The Importance Of Corporate Social Responsibility

881 Words4 Pages
Corporate Social Responsibility Corporate Social Responsibility (CSR) is a movement that aims to promote a greater awareness of how business activities and decisions influence corporate environment, stakeholders, and society in general. Adam Lindgreen and Valerie Swaen’s article “Corporate Social Responsibility” addresses this broad topic in a more narrow direction of CSR implementation as it discusses the most important stages of this process. While this article relies only on the previous research, it provides unique insights into CSR and even challenges the common views of this concept as the authors thoroughly analyze their secondary sources. CSR is used as an ideological approach that implements ethical considerations in order to encourage continuous corporate development by ensuring that all stakeholders are equally benefited from social, environmental, and economic perspectives (Benabou & Tirole, 2010). While CSR is a single term, it is immensely complex because it contains numerous corresponding practices. The way in which it is being perceived and used usually depends on specific contextual factors of the business in question, such as location, size, goals, and so on. What is more, CSR is further expanded through addressing such varied topics as working conditions, economic development, safety and health, human rights, and business leadership. Nonetheless, despite the fact that the concept of CSR may be regarded and treated differently, its main purpose remains the same — to ensure sustainable business development through ethics. Lindgreen and Swaen’s article reviews relevant literature to discover and discuss how businesses create and establish their CSR approaches. In particular, the authors examine the ways in whic... ... middle of paper ... ...or its theoretical and practical implications alike. Firstly, it depicts CSR as a complex concept consisting of internal and external considerations, which is why it cannot be universally generalized. Secondly, it creates managerial guidelines for implementing, communicating, integrating, and measuring a CSR initiative. Thirdly, it challenges the common idea that organizations aiming to implement CSR are bound to lose profit. Finally, it provides substantial basis for future research on this topic. References Benabou, R., & Tirole, J. (2010). Individual and Corporate Social Responsibility. Economica, 77(305), 1-19. http://dx.doi.org/10.1111/j.1468-0335.2009.00843.x Lindgreen, A., & Swaen, V. (2010). Corporate Social Responsibility. International Journal Of Management Reviews, 12(1), 1-7. http://dx.doi.org/10.1111/j.1468-2370.2009.00277.x
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