Current Practices Of New Zealand And Bangladesh

Based on my interpretation of CSR, I see it as a voluntary obligation that companies have promised to their stakeholders to fulfill by improving, or at least not harm, the environmental and social wellbeing. When companies engage in CSR, they voluntarily promise to, for example, carry the responsibility to protect the environment and take actions against bribe or other corruptive activities related to their business. It certainly has some positive influences to specific areas based on my knowledge gained from other classes; nevertheless, when judge CSR in the context of total impacts on our society and environment, it is obvious that CSR has failed its mission to lessen the negative impacts of business based on the evidences that provided by the author. Also, since there is a strong positive relationship between CSR behaviors and consumers’ reactions to a firm’s products and services, it seems to me, now, that CSR for the most companies is just a fancy cover that helps them to create or promote a good image and reputation. The recent case that shows the failure of CSR of Volkswagen even make me believe that CSR programs may be just a marketing or public relation exercise for many

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

CSR is become more important in this society. Business activities will influence the sustainable development and played a centre role in the sustainable development. Business should focus on the world trend and being responsible because it’s important to lead a business to success as “competitive conditions

Corporate Social Responsibility (CSR) has become a hot topic in business for greater than ten years due to the scrutiny of company’s performance. It has been recognised that company’s need to look longer than just at a short term profit perspective. (Brammer and Millington, 2004; Idowu and Papasolomou, 2007; Knox et al., 2005). A greater amount of companies are choosing to adopt CSR, this may be due to the increased pressure to reduce their negative impact on society as a whole. It is now consider the norm for managers to take CSR into account with decision making.

CSR is a highly controversial topic due to disagreements surrounding the field. Werther and Chandler (2014) defines CSR as ‘… the relationship between corporations and the societies with which they interact… includes the responsibilities that are inherent on both sides of these relationships”. The framework behind CSR tends to be broad with the ideas surrounding its importance changing from business to business. On a basic level, a corporation’s goal is to maximise profits. The role of technology and globalisation in today’s society means that, a company’s relationship with society is essential in projecting a positive image (Werther and Chandler, 2014).

It seems that the objective of the CSR has been misconstrued. Every company must have its CSR activities keeping in view the needs of the locality where it is situated and also the prevailing environment.

Corporate Social Responsibility (CSR) has become imperative on business convention nowadays. CSR can be defined as the way that firms manage the business processes to generate a positive influence on society (Baker, 2004). 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

One notable example of an organization that adopts significant CSR initiatives from a developed country is Starbucks which is an American multinational corporation. On the other hand, a considerable example of a company with significant CSR from a developing country is China Mobile which is still in its global expansion stage. The China mobile company is a Chinese multinational corporation. The two different companies offer an effective platform for comparing the CSR understanding and initiatives of different organizations from the developed world and from developing countries. What makes the examples even more effective is the fact that the two companies are different stages of development in the global business environment. This makes it

Corporate Social Responsibility (CSR), defined as “the broad array of strategies and operating practices that a company develops in its effects to deal with and create relationships with it numerous stakeholders and the natural environment” (Waddock, 2004). Globalization and liberalization has reinforced with the introduction of corporate social responsibility, Developing countries need to focus more about the corporate social responsibility planning and implementation process (Kiran and Sharma, 2011). Corporate social responsibility is one of the most important issues and developments of 21st century

CSR is majorly working in a sustainable proximity of optimal utilization of resources furthermore progressing towards societal development and the protection of environment. CSR has become an indispensable part of growth for companies all over the world. It aims to incorporate a self-regulatory mechanism wherein a business monitors and ensures its assent with the spirit of law, ethics and international norms. However for many organizations today corporate social responsibility is much more than just following the above mentioned practices, they believe in growing with the people and have set standards and goals in order to realise their notions of societal development. CSR helps an organization in many ways by building good reputation in the market; encourage a positive impact on the stakeholders both internal and external and also proves to be an aid to recruitment and retention particularly with such competitive world market.

To understand the nature of the phenomenon CSR and what it entails would require of us to strip today’s definition down to its bare bones, trace its past and look into its evolutionary future through the work of writers in this space. With this understanding, it may be possible to look into how CSR can be ported over to a context where culture, organizational and social, differ from where it was originally conceived- the more developed Western world.

Corporate social responsibility (CSR) is an increasingly important issue for all businesses around the world. CSR covers economic, legal, ethical, and philanthropic responsibilities of firms. Explain the factors that may motivate an MNE to adopt CSR in its international business strategy and operations. How might the country context influence the types of CSR initiatives undertaken? Support your answer with real world examples or cases.

Despite being costly to businesses from one end, these businesses understand the risk that lack of CSR can have especially in damaging their reputation. The negative image associated with the company will result in boycotting their products or lack of appeal in them which hurt businesses. In order to effectively manage CSR, businesses have realized that the traditional tools are failing in the delivery of goals and new tools have been devised for the same.

Inyang, Awa and Enuoh (2011) observed that traditionally CSR has been a top-management driven initiative nurtured from policy conception to implementation mainly by the organisations executives. Sharma, Sharma and Devi (2009) also noted that from the very beginning the key player in undertaking CSR activities in business organisations has been top management; other stakeholders who include employees have been rarely covered under the ambit of CSR. It will be argued in this study that the exclusion of other stakeholders, especially employees, and their non-involvement in CSR initiatives tend to affect successful implementation of CSR programmes. As Battacharya, Sen and Koschun (2008) have argued, this top-down approach to CSR creates a gap between top management and employees concerning appropriate sources and ownership of CSR initiatives. Perhaps a more strategic approach would be

Initiated by Bangladesh Bank (BB) in 2008, the CSR mainstreaming campaign in Bangladesh’s financial sector has enthused all banks and financial institutions (FIs) into a broad range of direct and indirect CSR engagements including humanitarian relief and disaster response; widening of advancement opportunities for disadvantaged population segments with support in areas of healthcare, education and training; ‘greening’ initiatives arresting environmental degradation, and so forth. Bangladesh Bank’s Green Banking & CSR department and its Offsite and Onsite supervision departments will keep track of adherence of banks and financial institutions to these indicative guidelines, as part of routine assessments of their quality of governance and internal controls.