Concept Of Corporate Social Responsibility - 1723 Words

Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades, however, it has become of increasing concern to the business world. This has resulted in growing interaction between governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. â€Å"Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions† (Anderson 15). This paper will discuss the concept of corporate social responsibility. It will give the definition of the phrase, and identify some of the global factors that necessitate corporate social responsibility. It will discuss the importance of corporations setting up corporate social responsibility projects, and the impact these have on society. Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all business. Corporate social responsibility is no longer defined by how much money a company contributes to charity, but by its overall involvement in activities that improve the quality of people’s lives. Corporate Responsibility has come up as a significant subject matter in the international business community and is progressively becoming a mainstream activity. There is mounting recognition of the momentous effect the activities of the private sector have on the workforce, clientele, the society, the environment,Show MoreRelatedConcept Of Corporate Social Responsibility839 Words   |  4 Pagesand concept of corporate social responsibility (CSR) has been a much deliberated and controversial one. So aged has been this deliberation that Votaw and Sethi (1973) depicted it as a brilliant term; which rightfully means something, but not always the same thing to everybody. The research of Marrewijk (2013, p.95) elaborated on the intensity of this unending debate among academics, consultants and corporate executives which results in creating, supporting and criticizing of different concepts. IRead MoreThe Concept Of Corporate Social Responsibility Essay1696 Words   |  7 PagesThe Concept of Corporate Social Responsibility According to Pearce Robinson (2014), corporate social responsibility (CSR) is â€Å"the idea that business has a duty to serve society in general as well as the financial interests of stockholders.†(P.56) The concept of corporate social responsibility of the business operation must comply with sustainable development idea; the company should not only consider its own financial and operating conditions, but also think of its impacts on the social and environmentRead MoreThe Concepts Of Corporate Social Responsibility1456 Words   |  6 PagesThe concepts of corporate social responsibility (CSR) have been evolving for decades. At the very beginning, it was argued that corporation’s sole responsibility was to provide maximum financial returns to shareholders. However, it became quickly apparent to everyone that this pursuit of financial gain had to take place within the boundary of the legal system (Carroll, 1979;1991). Bowen’s 1953 publication of ‘Social Re sponsibility of Businessman’ was considered by many scholar to be the first definitiveRead MoreConcept Of Corporate Social Responsibility2717 Words   |  11 PagesPurpose and Outline of the report Task A 2.0 Concept of Corporate Social Responsibility (CSR) 2.1 Deontological Theory 2.2 Carroll’s Pyramid of Corporate Social Responsibility 3.0 Key issues of Corporate Social Responsibility 3.1 Economical Issues 3.2 Legal Ethical Issues 3.3 Application of Code of Conduct Issues Task B 4.0 Responsible Practices Task C 5.0 Recommendations Appendices References Report on Corporate Social Responsibilities (CSR) 1.0 Introduction 1.1 Background Do allRead MoreThe Concept Of Corporate Social Responsibility2237 Words   |  9 PagesThe classic origin of the concept of corporate social responsibility (CSR) came from the principle that the purpose of the corporation is to make profits for the stockholders. This view of Milton Friedman came to be referred to later as the classical theory of CSR (Bowie, 1991). Tom Donaldson argued that this theory derived from the concept of the social contract between the corporation and the society where it operates. This perspective, however, faced criticism over its inherently opportunisticRead MoreThe Concept Of Corporate Social Responsibility1174 Words   |  5 Pages The concept of corporate social responsibility (CSR) has been developed for decades and it has been conceptualized in a number of ways. The business only can get success if there is interaction between all stakeholders in the company. The business organization of any form whether it is small or large, are seen as a creation of society and their survival is only dependent on the society. Socially responsible firms view CSR as a source of competitive advantage by attracting a higherRead MoreThe Concept Of Corporate Social Responsibility Essay3395 Words   |  14 Pagestransparency, environment, business and society. The corporates started understanding that they would have to rise over and above the profitability and take care of all those related with their survival in the society directly or indirectly. This understanding is the result of the concept of Corporate Social Responsibility (CSR). This report is to understand of key concepts, principles of CSR, business ethi cs, corporate governance, and social responsible investing by the two case study of the TATARead More The Concept of Corporate Social Responsibility Essays1687 Words   |  7 PagesThe Concept of Corporate Social Responsibility With the interest in Corporate Social Responsibility growing, increasing numbers of organisations are incorporating CSR into their business operations in an effort to be seen acting as good corporate citizens, so what is CSR what is its role in todays organizations? The term CSR refers to a company?s obligation to maximize its positive impact on society, accommodating changing social, market stakeholder pressures in an effort to achieveRead MoreCorporate Social Responsibility : A New Concept2201 Words   |  9 PagesCorporate social responsibility occurs where organizations take full responsibility for their actions to their customers, the environment of operations, immediate communities, stakeholders and employees among others. It extends beyond the legal scope and initiates voluntary steps towards the improvement and sustenance of quality life to the various actors it is affiliated to. For instance, they take part in eradicating poverty-related issues, providing basic amenities to the affected communitiesRead MoreCorporate Social Responsibility : A Strategic Concept1393 Words   |  6 PagesSection 1: Introduction Corporate social responsibility is a notable strategic concept whose presence in today’s business world cannot be overlooked. This paper consists of an intricate analysis of corporate social responsibility, as well as an investigation on how Target Corporation is handling this increasingly popular business concept. The background and foundation of this business approach is thoroughly depicted, shedding light on its rising acclaim among firms and the positive effects it has