Problems Of Corporate Social Responsibility

Nowadays, many international companies take sustainable development seriously. They understand that sustainable development can enhance their quality of life and their reputation in public. Sustainable development is "development that meets the needs of the present without compromising the ability of future generations to meet their own needs." (Brundtland, 1987) Sustainability requires monitoring and managing all the person to ensure that our economy and society can continue to exist without destroying the social and natural environment during development. The sustainability includes three pillars, which are economic, social and environment, forming a triple bottom line. The triple bottom line demands that a company 's responsibility lies

Corporate Social Responsibility (“CSR”) is often described as the measures taken by companies to manage environmental, social and economic impacts of their business activities. Since the globalisation of economic and labour markets, CSR has become an argumentative topic. For companies to be considered as good in terms of CSR, they are required to go above and beyond of their legal requirements and take into consideration what is in the best interests of its stakeholders.

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

Keeping in mind its leadership position that it continues to maintain particularly within the chemical and consumer product markets, the stand that GIL (Godrej Industries Ltd.) holds on the CSR initiative within India is assumedly expected to affect the trend for CSR initiatives not only among smaller companies in the same or related industries but also the CSR initiatives among SMEs that receive investments through the parent Godrej

Corporate Social Responsibility (CSR) – is a set of commitments, corresponding to the specificity and level of development of the company, whish is reviewed regularly and dynamically changing. CSR is voluntarily and agreed with the participation of key stakeholders, taken by the company’s management, with particular reference to the views of staff and shareholders. It is performed in mainly at the expense of the company and aimed at the realization of significant internal and external social programs, the results of which contribute to the development of the company (production growth, improving the quality of

Tata Steel Ltd, one of the biggest steel manufacturing companies in India conducts its day to day operations by being socially responsible towards the society and respects human dignity. It aims for the progress of the community people and creates long term values for all stakeholders by serving them globally. It will allocate at least 3 percent of its net profits before taxes of the preceding 3 years for the Corporate Social Responsibility Practices. The surplus generated by carrying out Corporate Social Responsibility Practices

The issue of corporate social responsibility has recently been the subject of much debate. These debates pose the question “What responsibilities, if any, do corporations have to society and the greater good?” From a legal standpoint the answer to that question is none. Legally, corporations have no responsibility to participate in any type of social responsibility, in fact, doing so is illegal and can lead to directors and corporate officers being sued by shareholders. Although the specific law varies from jurisdiction to jurisdiction, the general idea is always the same, corporations are only responsible for making the greatest profits for their shareholders. For example, In Maine, Section 716 of the business corporation act reads in part: ”The directors and officers of a corporation shall exercise their powers and discharge their duties with a view to the interests of the corporation and the shareholders.” (qtd. In The Humanist). The opposition to these viewpoints believe however that the action of corporate executives participating in social responsibility will in fact not only benefit the community and the general public, but in the long run, the corporation itself along with its shareholders. Many believe, as do I, that as a society we are more likely to engage in business with corporations who give back to its consumers and who concern themselves with the betterment of our society and the world as a whole, and in turn the result for these corporations is larger

With the development of economy and society, large corporations not only have responsible for make profit to their shareholders, but also taking environmentally responsible and undertaking corresponding social responsibilities as well as other stakeholders. This point of view could be involve in the corporate social responsibility (King and Lawley, 2013). Additionally, the definition of stakeholders are individuals or groups which affected by an organization and have an interest in its activities (Freeman, 1984). Moreover, Starik (1994) stated that those who potentially have impact on an organization may also is a stakeholder. However, according to Lynch (2006) argued that when a corporation involve many stakeholders, they

Corporate social responsibility spans across the globe, but different countries see and participate in CSR in different ways. Amerinda Forte, author of “Corporate Social Responsibility in the United States and Europe: How Important Is It? The Future of Corporate Social Responsibility,” an article published in 2013 in the International Business and Economics Research Journal, explains CSR using three traditional models: the shareholder value model where profits are the sole responsibilities of the business, the stakeholder model where the social responsibilities of the business reflect those of the stakeholders, and the business ethics model where businesses have social obligations and a moral duty to society as a business. The author

Corporate Social Responsibility (CSR) is a form of self regulation integrated into the business model of organizations. Organizations have responsibility for the impact of their activities on the society, environment, employees and members of the public sphere which cannot be denied. The progress of the concept of CSR is elevating to the highest pedestal of importance in all aspects of production and business both private and public.CSR is a much known concept in present world and many corporate giants are conversant with it as it provides better synergy returns to the business. Moreover CSR is becoming a very important activity to organizations nationally as well as internationally. The increase in globalization has given birth to large corporations which serve as global providers and have recognised the importance and benefits of providing CSR programs hence CSR activities are now being undertaken throughout the globe. The rationale for CSR is stated in number of ways its core is about building sustainable businesses with healthy communities, markets and economies which again necessitates carrying out CSR activities. The government has declared it compulsory for organizations to be socially responsible (chakraborty 2010).Non government organizations (NGO) are

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

It evaluates value creation in terms of environmental, social and economic performance. Hence, businesses have to succeed economically, as well as stressing concern for social justice and environmental quality. However, an issue with defining CSR is not only concerned with its miscellaneous attributes but also its heterogeneous body of research. Most research conducted is concerned with CSR from a perspective of theoretical articles and quantitative research. Defining CSR and quantifying its value through the use of statistics can be an ambiguous task, which thus; presents the opportunity to greater understand CSR through a qualitative approach.

For the past years, corporate social responsibility also referred, as corporate conscience has been a respected subject for discussion. Corporate social responsibility, unquestionably, contains more viewpoint than simply worried about the ecological impacts of associations. It came in people groups mind at the later 1880, time of essential modern advancement that associations ought to think about the thought of social obligation. Associations that are near to social obligation issues got to be worry about the principled ground of attaining to social commitment. Latter 1880 manifestation of the accountability for society has got soundness however after that period the association started to include in humanitarian force strongly (Adamsson and Johansson 2008). This study hopes to explore the corporate social responsibility and furthermore how and why affiliation its participate in corporate social responsibility. A number of multinational firms offering essentialness to the social and business substance that can give an organization a humane face and eventually it will bring notoriety and moment business advantage as individuals get to be unwavering to this. Thus, this is the reason organizations are taking CSR issue as an unquestionable requirement for getting an additional profit on present exceptionally aggressive world and along these lines happily keeping their buyer group protected from other rivalry.

The term social responsibility means different things to different people. Generally, corporate social responsibility is the obligation to take action that protects and improves the welfare of society as whole as well as organizational interests. According to the concept of corporate social responsibility, a manager must strive to achieve both organizational and societal goals.

Five practices define the leadership challenge and include modeling the way, inspiring a shared vision, challenging the process, enabling others to act, and encouraging the heart. Leaders have to act ethically by upholding the principles of corporate social responsibility. They must develop virtues such as honesty, openness, and accountability. Leadership has to share and inspire a vision by creating realistic and achievable goals. Building robust teams is critical to achieving goals. Challenging the process by devising new ways of doing things enables an organization to achieve its goals. The leadership also has a mandate of creating a favorable environment; to enable others to experiment with new ideas that foster creativity and innovation. Individuals and groups that demonstrate effort in promoting the core values of the organization should be recognized and appreciated to encourage them to keep up the dedication.