Ethics - Governance and CSR

Question: Discuss about the Ethics, Governance and CSR. Answer: Matters relating to public policy are serious thus the process of policy making involves a number of stakeholders. Anything that affects the public, whether directly or indirectly, also affects the business to a greater extent (Pestoff, Brandsen, Verschuere, 2013). Reasonably, this paper asserts the extent to which businesses should be involved in the public policy formulation. Dunn (2015) contends that the various problems encountered by the individual countries and the international community as a whole considerably affects businesses. For this reason, policy formulation and implementation should not be solely left in the hands of the government. When businesses render goods and services to the consumers, they are typically driven by the idea of the public good. The felt public goods and issues determine the businesses opportunities and risks. Additionally, they (goods and issues) are likely to influence the security, sustainability, and success of the individual communities or countries where the businesses are operated (Chin, Hambrick Trevio, 2013). Consequently, the businesses remain integral in the making of public policy. It is inarguable that some developing countries have bad governance. In such cases, the businesses should be transparent, consistent and accountable when it comes to public policy development. In other words, the businesses should remain aware of what they can do and what they cannot do. Business should thus be at the forefront to address both the institutional failures and the government's deficit (Hond et al., 2014). In conclusion, businesses play a significant role in the development of the public policy. Hence, they should highly be regarded in the policy development so as long as their involvement is transparent and accountable. References Chin, M. K., Hambrick, D. C., Trevio, L. K. (2013). Political ideologies of CEOs: Theinfluence of executives values on corporate social responsibility. Administrative Science Quarterly, 58(2), 197-232. Dunn, W. N. (2015). Public policy analysis. Routledge. Hond, F., Rehbein, K. A., Bakker, F. G., Lankveld, H. K. V. (2014). Playing on twochessboards: Reputation effects between corporate social responsibility (CSR) and corporate political activity (CPA). Journal of Management Studies, 51(5), 790-813. Pestoff, V., Brandsen, T., Verschuere, B. (Eds.). (2013). New public governance, the thirdsector, and co-production (Vol. 7). Routledge.