The Main Approaches Of 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) 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).

Research into the topic of Corporate Social Responsibility (CSR), has shown that there is no single universally accepted definition. CSR has many

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

Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism that has business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process with the aim 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 who may also be considered stakeholders. CSR is titled to aid an organization's mission as well as a guide to what the company stands for and will uphold to its consumers. Development business ethics is one of the forms of applied ethics that examines

According to World Business Council for Sustainable Development, “Corporate social responsibility is the continuing commitment by business to contribute to economic development while improving the quality of life of the workforce and their families as well as of the community and society at large”. A social responsible company may be defined as a company which integrates and takes in active parts the social and environmental concerns of one’s community and society. Acting in a socially responsible manner is more then just an ethical duty for a company nowadays, it is something that essentially has long term interest in both the company and the community. The motive is to produce economic value for the company but as well for the society as

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.

‘Corporate social responsibility’ (CSR) means that the firm has wider responsibilities in relation to objectives and people apart from the owners or shareholders (Beal and Goyen 2005). These responsibilities are achieved when the firm adapts all of its practices to ensure that it operates in ways that meet, or exceed, the ethical, legal, commercial and public expectations that society has of business. Objectives often associated with CSR include a responsibility to manage natural assets sustainably and not to pollute by chemical discharge, smell, noise, dust or other irritants; fair treatment of employees and ethical attitude towards clients. The other people include employees, customers, suppliers,

Corporate social responsibility is the voluntary stance or set of actions from a corporation that demonstrate a contribution to a better society and a cleaner environment. Corporations are already required to operate within the law, but laws do not always protect all people or individuals who will be affected by the corporation’s actions. In addition to this, it is very common for special interests to play a part in legal decisions through lobbying efforts, so it is assumed to be an additional effort for a corporation to be socially responsible. Being socially responsible essentially comes down to being considerate and calculated in the decision making process, paying attention to the consequence of every action. In the ethical decision making model, there are two particular steps that I believe to be of greater importance than the others. The first would be that of

In (Cohen, 2008), the author quotes (Drucker, 1946) in noting that “Every organization must assume full responsibility for its impact on its employees, the environment, customers, and whomever and whatever it touches”. According to (Cohen, 2008; Drucker, 1946), that is the very definition of social responsibility. There are many ambiguities surrounding the concept of social responsibility; everything from definition to terminology, even what actions constitute responsible behavior is unsettled (Vogel, 2005). For purposes of this paper we will use the term corporate social responsibility (CSR).

Social responsibility is a form of corporate self-management that tightly integrates into the business model and operations of an organization. In practice, social responsibility encourages personnel at all levels of the company to not only consider the method of

A companies drive for social responsibility can be out of passion, for their brand image, purely for profits or any mix of motives, wether this pursuit is ethic, the actions of social responsibility are. While some argue that a business must first and foremost put its profits

As mentioned earlier, ethical approaches toward the concept of CSR emphasize the point that the corporation has an moral responsibility toward its stakeholders. As total opposite toward the more profit oriented theories, the ethical perspectives toward the concept of CSR emphasizes the fact that the corporation should have responsibility towards its stakeholders, not with the overall aim of making profit but rather with the purpose of creating a better society. Therefore the relationship between the corporation and society should be based according to the ethical responsibility the corporations has as its overall aim.

Corporate Social Responsibility (CSR) – is a set of commitments, corresponding to the specificity and level of development of the company, whish is reviewed regularly and dynamically changing. CSR is voluntarily and agreed with the participation of key stakeholders, taken by the company’s management, with particular reference to the views of staff and shareholders. It is performed in mainly at the expense of the company and aimed at the realization of significant internal and external social programs, the results of which contribute to the development of the company (production growth, improving the quality of

Social responsibility (CRS), corporate social responsibility is one of the most significant facets of a company because it is their duty, their actions, their strategic plan that is engrafted into their culture or their business model that will cause an impingement on the decisions and the activities on society (Lussier & Sherman, 2013). Social responsibility is an act that helps corporations like ITC monitor the public, consumers, community and their employee’s responsibility. Therefore, according to ITC Ltd, they CRS policy articulate a strategic content, far beyond financial profits, but to produce game-changing programs that generate livelihood, creations and environmental replenishment as their normal conduct into their strategic business plan (About ITC, 2017). Social responsibility develops a positive relationship with the employees, and society, which makes people proud to be part of that organization. Even though ITC’s profit is one of the contributing factors in India’s economy; ITC tries to keep their stakeholders, customers, and employees in mine, as they strive to do their best to integrate the importance of corporate responsibility while implementing ethical and moral decisions.