Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interests of society . Responsibility for the impact of their activities on shareholders, employees, customers , the environment and communities in all areas of your business that is determined to see beyond the legal obligation to comply with legislation and sees organizations voluntarily take steps to improve the quality of improving the quality of life of employees and their families and the community and society to improve local . Social responsibility is an idea that has long been a source of concern for humanity. In the last two decades there has been a growing interest in the business world. This has led to greater interaction between governments, businesses and society as a whole. In the past, affected by the economic results of their decisions primarily companies . (Anderson 15) " Today, however, companies need to think about the ethical, legal decisions , moral and social . " In this article , the concept of corporate social responsibility analyzed. The definition and some of the factors that determine the social responsibility in the global economy must be given. It will be in the company of the importance of the economy, the implementation of the project and the impact of corporate social responsibility . Social responsibility and high ethical standards is not an option but a requirement for all businesses. The debate on CSR is said to have started in the 20th century , the growing concerns of the major concerns of the economy and power . Ideas of charity and helped manage initial thoughts on CSR in the United States . There is no universally accepted definition of the definition of CSR - CSR organizations elected: "Corporate social ... ... middle of paper ... ...n as a waste of resources, such as CSR strategy can help carefully applied to your organization: CSR programs for the social responsibility of the company will be able to attract investors , new businesses and have engaged in the eye reduces their risks and the interests of the parties’ . Social responsibility programs can also help to win the employee team and maintain a happy workforce of the employer. It has also to save the organizations money and energy in the operating costs and also help reduce the risk of the club. CSR can manage and to differentiate themselves from competitors. Therefore, CSR can help they differ to create and innovate, learn and influence. There is also the situation of your company to improve your reputation. Subsequently, CSR can create opportunities for positive publicity and communication media by the media interest in ethical business.
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.
Corporate social responsibility (CSR) invaded the corporate world over the last few decades. This concept has become an essential need for competitive advantage unlike its original role as a nicety. The companies have seen the business benefit of the initiative and stakeholders have appreciated the initiative. This has led to the wide application in the firm’s operational agenda.
The practice of CSR is area under much discussion and criticism. Some people argue that there is a strong business case for CSR, in that corporations gain an advantage in multiple ways by operating with a broader perspective than just making an immediate, short-term profit. However critics argue that CSR can distract from the basic economic function of businesses, others dispute that it is nothing more than superficial window-dressing.
Corporate Social Responsibility is the obligation from corporations to utilize their resources to aid and benefit the larger society. The four components of CSR are economic, legal, ethical, and philanthropic. Social Responsibility is a fundamental force in the wealth creation process. If correctly demonstrated, CSR should heighten competitiveness and boost the value of wealth creation to society. A company's CSR Initiatives directly represent who the company is and what it believes it. The m...
Corporate Social Responsibility, some may say it is an organization's duty to behave in an economically and environmentally acceptable manner but there is more to it that just that. A company has a duty to its shareholders, the duty to maximize benefits and avoid trouble, a responsibility to the employees and others who depend on that company for a living , and last but not least they have the duty to create a safe environment for everyone. A Civil Action by Jonathan Harr depicts a civil lawsuit that takes place in the United States. The lawsuit is filed by residents of a small town, Woburn, in Massachusetts, against two powerful corporations, Beatrice Foods and W.R. Grace, for polluting the water in the local river with carcinogen TCE and causing the deaths of many children. A Civil Action by Jonathan Harr demonstrates that the issue of Social Corporate Responsibility is prevalent throughout the piece but because of the adversary system of law there is no place for apology just winning for both parties.
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...
According to Mike Peng, Corporate Social Responsibility (CSR) is the consideration and response to issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with traditional economic gains the firm seeks. CSR is a way in which a company seeks to achieve a balance between profit, environmental concerns and social imperatives. This is known as the ‘Triple-Botto...
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.
Benefit from CSR can somehow encourage corporations to adopt CSR. Many enterprises realize that they must deal with CSR issues to ensure their position on the market and maximum marking share. She thought that involving in CSR can bring intangible interests such as employee loyalty and good reputation for companies (Gazzola, 2012). Moreover, firms can also avoid crisis. Therefore, those benefits may promote CSR among companies (Gazzola, 2012).
CSR is a concept where company involves in social and environmental in their business operations. This is done to achieve a balance of economic, environmental and social obligations.in simple terms giving a hand for those who are not capable of achieving with their objectives and attending to them so that they could make those objectives a reality. This could improve organizations cooperate image which would also leads to attain a high market share.
CSR can relate to social, environment and profit goals. CSR enhances awareness of human, environmental and social issues and places pressure on organizations to adopt procedures and policies that are good for stakeholders wellbeing. Scholars have different definitions for CSR as seen below:
The classical view of CSR is a prominent ideology which business organizations are seen merely as profit-driven organizations. Simply put, businesses work for the sole purpose of making a profit. Thus, this profit motive is the sufficient and unique social identifier that separates a business organization from other institutions in society. These business organizations have a limited, yet essential role in society. Social concerns are considered important, but businesses, in the classical view, are focused solely on the economic activities and are judged accordingly. By having a limited role in society (i.e.,...
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 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...