Question: The general idea behind the Community Interest Companies (CIC) is to have available a custom made legal vehicle for community and social enterprises where the profits are to be made available for public work.
However, a more focused Community Interest Test is in place which has been said to make the implementation of such companies impossible. Further, it has been said that the Regulator of CIC does not seem to have proper guidance as what constitutes a Community Interest Company.
Do you agree with the above statement?
Discuss.
DETAIL: 2nd Year, Undergraduate, Company Law, University of Liverpool
SUBJECT: COMPANY LAW ASSIGNMENT
MARK ACHIEVED: 62%
GRADE: B
Answer: Corporate Social Responsibility (CSR) refers to “actions that appear to further some social good, beyond the interests of the firm and that which is required by law.\" (McWilliams and Siegel, 2001) The Economist’s 2008 report on CSR says that ‘it is made up of three broad layers, one on top of the other’ being one devoted purely to CSR as ‘traditional corporate philanthropy’, CSR as a branch of ‘risk management’ and CSR as an ‘opportunity-based enhancement of business value and competitive advantage’. From the statement above, it is clearly illustrated that glossy corporate social responsibilities reports are more often than not forms of greenwashing that often do not reveal the grim realities behind them. A good example would be the collapse of Enron, an American ene......(short extract)
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Details: - Mark: 62% | Course: Company Law | Year: 2nd/3rd | Words: 2991 | References: Yes | Date written: December, 2013 | Date submitted: April 24, 2014 | Coursework ID: 866
