Csr And Organization Performance : Csr

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.

CSR is everyone’s business. Corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefit society, Liz Maw, CEO of nonprofit organization Net Impact, noted that CSR is becoming more mainstream as forward-thinking companies embed sustainability into the core of their business operations to create shared value for business and society (Fallon).

There are many definitions to Corporate Social responsibility(CSR). One most common definition is that CSR is the consideration and response of the firm to issues that are beyond the regular technical, legal, and environmental requirements of the firm. From this definition we can observe that CSR is voluntary and includes social and environmental information. As for the CSR reports their job is to explain and discuss the CSR of a particular firm by publishing

Corporate social responsibility is most commonly defined by the relationship between a business and its stakeholders through the adoption and consideration of ethical, social and environmental concerns. CSR makes businesses accountable for the area around them, which creates the belief that these corporations must spend a considerable amount of time and capital on improving the local labour, environment and infrastructure. Many laws and partnerships are put into place by the government in order to encourage and promote

Throughout my research of what Corporate Social Responsibility (CSR) is, I noticed that many organizations have framed their own definition, considering a common ground between them. My own definition of CSR is the voluntary continuous commitment and responsibility on the effects that an organization has on both internal (employees) and external stakeholders (communities, environment) that go beyond legal or ethical standard required to operate, as well creating a synergistic relationship between the two parties promoting win-win relationship based on trust and the positive perception that reflects the organization to the community. (Mirvis, 2012, p. 110)

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.

It is widely believed that Corporate Social Responsibility (CSR) is one of the most important tasks in the twenty century. Some people may consider that companies have always been the profit organizations, and social affairs are in charge by the government, which is a common sense that there are no directly relationships between each other. However, CSR is considered one of the key elements to sustain companies to vary their original operation levels. In this essay, I attempt to outline the different definitions of Corporate Social Responsibility and evaluate the reasons why CSR became a prominent part of the business world by actual

Corporate social responsibility (CSR), which is a popular debate topic over decades, has divided into five major dimensions over time. They are known as the stakeholder dimension, the social dimension, the economic dimension, the voluntariness dimension and the environmental dimension in research (Dahlsrud, 2008). The relationship between CSR and company’s performance, which is classified as the stakeholder dimension, aroused a controversial discussion among different research studies. Some research reported positive relationship in CSR and company’s performance (Mirvis, 2012), some research found negative results (Karnani, 2010), while there are also other research view CSR as

Corporate Social Responsibility (CSR) which can also be sustainable responsibility business/ responsible business strategy functions as a built – in, self-regulatory system whereby a business screens and ensures that activities are complied with, in the spirit of the laws, moral standards, and global standards. The objective of CSR is to embrace responsibility regarding the organizations activities and encourage a positive effect through its activities on the environment, consumer’s employees, communities, and all different individuals of the public who might be considered as stake holders. The basic underlying understanding of CSR concept is the voluntary engagement of companies to coordinate their business operations with the social and natural expectation of their stakeholders.

Social responsibility or also called Corporate Social Responsibility (CSR)- is the firm’s engagement (voluntarily initiated) in and its compliance (legally mandated) to environmental, social, and governance issues (The Foundation, 2014). Also, is based on stakeholder’s needs being financially sustainable, and CSR can come from both corporate or not-to-profit organizations. CSR has seven categories; Leadership, vision and values; Marketplace activities; Workforce activities; Supply chain activities; Stakeholder engagements; Community activities (Eurofound, 2017). CSR originated in the 1950’s, when people believed that the actions of corporations are closely related to society and the public, and should conform to and satisfy social values

According to The World Business Council for Social Development, corporate social responsibility (CSR) is the continuing commitment by businesses or organizations to behave ethically and contribute to sustainable development while improving the quality of life of the workforce and their families as well as of the local community and society at large. Moreover, CSR and the need for the design and implementation of a policy has spread geographically from its original US setting (Bowen, 1953) to become a global concept (Matten & Crane, 2005; Scherer & Palazzo, 2007),

The importance and significance of Corporate Social Responsibility is increasing day by day. It is said that CSR has been started in the early 20th century. As we can say that different critics have different meanings about the Corporate Social Responsibility, some believes that it is really good for a company who adopts its policy to show the good impact of their company’s product on the society and the environment. Whereas, some believes that the company are just green washing the peoples or the consumers mind by the name of adapting CSR policy.

According to Cheng (2014) many top executives as well as academics are focused in corporate social responsibility strategies like involving social and environmental concerns in their operation. Guo (2014) in his article states that CSR is the behavior demonstrated to the entire stakeholder rather than stockholders alone by assuming the importance and necessity of the sustainable development. Lindrawati (as cited in Santoso, 2010) argues that business can’t be distinguished by ethical and responsibilities issues and do not always seek profit. CSR have become more common nowadays. According to KPMG International’s survey in Asia-Pacific in 2013, 71% of the 4,100 companies and 93% of the largest 250 global companies based on the Fortune Global 500 rankings were recorded being involved in CSR activities (Santoso, 2010).

The above discussion has shown the importance of corporate social responsibility for a company. There are many challenges which multinational firms face while fulfilling their corporate social responsibilities especially in developing countries. Griffin and Pustay (2007) assert that CSR requires engagement with internal and external stakeholders so it enables enterprises to anticipate better and take advantage of fast-changing expectations in society as well as operating conditions. This means it can also act as a driver for the development of new markets and create real opportunities for growth (Van Tulder and Kolk 2001).

CSR research has spent many years to promote company benefits in the regard of social responsibilities, so the CSR strategy consideration gained much importance in a firm working . Although CSR categories the responsibilities of a company but in real world it is not good due to three reasons, first the CSR categories are not differentiable, second CSR can be used as a moral substitute to hide the other