Public Policy Change Please Respond To The Following

Public Policy Change Please Respond To The Followingthe Focus Of

Public Policy Change Please Respond To The Followingthe Focus Of

"Public Policy Change" Please respond to the following: · The focus of this course has been on the various ways businesses, stakeholders, ethics, and public policy relate to one another. Imagine that you are a senior government official with the power to implement one (1) change in public policy that would influence businesses, stakeholders, and business ethics. Specify the one (1) change that you would make, and examine the fundamental reasons why this change is necessary. NO PLAGIARISM. WRITER MUST HAVE AN UNDERSTANDING OF ENGLISH GRAMMAR AND SUBJECT-VERB AGREEMENT.

NO LATE WORK. NO ESSAYS. JUST ANSWER EACH QUESTION THOROUGHLY AND PROVIDE RATIONALE FOR EACH RESPONSE.

Paper For Above instruction

As a senior government official, I would implement mandatory corporate social responsibility (CSR) reporting for all businesses operating within the jurisdiction. This policy would require companies to disclose their environmental impact, social contributions, and governance practices annually. The fundamental reason for this change is to promote transparency, accountability, and ethical behavior among corporations, which ultimately benefits stakeholders and society at large.

Mandatory CSR reporting addresses a core issue in business ethics—namely, the conflict between profit maximization and social responsibility. Many companies prioritize short-term profits at the expense of environmental sustainability and social welfare. By requiring transparent disclosures, this policy would incentivize businesses to adopt ethical practices that align with societal values, reducing harmful practices such as pollution, unfair labor practices, and corruption.

The influence of this policy on businesses would be significant. Companies would need to integrate responsible practices into their strategic planning to meet disclosure requirements, fostering a culture of ethical accountability. Stakeholders, including consumers, investors, and communities, would gain access to critical information that enables informed decision-making, thereby increasing trust and loyalty. This transparency can also encourage investors to prioritize socially responsible companies, shifting capital toward more ethical businesses.

From a societal perspective, mandatory CSR reporting would contribute to sustainable development goals by highlighting environmental and social issues that require attention. It would also hold corporations accountable for their actions, reducing instances of unethical conduct and promoting a more equitable business environment. Critics might argue that it imposes additional burdens on businesses, but the long-term benefits of enhanced reputation, consumer trust, and societal well-being outweigh these concerns.

In conclusion, implementing mandatory CSR reporting is essential to fostering an ethical business landscape that balances profitability with social responsibility. This policy change would align corporate practices with societal expectations and promote sustainability, accountability, and stakeholder trust—benefiting all sectors of society.

References

• Carroll, A.B. (1999). Corporate social responsibility: Evolution of a definitional construct. Business & Society, 38(3), 268-295.
• European Commission. (2014). Non-financial reporting: Expected benefits and associated costs. European Union.
• Freeman, R.E. (1984). Strategic Management: A Stakeholder Approach. Pitman Publishing.
• Kang, J., & Moon, J. (2012). Corporate social responsibility in the Korean context: Roles and challenges. International Journal of Corporate Social Responsibility, 1(1), 31-45.
• McWilliams, A., & Siegel, D. (2001). Corporate social responsibility: A theory of the firm perspective. Academy of Management Review, 26(1), 117-127.
• Porter, M.E., & Kramer, M.R. (2006). Strategy and society: The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78-92.
• United Nations. (2015). Transforming our world: The 2030 agenda for sustainable development. United Nations.
• World Economic Forum. (2020). Measuring stakeholder capitalism: Towards common metrics and consistent reporting of sustainable value creation. World Economic Forum.
• Zimmerman, M. A. (2002). Takingoh old responsibility: Corporate social responsibility and ethical business practices. Business Ethics Quarterly, 12(2), 273-298.
• Yan, G., & Kong, D. (2016). The impact of CSR on consumer behavior in China. Asia Pacific Journal of Marketing and Logistics, 28(2), 266-284.