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The nature of csr in a business
Stakeholder interests and influences
The main principle of social corporate responsibility
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Introduction
This assignment will initially describe social marketing and then indicate how corporations affect stakeholders through companies’ social marketing and responsibility. Following that, the importance and functions of corporate social responsibility (CSR) and social marketing will be demonstrated. Finally, it will explain how organizations reflect CSR and make a short conclusion to indicate the relationship between social marketing and CSR.
Social Marketing
In the past decades, the marketing environment has been changed radically. The approaches and philosophies of marketing have undergone a gigantic impact from the new social channels. Social marketing has emerged as required in the context. Kotler,P. and Zaltman,G (1971) firstly defined social marketing as “the design, implementation, and control of programs calculated to the influence the acceptability of social ideas and involving considerations of product planning, pricing, communications, distribution and marketing research”. Furthermore, that social marketing is different from traditional business marketing, which not only focuses on the market’s core values but also on more meaningful points for achieving the adoption of products by a balance between social short-term and long-term benefit, was a conclusion in their work. On the whole, social marketing considers more social values in the marketing process and reflects corporate social responsibility to some extent. The reason why social marketing is spread among enterprises is because social marketing can directly influence the stakeholders through reflecting CSR.
Corporates influence stakeholders
Stakeholders increasingly pay attention to CSR. Strong social responsibility and favorable corporate imag...
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Corporate Social Responsibility (CSR) is about how companies manage their business processes to produce a positive impact on society. Companies introduce new products in markets, usually after testing concludes that the product is safe for use or consumption. It is nearly impossible for a company to truly know all of the potential risks a brand new product may have, even after thorough testing. However, once a company receives reports that its product may be causing harm to consumers, it is their responsibility to conduct more research and tests to rule-out any possible truth in the reports. This is what a socially responsible company would do, one who is preoccupied not only with their bottom-line, but one that is also worried about its customers.
Social marketing is in the growth phase of its product life cycle. It came into prominence with the family planning promotions of the 1960s. It was mentioned in the works of Kotler and Levy (1969) and Kotler and Zaltman (1971). It gained acceptance over the years and currently, it is taught at many business schools and conferences and seminars regarding the same are regularly held the world over. It has become a major vehicle in the process of promoting various health and safety issues that affect society such as smoking in public, immunization of children, wearing of seat belts and driving under the speed limit, AIDS awareness programs, education of the girl child, etc.
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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.
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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.
6. Kotler, P., and Zaltman, G. (1971) Social marketing: and approach to planned social change, Journal of marketing, 35, 3-12.
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...
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