Corporate Social Responsibility : A Strategic Concept

Businesses, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social

or so many years our society has been thinking of forming new creative and innovative businesses, which would be more environmental and customer friendly. Nowadays a large number of different companies follow the social, ethical, as well as moral consequences when it comes to their decision making. One of the relatively new concepts involving economic and social concerns is Corporate Social Responsibility. Many of us apply this approach not only at work, but also in everyday life without even recognizing.

There are conflicting expectations of the nature of a company’s responsibilities to society. However, those companies that undertake what may be termed ‘Corporate Social Responsibility’ must decide; what are the actual social responsibilities of these companies? I will present a possible paradigm. Also, I will look at the benefit to the business that employs proper management as compared the business with poor management. This research paper describes my view of corporate social responsibility and compares the social responsibilities of Delta Air Lines and Spirit

Corporate social responsibility “refers to business practices involving initiatives that benefit society” (Caramela, 2016). Categories of social responsibility can be environmental efforts, philanthropy, ethical labor practices, or volunteer work. Organizations need to be more socially responsibility than ever before in order for their businesses and the world to be able to have maximum sustainability. "Sustainability isn 't just important for people and the planet, but also is vital for business success… Communities are grappling with problems that are global in scope and structurally multifaceted — Ebola, persistent poverty, climate change. The business case for engaging in corporate social responsibility is clear and unmistakable” (Caramela, 2016). Corporate social responsibility is becoming a major priority for strategic development by corporations around the world. Management needs to take great care in understanding the relationship between the activities of their organizations, customers, the community, the government, the environment, and employees.

Director, Nonprofit Management & Community Service Program & Robert W. Scherer Professor Emeritus, Department of Management, Terry College of Business, University of Georgia, Athens, GA 30602, USA, and 1 Assistant Professor of Management, School of Business, Indiana University Kokomo, 2300 S. Washington Street, Kokomo, IN 46904, USA Email: acarroll@uga.edu; kshabana@iuk.edu

Corporate social responsibility is not going to solve the world’s problems. With that being said, corporate social responsibility is a way for companies to benefit themselves while also benefiting society. It allows companies to take small steps to make big differences in areas of need. Some may say that it is a bunch of “greenwashing” – the deceptive use of green marketing that promotes a misleading perception that a company’s policies, practices, products or services are environmentally friendly – but there is a call to action that inspires a company to get involved in the community (Kewalramani, Sobelsohn).

Corporate Social Responsibility (CSR) is something that affects all companies and should be an active factor in the company’s decision making. It is something all corporations need to care about. CSR is when business’ or corporations take part in an initiative or campaign for a cause that will benefit society and/or in some way make the world a better place (Taylor, 2015). Initially, Corporate Social Responsibility started to take shape around the 1950’s, but some say that it dates all the way back to the 1800s, the idea of CSR was seen (Carroll, 2007). One may think that because it is dated so long ago, it doesn’t have an important impact today nevertheless, it is proven that Corporate Social Responsibility is a pathway for entities to self benefit as they are in the process of benefitting society.

For my current event, I choose an article based upon the management topic of Corporate Social Responsibility (CSR). The article I choose was “A Purpose Beyond Profit”, written by Tony Schwartz, for the New York Times in 2014. As the title implies, it looks at businesses practices adopted by corporations that have surpassed just obeying regulatory laws to actually encompassing many sustainability programs to help society, even if means lowering their profits. In a meticulous analysis of the article, “A Purpose Beyond Profit”, I will summarize the main points of the author, show the important factors that support the main idea(s), reveal any holes in the main ideas, and its supporting arguments; further more I will provide counter-arguments to the basis of the article, and will discuss management theories that are applied in businesses today.

Corporate Social Responsibility (C.S.R.) is a theory practiced in the business sphere since fifty years. It refers to the duty of business organizations to adopt certain activities that will benefit the society in some way. Charity, health-awareness campaigns are few examples that a business undertakes to fulfil its objectives of C.S.R. According to this ideal, it is important for various corporations today to undertake such social activities, apart from merely focusing on their objective of profit maximization. But, is it an obligation that is most important than other objectives of business? This thought further leads us to another significant question – In contemporary settings, should corporations be guided by the concept of C.S.R.?

According to World Business Council for Sustainable Development, “Corporate social responsibility is the continuing commitment by business to contribute to economic development while improving the quality of life of the workforce and their families as well as of the community and society at large”. A social responsible company may be defined as a company which integrates and takes in active parts the social and environmental concerns of one’s community and society. Acting in a socially responsible manner is more then just an ethical duty for a company nowadays, it is something that essentially has long term interest in both the company and the community. The motive is to produce economic value for the company but as well for the society as

References: http://www.businessnewsdaily.com/4679-corporate-social-responsibility.html By Nicole Fallon, Business News Daily Assistant Editor June 19, 2015, 10:12 am EST See more @: http://www.businessnewsdaily.com/4679-corporate-social-responsibility.html#sthash.WryFEojn.dpuf https://en.wikipedia.org/wiki/Corporate_social_responsibility This page was last modified on 24 July 2015, at

In today’s modern business world, commerce implements operation, drive and manner notions with endorsement and adoption of corporate social responsibility as a matter of course (David Henderson 2004). The stakeholder groups, for instance, governments, communities, suppliers, employees, customers and stockholders persistently claim administrators to dedicate capitals to corporate social responsibility (McWilliams and Siegel 2001, 117). Despite the fact, strategic corporate social responsibility is far more selective on being a standing corporation rate citizen and also addressing the social issues that the corporate creates (Micheal E. Porter and

Corporations’ measured success by financial means only undermines the global impact companies can have on society. With the evolution of business into a global market, society requires corporations to emphasize social welfare beyond simple philanthropic contributions. A new initiative called Corporate Social Responsibility blends philanthropy, social initiatives, corporate responsibility, and corporate policy for the overall benefits to various facets of society, including but not limited to investors, employees, and local communities.

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

Many companies question whether positive acts of corporate social responsibility are beneficial to the organization’s profitability or simply cost the company money. Although practicing good corporate social responsibility can be expensive at times, the benefits and positive outcomes outweigh the costs spent. Among many other positive outcomes, acts of corporate social responsibility have the ability to increase investor relations, can benefit a company’s long-term image, and can lead to the development of new products. Thus, good corporate social responsibility is very good for business.