Corporate Social Responsibility : Csr

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Corporate Social Responsibility (CSR) has become a hot topic in business for greater than ten years due to the scrutiny of company’s performance. It has been recognised that company’s need to look longer than just at a short term profit perspective. (Brammer and Millington, 2004; Idowu and Papasolomou, 2007; Knox et al., 2005). A greater amount of companies are choosing to adopt CSR, this may be due to the increased pressure to reduce their negative impact on society as a whole. It is now consider the norm for managers to take CSR into account with decision making.
Having a reputation for being socially responsibility can be a valuable asset for any company.
There are four perspectives that come under the heading of CSR and they are; economic, legal, ethical and philanthropic.
CSR may not mean the same thing to every company. Each company may have their own ideas on just what CSR means and can mean for their company.
Initially implementing CSR leads to increased costs.
Through the implementation of CSR, to create social and environmental benefits, from improving operational effectiveness, companies ultimately hope whilst increasing their opportunities to also increase their profits. If companies make known to their consumers of their enhanced operation of the social and environment areas from the introduction of CSR this can increase their profits. Consumers prefer to use companies that think about the environment. More and more people are becoming aware of the environment
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