The Social And Environmental Impacts Of Corporate Social Responsibility

729 Words2 Pages
bulb-icon

Recommended: Corporate social responsibility is quizlet

4.1 Introduction Corporate Social Responsibility (CSR) is defined as the voluntary activities undertaken by a company to operate in an economic, social and environmentally sustainable manner.It is a global standard. It’s not what people think. It means that the Standard Operating Procedures(SOPs) must be ethical from the beginning to the end; every input that is put into the company to the output, needs to be ethical and accountable to the people. It needs to provide high quality products and services that leave a smaller carbon footprint. So that is in the end, being responsible. Corporate relates to anything that has to do with profit. CSR is always associated by people with non-profit, but companies work for profit only. CSR is a responsibility, …show more content…

It looks at the supply chains, to see if the company is leaving less of a carbon footprint, so that there’s an environmental impact on it. CSR has impacted the community in both ways; a positive way or negative way. CSR aims to make sure that the products and services impact our community in a positive way. So, in a way, companies do give back to the community. In the Middle East, everybody looks at charity. So that does get incorporated. And that is not what CSR is. Corporate philanthropy is completely different from CSR. But it’s related because a lot of people think philanthropy is CSR here, so its quite often merged, including in this bank. Earlier Emirates NBD only looked at charities, blood donations, collecting clothing for earthquakes and so forth. This is good for companies, but it looks more at the culture, like employee …show more content…

Once that is measured, everything from the amount of electricity that is being used to what vendors the bank is dealing with. For example, there are labourers who work in the office, the bank needs to make sure it’s coming from an ethical vendor and making sure that they’re actually paying their staff and that they have proper housing. This is our responsibility as a customer to another vendor. The bank has a huge buying power and the bank is responsible for that. That is why, companies need to adopt CSR. Giving back to the community, that’s part of the culture that the bank presents. But CSR is very separate and it needs to be conducted to make sure we don’t make the world worse off than it is, meanwhile making

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

  • Corporate Social Responsibility Case Study

    1129 Words  | 3 Pages

    Corporate Social Responsibility (CSR) is a word that is bandied about with really little regard as to what the full implications actually are. Consider a few thoughts: What exactly is a corporation’s responsibility? Who are the arbiters of CSR for corporations? What does it cost to “rein in” corporations? Why are some companies held to a different standard than others?

    Read More

  • Corporate Social Responsibility Analysis Of Tom's Company

    1027 Words  | 3 Pages

    Corporate social responsibilities (CSR) have a different meaning in different company but in my view CSR is the concept which is the ability one of the companies can do for society. As the company responsibilities toward the society and environment in the way operate their business. CSR is about how companies manage the business processes to produce an overall positive impact on society. CSR also known as a “corporate citizenship” and with do that CSR is not provide an immediate financial benefit to the company but promote positive social and environmental change. (www.investopedia.com/terms/c/corp-social-responsibility). CSR is a high profile nation which the business world perceives as a strategic (Economist, 2008; Porter & Kramer, 2006)

    Read More

  • The Importance Of Corporate Social Responsibility

    2501 Words  | 6 Pages

    Corporate Social Responsibility, some may say it is an organization's duty to behave in an economically and environmentally acceptable manner but there is more to it that just that. A company has a duty to its shareholders, the duty to maximize benefits and avoid trouble, a responsibility to the employees and others who depend on that company for a living , and last but not least they have the duty to create a safe environment for everyone. A Civil Action by Jonathan Harr depicts a civil lawsuit that takes place in the United States. The lawsuit is filed by residents of a small town, Woburn, in Massachusetts, against two powerful corporations, Beatrice Foods and W.R. Grace, for polluting the water in the local river with carcinogen TCE and causing the deaths of many children. A Civil Action by Jonathan Harr demonstrates that the issue of Social Corporate Responsibility is prevalent throughout the piece but because of the adversary system of law there is no place for apology just winning for both parties.

    Read More

  • The Effects of Corporate Social Responsibility on International Business

    1540 Words  | 4 Pages

    Corporate Social Responsibility (CSR) is the set of regulations that an organization makes to protect and increase the society in which it functions. There are three areas of social responsiblity: Organizational stakeholders, the natural environment and general social welfare.

    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

  • Discuss The Impact Of Social Innovation On Corporate Social Responsibility

    1195 Words  | 3 Pages

    In the present market economy, social innovation should not replace Corporate Social Responsibility (CSR) but should enhance it. Some scholars have shown that whereas innovation has been an integral part of a company’s survival it was not part of CSR (Carroll and Shabana, 2010). In the past, CSR was applied in areas of citizenship duties and operation licences; however, this is not sufficient in the modern complex business environment (Googins, 2013).

    Read More

  • Pros And Cons Of Corporate Social Responsibility

    1485 Words  | 3 Pages

    I begin this essay by defining CSR, there are many definitions for this term by various different theorists, and EU says that CSR is "A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis." On the other hand, Sloman et al. define it as "The concept in which a firm takes into account is the interests and concerns of a community rather than just its shareholder". Davis and Blomstrom (1966), say it "Refers to a person’s obligation to consider the effects of his decisions and actions on the whole social system". These definitions differ from one another in many ways but they agree that CSR involves taking the environment into account and therefore, one must look take social responsibility.

    Read More

  • Aspects Of Corporate Social Responsibility

    1024 Words  | 3 Pages

    resources of society could be used by the corporation to make profi ts as long as the corporation

    Read More

  • Article Review: The Importance Of Corporate Social Responsibility

    1093 Words  | 3 Pages

    In the article, The Truth About CSR by Kasturi Rangan, Lisa Chase, and Sohel Karim, the importance that coherence plays in corporate social responsibility (CSR), is emphasized. Throughout the article, corporate social responsibility application, within corporations, is broken down into three theaters. According to the article, many corporations do not focus on their CSR programs, and usually see these CSR actions as a secondary responsibility following the responsibility they hold towards their shareholders. It is argued in the article that in CSR is a key and essential block for corporate success, focusing on CSR coherence throughout all three theaters will bring positive results along the way, possibly making the corporation

    Read More

  • Corporate Social Responsibility has Risen to Prominence

    583 Words  | 2 Pages

    There are now several concepts of CSR and its definition, along with the meaning across corporations. In my opinion, and according with our textbook in page 11. CSR is about a particular set of business and strategies that deal with social issues. In addition, we can clearly perceive that CSRs application along corporations has increase in the past decade due to the several local, and international regulations in order to enforce business to act responsible.

    Read More

  • Corporate Governance and Social Responsibility in Business

    3628 Words  | 8 Pages

    Masaka, D (2008) Why forcing corporate social responsibility is morally questionable, Electronic Journal of Business ethics and organizational studies, 13, 1 pp. 13-21

    Read More

  • Nike Supply Chain Case Study

    2080 Words  | 5 Pages

    1, 2010). Incorporating sustainability into business goals and culture has become more than just the ethical thing to do, it can give a company a competitive advantage and increase their bottom line returns (Oppenheim & Stuchtey, 2015). Additionally, businesses that practice environmental ethics such as reducing emissions, efficient allocation of scarce resources, recycling, and reducing energy consumption benefit from increased trust and brand loyalty (Ewing-Chow & Soh, 2009). Some ethical activities, such as reduced energy consumption, have obvious benefits for a company because they reduce the cost of production. For a financial institution, electronic banking channels can decrease labor costs while electronic statements reduce cost of production. Both of these are environmentally beneficial as electronic banking channels allow customers to conduct business without driving to a brick-and-mortar branch and electronic statements reduce paper consumption. An added soft benefit is as customers enjoy the convenience of these services brand loyalty is expanded for the bank. Corporations that do not demonstrate environmental ethics may suffer adverse consequences. For example, a company that is caught illegally dumping toxic waste will not only face fines and potential criminal charges, but public fallout as consumers may boycott the company’s product to show such behavior will not be tolerated. For all these reasons, it is vital that companies address environmental concerns in their ethics

    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

    It is important to understand the importance of corporate social responsibilities. If Corporate Social Responsibility is properly maintained and emphasized by companies, it can benefit the society, economy and corporate sustainability. It can also be cost efficient to companies. also the environment . But above all effect (CSR) varies companies to companies. Where some corporates seem to make all sorts of benefits from their coporate social responsibilities but few of them are also having loss by trying to maintain CSR without properly evaluating their resources. (Porter and Kramer 2006) has said The inferences where corporates need to evaluate their CSR actions to figure out if they add

    Read More

More about The Social And Environmental Impacts Of Corporate Social Responsibility

Open Document