Corporate Social Responsibility ( Csr )

When an organization partakes in “proactive behavior…for the benefit of society,” it is deemed as socially responsible (P. 155). However, prior to labeling a organization as socially responsible, it is important that we first identify what specific elements of proactive behavior constitute a socially responsible business. To begin, for an organization to be considered socially responsible on the highest level, it must take a proactive approach to doing business. This is defined as “[taking a] approach to social responsibility in which an organization goes beyond industry norms to solve and prevent problems” (P.155). In addition, it is standard for a socially responsible organization to incorporate a larger scope of stakeholders, to include external stakeholders, in their business decisions to create positive externalities, and mitigate negative ones, to benefit society as a whole.

To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society. Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate” (Straub,

A corporate company has social responsibilities that affect the public and their business is society’s

Sustainability is vital for business, now more prevalent than ever before. With the growing global concerns over the environment, taking effective and necessary steps in implementing CSR will prove beneficial, protecting the environment while driving profits. Consumer awareness is the new growing trend, shoppers want a better, new and improved product, information about where these products were manufactured and how production effects the environment and the economic status of their community. We cannot continue to mass produce without regard to our social responsibility. In this paper, I will show why there is a need for CSR and how this affects the bottom line.

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.

Porter and Kramer (2011), shared insights about how boundaries need to be set for capitalism. To prioritize societal and environmental issues and challenges within the organization while achieving economic success. In order for companies to reach a competitive edge, they need to balance their short-term costs against their long-term goals of profitability. While doing so, the global business recognizes the importance of building bridges between business, governance and communities to create ways to comply with societal needs, increase efficiency and branch out into newer markets and create differentiation. New growth opportunities and improvement of productivity gives rise to sustainability which inturn motivate and attract employees, business

While all companies focus on the needs of their shareholders, those who own the company, the truly extraordinary companies also focus on the needs and wants of the stakeholders. The stakeholders are the associates of the firm that have a stake in or claim on some aspect of the actions, policies and objectives of the business. These people often include customers, employees, local community, suppliers, investors, stockholders and government. Companies that operate with a stakeholder orientation recognize that business and society are interpenetrating systems, in that each affects and is affected by the other. There has been a evolution of social responsibility of today compared to 50 or 60 years ago. In the 1940s corporations had economic dominance and total authority of top management. During the 50s and 60s there were few formal governance procedures restraining management actions. Organizational charity expanded and laws were passed that required safe tools and space for the employees while also fostering diversity in the workplace. The 1970s brought large scale competition mergers and acquisitions and occasionally bankruptcies. The 1980s was a period of simplification small companies more power distributed throughout the company an onus on profitability and sadly more scandals. From the scandals of the past 25 years we have learned a great deal about transparency, liquidity, long-term

The term corporate social responsibility (CSR) is related to a bunch of behaviors that business and firms both undertake and to facilitate social and environmental targets and also to minimize the cost of potential society and environment that refers to business events. In addition, a sense of belongingness and motivation could be built by corporate social responsibility (Stawiski). As a hospitality enterprise with CSR, Holiday Inn has a couple of sustainable practices to address environmental and social challenges. For the environmental sustainability, Holiday Inn adopted IHG Green Engage System which is an online sustainability tool that helps their hotels manage waste, the use of water, energy and minimize the impacts on the environment. The organization also have CSR programs such as IGH Academy and Disaster Relief for the community. IGH Academy aims for people in the community to develop their skills by improving their employability and securing their jobs in the hospitality industry. For the Disaster Relief, Holiday Inn collaborates with local communities by providing financial support, supplies and accommodation in disaster time.

The issue of corporate social responsibility has recently been the subject of much debate. These debates pose the question “What responsibilities, if any, do corporations have to society and the greater good?” From a legal standpoint the answer to that question is none. Legally, corporations have no responsibility to participate in any type of social responsibility, in fact, doing so is illegal and can lead to directors and corporate officers being sued by shareholders. Although the specific law varies from jurisdiction to jurisdiction, the general idea is always the same, corporations are only responsible for making the greatest profits for their shareholders. For example, In Maine, Section 716 of the business corporation act reads in part: ”The directors and officers of a corporation shall exercise their powers and discharge their duties with a view to the interests of the corporation and the shareholders.” (qtd. In The Humanist). The opposition to these viewpoints believe however that the action of corporate executives participating in social responsibility will in fact not only benefit the community and the general public, but in the long run, the corporation itself along with its shareholders. Many believe, as do I, that as a society we are more likely to engage in business with corporations who give back to its consumers and who concern themselves with the betterment of our society and the world as a whole, and in turn the result for these corporations is larger

While this variability will inevitably exist, I propose that CSR can generally be defined as voluntary practices through which corporations, businesses and organizations utilize their own resources and power to benefit society, the community, the environment, social causes

In the class Business Environments we learned about Corporate Social Responsibility (CSR); the different theories of ethics; privacy policies at home, at work and involving children; who is liable when a product malfunctions or causes bodily harm to people and the damages that can be awarded to the injured parties; the differences in product/ property ownership and how to go about protecting said product/property. The general lessons for managers to take away from this class is that there are few times that the answers to question are cut and dry black and white. If you know how to work within the lines of the law, you can get away with doing things that are morally and ethically questionable.

“CSR is becoming more mainstream because pioneer companies are embedding sustainability into the core of their business operations to create shared values collectively for business and society.” - Liz Maw

CSR (Corporate social responsibility, also called corporate conscience, corporate citizenship or sustainable responsible business/ Responsible Business) (D Wood, 1991) is a form of corporate self-regulation integrated into a business model. In some models, a firm 's implementation of CSR goes beyond compliance and engages in "actions that appear to further some social good, beyond the interests of the firm and that which is required by law."(McWilliams & Siegel, 2001) CSR refers to the enterprise to create profits, bear legal responsibility to shareholders, while also commitment to employees, customers, community and environment responsibility, corporate social responsibility must go beyond the requirements of corporate profit as the only goal of the traditional concept, emphasized in production process of the human values of concern, emphasis on the environment, consumers, contribution to society.

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.

CSR stands for Corporate Social Responsibility and it is a concept with many definitions and practices and also a buzzword in the media. In general, corporate social responsibility is the policies and programs of business corporations which tend to benefit society while improving a corporation’s public image and profitability at the same time. The meaning of it is implemented in different countries and companies differently.