Corporate Social Responsibility : Corporate Responsibility

The importance and significance of Corporate Social Responsibility is increasing day by day. It is said that CSR has been started in the early 20th century. As we can say that different critics have different meanings about the Corporate Social Responsibility, some believes that it is really good for a company who adopts its policy to show the good impact of their company’s product on the society and the environment. Whereas, some believes that the company are just green washing the peoples or the consumers mind by the name of adapting CSR policy.

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.

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

The concept of social responsibility likely has its roots in the Puritans and Quakers teachings of the 16th and 17th centuries. Puritans characterized humanity negatively, believing humankind to be hopelessly sinful. Quakers held a positive view, believing that of there is God (good) inside everyone. According to Heald [1970], corporate managements began to demonstrate social responsibility by considering community welfare as a whole in their goals to maximize profits and shareholders value. Shareholder response to social responsibility became more prominent during the 1980s. Broyles [1998] highlighted the role of shareholder activism, which was responsible for ending U.S. corporations’ involvement in South Africa during Apartheid. As a result, many management teams incorporated corporate social responsibility (CSR) into their management philosophy. At the time, CSR’s benefit to shareholders was debated widely. Those against CSR, used agency theory and the statement by Friedman [1970] which argues that the only social responsibility of business is to increase its profits, known commonly as the shareholder model of business. For investors, CSR can be viewed either through a Puritan or a Quaker lens. They can invest in firms that promote social responsibility (a Quaker approach) or divest in firms that are socially irresponsible (a Puritanical approach). Initially, religious organizations began to shun investing in corporations whose businesses involved

Corporate social responsibility can simply be identified as a duty, which is not a legal obligation lately, under very much consideration by every multinationals, as well as the growing firm. The ongoing concern is meant to increase the awareness between the business Individuals, to implement and draw line which should clearly indicates that what social obligation an organization has towards the society.(Caroll,1970) (Caroll, Archie, B.(1991). The pyramid of corporate social responsibility is towards the moral management of organization stakeholder.

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.

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

A combination of recent changed to the world scene and pressures from public opinion now requires corporations to take on a new role, social responsibility. Corporate social responsibility is a corporation’s initiative to monitor and ensure compliance with the law, ethical standards, and norms. It can also be defined as corporation’s actions that further social good and go beyond the interests of the firm in order to make the world a better place. Essentially a corporation should embrace the idea of corporate citizenship, the idea that businesses are socially responsible for meeting legal, as well as ethical and economic responsibilities placed on them by shareholders. Although this is an alluring concept, it is also a flawed one. It

Q2) “Evaluate the relative importance of corporate social responsibility relative to other corporate objective” (40 Marks)

Corporate social responsibility is not a new concept; it has evolved significantly, and presently it contains a number of terminologies, theories, and approaches. Nevertheless, one of the main issues that arise in this concept if the theories mix approaches, which use words that have different meaning and motives (Adolphson, 2004). This paper will thereby discuss and present theories of Corporate Social Responsibility in the context of ethical or normative and instrumental motivation. The paper will discuss CRS in both perspectives, which are ethical or normative perspective that mainly focuses in developing a better society, while instrumental perspective mainly centers its ideas on achieving economic objectives by creating social activities.

As the dramatically growing of economies and development of technology in the last century. The term of Corporate Social Responsibility appears more often into public’s concerned and it has become a hot issue in recent years. This essay is going to discuss and provide an overview of corporate social responsibility (CSR) by debate some key issue in this area.

The main aim of a business is to earn profit but a business also need to fulfill the social and sustainability need along with its economic need this responsibility is known as Corporate social responsibility. CSR is The commitment of the business to seek after those strategies to settle on those choice, or to take after those lines of activity which are alluring as far as the target and estimation of our general public.(Carroll 1999,p.270) Now a days, relationships with customers depends on the value the company give to the social, economical and sustainable needs. In spite of the fact that executing CSR exercises rightly can prompt great impacts, for example, an expanding of organization 's benefits and a commitment to the social issues with boundless materials, without a significant learning of CSR may bring about terrible impacts, for example, squandering time and cash. According to research "Empirical studies regarding the relationship between CSR and performance are mix’’(shen and chang 2009, p.134) .This paper will talk about the significance of CSR about in meeting economical, social and sustainability needs and after that advantages and disadvantages.

Social responsibility is the accountability of companies for the contacts of its results along with actions on civilization and the surroundings, through crystal clear and ethical performance with the purpose of gives to continue progress together with the strength and the benefit of people. The truth so as to the expressions itself has tainted above this point also recommends that the significance qualified to perception for example, corporate social responsibility will maintain to progress in change with business supporting and common improvements. The conception of corporate social responsibility means that every organization have their own responsibilities as well as ethical and moral responsibilities in another sources of earning

Long before H.R Bowen, in his book ‘Social Responsibilities of the Businessman’ propounded Corporate Social Responsibility as a desirable directive for prosperous companies; it has been long practised as a mode of charity and philanthropy as advocated by various religious and family values. The concept of CSR since then have been intricately connected with the values of good governance which aims to usher a socially inclusive positive society which focuses on addressing cultural impediments, social issues and environmental sustainability. As proposed by the United Nations Environment Programme, companies should be ethically responsible and should strive