Business Ethics and Corporate Social Responsibility

Here we publish the article of one of the lecturers of the CSB Pilot Course at the Wisdom University College of Tirana, Prof. Ajla Ngjeliu

The recent events, such as Covid-19 pandemic has shown the importance of the cultural studies in Business. The global economy is suffering as a result of the lockdown measures. Nevertheless, many companies, such as Tesco, Uber, Facebook, Walmart, etc., showed their support to their employees and to society in general, by giving cash bonuses and letting elderly workers staying at home. In addition, the academic field showed their ability to transfer their knowledge through the technology, specifically through online lessons. As the teaching conditions changed, we had to adapt to the new constraints in a very short period of time. This is a very challenging situation that we have to face in our daily life.

As part of the Albanian academic team for teaching the Cultural Studies in Business course, I gave my online lectures on two topics Business Ethics and Corporate Social Responsibility. Teaching CSB topics was a great experience. This course gives the opportunity to the professors to explain the business and economics outcomes in a different perspective compared to the traditional economics. In my point of view, the syllabus of the course includes all the necessary topics for a Bachelor student to understand the importance of Cultural Studies in Business environments. I believe that this course will be valued and given the appropriate attention to the Economics and Business degrees.

During my lectures, the topics were mostly focused on case studies, so that the students could understand the importance and practical aspect of these topics. The concept and effects of ethics and corporate responsibility have been widely discussed in recent papers regarding the impact on corporate decision making and on society.

The main objectives of the first lecture were:

• The definition of Ethics

• Ethics’ philosophies

• The importance of ethics

• The difference between ethics and legal responsibilities

• The development of an Ethical Conduct

The main case study is the Madoff scandal, which was analyzed based on the ethics’ philosophies. Regarding the lecture on Corporate Social Responsibilities, the main objectives were:

• The definition of the CSR

• Triple Bottom Line

• CSR Approaches

• Implementing CSR

• Financial Market of Green, Social and Sustainability Bonds

The main case studies were Nike’s and Walt Disney CSR. These case studies showed the importance and implementation of CSR. The exercise on the recent pandemic was the main point of discussion in this lecture.

The feedback from the students was positive and these could be proved by the high number of participants during the lectures. The inclusion of the pandemic encouraged the students to ask questions and to have a more interactive lecture. Overall, the students were satisfied and keen to learn more about Cultural Studies in Business.

To conclude, this course will give a different approach to the economics classes. The students expressed the desire to know more about business culture applications. As already stated, this course will enhance the general knowledge of the students and help them take better decisions in the future as well as when faced in various business environments.

Article written by

Prof. Ajla Ngjeliu, Lecturer in Financial Management and Investments, Public Financing, Finance analysis. Active participant in the activities and projects of Wisdom University College (Albania).