By Using Corporate Social Responsibility (Csr) the Tobacco Industry Is Seeking to Change Their Unethical Public Image. Evaluate This Strategy Using Three Ethical Principles of the Global Business Standards Codex. Essay

872 WordsAug 10, 20124 Pages
Corporate social responsibility is a business’s obligation to maximise its positive impact and minimise its negative impact on society (Ferrell, O. C 2011). The Global Business Standards Codex; fiduciary principal, transparency principal and the citizenship principal are most suitable to evaluate the tobacco industry's method of using corporate social responsibility to change their unethical public image. The tobacco industry facing issues such as marketing and advertising, conflicts of interest and public criticisms have all taken part in creating that unethical public image and by using corporate social responsibility they may have a chance in obtaining back that positive public image. The tobacco industry is expected by its stakeholders to act ethically in its business decisions. As part of the legal structure of the business organisation, the firm officers and directors within the tobacco industry have a legal fiduciary to act in the best interests of the stakeholders within it's firm (Campbell 2011). However conflict of interests within the stakeholders tends to occur as each one may have different objectives on what they want the directors and mangers to follow through on. For example when a person must choose whether to advance his or her own personal interests or those of other is know as a conflict of interest and it is one of the most common ethical issues that occurs in the workplace today (Ferrell, O. C 2011). Thus, if the tobacco industry continue to act ethically in its business decisions then it will create positive impact on the public perspective on this industry. In the past, by using corporate social responsibility the tobacco industry has been criticised by many, it was seen to be a paradox as they were marketing a product identified by health authorities as the major preventable cause of disease and premature death (Barraclough & Morrow

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