Essay on Corporate Social Responsibility in Sports
Over the past several years the sports industry has grown phenomenally, and it now ranks among the largest industries in the world. Concomitant with its growth is an increase in the importance of a element of value which is the corporate social responsibility which has become a necessity in terms of the bottom line. Illegal and immoral activities in all settings have emerged to the point that some factions of the society have made efforts to call those in charge to take responsibility and improve situations. As managers learning to adopt a social consciousness leading to a commitment of being socially responsible is paramount to the execution of one’s job. Developing a social …show more content…
From a business ethics perspective, Robin and Reidenbach point out the concepts of the business organisation is created by society and its agents and therefore must meet the expectations of that society or “pay the price in consumerist and anti business legislations” (Robin and Reidenbach, 1987, p.49). If the expectations are transferred to ethical theory, it is possible to use them in the development of organisational values. They further noted that social systems utilize aspects of both deontology and utilitarianism in the formulation of their laws and social policies. For example, in the United States the cost benefit analysis, a principal component of utilitarianism, is a tool of major importance in policy making at the national, state, and local levels.
3. Factors leading to its Emergence:
Every aspect of business has a social dimension. CSR encourages open and transparent business practices that are based on ethical values and respect for employees, communities and the environment. It is designed to deliver sustainable value to society at large, as well as to shareholders.