Data Analysis And Interpretation On The Cross Sector Between Corporate And Non Corporate Entities

In spite of all advantages mention earlier about ethically and socially responsible business practice, it also has disadvantages, limitation and challenges. The most common and obvious limitation would be the cost that comes together with every investment a business does in order to meet all publicity’s requirements, for instance setting up Ronald McDonald House Charities. Every business has a goal which is at the top of their goal list and it is to be profitable. What is more, it is challenging to maintain the publicity’s and stakeholders’ satisfaction when investing into the society, employees and the environment.

John Mackey, founder of Whole Foods once said "Business social responsibility should not be coerced; it is a voluntary decision that the entrepreneurial leadership of every company must make on its own." (Mackey, 2005) In today’s society it is increasingly common for businesses to actively identify and become directly involved in the country and the global social issues and needs. It is now common

The world we live and operate BusComm Enterprises in is becoming increasingly smaller as the development of technology allows us to be more in touch with what is happen on a global scale. This allows BusComm Enterprises an opportunity to increase our Corporate Social Responsibility by partnering with a local charitable organization that reaches beyond the boundaries that are drawn a map and helps those who are facing a humanitarian crisis.

Continuous changes in the world’s economy have forced companies to go beyond their commercial purposes and pay attention to the importance of social actions. One of the first scholars to initiate the requirement of social initiatives for corporate enterprises was Bowen (1953). He argued that businessmen should aim broader than just maximizing profits for shareholders and should contribute to the society as well (Carroll, 1999). Eventually, more scholars performed research on a firm’s corporate social responsibility (CSR) and tried to define this new insight. A few decades later, Elkington (1997) introduced the term ‘Triple Bottom Line” (Carroll, 1999). He referred to three dimensions that could be impacted by a company’s system and policy,

In today’s world, corporations are being judged by how impactful they are on social, civil and political issues as it relates to society at large, and it behooves organizations to find their voice in advocating for causes that are meaningful (Fifka,2013). Once an organization has found a meaningful cause they can create healthy collaborative partnerships, with the government on mutually beneficial objectives to influence public policy through social lobbying (Lawrence, Weber, 2017). This idea is also underscored by Dr. Fischer when he mentions that businesses have a sphere of sovereignty to collaboratively worked with others to accomplish goals is a covenantal approach (Fischer, 2017). Firms can also address causes through instruments such as corporate social marketing. These instruments are campaigns that are created to change behavior as it pertains to public health, safety and the security of the community. Additional ideas for firms to be better corporate citizens are corporate volunteering, creation of foundations, venture philanthropy, donations and cause-related marketing

With the goal of “not just to be the best in the world, but to be the best for the world,” Benefit Corporations or B Corporations, want to be the change in the world by using business to combat social and environmental problems (B Lab, 2014. “Why B Corps Matter.”) . Designed for profit companies that want to consider their impact on society in addition to making a profit, B Corporations aim to “redefine success in business” (B Lab, 2014. “Why B Corps Matter.”). Whereas a traditional corporation has a goal to generate as much revenue and profit as possible, Benefit Corporations also work to create general public benefit and thus make it their responsibility to satisfy all stakeholders, not just shareholders. Because of their desire to benefit all their stakeholders, B Corporations work to create higher quality jobs and improve life in communities by becoming an agent for of change in passing legislation and investing capital to make a difference in the world. Besides being accountable to all stakeholders, B Corporations are more transparent than that of traditional corporations as they are required to annually issue a report to the public, assessing their overall financial and environmental performance against a quoted threshold known as the B Impact Assessment. In acting socially responsible as a mission rather than an option for businesses, Benefit Corporations are working to transform revolutionize the way business is conducted.

Everywhere you look, all around the world, there are corporations, businesses, and companies. You can hear about them through all different types of advertisements and news outlets. It seems as if we are always helping companies by supporting them. We buy their products and promote their business. One question a lot of people wonder are “How are companies giving back”? These businesses do this in many ways. This is called Social Responsibility (Schiffman & Kanuk, 2010). This is the corporation’s obligation to give back to the society in a positive way (Schiffman & Kanuk, 2010).

Drawing from these debates, Archie Carroll has developed “the Pyramid of Corporate Social Responsibility”, one of the most significant concepts of CSR. There are four kinds of social responsibilities that contribute total CSR, he suggested, Economic, Legal, Ethical, and Philanthropic (1991). Therefore being socially responsible does not mean forgetting the fundamental aspect of business, to make profit. The obligation of Law restricts business activities and they are the rules of the game which businesses have to obey. Being ethical is to perform actions that are fair, morally good, and of stakeholders’ interests, even outside the boundary of law. Considering corporate citizenship, philanthropic responsibilities are responses to the rising society’s expectations to business (Carroll, 1991). The notion of discretionary and voluntary distinguishes philanthropic responsibilities to ethical responsibilities. A good CSR firm should “strive to make a profit, obey the law, be ethical, and be a good corporate citizen” (Carroll, 1991, p.43) and without simultaneous fulfillment of the four responsibilities, the business should not be characterized as operating within CSR.

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

Corporations’ measured success by financial means only undermines the global impact companies can have on society. With the evolution of business into a global market, society requires corporations to emphasize social welfare beyond simple philanthropic contributions. A new initiative called Corporate Social Responsibility blends philanthropy, social initiatives, corporate responsibility, and corporate policy for the overall benefits to various facets of society, including but not limited to investors, employees, and local communities.

It is difficult for impact investors to find a good social company that is able to make profit and still have extensive impacts to the world. While philanthropists do not consider about the profit, but more about the impacts that can be

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

Organisations operating within a community are increasingly being recognised to include individuals and groups as its stakeholders in the long-term security and success of the organization. Therefore, it is important to include these community groups in the corporate and communications strategy to build a positive relationship. A frequently used term to define this strategy is corporate social responsibility (CSR) that is defined by Tench (2013) as how organisations plan and manage their relationships with key stakeholders. Although organisations are not a state, country or region, they are part of the infrastructure of society and thus, they must consider their impact on it. There is a significant debate whether companies should choose to

The idea of social entrepreneurship implies diverse things to various individuals and analysts (Dees, 1998). One gathering of scientists alludes to social enterprise as not-revenue driven activities looking for option financing methodologies, or administration plans to make social worth (Austin, Stevenson, and Wei-Skiller, 2003; Boschee, 1998). A second gathering of analysts comprehends it as the socially mindful routine of business organizations occupied with cross-area associations (Sagawa and Segal, 2000; Waddock, 1988). Also, a third gathering sees social business as a way to reduce social issues and catalyze social change (Alvord et al., 2004).

Stakeholder model is important for a successful company that pursues sustainable development. Most of the companies do not know how to implement the stakeholder model even though they have described the different aspects of the stakeholder model.