The Corporate Social Responsibility (CSR) as years pass by transformed into a fundamental part in all affiliation or association because of the impact it has on the society or community. There is no acceptable definition to corporate social responsibility; as a result there is no certain explanation or definition of Corporate Social Responsibility. Moreover, a Corporate Social Responsibility (CSR) can additionally be suggested as ”Corporate Citizenship", “Corporate Governance” which can be defined as the obligation of the association to the ethics, environments and law of the country to the welfare of the society. I will be separating the words corporate social responsibility and defining it individually to give a clear meaning. Corporate can be defined as group of people or individuals with the same interest that works together in an organisation or association either for profit or non-profit. Social in this term can be defined as human behaviour which considers the interest of others and the society. That is doing things you will like others to do to you and this is practical as the expression social was gotten from a Latin word "socius" signifying “friend” Responsibility can be defined as a commitment or obligation of an individual or group of people concerning a task; this is what they are expected or required to do as part of the organisation, community or society. According to Baker (2004) defined “Corporate Social Responsibility as how companies manage their business process to produce an overall positive impact on society”. Furthermore, Holme and Watts in Baker (2014) defined “Corporate Social Responsibility as the continuing commitment by business to behave ethically and contribute to economic development while improvin... ... middle of paper ... ...o the society. The importance of the CSR in the society is that it brings regulation and also makes the customers to be able to benefit from their money invested in that company. In the case of Apple Inc. after Cook took over as the CEO understood the needs to satisfy the customers and also the society and that was why he engaged the company with the CSR activities and presently the Apple Inc. is involved in charities. The Corporate Social Responsibility brings a lot of competition between different enterprises and they are a lot of argument about it but notwithstanding this argument it is important for an organisation or association to be involved in the CSR, as it increases customer relationship, human resource, cost saving trust, dignity and respect of the organisation. Nonetheless, the CSR has transformed businesses to pioneers in the social innovation.
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...
Corporate social responsibility (CSR) is a when a firm goes beyond compliance and engages in “actions that appear to further some social good, beyond the interests of the firm and that which is required by law” (McWilliams, Siegel & Wright, 2006)...
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...
Corporate social responsibilities (CSR) have a different meaning in different company but in my view CSR is the concept which is the ability one of the companies can do for society. As the company responsibilities toward the society and environment in the way operate their business. CSR is about how companies manage the business processes to produce an overall positive impact on society. CSR also known as a “corporate citizenship” and with do that CSR is not provide an immediate financial benefit to the company but promote positive social and environmental change. (www.investopedia.com/terms/c/corp-social-responsibility). CSR is a high profile nation which the business world perceives as a strategic (Economist, 2008; Porter & Kramer, 2006)
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.
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.
Corporate social responsibility (CSR): is a business method that gives back to the community through sustainable development by delivering economic, social and environmental benefits for all
Corporate social responsibility (CSR): is a business method that gives back to the community through sustainable development by delivering economic, social and environmental benefits for all
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...
"Corporate social responsibility is the commitment of businesses to contribute to sustainable economic development by working with employees, their families, the local community and society at large to improve their lives in ways that are good for business and for development." Petkoski D & Twose N 2003, p.1).
Corporate Social Responsibility (CSR) is defined as the voluntary activities undertaken by a company to operate in an economic, social and environmentally sustainable manner.It is a global standard. It’s not what people think. It means that the Standard Operating Procedures(SOPs) must be ethical from the beginning to the end; every input that is put into the company to the output, needs to be ethical and accountable to the people. It needs to provide high quality products and services that leave a smaller carbon footprint. So that is in the end, being responsible. Corporate relates to anything that has to do with profit. CSR is always associated by people with non-profit, but companies work for profit only. CSR is a responsibility,
Many people believe that they have a social responsibility to take care of their community and the people within that community. The community can expand from local and regional to national and international in scope. Social responsibility in not limited to individuals, but many businesses and organization have joined the call for social responsibility. Corporate Social Responsibility, CSR, is when business and corporations make this a priority in their operations. Two questions come to mind, why a company needs to practice CSR and how can they do it?
However, there can be more definitions about what Corporate Social Responsibility can be. For example, Corporate Social Responsibility can be the commitment which is continuing for a business to behave ethically and bring to economy the development to improve the workforces’ of the whole society and local community and their families’ quality of life. Corporate Social Responsibility is also known as the obligation of a company to serve the society’s interest and of course its own. With the help of the Corporate and Social Responsibility, social and environmental concerns companies can integrate into their business and stakeholders operations.
It is important to understand the importance of corporate social responsibilities. If Corporate Social Responsibility is properly maintained and emphasized by companies, it can benefit the society, economy and corporate sustainability. It can also be cost efficient to companies. also the environment . But above all effect (CSR) varies companies to companies. Where some corporates seem to make all sorts of benefits from their coporate social responsibilities but few of them are also having loss by trying to maintain CSR without properly evaluating their resources. (Porter and Kramer 2006) has said The inferences where corporates need to evaluate their CSR actions to figure out if they add
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.