Corporate Social Responsibility : Csr Essay

Corporate Social Responsibility : Csr Essay

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Over the past ten years, a growing trend of corporate social responsibility (CSR) emerged (Chernev & Blair, 2015). Some believe the CSR movement began post corporate financial scandals from companies such as Enron, WorldCom, and Tyco, as investors wanted to see reform and better corporate responsibility (Boerner, 2010). A 2007 survey of CEOs revealed that approximately half of the respondents included sustainability as part of their corporate strategies (Boerner, 2010). A similar CEO study conducted in 2010 indicated that CEOs who embraced sustainability believed that it strengthened their brand, reputation, and built trust among their stakeholders (Boerner, 2010). The surge of corporate sustainability also included environmental and social implications. What this means is that CSR engenders a new breed of stakeholders whose interests include holding corporations accountable to environmental and social benchmarks. Corporations that are not yet convinced of CSR benefits should take lessons from companies such as Nike and The Home Depot, as these corporations fully embrace social responsibility, providing visible evidence of their organizations’ socially responsible values (Epstein, Buhovac, & Yuthas, 2010). Managing environmental and social objectives, along with financial goals creates a challenge for some corporations; however, the potential detriment of not adopting socially responsible values could have even greater consequences.
With the “unprecedented surge” (Chernev & Blair, 2015, p. 1412) of companies involving themselves in socially responsible undertakings that are unrelated to their core business, one must ponder the benefits realized by companies that devote attention and resources to such measures (Chernev & Blair, 20...


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...environment receive consideration as well. Corporations fully committed to CSR will include socially responsible initiatives into their corporate strategies (Mason & Simmons, 2014). Some corporations will also voluntarily submit sustainability reports, providing more transparency (Mason & Simmons, 2014). Past studies proved that consumers pay attention to company behaviors, and will reward or punish companies as they see fit (Gildea, 1994). In addition, investors concerned with business ethical practices, use a critical eye to exam a corporation’s behavior prior to deciding their investment strategy (Gildea, 1994). Companies that are still unsure of CSR benefits, should understand that enhanced reputation, brand loyalty, and potential profit increases are byproducts of a company committed to being socially responsible (Chernev & Blair, 2015; Santoso & Feliana, 2014).

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