The changing scope of corporate social responsibility: paradyms of immoral capitalism on the environment

×

Error message

User warning: The following theme is missing from the file system: journalijdr. For information about how to fix this, see the documentation page. in _drupal_trigger_error_with_delayed_logging() (line 1138 of /home2/journalijdr/public_html/includes/bootstrap.inc).

International Journal of Development Research

Volume: 
7
Article ID: 
9181
5 pages
Research Article

The changing scope of corporate social responsibility: paradyms of immoral capitalism on the environment

Dr. Kathleen Okafor

Abstract: 

Industrial and digital revolutions have transformed economies and created vast wealth for the world economy with the result that most of the companies involved in the globalised heritage have become politically powerful. However, pollution, labour challenges, exploitation of natural resources, environmental degradation, serious climate change issues, displaced communities, abuse of human rights have characterised capitalistic endeavours. This paper shows a general consensus that the ends and means of development must involve all stakeholders in shaping their respective destiniesso as to strengthen and safeguard society particularly the environment. Consequently, theparadym is no longer about companies integratingsocial responsibility precepts and better environmental practices in their business models on a voluntary basis but that of mandatory minimum legal obligations of companies towards society, the environment and other stakeholders. So many questions arise:Are states complying with the norms and laws.Do the systems processes provide for remedies?What level of corporate profit is required to ensure long-term business success? Can a company optimise profits, for shareholders so atavistically and immorally as to decrease its capability to influence and manage other stakeholders? Can companies improve their performance economically and financially by undertaking their core business in a manner that conforms with impact on the broader society.In short, is there morality in naked capitalism?

Download PDF: