Corporate Social responsibility (CSR)
Corporate social responsibility is a corporation’s initiatives to take responsibility for the organization’s effects on environmental and social wellbeing. It may also be referred as corporate citizenship which may involve in incurring short term cost which don’t provide a sudden financial benefit to the organization but it can promote positive environmental and social change. Corporate social responsibility is also known as sustainable business practice and it is used to describe the work organizations do that has a positive impact on the society, the economy or the environment. Among academicians and practitioners of contemporary world there is an upsurge of interest towards social responsibility of the
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This also applies to institutions of higher education (Christensen et al., 2009). Regardless of the location organizations are located in, there is a great impact of their decisions and activities on natural environment. Organizations are now paying a great attention towards these impacts that may be associated with the organization’s activities resulting in generating pollution and waste. Such impacts are reduced by adopting an integrated approach that considers broader economic, social and environmental consequences of organization’s decisions and activities. For human beings to survive and prosper, environmental responsibility is a precondition and is thus a core part of social responsibility. Environmental issues are closely linked to human rights, community involvement and development, and other social responsibility core subjects (ISO/DIS 26000, …show more content…
(2010) examined the content placed on the website of top ten world universities regarding the subject of environmental sustainability. In the research it was shown that it is quite fortunate to find that these top ranked universities are certainly aware of their environmental impacts are striving towards taking adequate steps towards sustainability. The study also found the pragmatic steps taken by such institutes as part of their CSR included reduction of greenhouse gas emissions, decreased use of fossil fuels, and inclination towards using renewable resources. These institutions have also found to be creating specialized environmental centers in order to create a greater amount of awareness among students and staff members. In order to keep pace with top ranked institutes of modern world and to take JK towards greater levels of success, it is inevitable for our organization to bring about new dimensions and changes into the present approach and take upon its social responsibility with much more seriousness and pragmatism. This can be done through imitating the same steps taken by world’s leading universities and would hence ensure greater and positive consequences on the
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...
Windsor, D. (2001). The future of corporate social responsibility. International Journal of Organizational Analysis, 9 (3): 225-256.
The larger a company becomes, the larger their global footprint. IBM recognized that they were susceptible to devastating the environment with both their manufacturing and services. In order to become environmentally sustainable and remain an environmental leader, they developed the Global Environmental Management System in 1971 which identified impact projections. Some of the major sources that attributed to environmental impact were the use of chemicals and water-intensive processes. IBM focused on a means to more efficiently manage these processes, from storage, use and disposal. Furthermore, they went on to create more eco-friendly products that could be recycled. The EMS policy focuses on employee well-being as well as resource conservation and creating products that have less of an impact on the environment. These responsibilities and expectations are seen on a company wide spectrum, where IBM employees have a commitment to environmental leadership. Training is provided to all employees, who are consistently being updated and certifying their compliance with IBM’s expectations.
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.
Nowadays, corporate social responsibility (CSR) becomes an integral part of each company. CSR can be understood as a management concept and a process that links social and environmental issues in business operations to a company’s interactions with it’s stakeholders. CSR not only gives the company a chance to help society but also enhances company’s reputation and investors’ attractiveness. In this paper, we will show a brief description about CSR and effects of CSR on international business, including pros and cons when a company applies the CSR program. Besides that, I give my ideas on conflicts of interest beween shareholders and the company’s managers. And then, advantages and difficulties for companies implementing CSR in Vietnam will be defined. Although CSR was first introduced widely in Vietnam many years, it is still a new concept. Therefore, pioneers in this area are facing lots of challenges in running CSR programs in Vietnam.
It will be advantageous for the company if they can project themselves as responsible corporate citizen and an environment friendly company. Social enrichment schemes, recycling schemes and educational funds can be initiated to cater to this cause and long term goal.
In the article, The Truth About CSR by Kasturi Rangan, Lisa Chase, and Sohel Karim, the importance that coherence plays in corporate social responsibility (CSR), is emphasized. Throughout the article, corporate social responsibility application, within corporations, is broken down into three theaters. According to the article, many corporations do not focus on their CSR programs, and usually see these CSR actions as a secondary responsibility following the responsibility they hold towards their shareholders. It is argued in the article that in CSR is a key and essential block for corporate success, focusing on CSR coherence throughout all three theaters will bring positive results along the way, possibly making the corporation
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.
must work in tandem or there is no purpose for any of its existence. Unethical
resources of society could be used by the corporation to make profi ts as long as the corporation
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.
Thus, it is essential for graduates to understand and to have the capability to cope with various environmental challenges that we are facing today. For university students, most of their knowledge about sustainability is obtained from lectures. Whereas, Winter and Cotton (2012) illustrate that learning solely about sustainability is insufficient and that sustainability literacy must take into consideration students’ attitudes and dispositions in order to develop their strategies for reasoned decision-making. In addition, Winter and Cotton (2012) point out that the limitations posed by academic attitudes and disciplinary silos hinder the embedding of sustainability literacy in the formal curriculum. Therefore, if universities want to cultivate more students with sustainability literacy, then they need to focus on constructing more sustainable
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...
Improving and maintaining the earth’s environment is becoming a more important task every day of our lives. Due to ignorance and frequent carelessness, this important task is quickly becoming a critical one. For this reason, I took it upon myself to construct a strategic plan to enlighten my peers to the problems of our environment. I did this in hopes that it would encourage everyone to act responsibly towards improving and maintaining the environment. With ongoing threats to the earth’s water supply, atmosphere, and surface, I found it necessary to devise a method of environmental enlightenment. I plan to apply this method at my place of academic study, The University. If supported by the faculty and staff and approached with confidence and determination by the student body, I am convinced that our environment on campus would undergo a drastic improvement.
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