Corporate Governance & Social Responsibility

Name

University

Course

Tutor

Date

UK is among the best ranked countries that have the largest purchasing power parity (PPP ) due to the steady stability of their economy . During the second industrial revolution the economic status of UK was stagnated because of the negative impact caused by the two world wars and the demolition of the British Empire (Habisch et al , 2005 . The effort undertaken by the UK government to recover economic stability and growth bore fruits in the 21st century where the Gross Domestic Product (GDP per

captia of the country greatly improved due to the low unemployment level which is approximately 2 (Habisch et al , 2005 . However , the economic crisis that is being experienced globally may return the economy of the country into the same pit hole if emergency strategies are not implemented . Inflation could easily nosedive the stability of the economy due to the high cost of living experienced in UK . The escalating prices of necessary commodities such as oil and food stuffs is worsening the situation because statistics show that the GDP of UK in 2007 was 3 .1 , in 2008 it was 2 .3 and later on in 2008 it had reduced to zero (Habisch et al , 2005 . Therefore the strategies that guide corporate governance and corporate social responsibility (CSR ) should be evaluated to help deal with the financial turmoil and high prices of commodities especially those being imported (Habisch et al , 2005

The organizational culture of the industries available in UK needs to be...