The Impact Of Corporate Politics On The Corporate World Essay

Over the years, the corporate world has been and continues to be plagued with high profile scandals and unethical business practices on the pretext of creating social and business values. For most global companies, corporate social responsibility and sustainability have become mere watchwords despite the fact they claim being their prominent company agendas. The reality is companies are too blind and ruthless to draw lessons from the past. Exxon’s Climate change controversy(1980’s), Nike’s sweatshop crisis (1990s) or even BP’s Deepwater oil spill (2010) are some of the most outrageous corporate scandals that shook the corporate world. Despite all these scandals, the recent Volkswagen’s emissions scandal (2015) is a clear indication that businesses will resort to any means to make money. These short-lived decisions have no doubt yet again created public cynicism in corporations and will continue to haunt their social accountability and responsibilit y. Volkswagon’s (VW) reputation, built up over decades, was in tatters overnight because of poor leadership vision and unethical business practices. Its emission scandal caught the corporate world gobsmacked and brought business ethics to the forefront and ripped into the stakeholder’s consciousness. What was supposed to be fuel efficient, eco-friendly people’s car turned out to be an environmental polluting monster, duping 11 million customers globally of their trust in the process. VW’s outrageous culture to mislead theShow MoreRelatedCsr : Corporate Social Responsibility Essay1285 Words   |  6 PagesCSR stands for Corporate Social Responsibility and it is a concept with many definitions and practices and also a buzzword in the media. In general, corporate social responsibility is the policies and programs of business corporations which tend to benefit society while improving a corporation’s public image and profitability at the same time. 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