Corporate Social Responsibility Introduction The sole purpose of the enterprises is not only to

2000 WordsApr 23, 20198 Pages
Corporate Social Responsibility Introduction The sole purpose of the enterprises is not only to earn profit but they are also responsible for the development of the people and society. If the corporations continue to neglect their responsibility in the social sector then it will also eventually affect their business. Today, customers are more aware and they usually analyse a business based on their participation in the social sector. The concept of the corporate social responsibility is not very old. It emerged recently and requires the large corporations to spend a small share of their profits in the respected social projects. The concept of the corporate social responsibility is not legal but rather it is moral. It is not the legal…show more content…
This would be highly beneficial as it will greatly improve their image in the eyes of the customers and the overall society. The participation of the different multinationals varies from one country to another. Some or rather many, invest in developing countries and usually into sectors that are related to poverty alleviation, improvement of education, infrastructural development and protection of environment. CSR advocates is of a strong opinion that, by placing a commitment with them this would be highly fruitful. This was indicated in the 2002 survey of corporate executives from around the world, that indicates that 70% of global business leaders believe that CSR contributes to their companies overall profit margins. There are several reasons as to why this is of great importance. Therefore, with regards to the latter point, this paper discusses further with regards to the implementation of the corporate social responsibly in companies and the key areas influenced by it. Environmental and social principles of CSR Corporate responsibility responsibility (CSR) is a concept in which firms integrate in terms of social, environmental, and economic activities and in their interactions with their stakeholders on a voluntary basis. Stated more clearly and simply, is the business contribution to sustainable development issues. It should be noted that in 2010 the French Ministry of Ecology, Energy and
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