Responsibility Of Corporate Social Responsibility

Large corporations hold a key role in the development within society and the environment due to the high demand of marketing of products which they offer to meet certain service and product quality standards to their customers. Nevertheless, these corporations also have a responsibility to involve themselves in corporate social responsibility (CSR). The practice of CSR is ever changing and is now beginning a new period, obtaining supplies from developing countries and building supplier relationships in these countries are becoming increasingly important, some might say even an obligation in order to survive in the current market. There is increasing pressure from immediate environments for companies to act as a profitable organisation whilst also engaging themselves in social projects which benefit society and environment.
In the current market, corporate social responsibility (CSR) is becoming as important to a company as accountancy or marketing, a company which does not take part in CSR could be seen as out of date or not accustomed to change, therefore seen as less desirable in every aspect, from customers to suppliers etc. Companies, which choose to take part in CSR, work hard to make it beneficial to all their stakeholder groups by being involved in activities which will be positive towards the business and also the social environment, making sure to maintain a healthy balance. The effects of corporate social responsibility (CSR) can not be underestimated nor overemphasised, it covers a wide range of business aspects including the running of the business and it’s effectiveness to its environmental impact and improvements. CSR is so diverse, it can even improve the quality of a product, by going fair trade for example to en...

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...mply just concerning themselves with their own selfish gains e.g. their profits. Companies who choose not to partake in CSR, in a societal manner open themselves up to heavy criticism from the public, who could also be referred to as non-government organisations (NGO’s). However this would be to group them and their ideas all together, which is near impossible within today's diverse society.
On the other hand, in today’s society, certain aspects of business have to be prioritised over adopting a positive sense of CSR, making it difficult for businesses as sometimes their interest in wanting to partake in profitable ventures overtakes their want to engross themselves in CSR. However within the business world, there are numerous academics who argue the beneficiary impact CSR can have on a business. Michael E.Porter and Mark R. Kramer(2003) are two of these academics,