Corporate social responsibility

I note with increasing interest the inclusion of units in business and management courses requiring completion of business ethics, sustainability and the effects of globalisation on society. The business world is taking corporate social responsibility very seriously - this is a fantastic outcome.

Viewing course overviews at a number of universities; as a signatory to PRME, that is, Principles for Responsible Management Education, the steering committees consist of the United Nations Global Compact, Association of MBAs, Association of Asia Pacific Business Schools and other professional associations - this apparently is taken very seriously in the academic community.

Corporations such as Enron, Arthur Anderson, WorldCom, Lehman Brothers and Bear Stearns collapsed spectacularly on a worldwide basis. While more specifically in an Australian context Bond Corporation, Qintex, HIH Insurance and the One.Tel communications corporation all committed corporate fraud - that is one part of the ethical framework business must adhere to.

To meet the rigors of sustainability, employing an ethical strategy observing ethical principles need to embed the concept of triple bottom line into business activities. The corporate world is involved in development, major corporations have a role to play in sustainable development, aid programs and social inclusion.

I am very much in favour of ethics training with corporate social responsibility included. These principles should also extend to the corporate world paying its fair share of tax in the country of earning, what is currently happening is just wrong on so many accounts.