Relationship Between Corporate And Corporate Social Responsibility

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.

In other words, these socially responsible companies will evaluate not only the short and long term economic outcomes of their present decisions but also the long-term environmental and societal outcomes of their current actions. This thus leads to the triple bottom line approach of reporting environmental, social, and economic performance. In addition, Wilson from the Ivey Business Journal argues about corporate social responsibility or the CSR. The CSR has been around longer than the term and implication of “sustainable development” but has similar guidelines. From about 1953 the on, the main debate was whether corporate managers had an ethical responsibility to consider the needs of society and by 1980, it was generally and consensually accepted that corporate managers should and did have this moral responsibility. So by incorporating sustainability plans or even creating a separate branch dedicated to doing so, the company’s reputation often is increased, which over the long term, will contribute to accentuate customer loyalty, market share, and brand value and awareness. (Wilson, 2003) This case study done on Johnson & Johnson published by the IMA Educational Case Journal analyzes the impact that implementations of these sustainability

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

Background to CSR - In this environment, the impact of behaviour, values and ethics on achieving a company's strategic vision represents a timely and valuable undertaking. This behaviour, often called Corporate Social Responsibility (CSR) is a new focus on ethical and social issues (Sen & Bhattacharya 2001). CSR leads marketers to the notion of both global and stakeholder responsibility, and an organizational system that begs for sustainability not just to outlast the competition, but to increase customer loyalty, presence in the global market, and a stronger unification with the political bureaucracies. There is a clear integrative framework involved that impacts the idea of sustainable marketing concepts (Maignan & Ferrell 2004). Indeed, at the same time, "culture" has changed, too; there is likely not a country in the

It is to a wide extent voluntarily engrained into the corporate strategy. Moreover, it covers the most important areas of CSR – environment and society. How the strategy is really implemented into practice will be discussed in the following parts. However, it shall be mentioned that the strategy “ONE” still makes the impression of a traditional growth orientated strategy. In the appendix three and four two additional figures regarding stakeholder vs. company goals and the CSR key areas can be

Corporate social responsibility (CSR) is a firm’s decision to accept responsibility for its social, environmental and ethical actions. A firm’s decisions whether to adopt and rank importance to CSR should be due to a variety of reasons, like the financial stability of the company aswell as the culture of the organisation. But one definitive factor would be a firm’s corporate objectives, corporate objectives are a quantifiable statement of a business’s goals which should include measurable targets. Essay will look to examine the relative importance of CSR in relation to other corporate objectives.

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

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

With the spread of social marketing and CSR in the world, organizations tend to not only consider the consumers’ demands and the companies’ profit, but also take the consumers’ and societies’ long-term benefit into account. Hildebrand,D,et,al (2011) demonstrated that the CSR activities can make up the central, special and core characteristics of the company identity, the identification of the corporate can also be aroused due to CSR activities. Moreover, Porter and Kramer (2006) highlighted that CSR can aid companies create the ability to achieve corporate resource so as to build a sustainable and defensible competitive position. So the companies should consciously undertake corporate social responsibility.

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

The recent fifteen years saw a dramatic increase of the corporate social responsibility (CSR) report. There were more than 3300 CSR reports in 2008 while the number of 2002 was less than 100. More and more companies especially some multinational corporations among the world are keen to proving the sustainability, in order to improve their corporate image and credibility (Adams, 2002). This essay will explain why there are an increasing number of companies are willing to make CSR report annually, and discuss whether reporting on social and environmental activities is equal to good social and environmental performance in reality.

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 can be used to depict the approach that an organisation approaches the financial, environmental and social impacts of its strategic business life cycle. The issue of CSR has become

The (Commission, 2015) defines CSR as “companies taking responsibility for their impact on society”. It adds that CSR should be initiated by companies, with public authorities playing a supporting role through policy and regulation. Companies the commission would consider as socially responsible would have to comply with the law, integrate social, environmental, ethical, consumer and human rights concerns into their business and strategy operations. This recent definition of CSR covers most if not all of the angles of the different definitions and models of CSR put forth by writers in the CSR space. However as written by many authors, this is a dynamic field that continues to evolve (Carroll and Shabana, 2010, Geva, 2008, Carroll, 1999, Lee, 2008, Pirnea et al., 2011, Waddock, 2008). According to (Spector, 2008) its roots can be traced to the pre- World War II era (early years of the cold war), but for the sake of this paper we shall not go that far back. We

“Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company 's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Furthermore, CSR-focused businesses would proactively promote the