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drawbacks of corporate social responsibility to a business organisation
the nature of csr in a business
drawbacks of corporate social responsibility to a business organisation
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Introduction There has been a seismic shift in how companies market themselves and their respective goods and services. The primary reason for the shift seems to be a changing consumer base; one that incorporates social, environmental and ethical issues into their buying decisions. Pressure from these more socially conscious consumers has driven companies to adopt more robust corporate social responsibility (CSR) strategies in order not only maintain customers but garner new ones as well. It now seems that in all most every advertisement there is some mention of the company’s CSR endeavors. Over the last few decades major corporations have shifted their focus from one of a mostly profit driven focus to one in which CSR has become integrated into their business culture. While an increased emphasis on CSR will most definitely enhance a company’s image in a positive way, whether it will equate to actual success in terms of either market share and or profits is speculative. The CSR efforts of each company will determine how the public perceives those efforts and if the efforts are merely attempts to generate more revenue or sincere efforts to make a difference. CSR has been defined in many different ways. CSR is generally understood to be the way a company achieves a balance or integration of economic, environmental and social imperatives while at the same time addressing shareholder and stakeholder expectations. It is about meeting the current needs and ensuring the future generation’s needs are not compromised upon (Gupta & Sharma, 2009, p. 397). Consider also the following definitions of CSR (Schwartz & Saiia, 2012, p. 4): - The idea of social responsibilities supposes that the corporation has not only economic and l... ... middle of paper ... ...e and a positive reputation. But all of these programs are useless unless they serve the true purpose of a business and that as previously stated is to provide a return on investment (profit) to the owners/shareholders. Responsible companies will take a balanced approach; non-responsible ones will go too far in one direction at their own peril. References Gupta, S., & Sharma, N. (2009). CSR - A Business Opportunity. The Indian Journal of Industrial Relations, 44(3), 396-401. Retrieved from http://web.b.ebscohost.com/ehost/detail?vid=10&sid=635dc40f-c062-4efb-a6c9-0a58e82991e5%40sessionmgr114&hid=118&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bth&AN=36875566 Schwartz, M. S., & SAIIA, D. (2012). Should Firms Go “Beyond Profits”? Milton Friedman versus Broad CSR. Business and Society Review, 117(1)(1-31), 4. http://dx.doi.org/10.1111/j.1467-8594.2011.00397.x