Rangan, Chase And Karim: Article Analysis

Current approaches to CSR are fragmented and/or disconnected from business goals. Many firms still consider CSR as another generic public relations problem in which media campaigns and CSR reports are used to paint the company as a positive ethical, social and or environmental advocator and supporter. For example, the annual reports discuss a firm’s sensitivities to CSR issues, but completely lack the entire story and offer no further forward commitments from the firm. Further, the ratings and rankings measurements are self-appointed by the firm, not always accurate to validate the work and direct impact to what they are measuring, and the criteria base varies widely and weighed differently in the final scoring. Worst of all the data lacks impartial auditors for validating the data to ensure the ratings have been accurately met, and data is statistically significant and a good proxy for what it is supposed to reflect. This has resulted in reactive initiatives designed to appease vocal

In a contemporary world, a business-society relationship has evolved well beyond a simple business model to a much broader - socially responsible - corporate stewardship. As of this result, Corporate Social Responsibility (CSR) emerged as a concept that encourages companies to be ethical and responsible with the environment it operates in so as to wider impact on society. Though, CSR is now argued so widely as to have become a subject matter for serious arguments. Whereas business‘s human side stressed the importance of social responsibility, it also opened the room for criticism for its opponents, some of who have expressed legit business concerns; others endorse the belief that

Although there is substantial variation in the environment and the corporate approaches that reflected in the literature, interest in the field that shows the poised to stimulates the further research and to provide both researchers and CSR practitioner some valuable direction for reflection and action.

Through globalization the gap between the rich and poor has increased, while the rich get richer, the poor get poorer. This can be one of the many reasons why companies choose to be more social responsible as CSR aims to reduce conflicts between stakeholders. Although, individuals are aware that more companies are producing social responsible goods, companies can benefit from CSR practices in different ways. When companies decide to be socially and environmentally active, not only will the society and the environment benefit from the companies ethical practices, but they can also differentiate themselves in today's competitive market.

Organizations today recognize that it is not only important to engage in corporate social responsibility (CSR), but that it is also equally

Archie Carroll defines corporate social responsibility (CSR) as “the social responsibility of business encompassing the economic, legal, ethical, and discretionary expectations that society has of these organizations at a given point in time.” (Crane, 5) Interesting enough, there has been an abrupt growth of firm’s engagement in CSR within all industries. This is the result of growing requests from the civil society demanding firms, of all sizes, to legitimize their practices. (Crane, 4)

Microsoft, Walt Disney, Google, BMW, Daimler, Sony, Intel, Volkswagen, Apple and Nestle are probably big company names that many have heard of. They are without doubt the sole powerhouses of their individual markets holding a big market share for themselves. But, despite the fact that they have that common factor, another thing that they have in common is that these 10 companies are the top ten companies with the highest CSR reputation in the world (SOURCE). CSR the acronym for Corporate Social Responsibility is currently a new business model that many businesses are starting to adapt. Throughout time, things improve and so do peoples expectations; CSR is a new model that incorporates things that people are more concerned with nowadays compared to the past. By requiring companies to spend more of their money on social responsibilities, CSR provides an opportunity for the companies to benefit more than just themselves in many different ways, but the question still lies at the point of to what extent does CSR benefits the companies themselves (SOURCE). There have been a lacking measurement in the actual benefits of CSR and companies are doubting whether or not CSR actually benefits company performance. Despite that though, there must be a reason as to why these powerhouses are incorporating CSR as their main business model and that reason would most definitely be that CSR benefits company performance in so many ways, both externally and internally, that no other business model

The economic factors may remain the priorities in many of the business leaders’ minds, even if they claim to know the significance of CSR. Although nearly all the participant CEO in the UN Global Compact Study (2013) see CSR as the “key to success,” sarcasm appears when only 45% feel CSR is “very important to future success,” while around 67% choose “growth and employment” to be the top priorities to indicate future business success. The business leaders may believe in CSR and think it could bring to the greater good, but they saw lack of direct links between their companies’ value and their goodness. On the one side, conducting CSR initiatives or programs, which may include charitable giving,

Businesses have a responsibility to give back to the customers they serve and the communities they operate in. Today, many organizations have realized the importance of corporate social responsibility (CSR) in response to consumers and stakeholders becoming more mindful of social issues. Corporate social responsibility has continued to change and grow. It can be difficult to define CSR because it takes on a variety of social, economic, political and environmental formats depending on the business. Corporate social responsibility in the broadest sense is viewed as for-profit organizations becoming ‘good corporate citizens’ (Salton & Jones, 2015).

This research has primarily emphasized the importance of CSR to both individuals and the community at large, but one question remains underexplored: how do consumer perceptions of CSR line up with their concurrent expectations from the company? The literature shows little agreement; definitions are murky and left to individualized scholars, and evaluation of company’s efforts, as previously discussed, are difficult to present to major shareholders within a company, to say nothing of informing consumers.

The so-called “license to operate”, both in social and governmental aspects, became the underlying motivation of CSR programmes. Insofar the social and economic contexts are understood as constraints, corporate social programmes were initially conceived in defensive terms to solve specific problems. For Kramer and Porter, CSR approaches, to a large extent, are superficial and uncoordinated measures focused in protect the reputation of the firm and its public relations (2006: 81). However, recent development within CSR framework have incorporated a broader scope towards sustainability and corporate citizenship ideas, under which companies are conceived as part of a wider network of actors, with convergent interests around social, economic and environmental goals (See Elkinton, 2006; Matten et al., 2003; Van Marrewijk, 2003).

CSR is a voluntary commitment by businesses to implement particular codes of conduct, based on a belief that corporations have duties beyond their shareholders extending to stakeholders. I explore the extent to which the implementation of corporate

The concept of CSR (corporate social responsibility), has been around for many years, it has continued to grow in significance and importance. Moreover, there has been a public debate and commentary on the same subject. For instance, (International Journal of Corporate Social Responsibility) argues that CSR has had social-political influence i.e. the political regime, culture and legal systems of many countries around the globe. More companies around the globe in are engaging themselves in CSR activities, as a result, providing more information on social and environmental issues to the mass. According to (Burritt and Schaltegger, 2010; Gurvitish and Sidorova, 2012), in the past, research that considers both CSR reporting and activity has

Corporate Social Responsibility (CSR) has gained a reasonable reorganization in the world of business. Organizations are now voluntarily putting their money in the public cause’s way more than they are required or forced by the law and proud present their doing their annual reports

In a competitive business environment, corporate social responsibility (CSR) is fundamental for an organization (Minor and Morgan, 2011). The coverage of CSR keeps on redefining, evolving and improving. Nowadays, World Business Council For Sustainable Development (N.A.) defines CSR as ‘the integration of business operation and values whereby the interests of the stakeholders, including customers, employees, investors, community, and environment are reflected in the company’s policies and actions’. According to Archie Carroll (1991,cited in D’Amato, Henderson and Florence, 2009), there are four different types of CSR: philanthropic, economic, legal and environment (Taylor, 1984). In the essay, it proves that CSR is not a practice that only