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.

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

As a result, CSR has emerged as an inescapable priority for business leaders in every country. Many companies have already done much to improve the social and environmental consequences of their activities, yet these efforts have not been nearly as productive as they could be—for two reasons. First, they pit business against society, when clearly the two are interdependent. Second, they pressure companies to think of corporate social responsibility in generic ways instead of in the way most appropriate to each firm’s strategy. The fact is, the prevailing approaches to CSR are so fragmented and so disconnected from business and strategy as to obscure many of the greatest opportunities for companies to benefit

Corporate Social Responsibility (CSR) has rose to an important thought when companies form their mission statements. In the global business community, this has increased for the last couple of decades. The expanding interest on how business practice is affecting the planet as well as the media coverage on corporate scandals have put companies in the spotlight as to how they can conduct themselves in a way that shows responsibility when operating their businesses. “Consumers more and more are looking to buy from socially responsible companies, and they’re actually willing to pay more for products in certain cases.” (Biery) Different watchgroups and media have made it a mission to finding and holding businesses accountable for the negative impact they may have on society. For example, many organizations actually rate companies on their activities and performance to corporate social responsibility. These ratings draw scrutiny from the ever-demanding public. Remember when Nike was cited using children to make their shoes at its Indonesian suppliers? Consumers ended up boycotting after publications such as the New York Times and other outlets recorded negative labor practices. Food companies and fast food restaurants are now being held accountable for the lack of nutrition in their products.

Corporate social responsibility (CSR), has been the centre of debate since the last decade, with the increase in technology and globalization, company policies have come under a lot of scrutiny. Although this issue is not relatively new but with the hype of increasing media coverage and in the wake of high profile corporate scandals (Enron, WorldCom) the emphasis has mounted (Huczynski and Buchanan, 2013). Organizations play a vital and ever so increasing role in the lives of people, other organizations and the wider community in general (Mullins, 2013). Hence it is the responsibility of these organizations to act in such a manner that accommodates the wider society. In 1970, economist Milton Friedman once argued “the business of business

In the today’s business world, there are many strategies being used to run businesses. In the recent past, the topic of Corporate Social Responsibility (CSR) has grown rapidly.

Corporate Social Responsibility (CSR) is highly important to Millennials. If a company is lacking a CSR plan, now it a good time to start one. Millennials are looking for ways in making a positive impact on the world and are expecting the same from companies. They are looking for companies that contribute to the betterment of communities and the environment. Millennials put great value in supporting such brands, companies and organizations that share these values. Companies without a CSR in place are potentially losing out on the millennial investor, consumer, and employee.

Corporate social responsibility has been a fixture in the business world for decades, and has become embedded in many universities as higher education leaders seek alternative ways to achieve sustainability (Weiss, 2016). Social Responsibility can be defined as a code of conduct and action beyond what is required by laws and regulations when running a particular organisation. As organizations do not operate in a vacuum, their activities will impact their surroundings which include their stakeholders, society, and other influenced parties (Nejati et al., 2011). Universities are a crucial part of modern society, and inescapably benefit from the communities in which they are based. A good university will look at finding ways to give back to

The issue of corporate social responsibility (CSR) has been bantered since the 1950s. Latest analyses by Secchi (2007) and Lee (2008) reported that the meaning of CSR has been changing in significance and practice. The traditional perspective of CSR was barely constrained to charity and afterward moved to the attention on business-society relations especially alluding to the commitment that a company or firm accommodated tackling social issues. In the early twentieth century, social execution was tied up with business execution. Thusly, business makes riches in the public eye and gives better expectations for everyday life.

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

The concept of CSR (corporate social responsibility), has been around for many years, it has continued to grow in significance and importance. Moreover, there has been a public debate and commentary on the same subject. For instance, (International Journal of Corporate Social Responsibility) argues that CSR has had social-political influence i.e. the political regime, culture and legal systems of many countries around the globe. More companies around the globe in are engaging themselves in CSR activities, as a result, providing more information on social and environmental issues to the mass. According to (Burritt and Schaltegger, 2010; Gurvitish and Sidorova, 2012), in the past, research that considers both CSR reporting and activity has

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.

In a competitive business environment, corporate social responsibility (CSR) is fundamental for an organization (Minor and Morgan, 2011). The coverage of CSR keeps on redefining, evolving and improving. Nowadays, World Business Council For Sustainable Development (N.A.) defines CSR as ‘the integration of business operation and values whereby the interests of the stakeholders, including customers, employees, investors, community, and environment are reflected in the company’s policies and actions’. According to Archie Carroll (1991,cited in D’Amato, Henderson and Florence, 2009), there are four different types of CSR: philanthropic, economic, legal and environment (Taylor, 1984). In the essay, it proves that CSR is not a practice that only

Recently, the expectations of society for companies have increased more than before (Craig, Bhattacharya, Vogel and Levine, 2010), so one significant issue that most firms have been actively involved in is Corporate Social Responsibility (CSR). Some may debate that it decreases company’s profits by spending much money on CSR. However, according to Needle (2004), ‘good’ CSR is also good for business, a firm could benefit from doing CSR. Thus, this paper aims to explain its importance. It begins with the definition of CSR and its four responsibilities, then presents how it influences a business and benefits it can bring. Finally, I am going to describe strategic CSR and discuss why firms have social responsibility.

One argument forcing an increase in CSR activities is for companies to gain competitive advantage. Companies engage in improved innovation and market positioning, resulting in competitive advantages. One of the examples of innovation, to gain competitive advantage, is the launch of Toyota Prius, a hybrid-electric vehicle (HEV). Toyota became the world market leader in hybrid cars after the launch of HEVs. In addition to the environmental benefits that HEV has to offer, this increased the top line of Toyota and they were able to licence the technology to companies like Ford. This added to Toyota’s profitability.