Corporate Social Responsibility (CSR) In an Organization

1830 Words4 Pages
bulb-icon

Recommended: Essay define corporate social responsibility

As the industrialization and globalization have become more intense for decades, the concept of corporate social responsibility (CSR) becomes more advocated and is employed by corporation globally (Smith, 2011). However, despite an urge for performing “good” social roles, there still be numerous of organizations showing their unwillingness to fulfill their expected responsibility due to the controversy of how the concept should be defined amongst academia, businesses, and society, in addition to the conflict of interests between a firm’s shareholders and stakeholders that accounts mostly for difficulties in implementing CSR practices. Therefore, the purpose of this paper is to dig deeper into above problems by presenting the definition of CSR and the importance of its role in international business along with the difficulties arising when implementing its practices on global scale, especially in Vietnam. What Is Corporate Social Responsibility (CSR)? Since it is a rising issue in worldwide businesses nowadays, the concept of social responsibility (sometimes called corporate social responsibility, abbreviated as CSR, or corporate citizenship, triple-bottom line, social enterprise, and corporate governance, etc.) should be defined precisely. Griffin & Pustay (2013, p. 121) suggested that CSR is “a set of obligations an organization undertakes to protect and enhance the society in which it functions.” In other words, CSR is perceived as a social role that an organization is expected to play or an evaluation standard on how well a company manages their economic, social, and environmental influences. Hence, companies are facing rising demands to exercise their social responsibility toward their stakeholders such as employees, consume... ... middle of paper ... ...heorising the interconnectivity between corporate social responsibility (CSR) and corporate identity.Journal of Management and Sustainability, 3(1), 74-94. Retrieved from http://search.proquest.com/docview/1437977553?accountid=63189 Shubiri, F. N. A. L. -., Al-abedallat, A., & Orabi, M. M. A. (2012). Financial and non financial determinants of corporate social responsibility. Asian Economic and Financial Review, 2(8), 1001. Retrieved from http://search.proquest.com/docview/1417571919?accountid=63189 Slater, A., Thanatrakolsri, S., & Wokeck, L. (2013).Enterprise based approaches to economic development and poverty alleviation. In Business Briefing. Retrieved from http://www.csr-asia.com/publication.php Smith, R. E. (2011). Defining corporate social responsibility: A systems approach for socially responsible capitalism. (Master's thesis, University of Pennsylvania).

Show More
Related

  • Review and Discussion of the Article The Future of Corporate Social Responsibility by Duane Windsor

    713 Words  | 2 Pages

    Windsor, D. (2001). The future of corporate social responsibility. International Journal of Organizational Analysis, 9 (3): 225-256.

    Read More

  • Ethical Theories

    659 Words  | 2 Pages

    Social responsibility can be defined as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Mallen Baker, 2004). In addition, social responsibility has been defined differently by various corporate leaders that provide guidelines which impacts how one manages the core business. Social responsibility is an essential part of a business. If managed correctly should strengthen the competitive spirit of the company and provide prosperity to society.

    Read More

  • T.J. Maxx CSR

    1886 Words  | 4 Pages

    Corporate Social Responsibility (CSR) is the way a corporation achieves a balance between its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations. In general, when firms hold this wider encouraging role on the public by being engaged with stakeholders, a variety of profit can be produced for both company and the stakeholders. A key inclination is the combination of Corporate Social Responsibility (CSR) into the organization strategy, culture, mission and communications. By incorporating corporate citizenship into the company it is no longer an additional “nice thing to do” or something made to obey laws or regulations. Instead, corporate responsibility has become something business leaders and workforce want to engage in, frequently because executives who believe in the long-term see business profit. The four types of social responsibilities a...

    Read More

  • The Effects of Corporate Social Responsibility on International Business

    1540 Words  | 4 Pages

    Nowadays, corporate social responsibility (CSR) becomes an integral part of each company. CSR can be understood as a management concept and a process that links social and environmental issues in business operations to a company’s interactions with it’s stakeholders. CSR not only gives the company a chance to help society but also enhances company’s reputation and investors’ attractiveness. In this paper, we will show a brief description about CSR and effects of CSR on international business, including pros and cons when a company applies the CSR program. Besides that, I give my ideas on conflicts of interest beween shareholders and the company’s managers. And then, advantages and difficulties for companies implementing CSR in Vietnam will be defined. Although CSR was first introduced widely in Vietnam many years, it is still a new concept. Therefore, pioneers in this area are facing lots of challenges in running CSR programs in Vietnam.

    Read More

  • Path Dependence And Corporate Social Responsibility Case Study

    2116 Words  | 5 Pages

    For Zhang et al. (2014), CSR implies that companies should be responsible not only for their shareholders, but also for their stakeholders including suppliers, customers, and communities. Carroll (1979) identified four types of responsibilities that might be subsumed under CSR: economic, legal, ethical, and discretionary expectations. Economic responsibility means that companies are obligated to achieve profitability and satisfy customer needs. Legal responsibility indicates that companies must operate within the framework of legal regulations. Ethical responsibility includes some moral requirements. Discretionary expectation equals philanthropic responsibilities that contribute to society’s development and welfare. Wang and Juslin (2009) held that the western CSR concept does not fit the Chinese market and adopted the Chinese harmony approach to define CSR: enterprises should apply harmony to business and operate in a harmonious way between people and nature. The overall purpose of CSR should be cultivating humaneness, righteousness, ritual, wisdom, sincerity, and responsibility, and becoming a superior company. However, this concept is too abstract to conduct and few Chinese people can truly understand it without a deep understanding of Chinese culture. Many companies in China do not view CSR as an effective investment to improve organizational value unless CSR has considerable payoffs. In contrast to these misunderstandings, Stewart (2006) argued that companies and society actually have the same interests because enterprises cannot make profit in a corrupt, weak, poor society; and social progress can provide a healthy environment for company governance. As compared, Carroll’s (1979) definition emphasizes simultaneous achievement of a company’s economic, ethical, legal, and philanthropic responsibilities, which can be applicable to all countries. In this dissertation,

    Read More

  • General Electric's Corporate Social Responsability

    1774 Words  | 4 Pages

    According to Mike Peng, Corporate Social Responsibility (CSR) is the consideration and response to issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with traditional economic gains the firm seeks. CSR is a way in which a company seeks to achieve a balance between profit, environmental concerns and social imperatives. This is known as the ‘Triple-Botto...

    Read More

  • Corporate Social Responsibility Analysis: Wells Fargo

    958 Words  | 2 Pages

    An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.

    Read More

  • Corporate Social Responsibility (CSR), also known as Corporate Responsibility, and Corporate Citizenship

    1292 Words  | 3 Pages

    must work in tandem or there is no purpose for any of its existence. Unethical

    Read More

  • The Pros And Cons Of Social Responsibility

    1178 Words  | 3 Pages

    The arguments for and against corporate social responsibility have captured two points of view. Those who believe that organizations should not be concerned about social responsibility base many of their arguments on the costs involved and whether organizations should shoulder those costs on behalf of society. And those who are in favor feel that organizations benefit from society and, therefore, have an obligation to improve it. Although there is no universal agreement, surveys and other reports express that many organizations are, becoming increasingly active in addressing social

    Read More

  • Corporate Social Responsibility

    1916 Words  | 4 Pages

    Business organizations regularly run into demands from various stakeholders groups when conducting day-to-day business. These demands are generated from employees, customers, suppliers, community groups, governments, and shareholders. Thus, according to Goodpaster, any person or group of people that can shape or can be shaped by attainment of the objectives by an organization is considered a stakeholder. Most business organizations recognize and understand their responsibilities to these groups and endeavor to honor and fulfill them. These responsibilities are often communicated to the public by a statement of principles or beliefs. For many business organizations, corporate social responsibility (CSR) has become an essential and integral part of their business. Thus, this paper discusses the two CSR views: the classical view and the stakeholder view. Furthermore, I believe that the stakeholder view has brought ethical concerns to the forefront of businesses, and an argument shall be made that businesses would improve both socially and economically if CSR, guided by God’s love, was integrated into their strategic planning.

    Read More

  • What is the Stakeholder Theory?

    1076 Words  | 3 Pages

    ...t in becoming more socially responsible corporations. For example, Pos Malaysia through their CSR practices, this corporation had focuses on a dual-pronged approach that is aimed at bringing value to the community and nation at large by the means of enhancing education particularly towards the enhancement of human capital development mainly in underprivileged areas and also Enriching Communities in which Pos Malaysia seeks to promote commerce and entrepreneurship within the communities they serve particularly in rural areas. The above CSR themes are aligned with Pos Malaysia mission to constantly strive to be a caring corporate citizen by supporting nation building and community services. This CSR will focused on the meeting the need and interest stakeholder of an organization by becoming more socially responsible and as well as to improve their image and reputation

    Read More

  • Views on Corporate Social Responsibility

    1003 Words  | 3 Pages

    While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.

    Read More

  • Importance Of Corporate Social Responsibility

    1000 Words  | 2 Pages

    In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its

    Read More

  • Essay On Corporate Social Responsibility

    1275 Words  | 3 Pages

    Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...

    Read More

  • Essay On Business Ethics And Social Responsibility

    853 Words  | 2 Pages

    A company has an economic obligation. It must earn a favorable return for its stockholders in the restrictions of the law. But, corporate social responsibility means that organizations have also ethical and societal responsibilities that go past their economic responsibilities. CSR needs organizations to develop their documentations of their responsibilities to include other stakeholders such as workers, customers, suppliers, local societies, state governments, international organizations, etc. Ethics could be seen as a fundamental component of individual and group activities at the heart of organizations’ errands.

    Read More

More about Corporate Social Responsibility (CSR) In an Organization

Open Document