Top 10 Powerhouses Organizations of their Individual Markets

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

Based on my interpretation of CSR, I see it as a voluntary obligation that companies have promised to their stakeholders to fulfill by improving, or at least not harm, the environmental and social wellbeing. When companies engage in CSR, they voluntarily promise to, for example, carry the responsibility to protect the environment and take actions against bribe or other corruptive activities related to their business. It certainly has some positive influences to specific areas based on my knowledge gained from other classes; nevertheless, when judge CSR in the context of total impacts on our society and environment, it is obvious that CSR has failed its mission to lessen the negative impacts of business based on the evidences that provided by the author. Also, since there is a strong positive relationship between CSR behaviors and consumers’ reactions to a firm’s products and services, it seems to me, now, that CSR for the most companies is just a fancy cover that helps them to create or promote a good image and reputation. The recent case that shows the failure of CSR of Volkswagen even make me believe that CSR programs may be just a marketing or public relation exercise for many

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.

Current approaches to CSR are fragmented and/or disconnected from business goals. Many firms still consider CSR as another generic public relations problem in which media campaigns and CSR reports are used to paint the company as a positive ethical, social and or environmental advocator and supporter. For example, the annual reports discuss a firm’s sensitivities to CSR issues, but completely lack the entire story and offer no further forward commitments from the firm. Further, the ratings and rankings measurements are self-appointed by the firm, not always accurate to validate the work and direct impact to what they are measuring, and the criteria base varies widely and weighed differently in the final scoring. Worst of all the data lacks impartial auditors for validating the data to ensure the ratings have been accurately met, and data is statistically significant and a good proxy for what it is supposed to reflect. This has resulted in reactive initiatives designed to appease vocal

There is currently a robust and ongoing debate about whether a companies, especially a publicly traded companies, only goal should be profit. Making money for the shareholders used to be what business was about. Now, more and more people are starting to believe that companies should pay more attention to social and environmental concerns that effect not just the shareholders, but the stakeholders and even society as a whole. The practice of Corporate Social Responsibility, or CSR, believes that everything cannot be left up to the market. The market exists to make profits at all costs. So, there needs to be a mechanism in place where social causes and the environment are taken care

Corporate Social Responsibility (CSR) and its extent has always been a practice usually dictated by the owner or the major stakeholders but in today’s world of infinite connectivity and social media, reputation can make or break a corporation.

Gains from CSR would vary in nature and scale for organizations depending on the activities undertaken and the nature of their respective business and are difficult to quantify .Academicians have come up with various theories like ,Deming's Fourteen Points, Schmidt, and Rynes Journal etc to measure CSR impact. However, ideally a businesses should not be looking at short-run financial gains when developing their CSR strategy, they should at least have a five years time frame while formulating their strategy .The decision of CSR within a company is likely to be based on one of the arguments mentioned ; Triple Bottom Line : like marketing four P’s , CSR has its own set of P’s comprising of People , Planet & Profit . This theory states that people,

Making the most of CSR activities will benefit the companies to enhance the brand image, increase the sales amount and impress their employees. Although there are numerous competitors in the market, a steadfast commitment will lead the company to stand out; thus, over time, the performance will add up to a powerful and winning business.

In the today’s business world, there are many strategies being used to run businesses. In the recent past, the topic of Corporate Social Responsibility (CSR) has grown rapidly.

Despite the influence of omitted factors, CSR neither benefit nor harm company’s performance. For those cases reported positive relationship above, they are very likely to be the result of a good marketing strategy and aggressive advertisement (for restaurant and airlines), successful management (for employees’ willingness to work in a responsible company), an efficient R&D and politic strategies (for DuPont’s case), etc. However, research reaching a negative relationship can also be blamed to other stuffs related to CSR, rather than CSR itself. For example, the agency problem appears when there’s a conflict between company’s goal and the agent’s personal goal, not only in CSR; and the profit issue is just a matter of choice. Thus, while measuring CSR’s influence on company’s performance, we should first “identify or select the dimensions of corporate social responsibility” (Ruf, 1998, as cited in Foote, Gaffney, &Evans, 2010). Nothing can we truly measure before a clear identification. After a clear identification, we will be able to figure out whether it is the impact brought by CSR, and therefore eliminate the interference from R&D, advertising, or political efforts, etc.

Corporate social responsibility (CSR) has become more influential when making company’s decisions. 53% of the S&P, an index based on market capitalizations of 500 U.S. companies, has published CSR reports in 2012 as compared to 19% in 2011. An approach, suggested by Business for Social Responsibility, considers CSR as attaining commercial success through respecting people, community and the natural environment. McWilliams & Siegel (2011) added that CSR are actions that far beyond the company’s interests and the minimum requirement by the law.

CSR has become a large part of a businesses brand image, in the 1950s the primary focus was on businesses ' responsibilities to society and doing good deeds for society. In the 1980s, business and social interest’s became closer and firms became more responsive to their stakeholders. During the 1990s the idea of CSR became almost universally approved, finally in the 2000s, CSR became an important business strategic issue (Rosamaria et al. 2011).

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 (CSR) has been a much talked about topic and the importance of CSR has been increasing over the years. Companies that embrace CSR hold themselves responsible for their activities and strive to make a positive impact on the environment and the society.

CSR can improve the company’s reputation and branding and this in turn improves the prospects for the company to be more effective to attract new customers and increase market share.