Corporate Social Responsibility (CSR)

2307 Words5 Pages
bulb-icon

Recommended: the nature of csr in a business

Issue Brief, Corporate Social Responsibility (CSR) Introduction Corporate Social Responsibility has become increasingly important in today’s society; it is about what organisations do over their legal requirements to make a positive contribution to society and the environment. This ensures that organisations operate socially responsibly wherever they operate while looking after the environment and community (Christine A. Mallin, 2009). All enterprises are accountable for not only their financial performance but, also for their social and environmental record (Michael Blowfield and Alan Murray,2008). CSR is about organisations doing more for the environment and society than their legal minimum by choice (Thornton Bradshaw and David Vogal, 1981). …show more content…

There are many benefits to be found through having a socially responsible management system; each and every organisation will find that its benefits differ from other organisations. Enterprises participating in CSR may find improvements, for example; in their financial performance, increase in productivity as well as giving them a competitive advantage in the marketplace. Being socially responsible demonstrates that’s businesses are being accountable for how they operate in an environment, it promotes confidence to its stakeholders that is behaves in a socially responsible manner (Ian Rosam and Rob Peddle, …show more content…

A smaller organisation is likely to be socially responsible on a smaller scale, for example minimising waste, planting trees and putting back goods into the community. Meeting the needs of society is an opportunity for businesses to develop ideas and demonstrate business technologies (Harvard Business School Press, 2003). It tends to be more of a social aspect of the business. There is no right or wrong way to achieving social responsibility, although there are some common activities many firms following a CSR system may do. The main idea of CSR is to make a positive contribution to the environment and be responsible for your own waste, this means discarding of their waste in a non-harmful way, or reducing the amount of waste they create. Firms may even choose to buy their goods from local suppliers, helping support their local

Show More
Related

  • T.J. Maxx CSR

    1886 Words  | 4 Pages

    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...

    Read More

  • The Top Three Competitiors of the American Repertory Theater

    807 Words  | 2 Pages

    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...

    Read More

  • Adam Lindgreen And Valerie Swaen's Article: Corporate Social Responsibility

    881 Words  | 2 Pages

    ​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.

    Read More

  • Duke Energy Case Study

    569 Words  | 2 Pages

    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.

    Read More

  • CSR Will Be a Game Changer In Future Business

    641 Words  | 2 Pages

    “Corporate Social Responsibility (CSR) is 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” (Holme and Watts (2000) p.8). For many years business have cared solely on money however in recent years businesses have started to take interest in CSR and helping society welfare. This paper will discuss if Corporate Social Responsibility is likely to become a game changer in the near future.

    Read More

  • Corporate Social Responsibility Analysis: Wells Fargo

    958 Words  | 2 Pages

    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.

    Read More

  • Business Ethics: Corporate Social Responsibility In Business

    984 Words  | 2 Pages

    Corporate social responsibility is a concept that companies own social and environmental concerns in their business operations and in their interaction with their stakeholders. It is considered that the aim for CSR is to convert from philanthropic rationale to performance-driven task. It is also known as Corporate Responsibility, Corporate Citizenship, Responsible Business, Sustainable Responsible Business (SRB),Corporate Social Performance. It is also defined as Additional responsibilities of businesses to local and wider communities apart from its core responsibility of profit maximization(Simpson and Taylor, 2013).

    Read More

  • CSR report

    1571 Words  | 4 Pages

    In subsequent years, European researchers suggested companies should view social responsibility internationally. CSR has become a new alternative in the conception and doing business that encompasses economic, social, and environmental operations for achieving competitive advantage.

    Read More

  • Ethical Theories

    659 Words  | 2 Pages

    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.

    Read More

  • Exploring Business Ethics and Stakeholder Responsibilities

    1236 Words  | 3 Pages

    They should also participate in initiatives that benefit the society (Fallon, 2015). The company should manage their business and conduct their efforts to create a positive impact in the society. This business practice is called corporate social responsibility (CSR) (Popa & Salanta, 2014). "Sustainability isn 't just important for people and the planet, but also is vital for business success," said Maw, consumers are more aware about global social issues today. With that being said, the importance of corporate social responsibility in business has more value than before (Fallon, 2015). Human beings are social animal and we cannot live in isolation. We are expected to behave in a manner that is socially and morally acceptable to others. This also applies to in business; corporates are expected to conduct its operation in a manner that fulfills its obligations to the society (Olivia, 2011). Being socially responsible is not only respecting the legal system, but also going beyond them through environmental management, investing in human capital and having a relationship with all stakeholders (Popa & Salanta, 2014). According to Gond and Moon CSR is associated with business responsibility for society not for the wrong reasons such as compensating for a negative outcome, which is using CSR irresponsible by covering up the “doing good” to “doing bad”. Second, business responsibility to

    Read More

  • CSR Case Study

    1155 Words  | 3 Pages

    CSR is the carrier of many names such as “citizenship”, “social performance”, “corporate conscience” or “sustainable responsible business” (Fontaine, 2013).

    Read More

  • Effectiveness Of CSR

    770 Words  | 2 Pages

    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).

    Read More

  • The Importance Of CSR And Environmental Responsibility

    2151 Words  | 5 Pages

    The environmental aspect of CSR is defined as the duty to cover the environmental implications of the company’s operations, products and facilities; eliminate waste and emissions; maximize the efficiency and productivity of its resources; and minimize practices that might adversely affect the enjoyment of the country’s resources by future generations. In the emerging global economy, where the Internet, the news media and the information revolution shine light on business practices around the world, companies are more frequently judged on the basis of their environmental stewardship. Partners in business and consumers want to know what is inside a company. This transparency

    Read More

  • Essay On Corporate Social Responsibility

    800 Words  | 2 Pages

    Corporate Social Responsibility (CSR) refers to company's effects on the environment and impact on social welfare. Companies express this citizenship through their waste and pollution reduction processes, by contributing educational and social programs, and by earning adequate returns on the employed resources. CSR is also considered as a strategy to create, develop and sustain positive company reputation and brand images.

    Read More

  • Essay On Corporate Social Responsibility

    1275 Words  | 3 Pages

    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...

    Read More

More about Corporate Social Responsibility (CSR)

Open Document