How Social Responsibility Helps Protect A Company 's Reputation?

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

In a fiercely competitive economy, good social reputations are companies’ biggest asset. Copious recent research established direct correlations between companies’ social responsibility and consumer purchasing behaviours.

Over the past few years, companies and businesses, have been concerned about how to keep and maintain a good brand image. This has been done through corporate social responsibility, which means contributing towards the society.

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

A combination of recent changed to the world scene and pressures from public opinion now requires corporations to take on a new role, social responsibility. Corporate social responsibility is a corporation’s initiative to monitor and ensure compliance with the law, ethical standards, and norms. It can also be defined as corporation’s actions that further social good and go beyond the interests of the firm in order to make the world a better place. Essentially a corporation should embrace the idea of corporate citizenship, the idea that businesses are socially responsible for meeting legal, as well as ethical and economic responsibilities placed on them by shareholders. Although this is an alluring concept, it is also a flawed one. It

In recent years, governments have implemented legislations that oblige companies to provide information on how they are being socially responsible. According to the UK Corporate Governance Code the board should set the company’s values and standards and ensure that its obligations to its shareholders and others are understood and met (Financial Reporting

CORPORATE SOCIAL RESPONSIBILITY By Lori S. Mohr-Corrigan, For The Paper Store - © October 1999 VISIT www.paperwriters.com/aftersale.htm -- for more information on using this paper properly! Because society is fundamentally based upon performance and profit, it is not unusual to find that it is necessary to impart a sense of corporate social responsibility with regard to contemporary commerce. The ethical approaches of purpose, principle and consequence are integral components of business social performance; itemizing these contributions finds one incorporating the interests of ethics and morality within the corporate structure, essential concepts that are often absent from a managerial standpoint. Chapters two and three of Beauchamp and

Company Q and Social Responsibility Social responsibility is a key attribute for businesses in the market today. When consumers look to spend their disposable income, they look for businesses that not only offer the right product, at the right price, but that also offer great service. Great service can include anything from friendly employees to community involvement. That is where social responsibility becomes apparent in a company’s ethics and values. If a company has a strong tie to the community and demonstrates social responsibility, their consumers will consider this a positive quality and it will separate them from the competition. In this case study with Company Q, they are

Every corporation or company is in the business of making a profit. The market is a huge contributing factor that drives corporations to either be socially responsible or not. If making a profit was not a factor, most people would want to be socially responsible because it’s the right thing to do. We will discuss the meaning of corporate social responsibility, how the environment affects the decisions of being socially responsible and my personal experiences.

Crane, A. and Matten, D. (2010) ‘Corporate social responsibility’, (3rd edition) Business Ethics. Oxford: Oxford university press, pp.51-60

The importance of corporate social responsibility to companies has been widely debated. Companies eager for maximizing the profit with limited cost. Facing the complexity economic environment and growing competition, as well as the short-term performance pressures from shareholders, companies have no idea but force to restructure the business, reduce the labor force and relocate the business to lower-cost regions. However, are they really helpful to maintain the competitive advantages and gain the sustainable profit? Michael Porter and Mark Kramer, in their January/ February 2011 Harvard Business Review article - Creating Shared Value (CSV) explains what a growing companies have come to recognize - companies can derive a

Many companies question whether positive acts of corporate social responsibility are beneficial to the organization’s profitability or simply cost the company money. Although practicing good corporate social responsibility can be expensive at times, the benefits and positive outcomes outweigh the costs spent. Among many other positive outcomes, acts of corporate social responsibility have the ability to increase investor relations, can benefit a company’s long-term image, and can lead to the development of new products. Thus, good corporate social responsibility is very good for business.

As businesses have evolved over time, there is no denying that consumers have grown to expect certain behaviors from the variety of companies that they have the option to endorse. A business can spend millions of dollars on advertising, researching, sampling and surveying customers all of which can be undone by a mistake that ruins their reputation. Corporate social responsibility is a term that has its origins in the 1950s. It refers to “situations where the firm goes beyond compliance and engages in actions that appear to further some social good, beyond the interests of the firm and that which is required by law” (McWilliams, Siegel & Wright, 2006, p. 1). It was in the 1990s that corporate social responsibility truly became a trend that led to the development of other terms such as ‘business ethics’ (Carroll 2008). In the twenty first century, especially in the North American and European communities, the concept of corporate social responsibility became so widespread, that nowadays, consumers expect business to care and show that they participate in CSR initiatives (Van Der Smissen 2012). Advertising CSR initiatives became an important tool in gaining consumer trust in the company.

Windsor, D. (2001). The future of corporate social responsibility. International Journal of Organizational Analysis, 9 (3): 225-256.

Long before H.R Bowen, in his book ‘Social Responsibilities of the Businessman’ propounded Corporate Social Responsibility as a desirable directive for prosperous companies; it has been long practised as a mode of charity and philanthropy as advocated by various religious and family values. The concept of CSR since then have been intricately connected with the values of good governance which aims to usher a socially inclusive positive society which focuses on addressing cultural impediments, social issues and environmental sustainability. As proposed by the United Nations Environment Programme, companies should be ethically responsible and should strive