In this introductory stage it is of great importance to discuss what corporate responsibility is, together with describing in a global context and the impact functions and views on leadership.
Corporate responsibility can best be described as the specification of all the collective systems that are needed to support a business’s functionality, environmental and shareholders activity (Best practices guide, 2014) Most importantly, however is that it can dictate how a business will actually co-operate (Jan Marchant, 2013) within their industry or law boundaries. Quite simply it can be summed up as aligning moral integrity with new management styles of the 21st century (Bill George, 2010).
Corporate responsibility is in effect a facility of accountability (Jeff Swartz, Carol Atwood, Rob Cameron, Bob Langert, Caroline Roan, 2013) which now manages a large amount of a company from many different areas and other sources, both internally and externally (Jeff Swartz, Carol Atwood, Rob Cameron, Bob Langert, Caroline Roan, 2013).
Corporate responsibility essentially acts as a hub where all d...
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...
Responsibility is a word used improperly too often in one’s everyday life. It is the state, to which one is acting accountably for something within his or her own power, control, and/or management. It is the ability to comprehend rational thoughts and make decisions within one’s moral compass. Beginning at a young age, we are taught the importance of responsibility on a daily basis. Whether it be on the basis of taking responsibility for foolish past actions, or behaving responsibly to develop one’s aptitude of dependability when tasks must be accomplished, the action of being responsible ultimately leads to adding meaning and value to one’s life. After reading The Responsible Company, by Yvon Chouinard and Vincent Stanley, one can begin to comprehend the true meaning behind utilizing corporate social responsibility (CSR) during business practices. Chouinard speaks about the moments in his career, where a company is encouraged and cultivated passed its ordinary human excellence to become more responsible when dealing with the many diverse environmental issues within the business cycle. Although there are many concepts and moments that Chouinard establishes as important, there are a few moments that seemed to have a deeper meaning and deserved another moment of reminiscence because it increased peoples’ sense of responsibility and capability to act responsibly.
Boatright (2006) contend that corporate social responsibility denotes the responsibility recognized by a company for acting in socially responsible manner. There is no single universally accepted definition of corporate social responsibility, it has generally come to mean business decision making linked to ethical values, legal compliance, and respect for people, community, and environment. CSR accepts a company to go further than required by law so as to treat employees fairly and with respect, operate with integrity and in an ethical manner in all its business dealings with customer, suppliers, lenders, and others, respect human rights, sustain the environment for future generations and be a responsible neighbor in the community and a good ‘corporate citizen’. Hill (2009) asserts that corporate social responsibility has become a challenge which MNCs face in emerging markets. Galbreath (2009) support the view of Hill (2009) by saying that with increase in globalization, the importance of corporate social responsibility has increased a lot.
The earliest impressions that the book makes on the mind of the reader is that “Corporate Social Responsibility” is not just about some kind of vague theories but supports all that it preaches with practical applications. Labelling the book as “a Bible for today’s corporate citizen”- as the publisher does on the flap of the book- may be stretching it a bit too far, but “Corporate Social Responsibility”, does provide thoughtful answers to a number of vital questions on how a corporation could do most good for itself and its
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.
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.
Enterprises lay high emphasis on corporate social responsibility instead of being profitable tools. It is essential for all the enterprises to focus on corporate social responsibility which can help the organization creates long-term sustainability for corporate success. More specifically, corporate social responsibility can be referred as a process which is aim to embrace responsibility for the organization’s actions. Moreover, it can have a benefit to the people who are regarded as stakeholders, like employees, consumers and communities, which is based on its activities. Also, Tai (2014) states that corporate social responsibility is considered as corporate citizenship which tends to be an obligation that can protect, foster, and enhance
Zadek, S. (2004). The Path to Corporate Responsibility. Harvard Business Review, 82(12), 125-132. Retrieved from http://search.ebscohost.com.ezproxy.liberty.edu:2048/login.aspx?direct=true&db=bth&AN=15242507&site=ehost-live&scope=site
Corporate Social responsibility is the care and concern shown by the businesses towards society and carrying out activities by which the society can be benefited.
Based on this descriptive claim now, the canonical view of business social responsibility is trying to identify what we ought to do,in other words it changes this descriptive claim into a prescriptive one. According to this people have to be self-interest and companies ought to maximize its profits by obeying the law. A corporation is swan as a society. A good organized society would take care of its citizens. It would protect them by making a fair distribution of the wealth and capital and would solve the problems with new regulations and laws that will help not only people but companies as well to achieve their goals (Personal and professional).
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.
As a result of modern corporate scandals and rapid development of international business environments, social responsibility (SR) has become a key aspect of corporate competitive contexts. (Brammer, Williams and Zinkin, 2007). Businesses are under increasing pressure to incorporate SR amongst their profit-driven aims and have become increasingly accountable for their social and environmental actions. Increased interest in CSR developed in the mid 1990s as consumers began to lack their former trust in companies due to both environmental and financial scandals and it became noticeable that society was moving towards values incorporating harmony, quality of life and environmental conservation (Carrasco, 2007) Additionally, major corporate failures over the past two decades have resulted in increased demand for stronger, corporate governance (CG) rules. (Sui, Wright & Evans, 2007). Superior CG rules are needed in order to preserve the integrity of corporations, financial institutions and markets and the health and stability of world economies. (OECD Website)
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...
A company has an economic obligation. It must earn a favorable return for its stockholders in the restrictions of the law. But, corporate social responsibility means that organizations have also ethical and societal responsibilities that go past their economic responsibilities. CSR needs organizations to develop their documentations of their responsibilities to include other stakeholders such as workers, customers, suppliers, local societies, state governments, international organizations, etc. Ethics could be seen as a fundamental component of individual and group activities at the heart of organizations’ errands.
Corporate Social Responsibility is management’s obligation to protect and promote their stakeholders welfare. Social Responsibility is more than just obvious ethical issues like honesty and integrity in business dealings.