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Essay define corporate social responsibility
Nature and concept of corporate social responsibility
Essay define corporate social responsibility
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The most used definition in relation to CSR is based on Carroll 's (1979) statement that “the social responsibility of business encompasses the economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time.” (cited in Fontaine, 2013). CSR is the carrier of many names such as “citizenship”, “social performance”, “corporate conscience” or “sustainable responsible business” (Fontaine, 2013). To understand to broad aspect of CSR, it must be considered for a complex perspective. Therefore Mureşan et al. (2010) states that CSR is the expectation related to the company leading to ecological, economical, legal, ethical and philanthropical responsibility and argues that many people do …show more content…
Practicality is tangible in the activities in relation to company 's employees, consumers, society and the natural environment. This view is supported by Medarevic (2012) introducing the CSR as a role of business to comply with the interest of entire stakeholders affected by business activities and not only shareholders of the business itself. In other words the CSR is the process of alignment the values and behaviours of the business strategy with the expectations and needs of stakeholders as well as employees, suppliers, communities, regulatory organs and society as a whole in order to earn the level of accountability and trust (Fontaine, 2013). CSR is a mechanism with self-regulatory principles within the business establishments complying with the law, ethical standards and norms at international …show more content…
The approaches applicable to CSR could have various forms. Many might think that there is no need for business to implement the CSR if there is no potential to any risk while others see it as a form or repayment what is considered as more correct perception. The society supports business to exist by creating a demand for products and services and therefore the business must feel obliged to repay society by creating profits; CSR perceived as an “Obligation” expressed by Fontaine (2013) who argues that businesses are accountable to their stakeholders, the actual owners of the business and that social improvement programs should be designed and determined by governmental bodies to address the “social good” through contributions in form of taxes made by the businesses. However in reality many businesses have been reluctant to become accountable for their actions, e.g. releasing carbon into atmosphere. As a consequence of companies limited acceptance of the circumstances and unwillingness to implement processes in order to minimise carbon emittance, the government approached the imposition of carbon taxes: “the more carbon, the more tax contributions”. This might lead to gradual improvement through promoting an innovative technologies (Medarevic, 2012). Another perspective is also available through realising how positive influence on society and economy have the companies by realization of their business activities. This is sometime
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 responsibility (CSR) invaded the corporate world over the last few decades. This concept has become an essential need for competitive advantage unlike its original role as a nicety. The companies have seen the business benefit of the initiative and stakeholders have appreciated the initiative. This has led to the wide application in the firm’s operational agenda.
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)
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.
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.
A corporations CSR should be shaped in order to fit the goals of the corporation, although every corporation’s CSR should differ, since most have different goals and different communities behind them. The CSR should be molded into fitting the corporation’s goals in order to make it easier on the corporation in giving back to the community while achieving its goals. For example, a corporation located in a desert wishes to be more efficient, by reducing water usage it is not only creating lower costs, which result in higher revenue, but also helps the community by not taking up so much water. Taking this into consideration, it is critical that the corporation goals and values are established and clear throughout the corporation, they should be developed by the board or directors and CEO, and the highest managerial level should stress their importance to the rest of the corporation. By making the goals and values at the top branch of the corporate hierarchy, it will be simpler for the corporates community to develop in order to nurture those goals and values. Therefore, a corporation can reach the “shared-value,” a value for both its shareholders and community in a simpler manner that can result benefiting the corporation in the end as well. Throughout the article many examples are given of actual corporations that have benefited and changed their CSR in order to fit their goals, therefore, providing solid proof that these methods work. Nevertheless, as acknowledged by the author’s themselves, most of the corporations taken into consideration where one’s that Harvard CSR students were employed
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...
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.
Many of us tend to believe that the main purpose of any business is to generate as much profit as possible. To operate on the market and be competitive, companies should make money in order to cover its fixed and variable costs. However, it is wrong to assume that profits should be the ultimate goal for the businesses. Recently, many corporations decided to transform their ways of doing business from a capitalistic approach towards more conscious and society-oriented way. Corporate Social Responsibility (CSR) - the term that is used to explain the mechanism that helps companies control its compliance with law, ethics and certain norms.
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.
The classical view of CSR is a prominent ideology which business organizations are seen merely as profit-driven organizations. Simply put, businesses work for the sole purpose of making a profit. Thus, this profit motive is the sufficient and unique social identifier that separates a business organization from other institutions in society. These business organizations have a limited, yet essential role in society. Social concerns are considered important, but businesses, in the classical view, are focused solely on the economic activities and are judged accordingly. By having a limited role in society (i.e.,...
In its contemporary construction, corporate social responsibility (CSR) is a result of the post-World War 2 period. It arose as a social consciousness movement that came to an increase in the 1960s, especially the civil rights, women’s, consumer’s and environmental movements, CSR has grown in significance ever since. CSR embodies an outlook that can easily be known as a strategic tool to investors.
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