Corporate Social Responsibility

1990 Words8 Pages
Corporate social responsibility is becoming a key initiative and an essential tool in the growth of multinational corporations and the development of third world countries throughout the globe. The two concepts can work hand in hand to provide benefits for all; however difficulties in regulating and implementing corporate social responsibility need to be overcome before effective changes can be made.

Definitions of corporate social responsibility can be somewhat varied depending on the perception and perspective an individual or group has towards the situation; the definition has also varied through time. In general terms, Manakkalathll & Rudolf (1995) define corporate social responsibility (CSR) as “the duty of organisations to
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“CSR is now intertwined with international development and the related goals of poverty alleviation and sustainability,” (Blowfield, 2005). There are many benefits for a company who develops a high CSR profile. Although the costs of implementing a CSR strategy can be high, the overall outcome can prove most beneficial for both the bottom line and reputation of the company; as well as the development of third world countries and as stated above, the alleviation of poverty.

The Body Shop is an example of an organisation that is highly successful due to their deep commitment to social responsibility and environmental change. The core values that drive their business include being: against animal testing, supporting community trade, activating self esteem, defending human rights, and protecting our planet. The Body Shop thrives off these beliefs, and in staying true to themselves and the positive development of our world, they have become one of the most respected, internationally successful, socially responsible organisations in the world. Company CEO Jean Paul Agon states that “their values have been upheld for over thirty years…and they will continue to be nurtured for the benefit of all,” (The Body Shop Values CSR Report 2007).
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