The Concept Of Corporate Social Responsibility

Businesses, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social

Every organized company worldwide should have among its structure, one planning and coordination division in which social and business goals are integrated. Corporate social responsibility (CSR) programs are necessary for commercial business as an element of risk management and represent an outstanding mechanism for the stakeholders to identify weaknesses when their own actions or others conduct in its operating environment generate social risk. (Kytle and Ruggie 2005).

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.

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

Defining corporate social responsibility or CSR can be as simple as a business that practices benefiting society (Caramela, 2016). Good CSR is one that is constructive to the entire business practices with the community. Sony is a Japanese based electronic store that has ventured to other countries worldwide. They create the newest and latest technology to compete with other competitors and to satisfy their consumer’s curiosity. The company’s mission statement declares, “To be a company that inspires and fulfills your curiosity” (Sony, 2017). With this said, Sony has a variety of interactions with the community as a whole. At Sony, they have an entire website devoted to keeping up with their good CSR practices with the

“Corporate Social Responsibility (CSR)” is defined as “the commitment of business to contribute to sustainable economic development, working with employees, their

Social responsibility is the accountability of companies for the contacts of its results along with actions on civilization and the surroundings, through crystal clear and ethical performance with the purpose of gives to continue progress together with the strength and the benefit of people. The truth so as to the expressions itself has tainted above this point also recommends that the significance qualified to perception for example, corporate social responsibility will maintain to progress in change with business supporting and common improvements. The conception of corporate social responsibility means that every organization have their own responsibilities as well as ethical and moral responsibilities in another sources of earning

The concepts of corporate social responsibility (CSR) have been evolving for decades. At the very beginning, it was argued that corporation’s sole responsibility was to provide maximum financial returns to shareholders. However, it became quickly apparent to everyone that this pursuit of financial gain had to take place within the boundary of the legal system (Carroll, 1979;1991). Bowen’s 1953 publication of ‘Social Responsibility of Businessman’ was considered by many scholar to be the first definitive book, to explain the idea behind CSR. Following Bowen’s book, a number of works played a vital role in developing the social responsibility concept (Cheit, 1964; David & Blomstrom, 1966; Carroll, 1979;1991).

CSR is majorly working in a sustainable proximity of optimal utilization of resources furthermore progressing towards societal development and the protection of environment. CSR has become an indispensable part of growth for companies all over the world. It aims to incorporate a self-regulatory mechanism wherein a business monitors and ensures its assent with the spirit of law, ethics and international norms. However for many organizations today corporate social responsibility is much more than just following the above mentioned practices, they believe in growing with the people and have set standards and goals in order to realise their notions of societal development. CSR helps an organization in many ways by building good reputation in the market; encourage a positive impact on the stakeholders both internal and external and also proves to be an aid to recruitment and retention particularly with such competitive world market.

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

　　Corporate Social Responsibility (CSR) is defined as the corporate initiatives taken by the company which take responsibility to its stakeholders (Tricker, 2012). Over the years, most of the public listed companies are moving away from shareholders-oriented to stakeholders-oriented. This might be because they realised that it was no longer enough to focus on financial performance alone to enhance business sustainability and credibility. The companies with stakeholder perception believe that the CSR practices has a positive impact on their Corporate Financial Performance (CFP) and reputation.

The classic origin of the concept of corporate social responsibility (CSR) came from the principle that the purpose of the corporation is to make profits for the stockholders. This view of Milton Friedman came to be referred to later as the classical theory of CSR (Bowie, 1991). Tom Donaldson argued that this theory derived from the concept of the social contract between the corporation and the society where it operates. This perspective, however, faced criticism over its inherently opportunistic and exploitative viewpoint. A corporate vision aimed only at upholding the shareholder’s right to profit for their investment logically will have to qualm of exploiting stakeholders to serve the end game of profit. It will have no qualms at paying

W. Visser claimed [2] that, CSR is ' ' the formal and informal ways in which business makes a contribution to improving the governance, social, ethical, labour and environmental conditions of the developing countries in which they operate, while remaining sensitive to prevailing religious, historical and cultural contexts . ’ '

Abstract:Corporate Social Responsibility (hereafter CSR) is essence in nowadays business since the business is facing new

The purpose of this report is to highlight the implementation of corporate social responsibility (CSR) in the company .CSR is the continuing commitment by business to contribute to economic development while improving the quality of life of the worker force and their families as well as of the community and society at the large .According to Nielsen’s Global Survey on corporate social responsibility(2014),shows that 55% of global online customers in 60 countries said that they can spend