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Case study aabout social responsibility in business
Case study aabout social responsibility in business
Corporate social responsibility in modern business essay
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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?
To address why companies need to practice CSR, Liu and Liu in their article, “Implementing Corporate External Social Responsibilities Strategies Through, Organizational Design and Operations”, the authors, Liu and Liu, discuss the need for CSR in corporations. The corporation’s moral standard determines its obligation to its stakeholders, external and internal, and its commitment to CSR. Three things compose CSR, “what these moral standards should be, who are the stakeholders, and what kind of responsibilities corporations should accept” (Liu and Liu, 2009, p. 79).
A corporation’s primary focus for many years has been its shareholders. As corporations have broadened their focus, the needs of the stakeholder have a greater priority. Some corporations have neglected their external stakeholders. Chinese companies show more interest in internal stakeholders, shareholders and employees, and seldom consider the external shareholders (Liu and Liu, 2009, p. 79).
Responding to the external stakeholder’s has its benefits. Public attention to company’s CSR has its business advantages. The external stakeholder perception of a company’s external performance, its finances, the qual...
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...benefits many in a company’s community. The stakeholders provide valuable input in determining which CSR better matches the company’s philosophy and moral code. With the global stakeholders providing input, a company may discover that CSR mandates from foreign employees, consumers, and communities differ from those in their home countries.
Works Cited
Liu, S., & Liu, L. (2009). Implementing Corporate External Social Responsibility Strategies Through Organizational Design and Operation. Journal of International Business Ethics, 2, 79-83. Retrieved from www.americanscholarspress.com/content/BusEth_Abstract/v2n109-art8.pdf
McKnight, L. (2011). Demystifying Corporate Social Responsibility: Four Key Steps to Success. Greater Kansas City Community Foundation. Retrieved from www.gkccf.org/sites/default/files/resources/2011-GKCCF-White-Paper-Demystifying-CSR.pdf
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)...
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.
Shum, P. K., & Yam, S. L. 2011. Ethics and law: Guiding the invisible hand to correct corporate social responsibility externalities. Journal of Business Ethics, 98, 549-571.
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.
Earlier research by Bhattacharya and Sen (2004) showed that informing stakeholders is the only way to positively influence the attitude and behaviour of stakeholders regarding the organization and its CSR policies and/or business activities. Positively influence of the attitude and behaviour of stakeholders is also important organisations want to attract highly skilled and qualified workers. This is important because “the success of a business ultimately relies on the type of employees who work there (Blackman, 2006, p. 367)”.
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.
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.
In our global society, corporations are becoming increasingly visible, and are judged on their results and behaviour. The reputation of a brand is achieved, in part, as a result of corporate governance. By integrating corporate social responsibility into your business as a core value, you are contributing to a better society and will be recognized for doing so. Businesses can increase their CSR by supporting public expectations, focusing on long-run profits, complying to ethical obligations, boosting their public image, bettering the environment, discouraging further government regulation, balancing responsibility and power, remembering stockholder interests, and building a superiority of prevention over cure.
As the industrialization and globalization have become more intense for decades, the concept of corporate social responsibility (CSR) becomes more advocated and is employed by corporation globally (Smith, 2011). However, despite an urge for performing “good” social roles, there still be numerous of organizations showing their unwillingness to fulfill their expected responsibility due to the controversy of how the concept should be defined amongst academia, businesses, and society, in addition to the conflict of interests between a firm’s shareholders and stakeholders that accounts mostly for difficulties in implementing CSR practices. Therefore, the purpose of this paper is to dig deeper into above problems by presenting the definition of CSR and the importance of its role in international business along with the difficulties arising when implementing its practices on global scale, especially in Vietnam.
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...
Turker, D. (2009). Journal of Business Ethics. How Corporate Social Responsibility Influences Organization, 89(2), 189-204. Retrieved May 24, 2014, from http://0-search.proquest.com.prospero.murdoch.edu.au/docview/198048200?accountid=12629
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.
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.
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.
Corporate social responsibility is the commitment by business to behave ethically and contribute to economic development while improving the quality of life of workforce and their family as well as the local community. It helps in forming the positive image of the company. Corporate social responsibility considers the impact of the company’s action on society. Many critics of CSR are of viewpoint that it dilutes the primary aim of business and restricts the free market goal of profit maximization. Limits the ability to compete in a global marketplace. Though critics may be right in their place but CSR gives company a chance to address social issues caused by business and allow business to be the part of the solution.