Let's Take the Initiative: The Future of Our Environment
The environment is a topic that is important to many organizations around the world. There are many ecological issues that concern companies as well as organizations. Corporate social responsibility is a way companies try to manage stakeholder pressure, improve organizational reputation, and increase consumer patronage. Ethical, environmental, and other social initiatives have increased in popularity among CSR stakeholders (Walker, Kent, and Vincent, 2010). Corporate communication regarding CSR and environmental, social and governance issues are mainstream issues that are put on websites. According to Business and the Environment (2010), Hewlett-Packard was praised for its website and Nestle’ stood out for interactivity and ongoing engagement with stakeholders through social media, blogs, video, and discussions of stakeholder engagement initiatives.
The US does not have a CSR plan or policy enacted into law. The US government has over 50 programs from 12 agencies that work toward CSR, the programs covers business ethics, community development, human rights, environmental issues, and labor. The government has implemented policies for the environment, anti-corruption, bribery, and child labor (Freeman and Hasnaoui, 2011). The policies have been enacted to protect both consumers and organizations. Although CSR is not a mandatory law, many companies have implemented CSR practices into their organizations (Jacques, 2010).
Corporate social responsibility is important to companies because it shows the companies care about the environment, the communities they serve in, and the stakeholders. Corporate social responsibility can lead to a positive consume...
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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...
Windsor, D. (2001). The future of corporate social responsibility. International Journal of Organizational Analysis, 9 (3): 225-256.
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.
Davis (1960) assert that concept of CSR is important because businesses are based on trust and foresight. This trust with customers, communities and regulators is not simple and to be successful in long run, a company needs to think beyond what is affecting them today. Thus it is necessary to address changes to technology or the needs of customers taking into account alterations in social, environmental and governance issues (Holme 2010). This essay has made an attempt to explore the role a...
Corporate social responsibility is globally defined as operating a business in a way that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. The concern of CSR has drastically increased over the last two decades. It has enhanced interactions between governments, businesses, society and internationally. In the past, businesses primarily focus themselves with the economic results of their decisions. Now, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions. Corporate Social Responsibility is no longer defined by how much money a company contributes to charity, but by its overall involvement in activities that improve the quality of people’s lives.
The role of CSR has become dramatically increased over a number of years due to an influx of social awareness by the general pubic and also by government. The demand for more ethical business processes and actions, known as ethicism, is increasing. Simultaneously, pressure is applied on industry to improve business ethics through new public initiatives and laws. The recent trend has seen an increase in the number of CSR reports being submitted from 2002 – 2005. In 2005 52% of G250 and 22% of N100 companies issued reports.[1]
“Corporate Social Responsibility (CSR) is 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” (Holme and Watts (2000) p.8). For many years business have cared solely on money however in recent years businesses have started to take interest in CSR and helping society welfare. This paper will discuss if Corporate Social Responsibility is likely to become a game changer in the near future.
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
What is CSR? CSR or Corporate Social Responsibility indicates the actions or conducts that have strategic importance to companies. CSR has been defined as a company’s efforts or obligations in reducing and getting rid of any detrimental effects on the community and maximizing long-term beneficial effects to the company and community in which it operates (Mohr et al, 2001, cited Trendafilova et al, 2013). CSR usually starts with the general emphasis that businesses are not only responsible to generate economic returns for shareholders, but are also responsible to the environment and to other stakeholders. This is usually known as the “triple bottom line” – the company’s returns for investors, the environment and stakeholders (Markley, 2014). In today’s modern business environment, CSR is undoubtedly important because whenever possible, customers would like to purchase goods from companies they trust; suppliers want to develop business partnerships with companies they can entrust; employees want to work for companies they have a high regard for and NGO’s want to work with companies seeking possible solutions in areas of common concern. Pleasing each of these stakeholder groups enable companies to maximize their obligations to their shareholders who gain most when the needs of other stakeholder groups are met (Waldman et al, 2010).
The arguments for and against corporate social responsibility have captured two points of view. Those who believe that organizations should not be concerned about social responsibility base many of their arguments on the costs involved and whether organizations should shoulder those costs on behalf of society. And those who are in favor feel that organizations benefit from society and, therefore, have an obligation to improve it. Although there is no universal agreement, surveys and other reports express that many organizations are, becoming increasingly active in addressing social
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):
Both of these areas are the lifeblood of the company, and any benefit to them should not be overlooked. Before a company can become proficient at corporate social responsibility, they must first know its definition. Corporate social responsibility is defined as actions that can be taken by a company to ensure they are adhering to ethical and social responsibilities of the day. These corporate social actions are self-regulatory, as a company strives to adhere to guidelines while also going above and beyond being a Good Samaritan in the business world (ECA, 2015). This can place certain businesses at the forefront in customers mind because of the example they are setting in the marketplace. A company going above and beyond the call of duty to work towards a more philanthropic approach in the surrounding community is a perfect example for corporate social responsibility. Going deeper into the definition, corporate social responsibility acts like a “double bottom line” for a company, as they strive to achieve financial goals, but also achieve their social mission out in the community. Once a company is aware of what the concept of corporate social responsibility is, they can now implement it and start to reap the many benefits of its
With competition and globalization companies are facing more challenges than before , customers make their decisions based on several factors and expect good quality on products and services , customers also choose to buy products or services positively impacting their community or environment . there for it is important to include CSR in your company’s strategic plan .
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...
Now-a-days it is considered that CSR is one of the major concerns of organization’s business ethics. Companies increasingly increase their corporate social responsibility (CSR) and ethical management accepting the positive impact on the bottom line. The vast bulk of Standard & Poor’s 500 companies publish sustainability reports unfolding their program challenges and achievements. These pre-emptive efforts can pr...