Corporate Social Responsibility ( Csr )

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 (CSR) is a term used to describe a company’s efforts to improve society in a certain way. These efforts range from donating money to an organization such as a nonprofit organization, to implementing environmentally friendly policies in the workplace. This idea is not required for companies; instead it is something that companies do to improve their communities. The way companies practice CSR is different from company to company, and some companies may not even practice it at all.

While there is no universally accepted definition of Corporate Social Responsibility, it is usually described in terms of a company considering, managing and balancing the economic, social and environmental impacts of its activities. The notion of corporate social responsibility should be a part of the core business operations of a company, rather than a separate ‘add on’.[2]

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

Today , many corporate organisations are practicing Corporate Social Responsibility (CSR) as part of their company objectives . Their goal is to not only make profit but also to make a contribution to the society . Corporate Social Responsibility (CSR) is practiced by a business organisation by contributing to the community and environment . It is a basic responsibility for each and everyone , not only a person but also a business organisation to behave ethically towards social and environmental issues .Nowadays , more and more business organisation are carrying out CSR policies. Corporate Social Responsibility should not be viewed as a cost because carefully implemented CSR can bring substantial amount of benefits to the business organisation .

This is summarized in his statement, “there is one and only one social responsibility of business–to use it 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 open and free competition without deception or fraud (Friedman)."

Businesses and big corporations face issues regarding their business ethical practices that may arise as potential problems. These practices could impact governments, the outside environment and society as a whole, if those said practices use exploitation and is harmful to its external environment. Because of this major issue, corporations are left with the decision to change the way they operate by applying a code of conduct that would improve their ethical practices suited for the needs of society. Corporate Social Responsibility (CSR) is the practice with which a corporation is essentially responsible for their misconduct, and will not only focus on making profits but provide a goodwill to society. CSR is an important implementation for corporations as it is beneficial to the business itself, as well as for its shareholders. With that being said, it also has its disadvantages. This essay will discuss the importance of CSR in the world of business, furthermore it will explain the principles of CSR, and then it will discuss the advantages and disadvantages it has for corporations.

Corporate social responsibility is what a company uses to self-regulate itself and refers to business practices involving initiatives that benefit society. A business’s CSR can encompass a wide variety of tactics, from giving away a portion of a company’s proceeds to charity and implementing “greener” business operations. Companies use implement Corporate Social responsibilities for various reasons and this can be argued. Large corporations have a more reasons for CSR to protect their image Corporate social benefits also have many different benefits for the company.

Corporate Social Responsibility (CSR) is a public accepted standard for referencing the daily operation of a business which emphasises sustainability. It is not about how a business spends their money, it is about the way it makes profit. Business with CSR will gain their positive image in customers’ mind as CSR is not a law or rule that company must need to follow. (Haynes K., Murray A. and Dillard J., 2013:10) It is also viewed as a combination of business ethical, social, legal, economic responsibility. In case of Walmart’s business, it is a global retailed store which labelled as low-cost seller. However, numbers of negative rumours arose like discrimination, hiring illegal labour and poor working condition and therefore damaged the image of Walmart. (Morrison, 2011:421) And therefore the tension exists between CSR and Walmart. In these few years, Walmart aims for rebuilding their reputation to change the stakeholders’ mind like customers, suppliers and shareholders.

Notably, the ideals which Friedman (1962) clearly stressed: ‘Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible’ (p.133). He argued the desideratum of any other social responsibility for businessmen other than that of making maximum profits for their stockholders to exist. He reasoned the unavailability of determinant factors of such social responsibilities, taking into account that it is neither efficient nor reliable to enforce nebulous social responsibilities on corporations. Consequently, they opine that the concept of CSR is inimical to sound business practices and strays away from the basics of wealth creation (Clement-Jones, 2005; Murray, 2005; Jamli and Sidani, 2008). These academics feel businesses should involve in CSR “only to the

Business personalities, government officials, and loans are hedging more attention on the concept of Corporate Social Responsibility (CSR). The core issue is the appropriate responsibility of business. In as much as firms ought to obey the law, but beyond complete compliance with environmental laws, the question is whether firms have extra social responsibilities to commit part of their resources to environmental preservation voluntarily.

Corporate Social Responsibility is necessary for every organization and they have a uniquely distinctive approach to it. Let’s say for a business Corporate Social Responsibility is to manage business processes to produce a positive outcome for the society in general. For this the company needs to keep two aspects in mind while operating:

Corporate Social Responsibility (CSR) is the intention of the companies to do the right things and act in certain ways that are good for the company, society and environment. CSR was accelerated in 1970 (Archie B, 2006) and took into account since there was a concern between the increased population and scarce resources. It was established in order to ensure that the global development is sustainable. There are three fundamental aspects of sustainability, economic progress, communities’ relationships and environmental protection. This essay will report the managerial skills, leadership style and management practises in leading and managing an organisation to promote better and greener environment. Considerable research has been undertaken on Toyota Motors Corporation.

“Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of workforce and their families and the society at large.”

Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as