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Social responsibility of a business organization
Nature and concept of corporate social responsibility
Nature and concept of corporate social responsibility
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This report presents about corporate social responsibility. Important of the businesses that have the issue start off meaning or principle and level of the social activities as well as suggestions in the conduct business also introduced in the title of the standard is the responsibility will become an implementation of the business in the future .Corporate social responsibility is concept for corporate strategy and can help business to the objective and sustainable. The Importance of inequality between men and woman in the labor force caused by the way that the women allocated their time. The greater number of Korean woman have to do housework and childcare. Most companies choose to hire a man because that thought a man can do more than women …show more content…
Social responsibility will help create stability of the business and increase reliability of the business. Corporate social responsibility is the difference between the factors in the process to help develop the business and result in the society. Corporate social responsibility has level in legal the first level is Mandatory Level means the business has duty that must treated according to the laws and regulations such as Consumer protection law, labor legislation, the second level is Elementary Level means the business considers in capability the survival and gives the return on investment to shareholders, the profit that it must non-profit from Social encroachment, the third level is Preemptive Level means Business Ethics ,the business can generate profits to the shareholders in fair rates and Entrepreneur paying attention in benefits for requiting social especially the society in the big city that has the expectation that will take care or attention from trader, the fourth level is Voluntary level means the Business along with the follow corporate social responsibility. Voluntarily does not claim from the society. Which the business is located on the basis of a focus on the benefits of social is important. Therefore The business has to do with the criteria in the level of at least 1 section in next level, depends on the availability of each organization by compliance with the way in Corporate social responsibility should on the main mode that the business must not exploit themselves and the same time, it must not exploit society. Example 1. Environment recycled material is one of the ways that can reduce the destruction of the environment
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.
The topic of corporate social responsibility is play a key role to run a business and has become one of the standard business practices of our time. In current, most successful companies whether big or small enterprise for instance Apple, lnc. and Krotron has engaged in CSR because it is a good way for companies to benefit themselves while it also benefiting society. And in order to obtain benefits that can give them the advantage over their competitors.
Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society. Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal responsibility-laws that business must obey, ethical responsibilities-behaviors and activities that are expected of business by society, but are not codified in the law, philanthropic responsibilities-represent the company’s desire to give back to society (charietys, volunteering, sponsoring).
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...
In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many purposes for this essay, the first purpose is to descried the key principles of corporate social responsibility and explain their importance for stakeholders. Secondly, is to show how far this company follows those principles in order to be accountable to at least three of its stakeholders. In this essay, three stakeholders, environment, customers and employees will be evaluated respectively and the key principles of the stakeholders will be examined.
The corporate social responsibility is a commitment by a business to contribute to economic development while improving the quality of life for employees and their families’ as-well as contributing to the society. Walmart is a well-known company that offers customers the items they want and need at a low cost, with nearly 4,000 stores in the United States. According to the Fortune 500, Walmart was ranked number 1 in 2015. Just like any other superstore Walmart needs to continue the use of social responsibility by recreating a relationship between business and the community especially if they want to dominate the competition in 2016. The use of sustainability, strategic philanthropy, causing market, shared values, stakeholders and global perspective will help readers understand the purpose of social responsibilities in the corporate world.
Social responsibility is the part of the framework of an organization or individual which makes up an obligation to act for the benefit of society. There are many different ways act out social responsibility. The social responsibilities of a business can be classified according to the businesses relationships to the general public, customers, employees and investors. The companies that make their product or service with the rooted mindset of benefiting the community and the world around them do this by providing things like scholarship funds, all natural products, biodegradable storage, and or just by treating the consumer as well as the employees as individuals rather than a corporate dollar sign. Businesses may exercise
The Corporate Social Responsibility (CSR) as years pass by transformed into a fundamental part in all affiliation or association because of the impact it has on the society or community. There is no acceptable definition to corporate social responsibility; as a result there is no certain explanation or definition of Corporate Social Responsibility. Moreover, a Corporate Social Responsibility (CSR) can additionally be suggested as ”Corporate Citizenship", “Corporate Governance” which can be defined as the obligation of the association to the ethics, environments and law of the country to the welfare of the society. I will be separating the words corporate social responsibility and defining it individually to give a clear meaning. Corporate can be defined as group of people or individuals with the same interest that works together in an organisation or association either for profit or non-profit. Social in this term can be defined as human behaviour which considers the interest of others and the society. That is doing things you will like others to do to you and this is practical as the expression social was gotten from a Latin word "socius" signifying “friend” Responsibility can be defined as a commitment or obligation of an individual or group of people concerning a task; this is what they are expected or required to do as part of the organisation, community or society.
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.
Corporate Social Responsibility 1 "Corporate Social Responsibility (CSR) analyses economic, legal, moral, social, and physical aspect of environment – Barnard (1938)" (Crowter & Aras, 2008). Introduction According to (Crowter & Aras, 2008), Corporate Social responsibility is a concept, which has become dominant in business reporting. Every corporation has a policy concerning CSR and produces a report annually detailing its activity. In addition, of course each of us claims to be able to recognize corporate activity that is socially responsible and the activity that is not socially responsible. In a broad sense, CSR is the relationship between global corporations,
Corporate Social Responsibility is management’s obligation to protect and promote their stakeholders welfare. Social Responsibility is more than just obvious ethical issues like honesty and integrity in business dealings.
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.
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
Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of a decisions and activities on society, the environment and prosperity are known as the “triple bottom line” of people, planet, and profit. It not only do responsibility but also help build brand and reputation, It help strengthen of the community and the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategy of CSR, will help to build a sustainable and profitable for a future. Also, social marketing is an outgrowth of the principles of corporate social Responsibility and sustainable development. It mention that an organization should not ignore the societies or welfare in long term to achieve a mission and vision. Lastly, it realizes that CSR is important to remain sustainable. Strong communities support strong organizations, that can be relate with the social marketing.
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...