Corporate Social Responsibility Essay

734 Words2 Pages
bulb-icon

Recommended: Stakeholder theory

BACKGROUND
Unequivocally, the telecommunications sector represents one of the strategic engines for economic growth and social inclusion. At its core is the essential function of improved communication and accessibility. The ‘information society’ is becoming more dependent on the services provided by the telecommunications corporations. Therefore, the way in which telecom corporations accomplish their economic, social and environmental responsibilities has serious consequences for the entire spectrum of society (Telecom Namibia Annual Report 2004/2005; Müller, 2006). In line with the stakeholder theory, Corporate Social Responsibility (CSR) is defined by several scholars as “transparent business practices that are based on ethical values, …show more content…

Keller (2008) and Bankas (2010) further indicated that CSR initiatives are very instrumental in building corporate brand which provides a corporation with competitive advantage over other firms and establishes corporate credibility, reputation and distinctiveness.
Aaker (1991) indicated that establishing a corporate brand is not enough to give a company an edge over other existing companies. There is a need for firms to move a step further in creating strong awareness for their corporate brand; which is fundamental to achieving all the other elements of brand equity, brand association, brand loyalty and brand perceived quality. Pivotal to brand awareness are the following factors: brand attributes such as consumer expectations, competitor attributes, prices and consumer …show more content…

These findings are not reflective of CSR role and impact in relation to corporate brand awareness; hence, it is critically important to conduct an urgent inquiry so as to ascertain the relationship, if any, between CSR and corporate brand awareness and the impact of CSR on corporate brand

Show More
Related

  • The Top Three Competitiors of the American Repertory Theater

    807 Words  | 2 Pages

    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...

    Read More

  • Adam Lindgreen And Valerie Swaen's Article: Corporate Social Responsibility

    881 Words  | 2 Pages

    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

    Read More

  • Article Review: The Importance Of Corporate Social Responsibility

    1093 Words  | 3 Pages

    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

    Read More

  • General Electric's Corporate Social Responsability

    1774 Words  | 4 Pages

    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...

    Read More

  • Corporate Social Responsibility

    1700 Words  | 4 Pages

    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.

    Read More

  • Marketing Mix Strategy to Achieve Marketing Objectives

    779 Words  | 2 Pages

    Lamb, C. W 2010, Marketing (4th ed.). Cape Town, South Africa: Oxford University Press Southern Africa.

    Read More

  • AT & T Social Responsibility

    742 Words  | 2 Pages

    AT&T’S Corporate Social Responsibility Views In the corporate world, it is important for businesses to be aware of human rights issues and ethics in regards to making the best choices for others and the community. It has been stated how corporate social responsibility “expresses an understanding that the business is responsible for all relevant institutions and stakeholders” (Cayiragasi, Guven & Ozpolat, 2016, p. 207). That being noted, my current occupation at AT&T has demonstrated several manners in which Corporate Social Responsibility has affected the community and environment. For this homework assignment, the programs that AT&T use to contribute to society will be addressed, along with the effectiveness of their programs.

    Read More

  • Case Study Of Smoothie Fruit Company

    2785 Words  | 6 Pages

    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.

    Read More

  • Importance Of Corporate Reputation

    1659 Words  | 4 Pages

    The aim of this report is to apply the theoretical and practical ideas of corporate reputation and corporate social responsibility presented in this course to the organizations in the same industry.

    Read More

  • Corporate Identity Essay

    1746 Words  | 4 Pages

    It is widely understood from the communication research that organisations are gradually having their corporate websites to deliver corporate identity through their strategic use of information and message. The corporate identity through the strategic use of information in the website depicts the organizational image that imply their commitment to the ethical practices and social responsibility.

    Read More

  • Corporate Governance Essay

    724 Words  | 2 Pages

    Corporate governance is the set of guidelines that determines the control and organization of a particular company. The company’s board of directors is in charge of approving and reviewing changes to this set of formally established guidelines. Companies have to keep in mind the interests of multiple stakeholders, parties who have an interest in the company. Some of these stakeholders include customers, shareholders, management, and suppliers. Corporate governance’s focus is concentrated on the rights and obligations of three stakeholder groups in particular: the board of directors, management, and shareholders. Corporate governance determines how power is split between these three stakeholders. A company’s board of directors is the main stakeholder that influences the corporate governance of a company (Corporate Governance).

    Read More

  • Corporate Social Responsibility

    1916 Words  | 4 Pages

    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.

    Read More

  • Essay On Business Ethics And Social Responsibility

    853 Words  | 2 Pages

    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.

    Read More

  • Essay On Corporate Social Responsibility

    1275 Words  | 3 Pages

    Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...

    Read More

  • Importance Of Corporate Social Responsibility

    1000 Words  | 2 Pages

    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

    Read More

More about Corporate Social Responsibility Essay

Open Document