An organization may decide to adhere to different philosophi

An organization may decide to adhere to different philosophies of corporate responsibility when confronted with different issues, or it may keep its philosophy always the same. What are the advantages of each approach? at least 300 words please

Solution

Philosophies of corporate responsibility is developed after taking into consideration the moral, ethical and philanthropic responsibilities of an organization towards its employees, suppliers and vendors, customers, the local community, the society at large and the environment. The philosophy takes into consideration different responsibilities of an organization within the domain of economic, ethical, legal and discretionary responsibilities.

When an organization decides to adhere to different philosophies of corporate responsibility when confronted with different issues the key and the primary advantage is that the organization will have the flexibility to develop forward looking actions that will help it take decisions that will have the maximum positive impact on the society. With the power of flexibility organizations can tweak their philosophies and actions to implement decisions in a manner that will have the desired impact on the issues that they are tackling. For example many organizations look to tackle environmental issues by reducing their carbon footprint, making their product and processes eco-efficient and increasing their economic efficiency. But with the rapid progress of technology and with the ever changing requirements and circumstances organizations will have to change their policies and practices as per the need of the situation. For instance beverage manufacturers like Pepsi and Cola have to be flexible to reduce their water consumption as the technologies being used in the past have become outdated and cannot be used anymore. Thus having the flexibility to adhere to different philosophies will arm them in a better manner to tackle the challenges of corporate responsibility.

The advantage of keeping the philosophy always the same will be that the company will have a standard that it can refer to while determining whether their actions are legal, ethical and economic. Having the same fixed standard will make decision making and policy implementation easier for organizations and this will help them in increasing their speed and efficiency with regards to corporate responsibility.

(315 words).