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The Impact Of Corporate Social Responsibility On Business Performance – Can It Be Measured, And If So, How
Impact of company social responsibility on society
Impact of company social responsibility on society
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Recommended: The Impact Of Corporate Social Responsibility On Business Performance – Can It Be Measured, And If So, How
To succeed against the competition, the UK construction industry must deliver quality products and services at acceptable costs as a matter of course. But increasingly its stakeholders all those it does business with or who are affected by its operations expect more from the industry in terms of how it operates and its overall impact on society.
To help meet these expectations the construction industry needs to address issues of community and social responsibility to build trust in its clients, build and retain the best possible workforce and build business success overall.
What a business produces, how it affects the environment, how it recruits, trains and develops its workforce, how it invests in the community and respects the rights of
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To succeed, companies need to attract the best people to work for them. Respect for people, their diversity and their need to achieve a good worklife balance is an important aspect of socially responsible business practice. Firms that fail to improve their attitude and performance towards respecting people will fail to recruit and retain the best talent and business partners.
The construction industry has a generally poor record on employment issues and under-performs on diversity issues. Large sections of the population particularly women and ethnic minorities are under-represented. The industry needs to demonstrate that it values all their workforce, their health and safety, their working environment, training and personal development and diversity, and that it maintains an active commitment to an equal opportunities policy. For this reason, the industrys own Movement for Innovation recommended that firms of all kinds and sizes should commit to achieving the standard of Investors in People as the most effective and most systematic means of developing and demonstrating respect for
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A successful company needs to operate with honesty and openness to create trust in its relationships with all its stakeholders.
Although there is no legislative requirement to report on social responsibility, companies that do so tend to be better perceived by their stakeholders. Reporting and communicating their impact on society can help to demonstrate openness and transparency about their operations, a willingness to be accountable for their actions and their seriousness of intent with regard to community and social responsibility, thus developing confidence in their business.
Reporting is, however, not an end in itself. The public will see through cynical reporting and attempts to be politically correct for its own sake. Companies need to demonstrate their commitment is real and produces real results.
Getting started
The principles of community and social responsibility need to be embedded into the overall business conduct of a company and become part of its core values and objectives. A badly targeted approach will be ineffective and companies need to identify the actions that will have most impact for them, manage them in a professional way and communicate to their stakeholders what they are doing. Without effective communication, no-one will be aware of their work. Without awareness, there will be no benefits to business standing or
Effective organizations are able to clearly define their ethical expectations by setting high moral standards, writing codes of conduct, and utilizing mentoring programs. “Masters provide your servants with what is right and fair, because you know that you also have a Master in heaven” (Col. 4:1). When organizations clearly define their ethical expectations to their subordinates, they are much more likely to treat their customers fairly. Customers who are treated fairly are much more likely to be loyal consumers of the products or services that the company provides. This helps to establish a loyal customer base that a business can depend upon, thus providing a predictable source of annual revenue. If an employer treats their employees with respect, honesty, and with candor they’ll give the customer 110% (Rion, 2001).
With all discrimination aside, what’s important is to show some honest respect, ethics, value, and loyalty to every employee.
Currently, XYZ Construction Inc. receives a majority of their contracts from the state government. The purpose of this essay is to analyze and discuss ethical and social issues, along with cultural diversity when expanding
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) can be considered as a concept defining how companies integrate social and environmental concerns in their business operations and how they interact with stakeholders on a voluntary basis ([18] EC, 2010). [61] Spence and Bourlakis (2009) argued that the UK Government discourse on CSR focused on voluntary practices rather than government intervention namely that corporate responsibility (CR) is the voluntary actions that an organisation can take, over and above compliance with minimum legal requirements, to address both its own competitive interests and the interests of the wider society(Ibrahim,
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
Construction industries are classified largely which comprise of skillful employee and general workers. As opined by Cassidy (2006), these are intrinsically demanding, hazar...
The corporate social responsibility is a commitment by a business to contribute to economic development while improving the quality of life for employees and their families’ as-well as contributing to the society. Walmart is a well-known company that offers customers the items they want and need at a low cost, with nearly 4,000 stores in the United States. According to the Fortune 500, Walmart was ranked number 1 in 2015. Just like any other superstore Walmart needs to continue the use of social responsibility by recreating a relationship between business and the community especially if they want to dominate the competition in 2016. The use of sustainability, strategic philanthropy, causing market, shared values, stakeholders and global perspective will help readers understand the purpose of social responsibilities in the corporate world.
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.
The construction industry is fundamental to economic and social development of the country. The UK construction industry has an annual turnover of over £ 100 billions and represents almost 10 % of the country’s GDP. The industry employs around two million people in more than 300,000 different companies. Improving transport infrastructure and modern efficient buildings play an important role in lifting the productivity of businesses in the UK. (ONS, 2011) At the same time improvements in schools and hospitals housings social, as well as providing high quality public transport, it all depends on the construction industry delivering successful projects. In a world in which environmental issues are increasingly paramount importance, an innovative construction sector holds the key to providing solutions that will meet the challenge of climate change and the efficient use of resources of the planet. As the investment industry driven, subject to the strictures of economic recovery and recession.
Encourage honesty at every level on the company organizational chart. Open-Mindedness Encouraging honesty lets employees share important thoughts, but it's only the firs step. In order to achieve organizational greatness, a CEO must be willing to truly consider feedback and input. A CEO's duties often pull him away from the action, immersing him in a world full of meetings and report reading.
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.
Recent years have been challenging for the whole country and particularly for the construction sector and the architectural profession. Challenging times do however, afford the opportunity for reflection and debate about what is provided and delivered by the architectural profession.
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