University of Phoenix
October 20, 2008
Corporate Social Responsibility in Comparative Perspective defines corporate social responsibility as a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, stakeholders, and the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and see organizations voluntarily taking further steps to improve the quality of life for employees and their families (Williams and Aguilera, 2008).Gene One was trying to implement corporate social responsibility as a segment of focus for the company. Most prominent companies practice social responsibility as a duty and obligation. Gene One’s major focus is to try to establish IPO capital in order to be recognized by the business world as a reputable company. By establishing sound corporate social responsibility practices, they will be assuring their future stakeholders that their interests will be protected and in the best regard of the company. Wells Fargo and Company has established a two prong program of corporate social responsibility that would be notable benchmarking company for Gene One to follow. Wells Fargo and Company has been in existence for 150 years.
According to the Market Business Weekly, Wells Fargo launched their new Wells Fargo Advantage Social Sustainability Fund. The fund will employ a two-pronged approach to its investment strategy: The fund's managers will use an inclusive screening process to invest in companies that have positive traits related to environmental, social, governance factors, and avoiding stocks such as alcohol, tobacco, gambling, or weapons manufacturing companies. Gene One will benefit by opening this opportunities of the same screen process and characteristics of it traits. This will transcend the outlook of the company providing a productive and positive...