Ethical Corporate Social Responsibility in Decision Making

Ethical Corporate Social Responsibility in Decision Making
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Ethical Corporate Social Responsibility in Decision Making
Introduction
Globalization has made the world to be more interconnected through trade and the exchange of culture. Technological development in transportation, communication, freedom of trade, and availability of up-to-date skills and labor have enabled firms to cope up with the changing world. According to the book written by Lawrence & Weber (2019) Several parts of a business work together to ensure its success. They include; Consumer, Competitor(s), Channels of Distribution, Media, Strategy, Marketing, Operations, and Finance. Each of these parts has people put in place to ensure the smooth running of the business. Managers in organizations have several roles like; tackling performance problems, backing up problem-solving, decision-making, and evaluating the production at the right time. They also engage in translating corporate objectives to practical individual goals, monitoring the output, and starting an act to build up the outcome that are socially responsible. This paper will discuss how important it is to include ethical corporate social responsibility in decision-making in Saudi Aramco.
Saudi Aramco is a multinational company that is involved in producing chemicals and energy and chemicals that are part of people’s daily lives all over the world. Saudi Aramco is one of the famous companies that incorporate ethical social responsibility in their daily activities. The company embraces Corporate social responsibility to impart a difference in the vision of the society of altruism, advocate, or charitable. It does this by participating in practices and decisions that are ethically oriented. Cooperate social responsibility, in general, is acknowledged as a planned enterprise associated with developing a brand's reputation. Their Corporate Social Responsibility enterprises are aligned and joined reasonably to the model of their business design to be effective.
According to Lin and Liu (2017), CSR implementation also includes actions that promote benefits beyond the law's interests and requirements. Just like other firms Saudi Aramco undergone tremendous rewards as result of CSR. It has enabled Saudi Aramco to build its reputation in the market thereby gaining more competitive advantage. Customers view Saudi Aramco as a firm that have responsible policies and strategies. That can apply to any business, regardless of its size or sector.
In addition to that, the firm may use CSR in ethical or strategic developments. Increasing firm’s sales and output as a development strategy is highly influenced by CSR. The products then willingly display their constructive results by the response given by the customers. Benefits brought by CSR increase when there is positive growth in public relations and high ethical values, legal risk is reduced (Agudelo et al., 2019).
When company managers pay keen attention to their stakeholders, they make excellent and effective decisions that will positively influence their effects. CSR policies motivate companies in making positive aftermath on the environment and stakeholders ...