Corporate Social Responsibility - 15903 Words

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit. A company’s stakeholders are all those who are influenced by and can influence a company’s decisions and action, both locally and globally. Business stakeholders include(but are not limited to) employees, suppliers, customer, community organizations, subsidiaries and affiliates, joint venture partners, local neighborhoods, investors, shareholders(or a sole owner in case it is sole†¦show more content†¦Some would argue that the only reason to take on social projects is for utilitarian reasons, such as currying favor with the public or with government, or to improve market standing. Others, such as the philosopher Michael E. Berumen, suggest that a business is property belonging to the owners, not stakeholders, and that a business is not equivalent to a mini-state for the purpose of creating social justice or carrying out social planning, and that the owners have the right to dispose of their property as they see fit within the limits of morality, including for p rofit, social good, or both. Proponents of CSR would suggest a number of reasons why self interested corporations, seeking to solely to maximize profits are unable to advance the interests of society as a whole: †¢ Corporations care little for the welfare of the workers, and given the opportunity will move production to sweatshops in less well regulated countries. †¢ Unchecked, companies will squander scarce resources. †¢ Companies do not pay the full costs of their impact. For example the costs of cleaning pollution often fall on society in general. As a result profits of corporations are enhanced at the expense of social or ecological welfare. †¢ Regulation is the best way to ensure that companiesShow MoreRelatedCorporate Social Responsibility : Corporate Responsibility773 Words   |  4 PagesCorporate social responsibility may also be referred to as corporate citizenship and can involve spending finances that do not directly benefit the company but rather advocate positive social and environmental change. The soul in the next economy forum presentation made it evident that achieving corporate social responsibly in a company can reap major benefits in terms of finances, more inspiring workplace and customer satisfaction. In the past, companies mistakenly thought that corporate socialRead MoreCorporate Social Responsibility1990 Words   |  8 PagesCorporate social responsibility is becoming a key initiative and an essential tool in the growth of multinational corporations and the development of third world countries throughout the globe. The two concepts can work hand in hand to provide benefits for all; however difficulties in regulating and implementing corporate social responsibility need to be overcome before effective changes can be made. Definitions of corporate social responsibility can be somewhat varied depending on the perceptionRead MoreCorporate Social Responsibility1904 Words   |  8 PagesCorporate Social Responsibility The different aspects of corporate social responsibility (CSR) have been the topic of considerable debate since the last decades of the twentieth century. Main factor for the increased interest on the part of stakeholders in this topic are the increased public awareness and interest in the corporate social responsibility following the Information Revolution. This essay will assess the dangers and benefits of the business ethics for most of the stakeholders – employeesRead MoreCorporate Social Responsibility : Corporate Responsibility2819 Words   |  12 PagesIntroduction For the past years, corporate social responsibility also referred, as corporate conscience has been a respected subject for discussion. Corporate social responsibility, unquestionably, contains more viewpoint than simply worried about the ecological impacts of associations. It came in people groups mind at the later 1880, time of essential modern advancement that associations ought to think about the thought of social obligation. Associations that are near to social obligation issues got toRead MoreCorporate Social Responsibilities2100 Words   |  9 PagesSustainability requires monitoring and managing all the person to ensure that our economy and society can continue to exist without destroying the social and natural environment during development. The sustainability includes three pillars, which are economic, social and environment, forming a triple bottom line. The triple bottom line demands that a company s responsibility lies with stakeholder rather than shareholder. The stake holder is a party who can be affected or affect by the action of the company suchRead MoreCorporate Social Responsibility3253 Words   |  14 PagesLiving Dangerously in Two Worlds In my paper I will be discussing the topics related to corporate social responsibility. Corporate social responsibility (CSR, also called corporate responsibility, corporate citizenship, and responsible business) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligationRead MoreCorporate Social Responsibility : Corporate Responsibility2819 Words   |  12 PagesIntroduction For the past years, corporate social responsibility also referred, as corporate conscience has been a respected subject for discussion. Corporate social responsibility, unquestionably, contains more viewpoint than simply worried about the ecological impacts of associations. It came in people groups mind at the later 1880, time of essential modern advancement that associations ought to think about the thought of social obligation. Associations that are near to social obligation issues got toRead MoreCorporate Social Responsibility : Corporate Responsibility2818 Words   |  12 PagesFor the past years, corporate social responsibility also referred, as corporate conscience has been a respected subject for discussion. Corporate social responsibility, unquestionably, contains more viewpoint than simply worried about the ecological impacts of associations. It came in people groups mind at the later 1880, time of essential modern advancement that associations ought to think about the thou ght of social obligation. Associations that are near to social obligation issues got to be worryRead MoreCorporate Responsibility And Corporate Social Responsibility Essay1867 Words   |  8 PagesStevan Jakovljevic Professor Laud MGT 3550 Values, Ethics and Sustainability 10/18/16 Chapter 3: Define corporate responsibility (CSR). Describe the benefits. Why do some executives support CSR while others find it troublesome and argue against it? Corporate social responsibility is what a company uses to self-regulate itself and refers to business practices involving initiatives that benefit society. A business’s CSR can encompass a wide variety of tactics, from giving away a portion of a company’sRead MoreCorporate Social Responsibility And Corporate Ethics1468 Words   |  6 Pagesfact that your business exists in the environment, the responsibility of this depends on many stakeholders, such as local communities, customers, employees and suppliers. On the other hand the way the products are produced and manufactured has a significant impact on the environment. In this context the concept of corporate social responsibility has great relevance for the survival of any business. In corporate terms, social responsibilities promote companies to maintain a closer relationship with