Corporate Social Responsibility: Now and Then

Oddly enough, Enron had a CSR strategy with a very good reputation for having a strong and well respected corporate responsibility known for generosity to the community and being environmentally responsible. (Sims & Brinkmann, 2003). In hindsight we see that they were playing CSR. Former CFO, Jeff Skilling once told a colleague, “Mike, we are a green energy company, but the green stands for money” (Bradley, 2008). The public should be very cautious when it comes to companies and their CSR efforts as unfortunately some are just

Enron, a once thriving Houston-based energy titan, is now reduced to a cautionary adage among Americans to what massive failure corporate greed could lead to. At its core however Enron’s ethical and moral behavior was sound and seemed to be aligned with industry competitors. In an opening statement to the Enron Code of Ethics issued in July 2000, Lay wrote: “As officers and employees of Enron Corp., its subsidiaries, and its affiliated companies, we are responsible

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.

Corporate social responsibility incorporates environmental, social, and economic dimensions that provide leadership and differentiation opportunities for perceptive organizations. However,

The concept of social responsibility likely has its roots in the Puritans and Quakers teachings of the 16th and 17th centuries. Puritans characterized humanity negatively, believing humankind to be hopelessly sinful. Quakers held a positive view, believing that of there is God (good) inside everyone. According to Heald [1970], corporate managements began to demonstrate social responsibility by considering community welfare as a whole in their goals to maximize profits and shareholders value. Shareholder response to social responsibility became more prominent during the 1980s. Broyles [1998] highlighted the role of shareholder activism, which was responsible for ending U.S. corporations’ involvement in South Africa during Apartheid. As a result, many management teams incorporated corporate social responsibility (CSR) into their management philosophy. At the time, CSR’s benefit to shareholders was debated widely. Those against CSR, used agency theory and the statement by Friedman [1970] which argues that the only social responsibility of business is to increase its profits, known commonly as the shareholder model of business. For investors, CSR can be viewed either through a Puritan or a Quaker lens. They can invest in firms that promote social responsibility (a Quaker approach) or divest in firms that are socially irresponsible (a Puritanical approach). Initially, religious organizations began to shun investing in corporations whose businesses involved

With the development of economy and society, large corporations not only have responsible for make profit to their shareholders, but also taking environmentally responsible and undertaking corresponding social responsibilities as well as other stakeholders. This point of view could be involve in the corporate social responsibility (King and Lawley, 2013). Additionally, the definition of stakeholders are individuals or groups which affected by an organization and have an interest in its activities (Freeman, 1984). Moreover, Starik (1994) stated that those who potentially have impact on an organization may also is a stakeholder. However, according to Lynch (2006) argued that when a corporation involve many stakeholders, they

When it comes to corporate social responsibility (CSR), that bottom line almost always drives the narrative.

Corporate social responsibility is no longer a new term for now business. More and more businesses and individuals began to focus on corporate social responsibility, such as specifying corporate social responsibility strategy, the implementation of corporate social responsibility programs, corporate social responsibility published annual report and listing. At the same time, more and more disciplines of Financial Accounting and Reporting has evolved in corporate social responsibility analysis system incorporate non-financial elements, such as carbon emissions, water usage and so on. However, a topic about corporate culture had become more prominent after 2001, when the Enron financial fraud scandal broke

A corporation ready to take responsibility for any impact of its decisions or actions of its stakeholders is one definition of corporate social responsibility. Incorporations corporate executives/ managers act in the interest of the people affected and involved within organizations known as stockholders. Many have argued thoughts on the topic of social responsibility, determining different groups to be served or to serve the corporation they exist, in this paper three articles will be examined. Milton Friedman will examine the stockholder model while R.Edward Freeman will concentrate on the stakeholder model and Joseph Heath on the market failures model. I will argue Joseph Heath’s market failures model

Windsor, D. (2001). The future of corporate social responsibility. International Journal of Organizational Analysis, 9 (3): 225-256.

In today’s free-market economy, where is your reputation stand for as a corporation often more matters than what products or services you offer. How the people feel about a company is solely based on their perceptions of good feelings, admiration, esteem, and finally, their trust in the company’s Corporate Social Responsibility practices (CSR). The companies with the best reputations will receive recognition from the public for their efforts and are on the right path of building a sustainable business for the future. A good reputation may include safe products and services, best workplace environment, financial performance, technology innovation, respectable leadership, socioeconomic justice, corporate governance and citizenship, and

Corporate Social Responsibility (CSR) is defined by Carroll as being split into four possibilities,”it is economically profitable, law abiding, ethical and Philanthropic” (Visser. W, 2005). Economic responsibilities is defined as being for profit purposes, managers focus is purely on the outcome of the business and the shareholders, there is

Organizations are expected to actively analyze the impact of their operations on the overall financial and social systems in which they operate. Businesses should know expectations of the society and then manage their behavior and actions to yield results that address those expectations. The implementation of corporate social responsibility plan by an organization is an honor to humanity and nature. CSR discourages organizations from engaging in activities that threaten the life of people affected by its operations. An example is waste management strategies a company puts in place to ensure an appropriate disposal of by-products. Waste materials can pose health dangers such as cancer, contamination of water and food which may result in illnesses or even death of community members.

For the past years, corporate social responsibility also referred, as corporate conscience has been a respected subject for discussion. Corporate social responsibility, unquestionably, contains more viewpoint than simply worried about the ecological impacts of associations. It came in people groups mind at the later 1880, time of essential modern advancement that associations ought to think about the thought of social obligation. Associations that are near to social obligation issues got to be worry about the principled ground of attaining to social commitment. Latter 1880 manifestation of the accountability for society has got soundness however after that period the association started to include in humanitarian force strongly (Adamsson and Johansson 2008). This study hopes to explore the corporate social responsibility and furthermore how and why affiliation its participate in corporate social responsibility. A number of multinational firms offering essentialness to the social and business substance that can give an organization a humane face and eventually it will bring notoriety and moment business advantage as individuals get to be unwavering to this. Thus, this is the reason organizations are taking CSR issue as an unquestionable requirement for getting an additional profit on present exceptionally aggressive world and along these lines happily keeping their buyer group protected from other rivalry.

Corporate social responsibility (CSR), otherwise called maintainable capable business, or corporate social execution, is a type of corporate self-regulation coordinated into a plan of action. In a perfect world, CSR approach would work as an inherent, automatic component whereby business would screen and guarantee their adherence to law, moral gauges, and international standards. If you are reading this introduction, chances are you work in your company’s department for community relations, corporate communications, public affairs, public relations, environmental stewardship, corporate responsibility, or corporate citizenship. In any case, it is pretty much as likely that you are a promoting administrator or an item supervisor, have obligation regarding some part of corporate charity, or are on staff at a corporate establishment. Then again, you may work at a publicizing, advertising, or open undertakings firm and be looked to for exhortation by your corporate