Assessment: Corporate Social Responsibility

1308 Words5 Pages
A company's success is usually assessed in terms of its annual profits. However, this view does not take into account ethics and sustainability. Examine the arguments for and against CSR. Should all companies be required to incorporate CSR within their local community? Introduction Although corporate social responsibility (CSR) has become a buzz point in the American business world of today, assessment of its prerequisites indicates that the topic may be more problematic than seems at first flush since modern-day companies straddle various cultures and perspectives and trying to please all may eventuate not only pleasing neither but also harming themselves. A company's success is usually defined in terms of its annual profits. However, society is also beginning to define a company's success in terms of its corporate social responsibility (CSR). This, according to Holmes and Watts (2000), constitutes five factors: Human rights; employee rights; environmental protection; community involvement; and supplier relations. Nonetheless, these factors, as Holmes and Watts (2000) themselves point out; vary from culture to culture depending on social rules and principles. In this way, critics of CSR may argue that particular cultural values may actually cause CSR to militate with company's material success and cause the company to falter. The situation may be particularly pronounced when the company, for instance, outsources and is, thereby, obligated to straddle more than one
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