Csr(References)

Friedman, M. (1970, September 13). The social responsibility of business is to enhance its profits. The New York Times Magazine.

Every organized company worldwide should have among its structure, one planning and coordination division in which social and business goals are integrated. Corporate social responsibility (CSR) programs are necessary for commercial business as an element of risk management and represent an outstanding mechanism for the stakeholders to identify weaknesses when their own actions or others conduct in its operating environment generate social risk. (Kytle and Ruggie 2005).

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.

In this article, “The Truth About CSR,” authors Rangan, Chase and Karim stress the importance in aligning a company’s social and environmental activities with its business purpose and values (Rangan, Chase, & Karim, 2015, 41). Outcomes of CSR programs should be a “spillover” and not a primary focus of a business, expressing concern towards social responsibility and corporations failing to contribute to society accordingly (Rangan, Chase, Karim, 2015, 42). There is a great deal of importance in companies refocusing their CSR activities on a primary goal and in providing an organized process for bringing consistency and discipline to CSR strategies (42). Rangan, Chase and Karim want corporations to understand why it is important for them to evaluate their CSR activities and refocus them towards the goal of reinforcing the firm’s societal and environmental actions, while also ensuring their actions add to the overall purpose and values of the corporation. According to the authors, even though

Some critics argue that corporations are fundamental entities responsible for generating a product and service to gain profits to satisfy shareholders. Milton Friedman and others argue that there is no place for social responsibility as a business function. These critics point to the rule of corporate law that prohibits a corporation’s directors from any activity that would reduce profits.

The format of the paper includes an analysis of the merging of CSR in the business management of an organization, case for and against CSR with intent to present an overview. Further, we present a case study of Sony Australia Ltd. a wholly owned subsidiary of Japan’s Sony Corporation focusing on their CSR strategies. Finally we conclude with some observations on the affiliation of CSR and business success and the role of ethics in sustaining a firm’s competitive edge.

Corporate Social Responsibility (“CSR”) is often described as the measures taken by companies to manage environmental, social and economic impacts of their business activities. Since the globalisation of economic and labour markets, CSR has become an argumentative topic. For companies to be considered as good in terms of CSR, they are required to go above and beyond of their legal requirements and take into consideration what is in the best interests of its stakeholders.

Through globalization the gap between the rich and poor has increased, while the rich get richer, the poor get poorer. This can be one of the many reasons why companies choose to be more social responsible as CSR aims to reduce conflicts between stakeholders. Although, individuals are aware that more companies are producing social responsible goods, companies can benefit from CSR practices in different ways. When companies decide to be socially and environmentally active, not only will the society and the environment benefit from the companies ethical practices, but they can also differentiate themselves in today's competitive market.

Corporate social responsibility (CSR) is the pledge a business makes where it promises to behave ethically and contribute to economic development while improving the quality of life of workforce and their family as well as the local community (Pride, Hughes, Kapoor 42). This practice helps to form or improve the positive image of the company. Businesses that follow the socially responsible model consider the impact of the company’s actions on society. This also includes promoting and supporting local, national and global causes, which is a part of CSR called corporate philanthropy, where businesses donate some of their profits or resources to charities (Taylor). Companies that show social responsibility this way must be devoted to doing so on a regular basis, because if don’t follow through with it, your organization may be viewed by the public as dishonest. Many critics of CSR believe that this model reduces the main goal of business, restricts the free market goal of maximizing profit, and also limits the ability to compete in a global marketplace (Pride, Hughes, Kapoor 47). Though critics may believe they are right, CSR gives companies a chance to address social issues caused by business’ and other factors and allows them to be a part

Businesses and big corporations face issues regarding their business ethical practices that may arise as potential problems. These practices could impact governments, the outside environment and society as a whole, if those said practices use exploitation and is harmful to its external environment. Because of this major issue, corporations are left with the decision to change the way they operate by applying a code of conduct that would improve their ethical practices suited for the needs of society. Corporate Social Responsibility (CSR) is the practice with which a corporation is essentially responsible for their misconduct, and will not only focus on making profits but provide a goodwill to society. CSR is an important implementation for corporations as it is beneficial to the business itself, as well as for its shareholders. With that being said, it also has its disadvantages. This essay will discuss the importance of CSR in the world of business, furthermore it will explain the principles of CSR, and then it will discuss the advantages and disadvantages it has for corporations.

Through the implementation of CSR, to create social and environmental benefits, from improving operational effectiveness, companies ultimately hope whilst increasing their opportunities to also increase their profits. If companies make known to their consumers of their enhanced operation of the social and environment areas from the introduction of CSR this can increase their profits. Consumers prefer to use companies that think about the environment. More and more people are becoming aware of the environment

Corporate Social Responsibility (CSR) is a concept whereby organizations consider the wellbeing of the public by taking responsibility for the effect of their actions on all stakeholders; customers, employees, shareholders, communities and the environment in every aspect of their operations. This responsibility is seen to extend beyond the statutory obligation to comply with legislation and sees organizations willingly undertaking additional steps to improve the quality of life for employees and their families as well as for the local community and society at large.

Today enterprises are more and more aware that their business success does not depend only on a strategy of maximizing short-term profits, but on protecting the environment and on promoting their social responsibility, including the interests of consumers. In a recent book by business and public policy consultant Adrienne von Tunzelmann called “Social Responsibility and the Company: A New Perspective on Governance, Strategy and the Community”, Ms.Tunzelmann argues that it is not necessary to suppose that companies face an inherent conflict in the choice between the pursuit of commercial success and contributing to the goals of society and the community in which they operate. She suggests that incorporating CSR policy into business strategy offers a number of advantages. It may, for example: be a way of motivating and building pride in employees and managers, contribute to the development of a “healthier” community, assist in identifying new markets, allow differentiation from competitors, maintain public confidence in the legitimacy of business operations, encourage a climate of trust and goodwill etc.

Also in many developed and developing countries, corruption is still widespread and there is a general lack of transparency and accountability which all give momentum to the emergence of csr. Finally, the growing awareness that csr is good for business has also aided its development. While the primary role of corporate executives is to maximize shareholder value, the global marketplace, where reputations matter deeply, dictates that shareholder value increasingly depends on corporate values. Business leaders understand that practising corporate responsibility affects their corporate reputation and brand image. Managers are becoming more and more aware that socially responsible investors and activist shareholders can impact the bottom line. For example, company executives recognize that their

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