Corporate Social Responsibility Of A Socially Responsible...

Being involved in a socially responsible initiative is genuinely a win-win situation for all parties involved. Not only will the company be attractive to consumers and employees, but the company can also make a real difference in the world. Corporate social responsibility (CSR) is the pledge a business makes where it promises to behave ethically and contribute to economic development while improving the quality of life of workforce and their family as well as the local community (Pride, Hughes, Kapoor 42). This practice helps to form or improve the positive image of the company. Businesses that follow the socially responsible model consider the impact of the company’s actions on society. This also includes promoting and supporting local, national and global causes, which is a part of CSR called corporate philanthropy, where businesses donate some of their profits or resources to charities (Taylor). Companies that show social responsibility this way must be devoted to doing so on a regular basis, because if don’t follow through with it, your organization may be viewed by the public as dishonest. Many critics of CSR believe that this model reduces the main goal of business, restricts the free market goal of maximizing profit, and also limits the ability to compete in a global marketplace (Pride, Hughes, Kapoor 47). Though critics may believe they are right, CSR gives companies a chance to address social issues caused by business’ and other factors and allows them to be a partShow MoreRelatedCorporate Accountability : Corporate Responsibility Essay1306 Words   |  6 PagesIntroduction In April 2015, Corporate Responsibility Magazine released their annual list of the most socially responsible companies in the United States. The top ten companies included Microsoft, Hasbro, Johnson Johnson, Xerox Corp, Bristol-Myers Squibb, Intel Corp, and the Campbell Soup Company (Corporate Responsibility Magazine, 2015). Corporate accountability was measured in seven categories: financial, employee relations, governance, human rights, environmental, climate change, and philanthropyRead MoreCorporate Social Responsibility For Employees1473 Words   |  6 Pagesgenerations. The Corporate Social Responsibilities (CSR) are in a sense the contribution of companies to respect the stakes of the sustainable development. The Corporate Social Responsibilities of companies base on social, environmental and economic concerns. This match the â€Å"triple bottom line† theory: â€Å"People, Planet, Profit†. Over the years, Corporate Social Responsibility expended and became very important in the Business organisation and a large number of companies take part in CSR initiatives. In 2004Read MoreThe Social Responsibility Of Corporations Essay806 Words   |  4 Pagesimportance of social responsibility within corporations. This paper also explores â€Å"The Social Responsibility of Business is to Increase its Profits† by Milton Friedman and his stance on social responsibility. Friedman believed that corporations should not waste money on new initiatives if it was just to appease the public, especially if it went above what laws required. Examples are shown how corporations must listen to the customer or it could hurt the profitability of the corporation, with social mediaRead MoreNestle Infant Formula Controversy1628 Words   |  7 PagesWhat are the responsibilities of companies in this or similar situations? Domestic companies and multinational companies have responsibilities that portray their corporate and social stance as an organization. Many of these responsibilities are indicated in the vision or mission statement. Ethical and socially responsible conduct should be the cornerstone of any organization’s core values and strategic management process (Godiwalla amp; Damanpour, 2006). For an MNC, ethical and social responsibilityRead MoreTimberland Management : Timberland Company1693 Words   |  7 Pages1. According to our textbook (Lawrence Weber, 2014) the definition of corporate power is â€Å"The capability of corporations to influence government, the economy, and society, based on their organizational resources† (p. 53). After reading the discussion case I would characterize Timberland as exercising their corporate power in a very sensible and impacting manner. When it comes to making a difference in society Timberland has made it their mission since day 1. In 1 918 Nathan Swartz entered theRead MoreCorporate Social Responsibility : Csr1232 Words   |  5 PagesCorporate social responsibility has become a buzzword within the industry in the last few years. Following the financial market crash investors and stakeholders began looking at corporations to act more socially responsible. The meaning of social responsibility differs across regions. Western countries are the ones who are pushing for corporate social responsibility -thesis-- A broad overview at corporate social responsibility (CSR) looks to corporations to make a change in the society or the environmentRead MoreThe Issue Of Corporate Social Responsibility Essay1319 Words   |  6 Pages The issue of corporate social responsibility has recently been the subject of much debate. These debates pose the question â€Å"What responsibilities, if any, do corporations have to society and the greater good?† From a legal standpoint the answer to that question is none. Legally, corporations have no responsibility to participate in any type of social responsibility, in fact, doing so is illegal and can lead to directors and corporate officers being sued by shareholders. Although the specific lawRead MoreArguments for and Against Corporate Social Responsibility1004 Words   |  5 PagesWhat is corporate social responsibility? Give arguments for and against social responsibility? Ans. Social Responsibility Social responsibility can be defined as: â€Å"A business’s obligation to follow goals that are good for both organization and society in the long-term, and are not required by law.† Corporate Social Responsibility The term corporate social responsibility came in to common use in the early 1970s. It means the duty of an organization towards society in order to prove itselfRead MoreAn Evaluation Of Corporate Social Responsibility Essay775 Words   |  4 PagesVerizon: An Evaluation of Corporate Social Responsibility The environmental aspect of Corporate Social Responsibility refers to operating a business in a way that promotes responsibility and accountability for the environment. There are three main initiatives implemented by Verizon to meet their corporate environmental obligations. These initiatives are: recycling, reducing energy consumption and obtaining â€Å"clean† (conflict free) resources. Verizon’s commitment to recycling: For instance, VerizonRead MoreCorporations Measured Success By Financial Means Essay1523 Words   |  7 Pagesundermines the global impact companies can have on society. With the evolution of business into a global market, society requires corporations to emphasize social welfare beyond simple philanthropic contributions. A new initiative called Corporate Social Responsibility blends philanthropy, social initiatives, corporate responsibility, and corporate policy for the overall benefits to various facets of society, including but not limited to investors, employees, and local communities. The traditional