A study on Covid 19's ethical repercussions on business and Corporate Social Responsibility
DOI:
https://doi.org/10.53983/ijmds.v11n03.003Keywords:
Covid-19, CSR, Ethical, Business ethicsAbstract
The purpose of this paper is to investigate various business approaches to the Covid-19 pandemic primarily from the lens of ethics. In addition to this, it intends to provide recommendations to businesses with regard to the role they play in combating the epidemic and the consequences of its spread during these trying times. Which choices should be made by companies in light of the current situation? What moral repercussions are necessary to carefully consider before taking any action? To what extent does the law take into account the complexities of issues pertaining to corporate social responsibility?
Downloads
References
Allen, T., Deopke, M., Olmstead-Rumsey, J. and Tertilt, M. (2020). The impact of COVID-19 on gender equality. NBER working paper No. 26947, National Bureau of Economic Research, Cambridge, available at: https://doi.org/10.3386/w26947
B. Lufkin (2020) ‘Coronavirus: The psychology of panic buying’, The BBC. Available at: https://www.bbc.com/worklife/article/20200304-coronavirus-covid-19-update-why-people-are-stockpiling
Bresnahan, K. (2019). Back to the ‘80s: Business roundtable’s “purpose” statement redux. Third Quart. 2019.
Butcher, B. and Massey, J., (2020). Are ethnic minorities being hit hardest by coronavirus? The BBC.
Clark, M. (2020). Apple and Google’s COVID contact tracing tech is finally coming to their home state of California”, The Verge, 07 December, available at: https://www.theverge.com/2020/12/7/22159842/apple-google-covid-contact-tracing-tech-california
Edelman (2020a). Edelman trust barometer special report on COVID-19 demonstrates essential role of the private sector. Edelman, March.
Edelman (2020b). Edelman trust barometer special report: brand trust and the coronavirus pandemic. Edelman, 30 March, available at: www.edelman.com/research/covid-19-brand-trust-report
Fairlie, R. (2020). The impact of COVID-19 on small business owners: evidence of early-stage losses from the April 2020 current population survey, Working Paper No. 20-022, Stanford Institute for Economic Policy Research, Stanford, 28 May, 2020, available at: www.nber.org/papers/w27309
Fisch, J.E.; Davidoff Solomon, S. (2020). Should Corporations Have a Purpose? Fac. Scholarsh. Penn Law 2020, 2163, 101–148.
Gonçalves, A. (2020). 3 Lessons Corporate CSR Can Learn from the Coronavirus Crisis. 8 April 2020.
Harmeling, C.M., Magnusson, P. and Singh, N. (2020). Beyond anger: A deeper look at consumer animosity. Journal of International Business Studies, 46(6), pp.676-693.
Ioannidis, J. P. A. (2020). Coronavirus disease 2019: The harms of exaggerated information and non-evidence-based measures. European Journal of Clinical Investigation, 2020, 50(4), available at: https://doi.org/10.1111/eci.13222
Kapla, S. (2020). Why Social Responsibility Produces More Resilient Organizations: Companies have more staying power when management decisions consider a diverse range of interests. MITSloan Manag. Rev. 2020, 62, 85–90.
Maslow, A.H. (1943). A theory of human motivation. Psychological review, 50(4), p.370.
O'Connor, M. (2020). ‘Coronavirus: Stay fit to fight the virus, say medics’.
Sneader, K., Sternfels, B. (2020). From Surviving to Thriving: Reimagining the Post-COVID-19 Return. McKinsey Risk Spec. Ed. COVID-19 Crisis. 2020.
Szejnwald Brow, H. (2020). Pandemic Exposes Vulnerability of U.S. Economy (14 August 2020).
Taleb, N. (2008). The Black Swan: The Impact of the Highly Improbable. London: Penguin.
Treviño, L. K. (1986). Ethical decision making in organizations: A person-situation interactionist model. Academy of management Review, 11(3), 601–617.
Werbach, A. (2009). Strategy for Sustainability. A Business Manifesto; Harvard Business Press: Boston, MA, USA.
Westerman, J.W.; Rao, M.B.; Vanka, S.; Gupta, M. (2020). Sustainable Human Resource Management and the Triple Bottom Line: Multi-Stakeholder Strategies, Concepts, and Engagement. Hum. Resour. Manag. Rev. 2020, 30, 100742.