Corporate Social Responsibility

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

Corporate social responsibility (CSR) is a corporate initiative to assess and take responsibility for the company 's effects on the environment and impact on social welfare. CSR may also be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change.

Corporate social responsibility (CSR) can be defined as the "economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time" (Carroll and Buchholtz 2003, p. 36).

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.

In this article, “The Truth About CSR,” authors Rangan, Chase and Karim stress the importance in aligning a company’s social and environmental activities with its business purpose and values (Rangan, Chase, & Karim, 2015, 41). Outcomes of CSR programs should be a “spillover” and not a primary focus of a business, expressing concern towards social responsibility and corporations failing to contribute to society accordingly (Rangan, Chase, Karim, 2015, 42). There is a great deal of importance in companies refocusing their CSR activities on a primary goal and in providing an organized process for bringing consistency and discipline to CSR strategies (42). Rangan, Chase and Karim want corporations to understand why it is important for them to evaluate their CSR activities and refocus them towards the goal of reinforcing the firm’s societal and environmental actions, while also ensuring their actions add to the overall purpose and values of the corporation. According to the authors, even though

As the European Commission defined, Corporate Social Responsibility (CSR) is “a concept whereby companies integrate social and environmental concerns in their operations and in their interaction with their stakeholders on a voluntary basis.”

What makes this type of food so appealing not only to Americans is that it 's not just hot, tasty, and greasy; it 's also constant and convenient.

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.

One of the most dominating concepts of business reporting is Corporate Social Responsibility. It has become mandatory for every business to include a policy with regards to CSR and produce a detailed report with regards to its activities. CSR can be defined as the relationship between a corporate company and the society in which the company operates. The concept of CSR became famous during the late 1960’s and since then it has helped corporations to sustain itself in the market.

D. Birch (2002). Social, Economic and Environmental Capital. Corporate Citizenship in a New Economy. Deakin University, Melbourne

Today , many corporate organisations are practicing Corporate Social Responsibility (CSR) as part of their company objectives . Their goal is to not only make profit but also to make a contribution to the society . Corporate Social Responsibility (CSR) is practiced by a business organisation by contributing to the community and environment . It is a basic responsibility for each and everyone , not only a person but also a business organisation to behave ethically towards social and environmental issues .Nowadays , more and more business organisation are carrying out CSR policies. Corporate Social Responsibility should not be viewed as a cost because carefully implemented CSR can bring substantial amount of benefits to the business organisation .

Corporate Social Responsibility (CSR) is a public accepted standard for referencing the daily operation of a business which emphasises sustainability. It is not about how a business spends their money, it is about the way it makes profit. Business with CSR will gain their positive image in customers’ mind as CSR is not a law or rule that company must need to follow. (Haynes K., Murray A. and Dillard J., 2013:10) It is also viewed as a combination of business ethical, social, legal, economic responsibility. In case of Walmart’s business, it is a global retailed store which labelled as low-cost seller. However, numbers of negative rumours arose like discrimination, hiring illegal labour and poor working condition and therefore damaged the image of Walmart. (Morrison, 2011:421) And therefore the tension exists between CSR and Walmart. In these few years, Walmart aims for rebuilding their reputation to change the stakeholders’ mind like customers, suppliers and shareholders.

What is CSR? CSR or Corporate Social Responsibility indicates the actions or conducts that are strategically important to businesses. CSR can also be defined as a firm’s efforts or obligations in reducing and getting rid of any detrimental effects on the community and maximizing beneficial effects to the company and community in which it operates in the long run (Mohr et al, 2001, cited Trendafilova et al, 2013). CSR usually starts with the common emphasis that firms are not only responsible to generate investment returns for their investors, but are also responsible to their natural surroundings and to other stakeholders. “This is usually known as the “triple bottom line” – the company’s returns for investors, the environment and stakeholders” (Markley, 2014). In today’s modern business environment, CSR is undoubtedly important because whenever possible, customers would prefer purchasing goods from firms that are reliable; suppliers also prefer supplying to companies that are credible; employees would rather work for corporations they have a high regard for and NGO’s want to work with companies seeking possible solutions in areas of common concern. “Pleasing each of these stakeholder groups enables companies to maximize their obligations to their shareholders who gain most when the needs of other stakeholder groups are met” (Waldman et al, 2010).

CORPORATE SOCIAL RESPONSIBILITY By Lori S. Mohr-Corrigan, For The Paper Store - © October 1999 VISIT www.paperwriters.com/aftersale.htm -- for more information on using this paper properly! Because society is fundamentally based upon performance and profit, it is not unusual to find that it is necessary to impart a sense of corporate social responsibility with regard to contemporary commerce. The ethical approaches of purpose, principle and consequence are integral components of business social performance; itemizing these contributions finds one incorporating the interests of ethics and morality within the corporate structure, essential concepts that are often absent from a managerial standpoint. Chapters two and three of Beauchamp and

Corporate Social Responsibility (CSR) in the corporate event sector can be for everyone operating in this sector a basis for innovations, opportunities and competitive advantages with regard to social, environmental and economic aspects. This essay deals with the question what CSR is and how it influences the corporate event industry in the UK, as well as with the strategies companies have to do to generate a sustainable company structure and how they can advise their workforce to improve responsibility. Furthermore, the right communication of a CSR company structure is an essential aspect and how it has negative or positive effects on the people. The Global aspect of CSR is also interesting with regard to the corporate event industry and