Confucius’ Teachings and Corporate Social Responsibility

Kim Cheng Patrick Low () and Sik Liong Ang
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Kim Cheng Patrick Low: University of South Australia
Sik Liong Ang: Universiti Brunei Darussalam

Chapter Chapter 5 in Corporate Social Responsibility, 2013, pp 67-85 from Springer

Abstract: Abstract Corporate social responsibility (CSR) has been continuously seen to be a key issue in today’s global business economy. The authors feel that business managers, government leaders and academics have made insufficient attempts to address and attend to CSR issues and challenges from the global perspectives. So far, just to name a few, we have seen global warming, terrorist attacks and corporate and financial institutions collapse; besides, business scams, fraud and bankruptcies and other unethical practices. Greed is foolish and irresponsible. Executive greed in the United States, Europe, China and other parts of the world can only show the serious and appropriate need for good governance and corporate social responsibility (Kothari, Executive Greed, Palgrave Macmillan: New York, 2010; Low, Leadership and organizational manage 2009:40–59, 2009c; Low and Ang, i-manager’s J Manage 5:8–20, 2011). There have also been increasing concerns of ageism such as how one can be treated ethically, and how one can age positively in a caring society (Low and Ang, J Res Int Business Manage 1:293–303, 2011; Low, Conflict Resol Negot J 2011:29–39, 2011; Low, Insights to A Changing World 2006:133–150, 2006). Faced with increasing business turmoil and rising concerns of ageism, it is crucial that leaders and managers actively seek fresh ways of thinking and actions in applying business ethical principles in decision making as well as tapping the experiences of the seniors; it is indeed necessary to sustain their business performance and growth in line with CSR in a global setting. Here, the authors interpret and present Confucian or Asian lessons on learning, self-cultivation, self-discipline, self-growth, relationships with family members/ others and social responsibility based on Confucius’ wise teachings. Interestingly, Confucius’ teachings stress on social obligations, ethical decision-making, positive business dealings and harmonious relationships and the value of learning and education; these bring benefits and excellent practices including good business management and corporate social responsibility. The understanding and practices of Confucius’ teachings and social obligation in a business organization coupled with awareness and applications of corporate social responsibility can bring much peace, harmony, learning and economic growth for both the organization, the community well-being and nations in the region.

Keywords: Corporate Social Responsibility; Stakeholder Theory; Golden Rule; Filial Piety; Confucian Ethic (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-642-40975-2_5

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DOI: 10.1007/978-3-642-40975-2_5

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