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CSR is beneficial for business
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Corporate Social Responsibility (CSR) is a concept that means an organization has to consider the regard of the world by taking responsibility for the effects of their behaviour on customers, employees, shareholders, communities and the environment. This responsibility goes beyond the legal responsibility to comply with legislation and sees organizations taking steps to better the standard of life for employees and their families as well as for the local community and society at large. Social responsibility is a concept that has been of concern to organizations for many years. Over the last two decades, the level of concern has increased in the business world. This has resulted in growing interactions between government, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. “Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions” (Anderson, 1989) . This paper will discuss the concept of social responsibility, types of Corporate Social Responsibility and the benefits of having Social Responsibility. Corporate Responsibility Corporate Social Responsibility is looked at as corporate citizenship, or responsible business. It is an organizations example adopted by businesses that want to improve their organizations, communities and more. It is a self regulating system that makes the organization commit to follow the laws of business and maintain a high ethical standard. Many times, corporate social responsibility results in businesses committing themselves to certain social goods, or even an attempts to approve the environment. Corporate Social Responsibility is a organizations promis... ... middle of paper ... ...ut will ultimately have a effect on the world. Companies with the Best Corporate Social Responsibilities According to the CSR Rep Track 100 survey the top 10 companies with the best Corporate Social Responsibility reputation are Microsoft, Walt Disney Company, Google and BMW, Damlier, Sony, Intel, Volkswagen, Apple and Nestle (Lyons-Hardcastle, 2013). This is the second year in a row that Microsoft was named the number company on the CSR Rep Track survey. According to the CSR Rep Track “study results show that companies that understand how to create positive perceptions of their CSR programs gain the benefit in terms of sales and recommendations from consumers. However, even the biggest companies in the world are struggling to get their message across to consumers despite spending upwards of $100 million on a year on their CSR programs” (Lyons-Hardcastle, 2013).
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)
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 a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. (Louche, n.d.). A normal company’s main purpose is to produce profit and some companies want to benefit themselves before benefiting the people buying that company’s product, relating that to CSR they will get a higher reputation and that causes a higher sales which means bigger profit. CSR is the responsibilities that businesses should apply in order to make that business better towards the people and towards the eco-system. A part of CSR involves following the code of ethics which are rules that will guide a business to respect and the right behavior in order
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...
Corporate Social Responsibility is also commonly referred to as “corporate conscience”, “corporate citizenship”, and “responsible business” [Wikipedia] and is a corporations way of regulating itself to insure their business practices are in line with ethical standards. Not only is it beneficial economically for a corporation to be socially responsible, but it benefits the corporation itself as consumers will appreciate the efforts and shareholders will have more trust in the company. Employees are also more likely to be loyal to a company that has strong ethics. Many companies will go out of their way to exceed expectations and laws when it comes to being socially responsible which definitely helps them out long term. [Wikipedia]
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
While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.
Corporate social responsibility and environmentally green initiatives are two in one within the hospitality sector of the tourism industry. The Arizona Grand Resort & Spa is a prime example of how corporate social responsibility and green initiatives intertwine and complement each other. The Arizona Grand Resort & Spa is located in Phoenix Arizona and is an AAA Four-Diamond resort. Comprised of event space, Water Park, salon and spa, restaurants, golf course, and athletic club. Corporate social responsibility is the responsibility taken by a corporation and its actions in its community, society, and environment, both directly and indirectly. Environmentally green initiatives, or environmental friendliness, can be defined as responsible decisions, which reduce the negative impact of an organization. This paper will focus on the application of environmental and social responsibility within the hospitality sector, as well as a deeper look into sustainable practices with comparison to guest satisfaction.
Now-a-days it is considered that CSR is one of the major concerns of organization’s business ethics. Companies increasingly increase their corporate social responsibility (CSR) and ethical management accepting the positive impact on the bottom line. The vast bulk of Standard & Poor’s 500 companies publish sustainability reports unfolding their program challenges and achievements. These pre-emptive efforts can pr...
Corporate Social Responsibility, a developing corporate virtue, crops from the concept of collective good where a company conducts itself ethically and strives to make a respectable contribution to economic development without compromising the quality of life of its resources and in fact improving the work & living conditions of their workforce, their families and the overall local community.
Business Ethics are much more than the buzz word stories on late night news. The Corporate Social Responsibility of a company goes well beyond that. “Business Ethics are moral guidelines for the conduct of business based on notions of what is right, wrong and fair.” (Bellow, 2012). Individual backgrounds play a huge role in person by person code of conduct can vary from employee to employer. To help solve some grey areas in what is ethically correct, companies now make a code of conduct that is over everyone in the company. This code of responsibility helps employees have better understanding of what is required of each and every one of them. “Corporate Social Responsibility is a business philosophy which stresses the need for
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.
It is important to understand the importance of corporate social responsibilities. If Corporate Social Responsibility is properly maintained and emphasized by companies, it can benefit the society, economy and corporate sustainability. It can also be cost efficient to companies. also the environment . But above all effect (CSR) varies companies to companies. Where some corporates seem to make all sorts of benefits from their coporate social responsibilities but few of them are also having loss by trying to maintain CSR without properly evaluating their resources. (Porter and Kramer 2006) has said The inferences where corporates need to evaluate their CSR actions to figure out if they add
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.