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Nature and concept of corporate social responsibility
Why making ethical decisions is important for business
Why making ethical decisions is important for business
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Corporate Social Responsibility
Corporate Social Responsibility is define as intended actions of an organization that changes its company process to operate in an society, environmentally and feasible way which affect the community development and human rights.
Corporate Social Responsibility programs aim to provide value to the society while at the same time improve an organization’s reputation and leading to success.
In practice this can apply to an extensive of actions that organization could choose to take; protecting the environment is one attribute to social responsibility. Organization can address to problem such as poverty and hunger in third World Country too.
Social Responsibility also means how organization treats their stakeholder from supplier, employee and customers.
CSR influence the Organizational Behavior in BreadTalk
Corporate Social Responsibility can influence organization in numerous ways; these are a few methods that can influence organization behavior.
Corporate Image
Organization that includes CSR in their organization strategy is perceived by public as better companies which will enhance the organization corporate image. BreadTalk, by participating in the CSR program received media appreciation for their works, which increased their customer loyalty, financial profit and organization reputation.
Employee Relations
Employee morale was also increased as they are motivated to their work because they are doing something meaningful to the society. This will increase their job satisfaction and loyalty to the organization as they felt that they are playing a part of the good works that the organization is trying to do. This causes a greater assurance to the organization and it also encourage employee to imp...
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...wledge
Manager can do a research on the country their company is going to venture in. By reading newspaper articles, browsing on the internet or asking your fellow colleague to acquire related information regarding the culture of the country.
Language Training
Understanding the native language of the country help manager and employee to overcome cultural barrier and enable better communication with the native people. Language training also help employee shape the working environment which they are in.
Conclusion
Corporate Social Responsibility aim to gain profit and at the same time giving back to society. Breadtalk uses CSR program by coming up with peace panda to enhance corporate image and employee relations.
Manager need to understand the different culture and environment in the country which they are going to venture in to avoid cultural challenges.
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 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)
The topic of corporate social responsibility is play a key role to run a business and has become one of the standard business practices of our time. In current, most successful companies whether big or small enterprise for instance Apple, lnc. and Krotron has engaged in CSR because it is a good way for companies to benefit themselves while it also benefiting society. And in order to obtain benefits that can give them the advantage over their competitors.
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...
Social responsibility is the ethical framework which suggest that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. According to investopedia.com, social responsibility is developing a business with a positive relationship to the society they operate in. (Investopedia, 2003) “ For companies, the overall aim is to achieve a positive impact on society as a whole while maximizing the creation of shared value for the owners of the business, its employees, shareholders and stakeholders.” (Tennant, 2015)
Corporate social responsibility is the program aimed at reassuring companies to be more aware of the effect of their financial institutions on the rest of society, including their own stakeholders and the environment. Its main focus is to drive changes towards sustainability.
Social responsibility is the part of the framework of an organization or individual which makes up an obligation to act for the benefit of society. There are many different ways act out social responsibility. The social responsibilities of a business can be classified according to the businesses relationships to the general public, customers, employees and investors. The companies that make their product or service with the rooted mindset of benefiting the community and the world around them do this by providing things like scholarship funds, all natural products, biodegradable storage, and or just by treating the consumer as well as the employees as individuals rather than a corporate dollar sign. Businesses may exercise
Many different researchers has come up with a definition for the term Corporate Social Responsibility (which will be listed in Table 1) but no actual definition has been widely accepted by any business or business entity. Although no definition is the same the point that it brings about always stays the same. We would like to refer to it as a business entity that has a social responsibility towards the community and the obligation for the company to act ethically in term of the environment, socially, legally to name a
Corporations that place an importance on corporate social responsibility usually have an easier experience when dealing with politicians and government regulators. In compare, businesses that present an irresponsible disregard for social responsibility tend to find themselves fending off various reviews and probes, often brought on at the assertion of public service organizations. The more positive the public insight is that a corporation takes social responsibility seriously; the less likely it is that innovative groups will launch public campaigns and claim government inquiries against it.
Both of these areas are the lifeblood of the company, and any benefit to them should not be overlooked. Before a company can become proficient at corporate social responsibility, they must first know its definition. Corporate social responsibility is defined as actions that can be taken by a company to ensure they are adhering to ethical and social responsibilities of the day. These corporate social actions are self-regulatory, as a company strives to adhere to guidelines while also going above and beyond being a Good Samaritan in the business world (ECA, 2015). This can place certain businesses at the forefront in customers mind because of the example they are setting in the marketplace. A company going above and beyond the call of duty to work towards a more philanthropic approach in the surrounding community is a perfect example for corporate social responsibility. Going deeper into the definition, corporate social responsibility acts like a “double bottom line” for a company, as they strive to achieve financial goals, but also achieve their social mission out in the community. Once a company is aware of what the concept of corporate social responsibility is, they can now implement it and start to reap the many benefits of its
However, there can be more definitions about what Corporate Social Responsibility can be. For example, Corporate Social Responsibility can be the commitment which is continuing for a business to behave ethically and bring to economy the development to improve the workforces’ of the whole society and local community and their families’ quality of life. Corporate Social Responsibility is also known as the obligation of a company to serve the society’s interest and of course its own. With the help of the Corporate and Social Responsibility, social and environmental concerns companies can integrate into their business and stakeholders operations.
Public image is an important key factor for the corporations. Most of the consumers will not do the business with the corporation if they do not have any corporate social responsibility plans. Corporate social responsibility is important for every firm. If the firm is involved in donating funds or goods to local nonprofit organizations, charity or schools and if the raw materials they used in their products are environmentally safe so consumers will be more willing to buy the products from such firms and will be satisfied too.
Corporate Social Responsibility is management’s obligation to protect and promote their stakeholders welfare. Social Responsibility is more than just obvious ethical issues like honesty and integrity in business dealings.