The Importance Of Social Responsibility

1. In order to implement an organizations commitment to social responsibility it is necessary to identify what social problem the organization intends to address, develop policies on what the organization plans to do to successfully fulfill its obligation and ensure stakeholder buy-in. The main obstacles an organization faces when implementing socially responsible policies is pressure from stockholders and business analysis who want steady increase in earnings. Without steady increase in profits, it becomes difficult to reinvest money in these areas. The following actions can be taken toward increased 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

Social responsibility in business can be defined as the obligation an organization has to minimize its negative social impact on stakeholders and to maximize its positive impact. In this case study we are introduced to a small local grocery chain referred to as Company Q. Located in a major metropolis, Company Q has recently closed some stores in areas of the city with higher crime-rates. They have started to stock a very limited amount of organic and health-conscience products after years of requests from their customers. Management has declined participating in a program to send expired food to a local food bank based on fears of employee theft by means of taking advantage of the situation. Based on the

Company Q is a small local grocery store chain that has a poor attitude toward social responsibility. After reviewing the given, I feel the chain is more committed to profit than social responsibility. Most companies are in a business to make a profit, however, the difference in what is considered reasonable and what is considered ridiculous comes into play. Most people start companies because it something they are interested in and to make a living. In today’s society the line between outright social responsibility

Company Q was approached about donating their day old food to the local shelters and they refused on basis of concern that employees

Keeping this definition in mind while evaluating Company Q’s attitude toward social responsibility, it is apparent they have developed a reputation for not caring about the community by closing stores in higher crime rate areas, only offering a limited supply of healthconscience and organic products, 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.

Company Q’s attitude towards social responsibility appears to be nonexistent, possibly through ignorance or disconcert. Either way the lack of social responsibility affects their business and community’s perception of their business. It appears that the company management has never developed and ethics program that clearly defines the corporate culture including provisions for social responsibility. Profits, or at least a lack of losses appears to be a primary motivating factor for company Q's management’s decisions. Company Q has been attempting to cut losses by closing stores that were losing money instead of finding innovative ways to

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

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 built on a system of ethics, in which decisions and actions must be ethically validated before proceeding. If the action or decision causes harm to society or the environment then it would be considered to be socially irresponsible. Being socially responsible means that people and organization must behave ethically and sensitivity towards, social, cultural, economic, and environmental issues. Striving for social responsibility helps individuals, organization and government to have a positive impact on development, business and society. Often, the ethical implication of decision/action are overlooked for personal gain and the benefits are usually material. This frequently manifest itself in companies that

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