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The nature of corporate social responsibility
Importance of social responsibility in business
Importance of social responsibility in business
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Recommended: The nature of corporate social responsibility
Corporate Social Responsibility (CSR) is a commitment of businesses to developing policies that incorporate responsible practices into daily business activities to improve the wellbeing of the society. Many people are constantly debating whether or not CSR should be legally recognized or not. Some people think CSR should not be enforced at all and they think CSR is interfering with the laissez-faire, as it is to create an environment in which businesses are not free from government intervention. People who support CSR say that CSR helps increasing business profit for owners and at the same time it improves the quality of life of businesses’ employees, communities and the society. This paper will seek to prove that CSR is valid means of promoting workers rights, labor rights, consumer protection and respect for local communities as well as discussing the impact of CSR on society.
In my view, CSR has to be supported on the ground of human rights and labor rights. I do not believe in CSR as a replacement of efforts of human rights and labor rights organizations; however companies should promote the wellbeing of their employees and implement policies, procedures, and activities to avoid violation of workers’ rights. Although companies in the United States acknowledge the right of their employees to organize and they have policies against child labor, discrimination, minimum wage, and working hours, they do not implement the same business principals when doing business in third-world companies.
In some countries, activists of worker’s rights or human’s rights do not exist and most of the times government officials are the first people to violate the rights of workers whether in public or private sectors. According to Global Issues, ...
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...usinesses profit, but also the quality of life of businesses’ employees, communities and the society, it is my sincere belief that currently CSR has to be enforced or voluntarily practiced in order to increase both profit for business owners and the quality of life of members of the society at large.
Works Cited
http://phoenixbusiness.hubpages.com/hub/Nike-Global-Business-and-Challenges
Telephone interview with Businessman, Justin Kanamugire.
http://www.marxist.com/pakistan-coca-cola-workers-face-brutal-management.htm
http://www.hg.org/consume.html
http://fastbadcreditmortgages.com/
Alessia D., Sybil H. and Sue F. (2007). Corporate Social Responsible and Sustainable Business, page: 88–89.
http://www.stwr.org/global-conflicts-militarization/foreign-companies-fuel-congo-violence.html
http://www.globalissues.org/article/57/corporations-and-workers-rights
Windsor, D. (2001). The future of corporate social responsibility. International Journal of Organizational Analysis, 9 (3): 225-256.
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.
Hohnen, P. (2007). Corporate Social Responsibility An Implementation Guide for Business. Winnipeg: International Institute for Sustainable Development. Retrieved January 22, 2014, from http://www.iisd.org/pdf/2007/csr_guide.pdf
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 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...
In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many purposes for this essay, the first purpose is to descried the key principles of corporate social responsibility and explain their importance for stakeholders. Secondly, is to show how far this company follows those principles in order to be accountable to at least three of its stakeholders. In this essay, three stakeholders, environment, customers and employees will be evaluated respectively and the key principles of the stakeholders will be examined.
While there are no governmental regulations on a business’ use of CSR, any business would benefit from its use. “Corporate social responsibility (CSR) refers to business practices involving initiatives that benefit society” (Caramela, 2016). These include environmental efforts, ethical labor practices, volunteer work and philanthropy (Carmela, 2016). Businesses are the largest contributors to the economy and humanity. They must be conscious of that and use their power to better the both rather than cause them to deteriorate.
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.
responsibility has been defined as 'the responsibility of enterprises for their impacts on society'. Is Corporate Social Responsibility (CSR) just window dressing or is it a contradiction in terms? In this Very Short Introduction, Jeremy Moon shows that CSR holds much more value than it first appears, and shows how it has come of age in recent years. Illustrating the sorts of CSR investments companies make, the ways in which they practice CSR, and the challenges this brings, Moon considers how the principles migrated from their US roots to become a global business phenomenon. Corporate social responsibility has been defined as 'the responsibility of enterprises for their impacts on society'. Is Corporate Social Responsibility (CSR) just window
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...
To begin with, the first poor issues pertaining to CSR is child labour. Child labour means “Child labour is work that affects children’s health and personal development, and interferes with, or stops, their education.” (Nestle) Back than, child labour was the major issues all over the world. Children shouldn’t be working because they are too young, they must be over 16 to work. It’s dangerous for them to work due to the hazardous working conditions. There are many reasons why child labour exists such as lack of poverty, commun...
In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its
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.