Part A: Challenges of CSR and Climate Change Globalization
Corporate Social Responsibility (CSR) is a critical facet that organizations should rely upon to enhance their fight against climate change at the global level. Corporate social responsibility is incorporated in various ways to facilitate the fight against climate change, including sanitary initiatives focused on such aspects as cleaning water bodies and the environment. CSR is applicable in various ways, including the use of recyclable and reusable packaging material to limit the number of wastes that get into the environment.
The unique challenges associated with reliance on corporate social responsibilities in the fight against climate change comprise the fact that establishments engage in different measures toward CSR. Organizations should adapt to the environmental and political constraints surrounding them by incorporating appropriate CSR strategies (Abdalla & Faria, 2019, p.89). There are some organizations and countries that are active in the fight against climate change challenges through the use of integrated strategies that embrace corporate social responsibility. There are, however, other organizations and countries that disregard the venture. The outcomes of the ventures are minimal as operations of the various groups contradict.
Within the international system, climate change policies do not apply uniformly to all the states. The more developed countries have the responsibility of engaging in more rigorous actions in comparison to the developing and less industrialized countries (Nguyen, Kelly & Bensemann, 2017, p.11). The lack of uniformity in the engagement criteria results in reduced results as the initiatives of the more active countries is out washed by the activities of the less involved states (Klinsky et al., 2017, p.117). With the decline of the steering capacity of nations, the move for production and economic improvement in organizations has explicitly relied on other states. The result of this factor, consequently, makes the initiatives of social corporate responsibility expensive on organizations and companies. In the effort to improve their profitability, companies have significantly overlooked the element of corporate social responsibility.
Part B: Government Regulation in A Market-Oriented Society
As stated by Birch et al. (2017, p.115), politicians and policymakers play an essential role in creating policies and procedures that enhance the control, supervision ad monitoring of business that takes place within a market-oriented society. These activities are conducted through the use of established agencies that are meant to align political aims with far-reaching benefits on the public. In the market-oriented societies, there has been a revival of regulations that are meant to address the current issues within a society. The regulations take place in different forms, including mandates, information requirements, standard-setting, and restrictions (Birch et al., 2017, p.115). In such societies, the significant characterization is the free will of the population to engage in business ventures and trading elements. Business regulations contribute significantly as they form part of organizational, legal, and political norms that are meant to achieve the best outcome for the public (Birch et al., 2017, p.115). Therefore, they form the basis under which all organizations shape their business operations.
Birch et al. (2017, p.116) incorporate the public interest theory, which conceptualizes government regulation in business as an aspect that arises as a result of widespread failures within the market. According to the public interest theory, it is essential to look like the issues that bring rise to a market failure to gain an understanding of sources of the downfall. The three significant aspects recommended by Richard Wallen as ones that could be evaluated include limits to competition, negative externalities, and imperfect information (Birch et al., 2017, p.117). Additionally, the authors recommend the use of the theory of government failure in evaluating regulation processes by the government. According to the theory, the overall public interest could be shaped by controlling and reducing the costs being incurred within the society (Birch et al., 2017, p.117). The government acts as a defender of the market to ensure that there are no exploitations of various forms with regards to the multiple elements in the market.
Abdalla, M. M., & Faria, A. (2019). Local development versus neoliberal globalization project: reflecting on market-oriented cities. Revista de Administração Pública, 53(1), 84-100.
Birch, D. K., Peacock, M., Wellen, R., Hossein, C., Scott, S., & Salazar, A. (2017). Business and society: A critical introduction. Zed Books Ltd, 115-124.
Klinsky, S., Roberts, T., Huq, S., Okereke, C., Newell, P., Dauvergne, P., & Keck, M. (2017). Why equity is fundamental in climate change policy research. Global Environmental Change, 44, 170-173.
Nguyen, M., Kelly, S., & Bensemann, J. (2017). Contextual factors affecting Corporate Social Responsibility in an emerging country: A Conceptual Framework on the nature of the CSR concept in Vietnam. ResearchGate. Available online: http://www. researchgate. Net/publication/317579309/(accessed on 15 July 2019).