Definition Of Corporate Social Responsibility

In my paper I will be discussing the topics related to corporate social responsibility. 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 responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and

Introduction Letter from the CEO Hierarchy of Company Ethics Principles Our Purpose Our Values Our Principles Our Policies A. Respect of Government and the Law 1. Compliance With Legal Requirements 2. Accuracy of Company Books and Records • Books and Records • Disclosure Controls • Internal Controls 3. Securities Trading 4. Antitrust Policy and Compliance Guidelines 5. Lobbying 6. Political Contributions and Related Policies 7. Transacting International Business B. Respect in the Workplace 1. Behavior in the Workplace 2. Child Labor and Worker Exploitation 3. Wage and Hour Practices 4. Safety, Health and Environmental • Employee

Introduction Letter from the CEO Hierarchy of Company Ethics Principles Our Purpose Our Values Our Principles Our Policies A. Respect of Government and the Law 1. Compliance With Legal Requirements 2. Accuracy of Company Books and Records • Books and Records • Disclosure Controls • Internal Controls 3. Securities Trading 4. Antitrust Policy and Compliance Guidelines 5. Lobbying 6. Political Contributions and Related Policies 7. Transacting International Business B. Respect in the Workplace 1. Behavior in the Workplace 2. Child Labor and Worker Exploitation 3. Wage and Hour Practices 4. Safety, Health and Environmental •

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

Corporate initiative to assess and take responsibility for the company 's effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups.

Social obligation is a thought that has been of worry to humankind for a long time. In the course of the most recent two decades, be that as it may, it has happened to expanding worry to the business world. This has brought about developing communication between governments, organizations and society all in all. Previously, organizations basically fretted about the financial consequences of their choices. "Today, notwithstanding, organizations should likewise think about the legitimate, moral, good and social results of their choices" (Anderson 15). This paper will talk about the idea of corporate social obligation. It will examine the significance of partnerships setting up corporate social obligation ventures, and the effect these have on society.

People’s lives are increasingly controlled and shaped no longer by governments but also by corporations. For example, the liberalization and deregulation have given more influence, liberty and choices to private actors.

As we all know, corporate social responsibility is a discipline in business practices. This is one of the business practice sector that is most demanding and constantly changing sector in business enterprise. Because of these demanding tasks that corporate social responsibility has posed on business, business leaders or stakeholders has been faced with the responsibility of bringing a favorable environment for business activities. The prospect of corporate social responsibility became famous in the 1960s. Many companies have used this term in an unlawful manner to benefit the business responsibility rather than overall business welfare, which it is meant for (Ferrell 2014, pp. 3-17).

As the interest in corporate social responsibility has had the ability to keep increasing and developing and the force that is gain by movement, scholars and practitioners have put effort to follow the progress, development and information of companies’ performance to accomplish their corporate social responsibilities, characteristically to use a particular name corporate social performance (CSP) to describe it. Such corporate social performance shows people and stakeholders things that important about firms’ products, services and the processes of producing the products. It now is accepted by a great many people and in many markets, especially spread all over particular areas such as “environmental impact, social impact, employee relations, and corporate governance” (Kristoffersen, Gerrans and Clark-murphy 2008, 46). Phillip Morris International is an American multinational cigarette and tobacco enterprise, and it is a world’s most important and most successful international tobacco enterprise. It has six international brands within world’s top 15, and its products are available in more than 180 countries (Pim.com). The Philip Morris international company operates not only making cigarettes but also about the style of doing industry and commerce, and the way of having effects on the exterior of its offices, both domestically and internationally. The Philip Morris International aims to maintain both high domestic and international standards of being a socially responsible

When looking at a company’s corporate social responsibility (CSR) and the tie in to consumer confidence, the apparel industry illustrates both the best and the worst cases. Today’s consumers are more aware of how multinational corporations are incorporating or failing to incorporate CSR practices throughout the product lifecycle. This awareness has pushed companies in the apparel industry like Nike and Gap to evaluate current practices and incorporate socially responsible and environmentally responsible policies throughout their supply chain.

Supply Chain Responsibility is or at least should be part of a company’s Corporate Social Responsibility (CSR) strategy. CSR is a strategy that managers use to monitor, maintain, and often times improve the environmental and social impacts of their companies as well as how they interact with all of their stakeholders not just the shareholders for which their operations effect. Managers should use their CSR plains to balance the expectations of their often competing stakeholders with their environmental, social, and economic goals. Some fundamental CSR concerns are stakeholder engagement, environmental impact, responsible sourcing of raw materials, standards and working condition of the labor force, social and gender equity as well as good governance and anti-corruption control. CSR approaches focus on what is called a Triple Bottom Line for measurable results. The three measures are profit which is the economic value that a company creates, social which is the how the company treats its labor force and the communities for which it operates in and environmental which is how the company is engaged in the creation and application of sustainable practices that produce reductions or eliminates environmental impacts.

Corporate social responsibility (CSR) is about how businesses align their values and behavior with the expectations and needs of stakeholders - not just customers and investors, but also employees, suppliers, communities, regulators, special interest groups and society as a whole. CSR describes a company's commitment to be accountable to its stakeholders.

Corporate Social Responsibility (CSR) has the negative connotation of “putting in extra effort to make a difference”. However… when large companies such as Pick and Pay makes it their responsibility to give back to the community it has the ability to change the lives of everyday, struggling South Africans. CSR can be defined as management’s obligation to promote and protect the welfare of all stakeholders. (1) It is clear that Pick and Pay has chosen to make a difference in the community and support their stakeholders.

Different scholars and professors have defined CSR or Corporate Social Responsibility in many ways. Generally, CSR includes the responsibilities that businesses hold towards the societies they carry their operations in (Cadbury, 2006). The European Commission defines CSR as “a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment.” A more specific definition of CSR explains that businesses must identify their stakeholder groups and understand their needs and values and take those values into their operational and strategic decision making process (Cadbury, 2006).

This essay will evaluate the relationship between Corporate Strategy, Corporate Social Responsibility and will give some examples in order to give an idea to companies why they should engage in CSR and the consequences of engaging on it. It has been told that engaging on Corporate Social Responsibility is a cost, but recently has been demonstrated that if it is well managed the money that you put on CSR implementation can be taken into account as an investment. Companies engage in CSR not only because moral questions, it has been demonstrated that CSR is a door to an increase in the reputation of the company. In the long term companies realize that customers really appreciate the engagement of the company to social or environmental activities. Managers nowadays realize on how the consumers mind are changing towards a more responsible consumption and how these consumers look for information on how the products they consume have been produced. So these managers in order to increase in a long term base the good reputation of the company are investing nowadays on changing their strategy and trying all the company to engage in responsible practices. As explained in more detail in this paper the consequences of engaging in CSR are worth more than the cost of changing the company’ strategy. Some of them are the increase of consumer loyalty, investor attractiveness, political stability and economic benefits.