Corporate Social Responsibility
Dr. Anjana Hazarika
Seminar Paper
ARCHIE CARROLL’S CSR PYRAMID: A case study of Bajaj Auto Ltd.
ZAMAN ALI
20091063
B.A.LLB (2009)
Jindal Global Law School
Today, in this complex business environment where all business enterprises are surviving by realizing maximum profits possible, there exists a mechnism called Corporate Social Responsibility (CSR) that is providing the required edge towards success. Corporate social responsibility (CSR) is the way a corporation achieves a balance among its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations. This is because it is
…show more content…
Law lists fair operations of a business in a democratic society and hence, the economic missions of corporations must land within the framework of law. Legal responsibilities are “codified ethics” established by lawmakers that legitimizes the conduct of a business, when adhered to. Furthermore, Carroll lists down few components that suffices the legal responsibilities of a business organization; perform in consistent with expectations of government and law, compliance with all regulations, to be a law-abiding corporate citizen, fulfilling its legal obligations leads to a firm to be successful and meeting minimal legal requirements when providing goods and services. They are depicted as the next layer on the pyramid as it has been seen to be coexistent with economic responsibilities (Figure 1).
* Ethical Responsibilities: Ethical Responsibilities include activities and practices that are expected or prohibited by societal members even though they are not codified into law. Ethics or values may be reflected in laws or regulations but ethical responsibilities enfold emerging values and norms that society (consumers, stakeholders, employees and the community) expects of business as fair and just. He mentions that in one way, these ethics and values become the driving force behind the very creation of laws or regulations and in another way, such values may reflect a higher
Corporate social responsibility (CSR) refers to business practices involving initiatives that benefit society (2). CSR may also be referred to as "corporate citizenship" and can involve incurring short-term cost that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change(1).
Corporate social responsibility (CSR) is a way for companies to give back to society. There are many ways companies can implement CSR; for example, doing volunteer work, environmental sustainability initiatives, or charitable donations. When companies take on certain programs to help the community it can be a financial cost, but the
When the business in observing all the laws governing the business allows the corporation to have the social status as law abiding. This action will fulfill the legal obligation that the governing shareholders expect management to follow and or meet while providing the utmost quality product and services.
Every organized company worldwide should have among its structure, one planning and coordination division in which social and business goals are integrated. Corporate social responsibility (CSR) programs are necessary for commercial business as an element of risk management and represent an outstanding mechanism for the stakeholders to identify weaknesses when their own actions or others conduct in its operating environment generate social risk. (Kytle and Ruggie 2005).
Corporations can be large or small but they all have some sort of ethical impact on their employees, shareholders, customers, community, and surrounding environments. Richard DeGeorge writes, “We can speak of corporations having moral responsibilities to act in certain ways, and they are morally responsible for the consequences of their actions on people.” (p. 200). Large corporations are comprised of the board of directors, management, and their workers. They also deal with suppliers, customers, and have competitors. This essay will examine the moral responsibilities within a corporation.
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.
Corporate Social Responsibility (CSR) has become the corporate buzzword. There are as many perspectives on CSR as are multitude of companies, thinkers and experts. It has evolved majorly over the last few decades in a big way and opinions vary on what CSR actually means and what it doesn’t. At a general level it is seen to include the responsibilities of firms beyond simply contributing to economic growth, and focuses on environmental and societal concerns. As a result of the increased attention around this concept, a variety of tools and guidelines to help companies implement and report on CSR activities have been
Corporate Social Responsibility (CSR) is defined by Carroll as being split into four possibilities,”it is economically profitable, law abiding, ethical and Philanthropic” (Visser. W, 2005). Economic responsibilities is defined as being for profit purposes, managers focus is purely on the outcome of the business and the shareholders, there is
Overall to have ethical responsibilities within a business is to treat your clients and employees respectively as it assists the business with growth and is the ethical state of which a business wants to achieve.
Corporate social responsibility (CSR) refers to the social and environmental responsibility policies and practices developed by an organization to increase its positive influence and reduce its negative activity towards society (Schwartz 2010). Organizations must take responsibility for their actions and all the members of the organization must comprehensively review and consider all their tasked achievements and contributions. A healthy balance between economic progress, social responsibility, and environmental protection can lead to a competitive advantage and solidify an organization's place as a corporate citizen (Dickinson, et.al, 2008).
Corporate social responsibility (CSR) involves organizations taking into account the social and environmental impact of corporate activity when making
“Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company 's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Furthermore, CSR-focused businesses would proactively promote the
The legal responsibility of an organization is to abide by all laws and regulations. The expectation is for the business to follow and obey not only the explicit version of the law but its intended purpose. The corporation’s ethical responsibility is to conduct business and act in accordance with ethical and moral values even when not required by law. The philanthropic responsibility refers to an organization’s obligation to contribute to the betterment of society through its “generosity towards the community” where it resides (Metivier & Matteson, 2015).
Pain and suffering often go hand-in-hand; this, of course, has helped the characters from The Fault in Our Stars by “John Greene” develop stronger relationships with one another and evolve to be more mature: pre-maturely growing in a sense.
This means that organization are expected to do more than just comply with the law, they are to do what is considered right by society’s standards. Organizations should make proactive efforts to anticipate and meet the norms of society even if the law does not formally enact those norms. Ethics are a necessary and critical ingredient in any business that wants to be successful (Barnett).