation, creativity and entrepreneurial skills. The support and development of innovative business models focused on a renewable and self-sustainable economy, and employ innovations resulting from the circular economy and the cooperation with the business sector; implementation of a comprehensive business initiative for circular economy and support throughout the implementation stage; strengthening the knowledge-transfer infrastructure. Creating an Online platform, enabling the setting up and implementation of an on-line study programme, allowing students and staff to log in, upload and download learning materials, forum discussions, as well as providing an option for live consultations and lectures. Promoting the benefits of the innovative Online Master Study Programme for Circular Economy and raising awareness through relevant electronic and press media, in order to inform about the latest findings, reports and achievements in the field of circular economy and exchanging views of all interested parties. Increased awareness in the importance of circular economy, not only among the business sector, but for the wider audience as well. 4 The main goal of this book is to increase students’ awareness about the role of Corporate Social Responsibility (CSR) in modern business environment, the significance of ethical decisions, and the impact of socially responsible business on society. This book will help students to be acquainted with the terms and concepts around CSR and Business Ethics (BE), to understand the role of CSR in corporate governance and strategic management processes, as well as to generate ideas about their own research in CSR- or BE-related field. The book “Business Ethics and Corporate Social Responsibility” consists of 12 chapters. Its structure was used as a basis for developing an online course with the same title within the framework of the project. The questions for individual studies at the end of each chapter will help students to systematize knowledge and to fulfil the tasks within the course. 5 Table of Contents Introduction ......................................................................................................... 7 Concept of corporate social responsibility .......................................................... 8 Elements and dimensions of corporate social responsibility ............................. 14 Corporate social responsibility as a company value driver ............................... 22 Corporate social responsibility within the framework of corporate governance31 Corporate social responsibility in various business areas.................................. 45 Corporate social responsibility reporting .......................................................... 51 Conceptual framework of business ethics ......................................................... 63 Business ethics components .............................................................................. 70 Ethical decision making process ....................................................................... 78 Business ethics versus corporate social responsibility ...................................... 86 Business ethics and strategic management ........................................................ 99 Corporate social responsibility: research design ............................................. 113 References ....................................................................................................... 129 6 INTRODUCTION Corporate social responsibility appears to be a rapidly developing topic over the past 40 years, which started with the debate raised by Austrian economic school representatives on whether an enterprise needs to have any social responsibility beyond paying salary (to provide employees living), taxes (to ensure government with the money to implement social projects) and dividends (to improve investors’ well- being). Yet the mainstream research in corporate social responsibility indicated that participation in such activities leads to increased profits and better interaction with major enterprises’ stakeholders. Currently the majority of researchers agree that classical capitalism is unable to resolve social problems, so enterprises need to step in to improve well-being and correspondingly develop their image. Scholars have realized that Corporate Social Responsibility had changed corporate governance practices and led to realization of double goals achieved by corporations. This increased interest from the practitioners’ side enhanced research in the field and led to incorporating the ideas of corporate social responsibility into management curricula in business schools worldwide. At the current moment, corporate social responsibility was followed by an even more challenging concept, sustainable development. This concept required fulfilment of social, economic and environmental goals as a holistic result of organization’s functioning and development.
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