The Concept of Corporate Social Responsibility

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The Concept of Corporate Social Responsibility With the interest in Corporate Social Responsibility growing, increasing numbers of organisations are incorporating CSR into their business operations in an effort to be seen acting as good corporate citizens, so what is CSR & what is it's role in today's organizations? The term CSR refers to a company?s obligation to maximize its positive impact on society, accommodating changing social, market & stakeholder pressures in an effort to achieve sustainable economic, social & environmental development throughout its operations and activities. CSR puts expectations, continuous improvement & innovation at the heart of business strategies and the four dimensions of social responsibility are generally considered to be economic, legal, ethical & philanthropic. Approaches to CSR are varied and due to the differences in priorities & values across the world, there is no "one size fits all" strategy. Where previously, the role of a socially responsible company was simply to create good will in the community, organisations are now required to take into account the full scope of their impact on communities & the environments in which they work, balancing the needs of stakeholders with the need to make a profit. Although there is no one size fits all strategy, well managed CSR programmes have universal benefits; o Increase Profit o Enhance business competitiveness& opportunities o Maximise value of wealth creation to society o Can improve financial performance & access to capital o Enhance brand image, raise profile & boost sales o Attract & retain quality workforce, o Improve decision-making on critical issues o Helps manage risks & reduce long-term costs o Incre... ... middle of paper ... Books Marketing Cooncepts & Strategies Dibb, Simkin, Pride & Feral Kotler on Marketing Philip Kotler Marketing Strategy Sudharshan Mastering Marketing Financial Times The Essence of Services Marketing Adrian Payne Value Based Marketing Doyle Marketing Plans Malcom Macdonald Marketing Principles and Practice Adcock, Bradfield, Halborg, Ross Publications Marketing Week Recruitment & Employment Confederation
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