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The significance of Corporate Social Responsibility
Social corporate responsibility
Social corporate responsibility
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In this essay I will be discussing the role and impact of Corporate Social Responsibility in event management in the 21st Century. I will research and report examples, with supporting evidence. Firstly, I shall begin with defining Corporate Social Responsibility and then I will turn my attention to the challenges of CSR along with, why it is crucial for businesses and what the outcomes are if Corporate Social Responsibility (CSR) is overlooked. Throughout this essay I will be providing examples of such an fundamental affects and companies who have take CSR and how they are carrying out their responsibilities. Then, later on in the essay I will look into the pros and cons of CSR. Finally to finish off, I will provide a conclusion as to whether it is really worth the effort for businesses to take corporate social responsibility. 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. Stuart Hart, in a business article, discusses the tough task for companies to make a sustainable global ec... ... middle of paper ... ...n Africa. As mentioned in the main body of the essay, the Indian oil company seem to be the leading the way as they look to be resolving all these issues by dedicating some of their time to solving serious issues of the world. Moving on, the advantages seem to outweigh the disadvantages because some companies who are using the CSR approach to show themselves in a positive light in the eyes of the public are, on one hand helping the problems in the world and at the same time, gaining good publicity. It is also worth mentioning that companies who are looking of finding new ways of motivating their staff then from the survey by Net Impact will be a real wind in their sails because by using CSR it will not only motivate the employees but also allow them to make a little pay cut. Surely, if these are the advantages of taking CSR then it will certainly be worth it.
It demonstrates that there can be no universal approach that would suit all relatively similar organizations. First of all, management always has to consider mentality, values, and norms existing in their local community, while also keeping in mind the attitudes existing in other communities and in the global market. At the same time, internal interests are no less significant in this matter, which is why great sensitivity is needed in the process of CSR creation and establishment. Thus, this article addresses both internal and external aspects of CSR as the parts of inseparable whole. It does not have independent and divided sections for each part as they are discussed in connection to one another, which is a realistic representation of an organizational decision-making process. In this way, the authors provide a practically applicable guideline that may be used to determine the most suitable CSR initiative, the methods of communicating this initiative to stakeholders, the resources that can and should be used, and the ways to involve stakeholders in the process of implementation as active participants rather than mere
Corporate Social Responsibility (CSR) is a word that is bandied about with really little regard as to what the full implications actually are. Consider a few thoughts: What exactly is a corporation’s responsibility? Who are the arbiters of CSR for corporations? What does it cost to “rein in” corporations? Why are some companies held to a different standard than others?
Corporate Social Responsibility, some may say it is an organization's duty to behave in an economically and environmentally acceptable manner but there is more to it that just that. A company has a duty to its shareholders, the duty to maximize benefits and avoid trouble, a responsibility to the employees and others who depend on that company for a living , and last but not least they have the duty to create a safe environment for everyone. A Civil Action by Jonathan Harr depicts a civil lawsuit that takes place in the United States. The lawsuit is filed by residents of a small town, Woburn, in Massachusetts, against two powerful corporations, Beatrice Foods and W.R. Grace, for polluting the water in the local river with carcinogen TCE and causing the deaths of many children. A Civil Action by Jonathan Harr demonstrates that the issue of Social Corporate Responsibility is prevalent throughout the piece but because of the adversary system of law there is no place for apology just winning for both parties.
Corporate Social Responsibility (CSR) is the set of regulations that an organization makes to protect and increase the society in which it functions. There are three areas of social responsiblity: Organizational stakeholders, the natural environment and general social welfare.
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.
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...
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.
Global sustainability is an integral part to any business’s practice and should be not overlooked by big firms in the
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...
There are now several concepts of CSR and its definition, along with the meaning across corporations. In my opinion, and according with our textbook in page 11. CSR is about a particular set of business and strategies that deal with social issues. In addition, we can clearly perceive that CSRs application along corporations has increase in the past decade due to the several local, and international regulations in order to enforce business to act responsible.
Business organizations regularly run into demands from various stakeholders groups when conducting day-to-day business. These demands are generated from employees, customers, suppliers, community groups, governments, and shareholders. Thus, according to Goodpaster, any person or group of people that can shape or can be shaped by attainment of the objectives by an organization is considered a stakeholder. Most business organizations recognize and understand their responsibilities to these groups and endeavor to honor and fulfill them. These responsibilities are often communicated to the public by a statement of principles or beliefs. For many business organizations, corporate social responsibility (CSR) has become an essential and integral part of their business. Thus, this paper discusses the two CSR views: the classical view and the stakeholder view. Furthermore, I believe that the stakeholder view has brought ethical concerns to the forefront of businesses, and an argument shall be made that businesses would improve both socially and economically if CSR, guided by God’s love, was integrated into their strategic planning.
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.
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
If the separation is the terminology of CSR(Corporate Social Responsibility), Corporate is the company or organizing that aims to profit. Social is a group of people who are related or have a common way of either natural include other living thing and environment surrounding. Responsibility is a duty is engaged to prevent and improve the bad results include the creation and maintenance of good results, which impact the stakeholder groups. Now a CSR project has been a collaboration of many organizations in many companies, so that everyone is aware of the rewards that made us live a good day. Activities related to corporate social responsibility in my activities consist of environmental responsibility, social responsibility and economic responsibility.
The sustainability of the ecosystems on which the global economy depends must be guaranteed. And the economic partners must be satisfied that the basis of exchange is equitable” (World). This quote demonstrates the complexities of sustainability. Another thing corporations should focus on when trying to be sustainable is their environmental impact.