The Importance Of Social Responsibility

Social responsibility makes a company more competitive and reduces the risk of sudden damage to the company’s reputation and sales.

Social responsibility is generally regarded as a duty of an organization’s management towards the benefit and well-being of the society in which it is engaged. The organization must behave ethically considering the social, cultural, economic and environmental issues.

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

Firstly, I would like to explain what Corporate Social Responsibility is. “It is a company’s sense of responsibility towards the community and environment (both ecological and

Many believe that business entities should have an ethical duty to be socially responsible, to work towards increasing its positive effects on society while decreasing its negative effects. Many organizations look for opportunities to be socially responsible while also creating shareholder wealth.

When an organization partakes in “proactive behavior…for the benefit of society,” it is deemed as socially responsible (P. 155). However, prior to labeling a organization as socially responsible, it is important that we first identify what specific elements of proactive behavior constitute a socially responsible business. To begin, for an organization to be considered socially responsible on the highest level, it must take a proactive approach to doing business. This is defined as “[taking a] approach to social responsibility in which an organization goes beyond industry norms to solve and prevent problems” (P.155). In addition, it is standard for a socially responsible organization to incorporate a larger scope of stakeholders, to include external stakeholders, in their business decisions to create positive externalities, and mitigate negative ones, to benefit society as a whole.

The expectation that businesses behave responsibly and positively contribute to society all while pursuing their economic goals is one that holds firm through all generations. Stakeholders, both market and nonmarket, expect businesses to be socially responsible. Many companies have responded to this by including this growing expectation as part of their overall business operations. There are companies in existence today whose sole purpose is to socially benefit society alongside businesses who simply combine social benefits with their economic goals as their company mission. These changes in societal expectations and thus company purpose we’ve seen in the business community over time often blurs the line of what it means to be socially

Every company has a responsibility to support the society it serves. This indicates that a company that wishes to truly thrive in a market should not just follow the business and consumer laws of the country but take an active interest in the community that it serves in each country. Today’s global market is led by companies that concern themselves with the sustainability of the company and its products, as well as the continual improvement of the

We make a living by what we get, but we make a life by what we give.” A quote from Winston Churchill that reflects social responsibility. Social responsibility requires you to put your best foot forward due to legal responsibility. It includes the idea that its superior to be driven by a problem rather than reactive. This includes eliminating anything that causes corruption, unethical and delinquent behavior that may bring a negative impact on the supporters around the environment or the community alone before any type of behavior takes place.

A lot of businesses find that a very efficient way to keep their customers is by acting in a socially responsible way.. A company can be socially responsible in a variety of ways such as using resources that won’t hurt the environment or the consumers, and giving a portion of their proceeds to a foundation. An example of a socially responsible company is Burt’s Bees. Burt’s Bees has gone above and beyond to promote socially responsibility not only by providing natural products and assuring customers that no harm was done to the animals involved but by sponsoring and donating to foundations that have the same want for world-wide well being.

Corporate Social Responsibility are actions taken by a corporation that have positive and lasting impact for all stakeholders associated with the organization, seeking to strike a balance between profits and helping to establish lasting investment in the community (Carrol, 2015). In the 1980’s, then President Reagan challenged the business community to take on more responsibility to address social problems (Carrol, 2015). Socially responsible actions can benefit local communities as well as the greater societal good.

Social responsibility is a construct of appropriate ethical behaviors, where two or more individuals, and corporations strive to provide better outcomes for the benefit of society as a whole. With such a set of meticulous structured frameworks in mind, it is fundamental to achieve a harmonious balance between the ecosystem and the developing economy. However, social responsibility is not always first and foremost on the mind of big name corporate companies – such as General Mills Inc.

Some firms practice this corporate social responsibility primarily for the obvious humanitarian reasons; many are engaged in it because it has become a growing area of public interest and scrutiny. Younger job seekers and many investors look for this in a company-this was not the case even 10 years ago. While being responsible may not get a company much yet not being on board with responsible practices could hurt them in today’s age of information-it's good PR and can help create a differentiator from competitors. For example, Kellogg’s has a policy about not creating advertising to appeal to young children. if their competitors do not adopt similar policies they could be hurt. As this issue grows in importance, being proactive will become

A corporation that says it is socially responsible, claims that they are concerned for society's welfare; which also includes the environment, because now days, we are a lot more concerned about our environment and how everything affect it. The corporation will make sure to insure those values within the company and also to its partners. ("Social responsibility in Marketing," 2012 - 1998) Also, if a corporation says it is ethically responsible and it really is, it shows to their customers and partners their integrity

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue