Evaluate the Relative Importance of Corporate Social Responsibility Relative to Other Corporate Objective

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

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.

Even though customers are a major key to success of any business, limiting CSR practices to an external group of stakeholder is insufficient. From the customers’ side, the focus is “on the corporate brand and its societal relationships with external constituencies.” (Lacey, Hensel 316). It is undeniable that implementation of CSR can attract the customers and lead them to be a significant are source of a financial gain. That is because CSR changes the way consumers behave in the market and alter their beliefs toward the company standards.” (Lacey, Hensel 316). Nevertheless, extensive focus on the social gains may cause the business to suffer financially. If that happened, the case is considered to be a failure of executing CSR. Again, this is a result of shifting all the business gears to benefit a sole group the stakeholders.

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

But why do we need CSR activities? I believe that nowadays due to the problem with ecology and environment consumers really pay attention to companies that act ethical to everything that surrounds us. CSR also help the company not to have a good impact on environment but also develop strong relationships with the customer, attract workforce, competitive

Corporate Social Responsibility is known for bringing long term benefits to a business organisations . Companies that demonstrate CSR will have a good image among the public . Business organisations should publicize their efforts and let the public know about their ongoing CSR activities .A business organisation which has a strong record of CSR tend to attract more customers . Customers will then buy more of the product or service and will be reluctant to change to another brand . A very good example is by Unilever . Unilever launched its blueprint for sustainable business in the

However engaging in CSR is being ethical and sensitive towards the things around the company, it can also instigate some kind of social irresponsibility. There are entities that try to pursue socially responsible agendas but end up behaving in a socially irresponsible way

Corporate social responsibility, or CSR, has been conceptualized rather broadly as the managerial obligation to take action to protect and improve both the welfare of society as a whole and the interest of organizations. In recent years, corporate social responsibility has been becoming increasingly important and is held

First, what is CSR? CSR is corporate social responsibility, which “refers to business practices involving initiatives that benefit society. A business 's CSR can encompass a wide variety of tactics, from giving away a portion of a company 's proceeds to charity, to implementing "greener" business operations” (Sammi Caramela). “Corporate social responsibility is a corporation’s initiative to assess and take responsibility for the company’s effects on environmental and social wellbeing. The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups” (Corporate Social Responsibility).

Lou and Bhattacharya (2009) maintain that CSR creates a level of ‘Moral Capital’, which then translates into ‘Relational wealth’ with different stakeholders. This is based on brand faith and credibility with costumers, affective commitment among employees and regulators, trust among suppliers and higher attractiveness for investors in general. Consequently it is important for organizations, to understand that CSR initiatives need to be communicated and transmitted to its group of interest. As Blomqvist and Posner (2004 cited in Comfort et al. 2007, pp.584) propose:

One of the primary reasons companies use CSR is to preserve the environment. Many large corporations have had bad track records in the past when it comes to pollution and a business no matter how large has a large carbon footprint. Even if the smallest amount of effort is used in order to reduce the amount of damage they do to the environment is good and that’s why we see CSR being implemented. For a long stretch of time companies in the United States of America have been destroying the earth slowly by cutting down forests, polluting water ways and disposing of garbage in large amounts in the ocean. Now that these companies have been under attack by the people and

Corporate Social Responsibility can be defined as a company’s responsibility to ensure ethical business behavior, contribution to the economic development of a country, improve the lifestyle of its own workforce and their family members, betterment of local community and overall society. It is some small amount of cost done by the company which effect can’t be seen in the present but in long term it promotes positive image for the company. Successful CSR program can take a company beyond government regulation and legislation. It is a sustainable program which a company can easily run with its other activities. It mainly defines areas of concerns and initiatives which can improve the relationship of customers, shareholders, suppliers, competitors and other stakeholders with the company.CSR helps to achieve organization’s objectives and guide a company toward what the company stands for and how it satisfy its consumers. CSR can also define in three words that are People, Planet and Profit. People represent fair labor practice and betterment of the community where it operates. Planet represent environment friendly business practice and last of all Profit refers to organization’s economic value created after deduction of all the costs from the revenue including capital costs. Now a day CSR is regarded as a tool for building brand equity through customer loyalty based on distinctive ethical values. CSR is also criticized by some critics. According to their

Corporate social responsibility, often abbreviated as ‘CSR’ is an approach taken by corporate companies of different purposes of the welfare of their workers, customers and as well as paying attention to ecological maintainability and responsible advertising. The term ‘CSR’ started becoming popular since World War II and has been a subject of major debate over whether a firm should solely aim for making profits or also consider giving back to its society, therefore, corporate social responsibility should be voluntarily embraced rather than being enforced. This essay focuses on the positive and adverse effects of corporate social responsibility on the companies as well as its importance for the society.

Corporate Social Responsibility (CSR) has been a much talked about topic and the importance of CSR has been increasing over the years. Companies that embrace CSR hold themselves responsible for their activities and strive to make a positive impact on the environment and the society.

The concept of CSR was initiated in the 1950’s in USA but it became established in early 1970’s. That time USA was facings social problems like Poverty, pollution and unemployment, also the huge fall in prices of Dollar. During 1980’s to 2000, corporations recognised and started accepting a responsibility towards society. Corporate social responsibility (CSR) is to focuses on the wealth creation for the optimal benefit of all stakeholders – including employees, shareholders, environment, customers, environment and society. CSR refers to the