Arguments for and against CORPORATE SOCIAL RESPONSBILITY SEMESTER 1 2015
Word count: 1497
Pages: 1 of 6 (excluding cover page)
?Responsibility is the Price of Greatness?- Winston Churchill (Evans, W. 2012)
This statement has a direct correlation to the seemingly new phenomenon that is making a mark on all organisational functions within a business, this new operational invention is known as, corporate social responsibility. Corporate social responsibility (CSR), in summary involves businesses exceeding their lawful duties and placing value on their financial returns, as well as, being environmentally sustainable and socially responsible. Despite the wide spread sensation this concept of CSR has had on modern day businesses, there has also been an after lash of criticism and contrasting perspective on whether this organisational concept should be applicable for all businesses. Predominately because this organisational mechanism has a variety of advantages for business if applied correctly, however CSR is also seen as a burden for some organisations as many question whether the cost of being socially responsible is necessary and if such mechanisms will attain benefits for the business. Therefore CSR is depicted as a conflicting influence on organisations, as it allows businesses to obtain varying advantages i.e. long term profit, but at the cost of short term disadvantages such as high cost involvement. In turn, the question whether a business should apply CSR method lays on the objectives and perspectives of those within the organisation.
The societal demand for a business to apply CSR mechanisms into their organisational functions remains to incline simultaneously with the continual rapid changes occurring in the dynamic business environment. Despite this uproar of need for businesses to be socially responsible, corporations of all sizes persist to question whether CSR is a necessary cost and if it will reap large benefits for their business. However, through studies and observations researchers have understood that CSR, in fact, may have a substantial beneficial impact on business operations. However these advantages can only be obtained to their foremost extent if CSR is applied by management that is socially responsible rather than one that is merely abiding by social obligation. In other terms the business must be willingly engaging in a socially responsible manner for the greater good of society. Hence many seminal scholars and corporations justify the scepticism of CSR by stating that, businesses should be socially responsible as such operational methods may provide excessive amounts of advantages if applied accurately to all organisational functions. In specifics a company may act socially responsible if they take the initiative to take part in community groups and charities. Consequently such business, through its positive charitable acts benefits intrinsically as employees are detected to become more motivated,...