Corporate Social Responsibility : Csr

CSR is all about businesses understanding the effects that they have on the community/wider world. Businesses will use this impact in a positive way to

Based on my interpretation of CSR, I see it as a voluntary obligation that companies have promised to their stakeholders to fulfill by improving, or at least not harm, the environmental and social wellbeing. When companies engage in CSR, they voluntarily promise to, for example, carry the responsibility to protect the environment and take actions against bribe or other corruptive activities related to their business. It certainly has some positive influences to specific areas based on my knowledge gained from other classes; nevertheless, when judge CSR in the context of total impacts on our society and environment, it is obvious that CSR has failed its mission to lessen the negative impacts of business based on the evidences that provided by the author. Also, since there is a strong positive relationship between CSR behaviors and consumers’ reactions to a firm’s products and services, it seems to me, now, that CSR for the most companies is just a fancy cover that helps them to create or promote a good image and reputation. The recent case that shows the failure of CSR of Volkswagen even make me believe that CSR programs may be just a marketing or public relation exercise for many

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.

In this article, “The Truth About CSR,” authors Rangan, Chase and Karim stress the importance in aligning a company’s social and environmental activities with its business purpose and values (Rangan, Chase, & Karim, 2015, 41). Outcomes of CSR programs should be a “spillover” and not a primary focus of a business, expressing concern towards social responsibility and corporations failing to contribute to society accordingly (Rangan, Chase, Karim, 2015, 42). There is a great deal of importance in companies refocusing their CSR activities on a primary goal and in providing an organized process for bringing consistency and discipline to CSR strategies (42). Rangan, Chase and Karim want corporations to understand why it is important for them to evaluate their CSR activities and refocus them towards the goal of reinforcing the firm’s societal and environmental actions, while also ensuring their actions add to the overall purpose and values of the corporation. According to the authors, even though

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.

Despite the increasingly obvious trend of CSR, conflicts around the topic are common especially in real businesses. Conducting CSR initiatives or programs requires investing corporate resources, including charitable giving, investing in green solutions, paying for better working environment and assisting community development, for returns that are usually distant and uncertain. For the decision makers within corporations, it is hard to judge because they would be at someone else’s expense to create social value. Another conflict occurs when it comes to the role of CSR in businesses’ development: whether it is harmful or helpful for the businesses’ profitability is still quite a concern, not to mention that the difficulties to get a measurable bottom line out of CSR initiatives.

The notion of Corporate Social Responsibility is a phenomenon globally known for many years. In spite of the fact that CSR has been neglected for quite a long time, nowadays several authors deal with this issue, as revealed by the development of theories in recent years concerning the topic. In spite of the fact that there has been a huge growth of literature it is still impossible to simply define CSR. Many definitions trying to capture the concept of CSR exist, but their content varies (Matten & Moon, 2008).

Corporate Social Responsibility (CSR) in its most simple of terms is a vision. More specifically, it is a vision that in a way almost minimizes what may be better for a company’s shareholders and investors, and increases its focus on things including the environment, its employees, its role in benefiting the surrounding communities and society, and more importantly making sure that we can continue to grow, thrive, and be self-sustaining. In short, it is a business model that puts an emphasis on the future over its profits. CSR comes from an evolving view that current and future generations deem it unacceptable for businesses and corporations to conduct business under a blanket of secrecy. All the written, and unwritten laws concerning competition as well as sustainability are being rewritten.

CSR is described as; “the principle that companies can and should make a positive contribution to society, of managing the social, environmental and economic impacts of the company” (corporate watch). Therefore, CSR indicates the activities the business should partake in that is not indicated or stated in the law.

Social responsibility has become a primal interest to the humankind for the past two decades. In the earlier days, the firms and organizations concentrated only on the financial part of the business and ignored the ethical, social and moral sectors. But in the recent times, the businesses are getting a grip of the significance of the social, ecological and environmental effects on their success. This has resulted in the emerging interactions between organizations and social segments thus giving rise to corporate social responsibility (CSR) . This paper discusses about the ways and methods of CSRs that are applied in the University of Wisconsin and the impact these methods created on the social, environmental and ecological fronts of the

Corporation are likely to experience competitive advantages by being socially responsible. The advantages that organization can experienced from adopting a successful CSR are intend to be intangible and long-term rather than tangible and short-term.(Lewellyn, 2005).

Corporate Social Responsibility (CSR) is difficult to define because it relates to so many different types of businesses and organizations. In the Exploring Management textbook, it broadly describes CSR as “the obligation of an organization to serve its own interests and those of its stakeholders” (Schermerhorn & Bachrach, 2016, p. 38). Then CSR is broken down into two differing viewpoints, Classical view and the Socioeconomic view. Classical view is concerned about the maximization of profits. On the other hand, Socioeconomic is centered around the society and how business or corporations positively impact society (Schermerhorn & Bachrach, 2016, p. 39). CSR has to be tailored to each organization for the company to understand the true meaning of it and how it affects the company as a whole. When companies make decisions they should think about the three P’s people, profit, and planet. How will this affect people and the society as a whole? Will this idea/invention bring economic benefits to the company? Lastly, how does the product or company affect the planet (Schermerhorn & Bachrach, 2016, p. 39)? Originally companies were not concerned or did not know the social impacts the company could have on the people and/or the environment hence the classical view. Now people have realized that “businesses should balance the pursuit of profit with genuine contributions to the public good” (Schermerhorn & Bachrach, 2016, p. 39). There is a

Companies also should look at being successful by recognizing the need of the triple bottom line. The triple bottom line is measured by a business economic performance and the impact on society elements of value creation are shareholders value, employee value, customer value and societal value. “Leaders in both business and civil society have focused too much on the friction between them and not enough on the points of intersection. The mutual dependence of corporations and society implies that both business decisions and social policies must follow the principal of shared value” (Presutti, p103, 2013). Even if it might cost the company money in the beginning to start CSR policies it is worth it in the end. Companies that embrace CSR policies will come out ahead the companies that do not. Good companies will keep loyal customers and customers are willing to spend more money to companies that have CSR than companies that do not. Companies need to treat their vendors, employees and customers with outstanding service and to be socially responsible to do well in today’s economy. Two companies that have shown good CSR are

Corporate Social Responsibility (CSR), defined as “the broad array of strategies and operating practices that a company develops in its effects to deal with and create relationships with it numerous stakeholders and the natural environment” (Waddock, 2004). Globalization and liberalization has reinforced with the introduction of corporate social responsibility, Developing countries need to focus more about the corporate social responsibility planning and implementation process (Kiran and Sharma, 2011). Corporate social responsibility is one of the most important issues and developments of 21st century

CSR has several definitions and can be comprehended differently by various stakeholders. One of the definitions mentioned by ACCA (2014) is “a company’s obligation to all of its stakeholders across all of its activities with the aim of achieving sustainable development in the economic, the social, and the environmental dimensions”.