This website uses cookies to ensure you have the best experience. Learn more

Benefits And Costs Of Adopting A Csr Strategy

1776 words - 7 pages

Organisations, governments and activists currently face the challenge in how to respond to the growth of Corporate Social Responsibility (CSR). CSR has now grown swiftly and relatively smoothly over the last two decades as the numbers of companies take up the standards of CSR in attempt to make their operations more moral ( Hancock, p27, 2005). CSR originated in the year1953 with the publication of Bowen's book "Social responsibilities of Businessmen" (Keller, 2003). CSR can be defined in various ways, it can be described as operating an organisation or a business in a way that meets or exceeds the ethical, legal, commercial and public expectations that a society expects from the business. CSR is closely connected with the principles of sustainable development in declaring that business organisation should be obliged to make decision not only based on its financial and economic factors but also on the social and environmental factors. CSR could be in various forms such as, healthcare initiatives, and community relations, preservation of cultural heritage and volunteer assistance programs (Theaker, 2001). The philosophy of CSR is to give back to the society, what the organisation had taken from it to achieve its objectives.There are two opposing views of social responsibility. On one hand there is the classical view and on the other hand there is the socioeconomic view. The classical view that is purely economic, states that the management's only social responsibility is to work on maximising the profits. At the social level, classical view identifies the managers as individuals responsive to market conditions and responsible to follow the laws and the societal norms (Brown, p15, 2005). Economist Milton Friedman adds that a corporation's principle goal is also to obey the laws of the countries within which it works. However, some people have different views on why corporations take social responsibility. There view is that, the corporation gets commercial benefit by raising their reputation with the society and the Government. Friedman also argues that when managers make decisions to spend the organisation's resources for social responsibility, they are raising the costs of the organisation and therefore reducing the profits (Robbins et. al., 2006). However, the costs can be passed on to the customers by raising the prices or the costs can be contributed by the shareholders by reducing the organisation's profit margin.The socioeconomic view states that management's social responsibility is not only making profits but it goes beyond to include protecting and improving the society's welfare. The supporters for the socioeconomic view debate that managers should be looking forward to maximise the financial returns over the long run and to do that, they must take on social responsibility and its costs (Robbins et. al., 2006). The socioeconomic view argues that the role of recent modern organisations has changed and that society expects the organisation...

Find Another Essay On Benefits and Costs of Adopting a CSR Strategy

Costs and Benefits of Globalization and Localization

1160 words - 5 pages For one to understand the costs and benefits of globalization and localization one first needs to understand what each entails. Globalization is when a country involves itself into international affairs, economically, politically or even possibly culturally. Globalization expands beyond the local boundaries of a nation and spreads into other communities throughout the world. Localization is when a country chooses not to participate in global

Costs and Benefits of Globalization and Localization

1713 words - 7 pages days of their ancestors. Critics of globalization feel that it is more beneficial for their country to remain independent of the influence of other countries. They are not welcome to the so-called benefits that have been introduced in their country. Globalization is seen as a threat to their political system, their economy, and their country. They believe in localization. They are more concerned with what occurs within their boundaries

Benefits Transfer and Social Costs

2054 words - 8 pages Appendix B. Theoretical basis for measuring social costs Because landfill disposal creates external costs to nearby residents, market failure often occurs. While benefits provided by a new landfill site are shared by all citizens, harms from a landfill (e.g., reduction in housing values) concentrate on nearby residents (Kunreuther and Kleindorfer 1986; Mitchell and Carson 1986). In order to measure the community’s social costs for each

The benefits and costs of outsourcing for America

3280 words - 13 pages cutting huge costs through outsourcing while their non-core operations are looked over by a specialized foreign firm. Outsourcing frees up human resources and allows the company to be more flexible for future changes and avoids potential internal problems as those become the responsibility of the outside firm. Outsourcing leads to tighter relations between strategy and IT. Knowledge which usually flows slowly can flow freely, and a company has more


738 words - 3 pages of marketing, Smith Business School Professor PK Kannan explained the two sides of the divide. For one, he was concerned with what presentation of contents consumers were more in tune with. Engagingly, he discovered that most consumers would settle for the 2 modes of content as both offered certain unique benefits. Notable are the convenient access to digital contents, sharing with friends and ease of turning a digital content into print

Costs Versus Benefits Of River Regulation

757 words - 3 pages River regulation is any man made structure that interrupts a waterway for the purpose of regulating the flow to allow a more constant supply. This regulation of waterways has many costs and benefits associated with it and affects both the submerged areas and the downstream reaches of the stream. This essay will compare the costs versus benefits of such river regulation.When a river has a dam, weir, or diversion built on it the water is held back

Costs and Benefits of Humans and Space Technologies, Exploration and Innovation

1895 words - 8 pages ). It is important that we realize that human safety is critical to maintaining public and political support in space programs. There are many costs and benefits to space exploration; these measures weigh differently for the NASA, scientists and engineers, the military and corporations. However, realistically, without the constancy of fiscal support space programs cannot be carried out and the U.S. move towards better space vessels. In this essay I

Costs and benefits of regional and international trade, and which should Canada be then pursuing?

2178 words - 9 pages considerations to think about..As benefits tend to be concentrated, the costs of regional trade tend to be distributed (F&L 328). In other words, a few firms may benefit greatly from certain foreign control policies, which mark the preferential treatments established in regional trade agreements, but the costs involved in the implementation of such procedures are distributed among consumers and other firms in such a way that the costs of protesting

Domestic and Internationa Adoption: A look at Adopting a Child or Adopting Out a Child

1842 words - 7 pages holding a baby in her stomach, but in her heart. The way that the adoptive child is raised is completely up to their new parents. Although there are many different types of families in today's society, adoption is one of the unique ways to raise a family. Some of the main forms of adoption include opened adoption, closed adoption, international adoption, domestic adoption, and interstate adoption. Believe it or not, the idea of adopting is considered

What are the Costs and Benefits of Managing Emotion Life, in Private Life and at Work?

1001 words - 5 pages through socialisation and we only become aware of emotion work when we aren’t feeling how we are supposed to feel in a given situation. Throughout this assignment I shall focus on analysing both the costs and benefits of managing emotion with reference to specific examples relating to both private life and work life. The first paragraphs will provide a brief outline of what managing emotion entails, a description of emotion work and also an

The Dangers of Teen Sleep Deprivation: Benefits of Adopting Later Start Times for High Schools

3411 words - 14 pages “Bueller?…Bueller?” The monotone history teacher appearing in the popular 1980’s film “Ferris Bueller’s Day Off,” proceeds to take role-call in his morning history class: a positively lethargic group of students, comically struggling to stay awake. As the teacher monotonously pronounces each name on the attendance list, one student gives a deadpan stare, mouth slightly agape and eyes drooping, while another student can’t beat the fatigue

Similar Essays

The Sociat Costs And Benefits Of A Fast Food Industry

817 words - 3 pages The Sociat Costs and Benefits of a Fast Food Industry There are many social benefits to a fast food industry. Firstly, it’s the accessibility and convenience of having the fast food restaurants – they’re located practically everywhere. The service is also fast, hence “fast food” and therefore maximizing the convenience of them to consumers. Most of the time, the products of the fast food industry are cheap, tasty

Costs And Benefits Of A Dual Relationship In Psychology

1691 words - 7 pages One major debate for counselors or psychologists is the costs and benefits of a dual or multiple relationship between the clinician and a client. One way a multiple relationship may occur is when a clinician is holding a professional role as well as playing another role with the same person outside of the professional setting (APA, 2002). Two major types of additional relationships a clinician may be involved in with an individual(s) is a

Costs And Benefits Of Globalization And Localization

1442 words - 6 pages between the developed and developing world," he said, "to ensure that globalization benefits every country." He continued, "globalization should bring security and confidence, not greater vulnerability to our people." "Globalization has done a lot of good." (Reuters) This brings the discussion of the costs and benefits of globalization and localization to current realizations. Jayakumar points out that not continuing globalization, especially in

Costs And Benefits Of Globalization And Localization 1299 Words

1299 words - 5 pages The debate over globalization and localization has long been fought as whether or not to pursue an international or isolationist foreign policy. Essentially, the term globalization means an integrationist approach to policy, whereas localization refers to a fragmentational approach to foreign policy. There are many issues in this debate, but none as complex and important as that of the costs and benefits of the economy. Other issues