Response 2
I support your take on circular economy and corporal social responsibility. You have expressed the case for corporate social responsibility as an essential component of a sustainable business model comprehensively. Your arguments about the need for business entities to increase their engagement in corporate social responsibility are right. This is because business entities do not exist in a vacuum. On the contrary, business entities operate in a complex and interdependent web of ecosystems, which include consumers, suppliers, competitors, and the entire society (Sales, 2019). Consequently, business firms have an inherent obligation to give back to society and to engage in activities that preserve scarce resources (Schmidpeter et al., 2019). Although corporate social responsibility is somewhat a voluntary and open affair, you have done well to assert the increasing need for business firms to view corporate social responsibility as a necessary component of business survival in the long run.
Although corporate social responsibility is closely related to the concept of the circular economy plays a more profound role as a sustainable business practice (Schmidpeter et al., 2019). I think you should have expressed the critical role of a circular economy in enhancing sustainable economic and business practices more comprehensively. For instance, you could have put more emphasis on how circular economy safeguards the prospects of resource conservation and preservation with a view of making such re4soyrces available for future generations.
Finally, I do not support the opinion that corporate social responsibility presents an ideological contradiction that expects business firms to give back to society while at the same time, charge reasonable prices. Actually, business organizations should not just focus on maximizing profits in the short run without trying to make their operations sustainable in the long run.
References
Schmidpeter, R., Capaldi, N., Idowu, S. O., & Stürenberg, H. A. (2019).
International dimensions of sustainable management: Latest perspectives from corporate governance, responsible finance and CSR. Cham, Switzerland : Springer.
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Sales, A. (2019). Corporate social responsibility and corporate change: Institutional and organizational perspectives.
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