Defining and Assessing Modern CSR Essay Example | Topics and Well Written Essays - 750 words

Defining and Assessing Modern CSR - Essay Example Ethical responsibility means the delivery treatment to the stakeholders in a manner that society previously prescribed as acceptable. All companies, especially the Oil Sands Development Corporation, must comply with Canada’s prescribed corporate social responsibility provisions. Further, the entities’ social responsibility is divided in two major areas. One area is economic in nature. The business entities’ survival is grounded on generating revenues. The revenues must be high enough to generate net profits. If the company does not generate a net profit in the current or future accounting period, there is high probability that the entities may file for bankruptcy. The usual step for a bankrupt company is to close shop. Next, another major area of the entities’ social responsibility is environmental responsibility (Hopkins, 2012). The nation compulsorily requires all companies to implement all environmental protection law provisions. The companies must not pollute the environment. The entities should never pollute the waters of our plants (rivers, lakes, and oceans). In addition, the entities should not pollute the air. The factories must build high smoke stacks to reduce polluting the community air. Further, one environment-friendly news report divulged one Canadian company’s blatant violation of its corporate social responsibility (Wingrove, 2013). Wingrove observed the Oil Sands Development Company’s business activities continue to pollute the nearby Alberta lakes. The Canadian government reiterated that Canadian companies can set up their business to generate profits. However, the Canadian government reiterates all locally set up companies should not violate any of Canada’s environmental protection statutes. The continuing pollution of the nearby Alberta lakes will snap out the life of the current and future marine life. The marine life includes the fishes and other