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Define corporate social responsibility essay
Nature and concept of corporate social responsibility
Define corporate social responsibility essay
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Corporate Social Responsibility (CSR) is recognized as a well-known practice of global organizations. CSR generally describes the relation that exists between companies and society and the interrelationship between economic, social and environmental features. CSR also can improve the quality of life of different stakeholders, such as employees, owners, consumers, investors, creditors, social and other responsible and ethical performance. In fact, the concept of corporate social responsibility in the early 20th century in the United States brought up. Through the development and evolution of the concept of practice, there are several representatives of view. These theories include the "pyramid of CSR" theory proposed by the Carroll and CSR 2.0 proposed by Visser. In the 21st century, economic globalization deepens, many international organizations, from different angles on corporate social responsibility is defined. 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. The advantages of company implement CSR. In the view point of firms, CSR may also create new business opportunities. The firm created a competitive advantage through the ethical and responsibility and the firms also exposure from societal contributions in the media and communications make the marketing advantages. According to the European Commission's CSR's current strategy, which aims not only to minimize the negative impact of the enterprise, but also establish a conducive business and social innovation of new products and services... ... middle of paper ... ...ween the competitors. In addition, the company implement CSR will change a market conditional. In addition, the company implement CSR will change a market conditional such as cost of production and quality of production. In addition, because the environmental trend gradually increased so that the company had to use more environmentally friendly materials manufactured products and to achieve quality assurance company will use safer materials in the product. Companies in order to ensure the quality and environmental concepts have to pay more expensive manufacturing costs. Although the price of the product increase, but for consumers it is worth it. Conclusion, although the underlying foundations of CSR are not new, the practice of CSR has become increasingly important role, meaning and acceptance in the last decades on business community and the academic institutions.
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 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)
According to Investopedia.com (2015), corporate Social Responsibility (CSR) is a corporation’s initiatives to assess and take responsibility for the company’s effects on environmental and social wellbeing. More specifically, CSR involves a business identifying its stakeholder groups and incorporating their needs and values within the strategic planning. Failing to be “responsible” is regarded as a business risk. On the other hand, too responsible is also a risk (Klein, 2012). Thus, effective CSR is important to increase competitive advantage, increase sales, mitigate risks, enhance reputation, and contribute to business results to align the company with its business purpose and values (Ragan, Chase, & Karim, ,2015).
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.
Social responsibility implies that people and organizations have an obligation to act to the greatest advantage of their surroundings and society in general. Social responsibility, as it relates to business, is known as corporate social responsibility (CSR). As stated by (Dobers, P. and Springett, D. 2010) Corporate social responsibility is a business method that adds to supportable improvement by conveying financial, societal and ecological benefits for investors. It ranges from operation of standard good practices to change of society's prosperity.
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.
CSR is a concept where company involves in social and environmental in their business operations. This is done to achieve a balance of economic, environmental and social obligations.in simple terms giving a hand for those who are not capable of achieving with their objectives and attending to them so that they could make those objectives a reality. This could improve organizations cooperate image which would also leads to attain a high market share.
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.
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 defining the CSR, the triple bottom line is the most preferable theoretical model that would present the core concept of the subject area. As per the triple bottom line mode, it is notified that CSR of a company depends on three major responsibilities, such as, environmental, social, and economic factors. On the contrary, Carroll (2015) argued that each of the company needs to focus on four major responsibilities that include the ethical concerns as well. The global scenario is much more competitive than the domestic business scenario. The counterargument presented by Schmeltz (2014), who stated that the company must add the stakeholders while performing the CSR activities. However, considering these specific factors those contribute to the business sustainability, it is essential to understand the basic perspectives. The CSR activities in a global perspective should be concentrating on developing more societies or effective functionalities that turn out to be much beneficial for the societies. For example, providing the fair wages, fair trade policies, upholding the human rights, and resolving the ethical issues would be much beneficial in managing the social responsibilities in a global
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