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Ethic and Corporate Social Responsibility

Corporate social responsibility according to Bowen (1953) is the commitment of an organization or business to pursue policies and decisions geared towards actions desirable and valuable to the society. The main idea behind this is that business ventures have a responsibility to the society beyond profit making for their shareholders (Shabana and Caroll, 2010). For this assignment, I chose too critically to examine Barclay Bank’s corporate social responsibility.

Barclays Bank ethics

Barclays Bank is considered a partners that is trusted by business across Asia, Africa, Europe and the North America with a turn over of more than 5 million British Pounds. In June 2012 the bank made a business decision and launched the Barclays Citizenship Plan that bears the following three commitments: Contribution to growth, way the bank does business and the support to local communities (Barclays, n.d). This has been reflected of late by the commitment of the bank to improve youth employability through its apprenticeship programs as well as the work experience programs. This business decision is based on the banks commitment make profits with a consideration of future’s relationships and not at the expense of the society (Barclays, n.d).

The move too to the ‘Citizenship’ business decision is by the realization that banking and finance play a important role in effectuating social and economic progress, growth and development with the right approach incorporated (Barclays, n.d). The decision seeks not only to produce and support the production of products that are commercially viable but also beneficial to the society and of positive impact to communities where the bank operates. Over and above the banks core business, the Citizenship Program plays a major role in engaging with the community through community investment programs through direct efforts of the banks employees (Barclays, n.d). Collaboration and consultations too are incorporated in the program to help address global challenge that include employability, human- rights, entrepreneurship and climate change. These dialogues and consultations on these issues help inform the bank’s policy and decision making (The Barclays Way, n.d).

The bank’s business decision on ‘citizenship’ has a number of ethical; implications associated with it. This is tied to the fact that by the bank conducing its business in such a manner it promotes economic development as well as inclusive prosperity for generations: current and future ones. In supporting governments and civils society organizations, the bank upholds the human rights principles in their operations in accordance with the universal Declaration of Human Rights and the International Bill of Human Rights (The Barclays Way, n.d). This has been reflected in the bank’s statement on Human Rights that covers the role of employers, provision of financial services to clients and the purchase of goods and services. Through this, the bank upholds integrity, challenge issues of concern in a clear and a fair manner, foster and effectuate diversity within the workforce, uphold zero tolerance approach to harassment and bullying, take individual accountability for high achievement through coaching and support, respect for everyone, upholds freedom of association and constructive participation of employees in decision making as well as providing safe and healthy working environment.

Further, the bank ethically demonstrates respect for the environment by addressing environmental impacts. It does so by identifying, prioritizing and managing environmental risks directly by consumption and disposal of resources within its operations and indirectly through green supply chain management(The Barclays Way, n.d). In addition to this, the bank engages in community investment through voluntary business support as well as through national and international investment programs. This helps communities and individual strive for financial independence and security.

By considering this ethical implications, the banks decision making process is likely to be affected in a number of ways. This may include the bank identifying the impact of their decisions and making evaluations of the environmental, social and ethical impact that are critical in customers financial propositions, supply chain relationships and product development(The Barclays Way, n.d). The implications may also help the bank manage its responsibility in supporting the government and civil society organizations in upholding the human rights, managing own environmental performance, seeking ways to harness resources to contribute to society and community development.

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