Corporate Social Responsibility ( Csr )

3578 Words15 Pages
We examine firms’ use of corporate social responsibility (CSR) as one of their business strategies after a rise in public responses, has led to heightened corporate action. We find that firms are taking more corporate action due to more public scrutiny and fear of financial loss. We find there is an abundance of definitions of CSR but whilst they are all coherent, not one of these definitions is applicable to every industry. With further research, it is highlighted that it would be difficult to increase regulation of CSR and reporting standards whilst there is no clear definition to adhere to. We find that whilst companies use CSR marketing, it is not the only reason for using CSR as one of their business strategies.
2. Introduction
A sudden rise of public responses to issues media outlets reported in the 1990’s led to heightened corporate attention to corporate social responsibility (CSR). Activist organisations and public disgruntlement has resulted in increased government regulation mandating social responsibility reporting, seeking to hold companies accountable for social issues. Companies, now aware of the potential financial risks that activists and media can cause if business conduct is deemed deplorable, are still not clear how to address the risks. Seemingly obvious strategies for businesses would be either strategic or operational responses: neither commonly implemented, rather their response appearing cosmetic (Porter and Kramer, 2007). ‘Window dressing’ is
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