Increasingly accepted as a fundamental practice, Corporate Social Responsibility (CSR) remains an ambiguous concept, with no clear-cut definition (Tench et al., 2012:6) and systemic conceptual framework (Carroll, 1999). The discipline is synthesised as a corporation’s obligation to contribute to the welfare of the society as well as the organisation (Daft et al., 2010:134). Briefly, CSR encompasses corporate practices that operationalise the relationships with and impacts on stakeholders and the environment (Waddock, 2004:9). While the perspective entails voluntariness (CEC, 2001), there is an established business case for CSR. Literature recognises CSR profitability in the long term, especially in the form of brand loyalty, employee satisfaction, or operational efficiency (Pivato et al, 2008). CSR positively affects economic performance, employee engagement, and reputation management (Orlitzky et al., 2003; Xueming and Bhattacharya, 2006; Sen et al., 2006:164). In summary, two fundamental notions emerge. Firstly, CSR implies the intrinsic recognition of ‘a large and integrated set of stakeholders’ (Cochran, 1994). From Friedman’s mere profit-generating function (1970:33), CSR introduces economic, legal, ethical, and discretionary corporate responsibilities (Carroll, 1979:500). Secondly, corporations find a strategic interest in pursuing CSR. From one hand, voluntariness relates to a search for legitimacy and compliance with legal and ethical requirements, nominally Donaldson and Dunfee’s (1999) ‘license to operate’. From the other, pursuing CSR may bring advantages, epitomised by Key and Popkin as‘doing well by doing good’ (1998). Thus, CSR appears double-edged. CSR is considered a necessary tool that, however, due to the conn... ... middle of paper ... ...d, UK:473–479.. Waddock, S. (2004).Parallel Universes: companies, academics, and the progress of corporate citizenship. Business and Society Review, 109(1):5–24 Wanderley, L. S., Lucian, R., Farache, F., and De Sousa Filho, J.O. (2008) CSR Information disclosure on the web: A context-based approach analysing the influence of country of origin and industry sector. Journal of Business Ethics, 82:369-378. Whitehouse, L. (2006) Corporate social responsibility – views from the frontline, Journal of Business Ethics, 63:279-296. Würtz, E. (2004). Intercultural communication on websites, In Sudweeks, F. and Ess, C. (2004) Cultural attitudes towards technology and communication, pp. 109-122. School of Information Technology Xueming, L., and Bhattacharya, C.B., (2006). Corporate social responsibility, customer satisfaction, and market value. Journal of Marketing, 70 (4):1-18
Lantos, GP, 2001, ‘The boundaries of strategic corporate social responsibility’, The Journal of Consumer Marketing, vol. 18, no. 7, pp. 595-639.
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 concept explores underlying motivations for CSR reporting with cautious reference to the engagement of the companies. Engagement-based CSR efforts draw conclusions on surveys and interviews and offer valuable insights towards internal structures as well as views from reporters (Adams, 2002). In such r...
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...
Since the last decade, Corporate Social Responsibility (CSR) has been integrated in policy of many companies due to the fact that it helps to increase a positive social impact on people, environment and enhance firm reputation. Most businesspeople seem to agree that CSR provides only advantages; for example, increasing product differentiation that can appeal to consumers, decreasing operating costs in recruiting and retaining employees and reducing turnover costs (The Financial Times). However, companies appear to have a hidden agenda - an underlying financial purpose - behind CSR. For this reason, this essay will indicate contradictions against CSR and will argue that corporations which practice CSR do not always perform well financially.
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...
Vogel, D., 2005. The market for virtue the potential and limits of corporate social responsibility. Washington, D.C.: Brookings Institution.
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.
I begin this essay by defining CSR, there are many definitions for this term by various different theorists, and EU says that CSR is "A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis." On the other hand, Sloman et al. define it as "The concept in which a firm takes into account is the interests and concerns of a community rather than just its shareholder". Davis and Blomstrom (1966), say it "Refers to a person’s obligation to consider the effects of his decisions and actions on the whole social system". These definitions differ from one another in many ways but they agree that CSR involves taking the environment into account and therefore, one must look take social responsibility.
Corporate Social Responsibility (CSR) is a very familiar term in today’s world. Most of the successful companies try to be ethical and socially responsible toward their stakeholders. Because becoming ethical and socially responsible gains a lot in terms of profit or capturing more market share (Aras and Crowther,2009). This socially responsible approach is paved by the CSR activities of the companies which has a great contribution to their corporate strategy of winning the customers’ mind. In this assignment, the pros and corn of CSR activities of a particular organization a...
A corporations CSR should be shaped in order to fit the goals of the corporation, although every corporation’s CSR should differ, since most have different goals and different communities behind them. The CSR should be molded into fitting the corporation’s goals in order to make it easier on the corporation in giving back to the community while achieving its goals. For example, a corporation located in a desert wishes to be more efficient, by reducing water usage it is not only creating lower costs, which result in higher revenue, but also helps the community by not taking up so much water. Taking this into consideration, it is critical that the corporation goals and values are established and clear throughout the corporation, they should be developed by the board or directors and CEO, and the highest managerial level should stress their importance to the rest of the corporation. By making the goals and values at the top branch of the corporate hierarchy, it will be simpler for the corporates community to develop in order to nurture those goals and values. Therefore, a corporation can reach the “shared-value,” a value for both its shareholders and community in a simpler manner that can result benefiting the corporation in the end as well. Throughout the article many examples are given of actual corporations that have benefited and changed their CSR in order to fit their goals, therefore, providing solid proof that these methods work. Nevertheless, as acknowledged by the author’s themselves, most of the corporations taken into consideration where one’s that Harvard CSR students were employed
Each definitions of CSR does vary around the core characteristics based on their conceptual concentrations and particular focus, for example, under the Voluntary Characteristic, CSR see the overall voluntary activities beyond the law. The Externalities, study both, the positive ...
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.
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...