Corporate Social Responsibility

In my paper I will be discussing the topics related to corporate social responsibility. Corporate social responsibility (CSR, also called corporate responsibility, corporate citizenship, and responsible business) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and

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.

jEthics can be addressed within financial performance in stating how companies remain consistent by implementing corporate social performance and how recent trends can impact the result. In the research article ‘A Study of the Link Between a Corporation’s Financial Performance and its Commitment to Ethics’ Verschoor (1997). He presents the latest trends of companies that are within an ethical perspective. “26.8% of US 500 largest corporations commit to ethical behaviour towards their stakeholders or emphasise compliance with their code of conduct.”(p.1509). Although a small proportion of major companies in US apply ethics, this demonstrates that competition is considered to be a significant factor through financial performance. Hence, in establishing corporate social responsibility this examines the level of ethics within the balance of standards between right and wrong through a financial performance perspective.

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 (CSR) is a very controversial topic. A question that has been debated for the past few decades is; is it corporately viable to introduce social responsibility as a proposed addition to the work ethic of business organisations. As well as, if adopting the framework of corporate social responsibility would yield positive improvements for those organisations.

As we all know, corporate social responsibility is a discipline in business practices. This is one of the business practice sector that is most demanding and constantly changing sector in business enterprise. Because of these demanding tasks that corporate social responsibility has posed on business, business leaders or stakeholders has been faced with the responsibility of bringing a favorable environment for business activities. The prospect of corporate social responsibility became famous in the 1960s. Many companies have used this term in an unlawful manner to benefit the business responsibility rather than overall business welfare, which it is meant for (Ferrell 2014, pp. 3-17).

Corporate Social Responsibility (CSR) is a public accepted standard for referencing the daily operation of a business which emphasises sustainability. It is not about how a business spends their money, it is about the way it makes profit. Business with CSR will gain their positive image in customers’ mind as CSR is not a law or rule that company must need to follow. (Haynes K., Murray A. and Dillard J., 2013:10) It is also viewed as a combination of business ethical, social, legal, economic responsibility. In case of Walmart’s business, it is a global retailed store which labelled as low-cost seller. However, numbers of negative rumours arose like discrimination, hiring illegal labour and poor working condition and therefore damaged the image of Walmart. (Morrison, 2011:421) And therefore the tension exists between CSR and Walmart. In these few years, Walmart aims for rebuilding their reputation to change the stakeholders’ mind like customers, suppliers and shareholders.

The idea of a perfectly clear and all-encompassing definition of corporate social responsibility (CSR) has been much deliberated and remains controversial. The research of Marrewijk (2013, p.95) elaborated on the significance of this ongoing debate among academics, consultants and corporate executives which results in creating, supporting and criticising of different concepts. This essay will illuminate CSR principles, consider different definitions and concepts and relate it to my definition. Furthermore, it supports the argument of companies’ interest in CSR only for profit maximisation.

According to Min-Young and Fairhurst (2009), corporate social responsibility is becoming a typical issue as several organizations attempt to incorporate social and environmental issues into the day- to- day operations of their businesses. However, an organization being socially responsible is not considered fad or a discretionary addition. Instead, one might argue that an organization’s interest in being socially responsible is what is described as a “reflective of a deeper change in the relationship” (Min-Young & Fairhurst, 2009, p. 140) between an organization and its stakeholders. Furthermore, Min-Young and Fairhurst (2009) stated that a critical perspective of corporate social responsibility appears to be the responsibility to work for the betterment of society. Thus, a socially responsible organization might be seen as an organization simply being a “good corporate citizen” (Min-Young & Fairhurst, 2009, p. 141). Theorists such as Wood believed that the fundamental idea of corporate social responsibility is that an organization and society are interconnected rather than “distinct entities” (Min-Young & Fairhurst, 2009, p. 142). As a result, society might have an expectation for desirable actions and outcomes from today’s organizations.

The idea of a perfectly clear and all-encompassing definition of corporate social responsibility (CSR) has been much deliberated and remains controversial. The research of Marrewijk (2013, p.95) elaborated on the significance of this ongoing debate among academics, consultants and corporate executives which results in creating, supporting and criticising of different concepts. This essay illuminates CSR principles, consider different definitions and concepts and relates it to my definition. Furthermore, it supports companies’ interest in CSR only for profit maximisation.

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.

Corporate Social Responsibility (CSR) is difficult to define because it relates to so many different types of businesses and organizations. In the Exploring Management textbook, it broadly describes CSR as “the obligation of an organization to serve its own interests and those of its stakeholders” (Schermerhorn & Bachrach, 2016, p. 38). Then CSR is broken down into two differing viewpoints, Classical view and the Socioeconomic view. Classical view is concerned about the maximization of profits. On the other hand, Socioeconomic is centered around the society and how business or corporations positively impact society (Schermerhorn & Bachrach, 2016, p. 39). CSR has to be tailored to each organization for the company to understand the true meaning of it and how it affects the company as a whole. When companies make decisions they should think about the three P’s people, profit, and planet. How will this affect people and the society as a whole? Will this idea/invention bring economic benefits to the company? Lastly, how does the product or company affect the planet (Schermerhorn & Bachrach, 2016, p. 39)? Originally companies were not concerned or did not know the social impacts the company could have on the people and/or the environment hence the classical view. Now people have realized that “businesses should balance the pursuit of profit with genuine contributions to the public good” (Schermerhorn & Bachrach, 2016, p. 39). There is a

Corporate Social Responsibility (CSR) has become imperative on business convention nowadays. “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Holme and Watts, 2000). The term CSR was appeared in the 1950s, but until 1989, Ben and Jerry’s was the first company which truly publish a social responsibility report (Coles, 2012). In recent years, numerous organizations evaluate firms on their CSR performance since the society is concerned about the CSR ranking. Consequently, business managers in various countries may treat CSR as an inevitable priority (Porter & Kramer, 2006). Nevertheless, CSR is still a controversial issue in the world. Some businesses are struggling to balance corporate and social aims due to the growing societal attention in CSR. This essay will compare and contrast arguments in favour of and against CSR from the perspective of firms.

Corporate Social Responsibility (CSR) has the negative connotation of “putting in extra effort to make a difference”. However… when large companies such as Pick and Pay makes it their responsibility to give back to the community it has the ability to change the lives of everyday, struggling South Africans. CSR can be defined as management’s obligation to promote and protect the welfare of all stakeholders. (1) It is clear that Pick and Pay has chosen to make a difference in the community and support their stakeholders.

Its not a secret that the fish population is in dramatic decline for the last 10 years. So as an international company Lidl really cares about following the international policies regarding ethic method of fishing, illigal fisheries, dolphin-friendly tuna. It also ensure that all the fish they offer to the customer, is caught under socially acceptable conditions.