Importance And Significance Of Corporate Social Responsibility

In the last decade, corporate social responsibility (CSR) plays an important role in every company. Even today, many large multinational companies such as Google, BMW and Mercedes Benz are using corporate social responsibility to monitor responsible performance. Corporate social responsibility is a long term approach to every business that is mention about society and employers action (Simply 2008). Corporate social responsibility helps companies to achieve economic imperatives, while at the same time, react to businesses ethical, legal, social and environmental. It helps stakeholders know what the expectations on society. The concept is getting more companies agree that is importance and significance. Corporate social responsibility guides

According to the University Alliance 2013, Walmart has environment responsibility back to society. They change the supermarket light bulb into energy save. It helps to reduce the cost of the electricity bill and environmental friendly. They are encourage customers using own bag instead of plastic bag when shopping. It is eliminating waste from the ground and set the policy of restrict sustainability guidelines. In this case, company can build up the public image better. Society knows their efforts and general public know about their philanthropy. There are huge chances of increase company reputation and becoming customers favorable. It brings positive images for customers.

Furthermore, corporate social responsibility is strongly supported by McDonald. They are looking many ways to decrease expenses such as electric, plastic bag and others in their restaurants all around the world. Corporate social responsibility concepts of environment help them to reduce costs. In order to reduce costs, McDonald use saving energy light bulb LED and biodiesel to fuel delivery trucks. McDonald set up a policy for company to recycle those paper boxes and packaging used renewable resources. These ways not only reduce costs and boost profit, it is also environmental

We cannot afford to ignore it even in the future. Those big companies applied corporate social responsibility to make companies better and more effective. Business people should agree with corporate social responsibility concept because it concern on environment, ethic, profit and society. Most companies do provide policy to ensure that relationship with society need. We can clearly see that McDonald and Walmart made corporate social responsibility, customers response have become better and they have been successful in business. Thus few examples above, we can see that those companies have benefits achieved when implementing it and it is so