The Importance 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 used to describe a company’s efforts to improve society in a certain way. These efforts range from donating money to an organization such as a nonprofit organization, to implementing environmentally friendly policies in the workplace. This idea is not required for companies; instead it is something that companies do to improve their communities. The way companies practice CSR is different from company to company, and some companies may not even practice it at all.

Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades, however, it has become of increasing concern to the business world. This has resulted in growing interaction between governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. “Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions” (Anderson 15). This paper will discuss the concept of corporate social responsibility. It will give the definition of the phrase, and identify some of the global factors that necessitate corporate social responsibility. It will discuss the importance of corporations setting up corporate social responsibility projects, and the impact these have on society. Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all business.

CSR is the obligations of the business to pursue those policies, to make those decisions, or to follow those lines of action which are desirable in terms of the objectives and values of our society. According to (Carroll and Shabana, 2010), CSR has also become one of the most orthodox and widely accepted concepts in the business world during recent years. According to (Sweeney and Coughlan 2008) and (Maignan and Ralston 2002; Wanderley et al. 2008), Organizations increasingly use CSR activities to position their corporate brand in the eyes of consumers and other stakeholders, such as through their annual reporting . communicating about social activities does not always benefit the communicating organization, notably because CSR communication may trigger stakeholders' scepticism and cynicism (Mohr et al. 2001; Schlegelmilch and Pollach 2005).Many organizations engage in CSR because they believe that it is in the organization’s best

There is a change in the expectation of employees, customers and shareholders which makes CSR more favorable in doing business today. It is a more sustainable way of doing business and those organization which are more involved in corporate social responsibility will most likely reap the rewards in the longrun.In today’s fast speed and digital world, each business despite its size need to have CSR program in place. Those without CSR programs must implement it as fast as possible otherwise they will lose valuable stakeholders in the long run.

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

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.

Social corporate responsibility is the fashion of business world for the recent decade. Increasingly companies are getting involved with CSR and try to regulate themselves to the ethical standards and care

Recently, the expectations of society for companies have increased more than before (Craig, Bhattacharya, Vogel and Levine, 2010), so one significant issue that most firms have been actively involved in is Corporate Social Responsibility (CSR). Some may debate that it decreases company’s profits by spending much money on CSR. However, according to Needle (2004), ‘good’ CSR is also good for business, a firm could benefit from doing CSR. Thus, this paper aims to explain its importance. It begins with the definition of CSR and its four responsibilities, then presents how it influences a business and benefits it can bring. Finally, I am going to describe strategic CSR and discuss why firms have social responsibility.

The aim of this paper is to highlight the impact that Corporate Social Responsibility (CSR) has on company performance and profitability. It will also assess the role of CSR in business activities and in general the theoretical foundations as well as Corporate Citizenship. Furthermore this paper will assess the notion that implementing CSR activities positively affects the image of the organization and can thus boost consumers’ attention and commitment to the organization, which leads to better financial performance for the firm.

While corporate social responsibility (CSR) has existed for a long time, it has garnered attention only in the last two decades as an important aspect of doing business. Academic research on CSR has evolved over the years, indicating a change in how CSR is viewed as time goes by. In the earlier years of

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

Man is a social animal so he cannot live alone. Society does its best to provide the individual with all the comforts amenities and facilities of life. So it is duty to do service for others. Nowadays more and more organizations are engaging in positive way often referred to as corporate social responsibility. It is important to doing a social service all organizations. CSR aims to embrace responsibility for to reassure a positive effect on the environment and stakeholders containing consumers, employees, investors, communities and others. Firstly how company practices in CSR, how company impact on Society, what activities does CSR.