Csr: Food and Beverage Industry

The framework of corporate social responsibility is such that it is relatively complex and multidimensional. A three-dimensional

With employees placed at the top of stakeholder groups, it’s apparent that the hypothesis for high profitability is a direct influence from positive corporate social responsibility. The boards of directors have to take the initiative to showcase positive corporate social responsibility in order to generate these results.

Smith, A. D. (2011). Corporate social responsibility implementation. International Journal of Accounting and Information Management, 19(3), 231-246. doi:http://dx.doi.org/10.1108/18347641111169241

Petrenko. A. Corporate social responsibility [Power Point Slides]. Retrieved from Lecture Notes Online Web site: https://moodle.yorku.ca/moodle/course/view.php?id=39261

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.

The benefit to business of good Corporate Social Responsibility is difficult to quantify as it varies depending on the nature of the enterprise. Some scholars believe that there is a business justification for CSR. That is, what is good for the environment and society will be good for company profitability. And studies have shown a slightly positive correlation between CSR and financial gain (Steiner and Steiner, 2006). However, as Freidmanism claims, the first responsibility of business is to make enough profit to cover the costs for the future. If this social responsibility is not met, no other responsibilities can be (Hargreaves, 2006). Therefore it is critical that CSR activities are included in strategy formulation and that the level of resources devoted to CSR is determined like any other strategy – through cost/benefit analysis. Corporations will not throw money away…they need to see it

CSR lacks universal methods. The United Nations Industrial Development Organization (UNIDO) mentions that it is important to draw a distinction between CSR as part of strategic business management concept and charity, sponsorships or philanthropy. The latter applications make valuable social impacts that enhance the reputations of the companies, however, CSR is a continual effort instead of an instance. A few features that CSR should focus on are: eco-efficiency, employee and community relations, environmental management, gender balance, responsible souring, anti-corruption, stakeholder engagement and human rights. Utilizing some of these key features a company can bring competitive advantages into the market place. Increased sales and profits from operational cost savings as well as improved reputation and brand image and customer loyalty can result from a well-defined CSR strategy.

Critical evaluate the effects of corporate social responsibility activities on financial performance in UK retailing industry?

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

3. Socially responsible and ethical businesses can attract more investors. CSR can give a proxy for better management

Corporate Social Responsibility (CSR) can play a major role in a company’s financial situation. When a company invests in CSR, it can either bring additional costs to the company and hurt it financially or it can help the company and greatly improve its revenue. However, when studying this relationship between CSR and revenue, it is not a relationship that is easily analyzed. For

Explain with examples what is meant by Corporate Social Responsibility and discuss why it is important to modern business

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

In addition, Clarkson (1995) argues that some of corporate responsibilities to stakeholders are also related to social concern from society’s perspective. Furthermore, Brammer et al. (2006) state CSP has become principal component of business organization performance since a firm undertaking intense pressure from stakeholders, such as customers, employees, and socially responsible investors, to show their commitment and contribution to society in social and environmental issue. Hence, we may argue that CSP is a performance measurement which reflects firm’s response toward stakeholder demands and social issues that relates to long term performance.

Social responsibility is another integral component of a strategic plan. It is essential to integrate corporate social responsibility within the daily operations of an organization. By doing so, it helps ensure that the organization is moving toward the constant development and better interest for the public by attempting to reduce any potential negative impacts of its operations. As such, corporate social responsibility is an integral method of gaining a competitive advantage through the enhancement of its corporate image through the perspective of the stakeholders and the public. Knowing this, more and more organizations are allocating additional resources in an attempt to strengthen their commitment to society. This is commonly demonstrated in the reduction of environmental pollution or assisting in providing financial resources for various social causes (Min-Dong Paul, 2009). When an organization focuses on social responsibility