Educational Research

Educational Research (ISSN: 2141-5161) Vol. 4(9), pp. 634-641, September 2013. DOI: http:/dx.doi.org/10.14303/er.2013.119. Copyright © 2013 International Research Journals

 

Full Length Research Paper

Quo vadis corporate social responsibility in an age dominated by millenials

Angelo Nicolaides

Vaal University of Technology

E-mail: angelo@vut.ac.za

Received August 26, 2013; Accepted 11 September, 2013

Abstract

 

The article discusses the concepts of business ethics and corporate social responsibility which should be core foundations of what an organization does, as they exist in the emerging new South African economy. The intent is to delineate a framework upon which to construct and facilitate a better understanding of the contribution organizations should make to society in terms of the moral imperative facing them with regard to CSR. Globalization clearly has a huge impact on ethics and corporate social responsibility (CSR). How we should think about these issues is important and this should be done within the context of job creation. What are the kinds of issues we should be thinking about since the neo-classical revolution of the 1970s which supported the notion that ethics and CSR was the exclusive domain of philosophers? In the current global scenario, economic power is increasingly eroding political power and present-day information and communication technologies are emphatically empowering customers and other stakeholders. If organizations are to effectively respond to millennial customers and stakeholders who are very aware of and sensitive to business and social responsibility issues, they need to meet any moral obligation they have to society in general and not simply offer a façade of caring for stakeholders. Business and ethics should be redundant to each other since organizations should concurrently consider profits and societal support initiatives.

Keywords: Ethics, corporate social responsibility, millenials, accountability, sustainability.

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