Summary: Realigning Business With Social Care

Aligning self-interest to social responsibility is the most powerful way to sustaining a company’s success.

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

and corporate social responsibility (CSR)”. Business need to transform for sustainable development. “CSR” is not only an empty talk which is also become the determinate factor of a company. “Jacoson and Nelson(2004) take more of a how-to approach, offering a principle-based framework for mastering what they called ‘new rules of the game’.” (Alessia, 2009) CSR of business began to wake. “There is growing sense that looking after the people and the community as well as the environment are all relevant to long-term business survival.” (Alessia, 2009) As the CSR become a esthetic standard and sustainability standard for a business, companies focus more on triple bottom line-people, profit and planet-also could definite as environmental, societal and business arenas. CSR is a start to lead business to sustainability. It is more likely a principle to measure companies’ ethics and sustainability. Berkhout indentified some challenges for companies under the CSR principle. “How to balance its social and environmental responsibility with its economic responsibility to

CSR has become a large part of a businesses brand image, in the 1950s the primary focus was on businesses ' responsibilities to society and doing good deeds for society. In the 1980s, business and social interest’s became closer and firms became more responsive to their stakeholders. During the 1990s the idea of CSR became almost universally approved, finally in the 2000s, CSR became an important business strategic issue (Rosamaria et al. 2011).

In the today’s business world, there are many strategies being used to run businesses. In the recent past, the topic of Corporate Social Responsibility (CSR) has grown rapidly.

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.

They are increasingly aware that Social responsibility can be of direct economic value.  Companies can contribute to social and environmental objectives, through integrating Social responsibility as a strategic investment into their core business strategy, management instruments and operations.   This is an investment, not a cost, much like quality management.  So, business organizations can thereby have an inclusive financial, commercial and social approach, leading to a long term strategy minimizing risks linked to uncertainty.

With increasing urgency, market and social forces are rewriting the roles and responsibilities of business as well as its strategies. Though the profit motive of business is understood and accepted, people do not accept it as an excuse for ignoring the basic norms, values, and standards of being a good citizen. Modern businesses are expected to be responsible towards the community resources working toward the growth and success of both their companies and their communities.

Marketing is only one intricate facet for any company sustainability. There are six components for the marketing code of ethics, also known as “the six pillars” of marketing (6PM). The 6PM components includes: 1) caring, 2) citizenship, 3) honesty, 4) fairness, 5) responsibility and 6) respect. All these components separately play a significant part in the marketing code. Understanding how each element pertains individually and collectively to the success of a business can prove crucial to any organization longevity. The 125 years of operation has shown Coca-Cola (n.d) has been sustainable. One can easily observe the 6PM in the company’s vision (Figure 1), mission (Figure 2), and value core (Figure 3). The Coca-Cola Company initiated, developed, and implemented the 6PM methodology/ethics as part its corporate culture for continuous sustainability.

Engardio et al. (2007) explained that CSR and ethical responsibility are critical factors to build an organization that is sustainable. The authors explain at length how embracing a sustainable business model would help it avert costly setbacks from political protests and legal expenses.

“Corporate Social Responsibility (CSR) is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Holme and Watts (2000) p.8). For many years business have cared solely on money however in recent years businesses have started to take interest in CSR and helping society welfare. This paper will discuss if Corporate Social Responsibility is likely to become a game changer in the near future.

Many large corporations are taking corporate social responsibility into account and making it a part of their everyday schedule. Over the past decades, there have been increasing concerns for general society that many businesses have little concern for the consumer and they care nothing about the deteriorating social order. But these days’ companies are encouraging employees to volunteer and make a difference in surrounding communities. In this way they are supporting and improving the quality of life and enhancing the vitality of the communities in which they operate. There are many organizations that are encompassing CSR into their plan of action and also they are making new policies that can be beneficial for society. There are so many ways to incorporate corporate social responsibilities into business modules such as health, education, environment and helping in natural disaster.

It has been a long time since I defined the most fundamental and strong motivation of corporations is maximizing business profit. Even after the proposal of corporation social responsibility, I assumed that only the result of unharmed business operation can make company start to consider social responsibilities and until they increased their profits they will remain no more than a bystanders from external issues be it social or environmental.

Leading community businesses and governments admit Corporate Social Responsibility (CSR) as an official policy objective. Those companies who apply CSR are able to maintain sustainable progress. This development covers social, economic and environmental influence in how they run (Clegg, 2011, p. 216). Three areas are the bases of the triple bottom line (TBL) approach (Elkington, 1994). CSR itself has various meaning but in more simple way it can be defined as firms’ obligation to act ethically and to facilitate elaboration. Thereby they try to make employees’ life better and likewise help to demonstrate a positive impact on local society. Therefore businesses are responsible for two factors of how they operate. Firstly, they should be concerned about the quality of management including people and operations. Secondly, they have to consider the character and amount of their effect on community in different fields. External stakeholders take a huge concern on how an organisation acts whether they perform well in their products, services, and society or not. Moreover they take an interest in how they care towards the workforce (Baker, 2004). The following paper demonstrates the major reasons of why businesses should take CSR seriously and what advantages does CSR have when they use it. First aspect will be related to reputation and brand image. Then it will be followed by strategy of cost reduction. Third aspect will explain the approaches to gain a competitive

Utilitarian Theories and Kant’s Categorical Imperatives can be seen in the concept of Corporate Social Responsibility (CSR) (Arnold, Beauchamp, & Bowie, 2013). CSR concepts are a result of governmental regulations, a business desire to increase brand equity, a business desire to increase customer equity, to be ethically responsible, and to attract talent (employees). Other than fines imposed for violating federal laws, there are other factors that influence change within the business community. Many studies conducted show a correlation of profitability with a company’s that demonstrate ethical and social responsibility (Scarborough & Cornwall, 2013). Business entities demonstrate CSR to their employees, the environment, investors, and to customers.