Corporate Social Responsibility Essay

The ethical issues presented in this case are the different views that each individual has on how the idea of corporate social responsibility (CSR). This dispute is between Mr. Milton Friedman, John Mackey, and T.J. Rodgers; all of which has a different outlook on CSR. The definition of CSR refers to the responsibilities that business has to the society in which it operates and to those actions that a business can be held accountable. Most philosophers have come up with three different types of responsibilities that corporations can be held accountable for. The first and most important of the three is a corporation’s duty to not cause harm. If a corporation can

Corporate Social Responsibility (CSR) is a very controversial topic. A question that has been debated for the past few decades is; is it corporately viable to introduce social responsibility as a proposed addition to the work ethic of business organisations. As well as, if adopting the framework of corporate social responsibility would yield positive improvements for those organisations.

Last few decades, Corporate Social Responsibility became more visible and every company is using it as a marketing tool. With strong commitment to Corporate Social Responsibility, Dannon need to communicate its Corporate Social Responsibility activates toward environment, people and nutrition and health benefit to its customers and stakeholders. According to Schiefelbein (2012), proper communication strategy is needed to effectively influence customers to balance threats and opportunities. -- To design a Corporate Social Responsibility communication strategy for Dannon to its customers, we need details of Dannon products, implicit knowledge of its operation and the customer base.

Company Q is a small grocery store chain who has struggled to maintain social responsibility. The company decided to close down two of their stores which were operating at a loss due to being located in high crime areas. In the existing stores, Company Q has answered to the demands of their customers by offering a limited amount of health-conscious and organic products, but has declined to help out the community by throwing out day-old foods instead of donating them to the local food bank. The decision to throw out the day-old foods was brought on by lost revenue due to possible employee theft and fraud.

In today’s world, corporations are being judged by how impactful they are on social, civil and political issues as it relates to society at large, and it behooves organizations to find their voice in advocating for causes that are meaningful (Fifka,2013). Once an organization has found a meaningful cause they can create healthy collaborative partnerships, with the government on mutually beneficial objectives to influence public policy through social lobbying (Lawrence, Weber, 2017). This idea is also underscored by Dr. Fischer when he mentions that businesses have a sphere of sovereignty to collaboratively worked with others to accomplish goals is a covenantal approach (Fischer, 2017). Firms can also address causes through instruments such as corporate social marketing. These instruments are campaigns that are created to change behavior as it pertains to public health, safety and the security of the community. Additional ideas for firms to be better corporate citizens are corporate volunteering, creation of foundations, venture philanthropy, donations and cause-related marketing

Shared value is a business strategy which focuses on creating overall value while addressing social problems. This concept of management strategy was expressed in the “Creating Shared Value” article by Porter and Kramer. Shared value is not just an aspect of a company’s growth strategy or general business operations. It is well integrated in the way a company operates along with what their goals are as an organization. The value created for a company’s targeted end user also has some sort of social impact which benefits their company purpose. Creating social impact is a company goal and success is measured through creating a shared value network. Porter believes that “The ability to address social issues is integral to profit maximization instead of treated as outside the profit model.” He is addressing that profits are not measured by impact not just monetary gains for the company, we can change our mindset to think of profit in a different way. Profit can be a benefit or some sort of added value. In this approach Porter argues that “Corporate social responsibility encompasses not only what companies do with their profits, but also how they make them.” This relationship is the driving force for a company’s development and future growth, and it goes beyond corporate strategy it also incorporates investments and key stakeholders for each company. Quantifying a monetary figure and amount for social impact may be extremely difficult, however it has progressed with awareness and

Do you agree or disagree with the following quotation: “There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say engages in free and open competition, without deception and fraud.” Milton Friedman, a Nobel Prize winning economist. In other words, the social responsibility of business is to make a profit.

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

Corporate Social Responsibility (CSR) is the concept that corporations are expected to perform certain acts for the betterment of society. The article “Doing Right Leads to Doing Well”, explores CSR by contending that although firms use these tactics for some societal good, they may also be linked with increased brand identification and consumer trust, which may bloat the firm’s bottom line. The authors maintain that CSR outputs such as sponsorship, cause-related marketing, and pure philanthropy can be positively correlated to both “in-role” and “extra-role” consumer behaviors. In-role behaviors consist of directly supporting the company through acts such as purchasing, while extra-role behavior is the indirect support

This is essay will focus on analyzing how corporate social responsibility (CSR) influences the investor relations of a corporation and whether it is good for the society, using Gasland and FrackNation as examples. In the contemporary society, CSR sounds like a commendatory term for the society. Over decades, it seems like that both the public and the media are trying to encourage corporations to behave more responsibly, and corporations are gradually becoming more socially aware in the contemporary society because they know they cannot afford the consequence of ignoring it. (Bernstein, 2009:606) However, CSR is not always beneficial. One of the major practices of public relations is investor relations, because the concerns of a corporation’s investors can directly relate to its welfare. When the corporations paid more attention on CSR, their investors will inevitably somehow feel ignored. As a public which has real material input to the corporations, investors are seeking for future returns, they want to be treated specially by the corporations that they invest. Also, value too much about CSR can make corporations become the victim of being morally hijacked, which may harm both a corporation’s financial success and the whole society’s harmony.

It is generally difficult to determine whether corporate social responsibility initiatives are easier to implement in small firms as opposed to large firms. Corporate CSR perspective is the ethical responsibility to society and social bodies as the firm adopts due to business, financial, societal, governmental, and, moral image outcomes in society. In addition, the firm adopts ethical responsibility to external entities, which society focuses on and as a result magnifies and sensitises business stance and associations with external social bodies. In fact, CSR is the result of a discussion amongst the firm and its stakeholders about responsibilities and expectations. (Corporate Social Responsibility: One Size Does Not Fit All. Collecting Evidence from Europe) The EU defines small firms as, those that employ 50 staff or less and have a turnover that is e10 million or under as stated in European Commission, 2003b. Small firms and large firms are different, particularly in such areas as financial revenue, resources, market share, numbers of staff and ownership title as it explains in Curran and Blackburn, 2001. (Investigating the Impact of Business Size on Small Business Social Responsibility: A Critical Review) Firm size triggers a particular implementation pattern of CSR, i.e. SMEs is strong in implementing organisational CSR associated processes in fundamental business procedures, where MNCs efficiently connect their obligations to CSR, yet generally lack

After reading these three articles, from my point of view, the main concern is the concept of corporate and social responsibility that businesses have to employees, consumers, investors, stakeholders and society in general. And if there should or should not be any responsibility at all. We can see how this idea evolved in the United States throughout the 20th

"Corporate social obligation is an administration idea whereby organizations incorporate social and natural concerns in their business operations and collaborations with their stakeholders. CSR is by and large seen as being the path through which an organization attains to a parity of financial, natural and social goals while in the meantime tending to the desires of shareholders and stakeholders."

There are now several concepts of CSR and its definition, along with the meaning across corporations. In my opinion, and according with our textbook in page 11. CSR is about a particular set of business and strategies that deal with social issues. In addition, we can clearly perceive that CSRs application along corporations has increase in the past decade due to the several local, and international regulations in order to enforce business to act responsible.

‘Corporate social responsibility’ (CSR) means that the firm has wider responsibilities in relation to objectives and people apart from the owners or shareholders (Beal and Goyen 2005). These responsibilities are achieved when the firm adapts all of its practices to ensure that it operates in ways that meet, or exceed, the ethical, legal, commercial and public expectations that society has of business. Objectives often associated with CSR include a responsibility to manage natural assets sustainably and not to pollute by chemical discharge, smell, noise, dust or other irritants; fair treatment of employees and ethical attitude towards clients. The other people include employees, customers, suppliers,