Essay about The Meaning of Coroporate Social Responsibility

626 Words 3 Pages
Corporate social responsibility in can have a major impact on a business’ value. Polices are put in place in some corporations around the world, less-developed countries do not always have that leisure. I am going to be breaking down what CSR is, how CSR is in less-developed countries, how CSR is in developed countries.
What is CSR?
With all the resources that corporations have, they need to be socially conscious and make investments in their communities that they are stationed in. This is called corporate social responsibility, or corporation will abide by labor laws, be environmentally friendly, and are upholding human rights laws. CSR is defined in many ways for example philanthropy, or "going green." CSR can be in a sense a way to smooth over bad press or being in hot water with the community. According to James Epstein-Reeves of Forbes.com there are many uses of CSR such as being innovative, saving on cost, brand differentiation, long-term thinking, customer engagement and employee engagement. By doing something as simple as lowering the energy consumption businesses can save money and help the environment.
Less-developed countries CSR
To begin talking about less-developed countries I would have to define what under-developed countries are. A less-developed country is a nation with a low standard of living, less income per capita and an underdeveloped industrial base. in a 2004 survey, Asian companies had less of a commitment to employee development and vocational…