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

Corporate Social Responsibility In Business Essay

1948 words - 8 pages

The formal definition of social responsibility, according to Paul Reynolds, is "management's obligation to make choices and take actions that will contribute to the welfare and interests of society as well as the organisation." (1995:23). However, it is not as straightforward as it may seem. Having social citizenship means putting managerial ethics to practice and work. So how can we measure social responsibility if one company's ethical decision might be viewed as unscrupulous to another? With the competing demands from different stakeholders, CSR is becoming more important in an organisation. Australian companies are starting to recognize that they have a wider responsibility to the communities within which they operate. Research has shown that by implementing social responsibilities, a win-win situation can be achieved between the company and its stakeholders.It is said that there are two kinds of responsibility in a company - commercial and social (Frost, personal communication, 2003). Commercial responsibilities involve running a business successfully, generating profit and satisfying shareholder expectations. Social responsibility on the other hand is being aware of the issues being presented in the community and the working environment. CSR is not a new concept. Some companies have always acknowledged a "wider responsibility towards the community" (M.Keay, personal communication, April 2002). Such activities in the past have tended to come under "paternalism" and "philanthropy". However, as Richard Welford suggests that corporate social responsibility tends to be much more far-reaching than paternalism or philanthropy. He states that "social responsibility requires us to look at ethics, stakeholder accountability and also our own value systems" (2002:1).In order for a company to be a social citizen, they must hold a strong belief for ethical decisions and behaviour. Normative ethics uses various of styles to describe the values for directing ethical decision making. As Carolyn Wiley (1995) identifies that four of these styles are relevant to managers. They are the utilitarian approach, individualism approach, moral rights approach and justice approach. The approaches require an organisation to be just and moral in its methods, in order to produce and promote "the greatest good for the greatest number" (Bentham and Stuart Mill). CSR takes on this positive approach. It allows the company to satisfy more of its stakeholders if CSR is adopted by the organisation.From a social responsibility perspective, organisations view their internal and external environment as a variety of stakeholders. A stakeholder is anyone who has a stake in the organisation's performance (Eco Commerce, 2003). They can affect or get affected by the company, so it is very important to keep them in mind when a company makes its decisions. Without them, a company is nothing more than an "inanimate collection of assets and liabilities" (Eco Commerce, 2003). McWilliams and...

Find Another Essay On Corporate Social Responsibility in Business

Corporate Social Responsibility and Business Success

1208 words - 5 pages Introduction There has been a seismic shift in how companies market themselves and their respective goods and services. The primary reason for the shift seems to be a changing consumer base; one that incorporates social, environmental and ethical issues into their buying decisions. Pressure from these more socially conscious consumers has driven companies to adopt more robust corporate social responsibility (CSR) strategies in order not only

Corporate Social Responsibility (CSR) In an Organization

2051 words - 8 pages ?accountid=63189 Slater, A., Thanatrakolsri, S., & Wokeck, L. (2013).Enterprise based approaches to economic development and poverty alleviation. In Business Briefing. Retrieved from Smith, R. E. (2011). Defining corporate social responsibility: A systems approach for socially responsible capitalism. (Master's thesis, University of Pennsylvania).

Corporate Social Responsibility in Asia Pacific Region

600 words - 2 pages Social Responsibility (CSR) or a corporate citizenship program that oversees its involvement in developing sustainable all round growth and development of the society in which it operates. CSR refers to an organization’s mechanism for ensuring that it goes beyond adhering to law by engaging in activities that create a positive impact in the lives of its customers, both internal and external, in the community and on the entire environment. It is a

Corporate Social Responsibility in Foreign Countries

1380 words - 6 pages When it comes to companies operating in multiple countries with varying standards, companies should realize that they have to practice some level of corporate social responsibility if they don’t want to be publicly scorned or looked down upon in their home country. Over the past several years, companies have been experiencing pressure through their stakeholders and their consumers to show how they are committed to prevent human rights violations

Corporate Social Responsibility

2454 words - 10 pages discussed. Corporate social responsibility has undergone a definitional evolution over the past half century but has always and will always remain an essential part of business language. Definitions of CSR have became more specific; since the 70?s, with alternative emphases, being placed on issues such as the understanding of corporate citizenship (which is a key concept of CSR), and the stakeholder theory. In early writings CSR was

Corporate Social Responsibility

1437 words - 6 pages . (2005). A stakeholder model for implementing social responsibility in marketing. European Journal of Marketing, 39, 956-977. Maslow, A. H. (1943). A theory of Human Motivation. Psychological Review, 50, 370-396. Moser, M. R. (1986). A Framework for Analyzing Corporate Social Responsibility. Journal of Business Ethics, 5, 69 - 72. Nijhof, A. H. J., Bruijn, Th. de, Fisscher, O., Jonker, J., Karssing, E. D., & Schoemaker, M. (2006

Corporate Social Responsibility

1852 words - 8 pages . From the 50s until present, CSR has been applied widely as the world becomes one due to the globalization. The areas that CSR covers are not only the company shareholders but also whoever involves in its business- other stakeholders. Besides, the natural environment and general social welfare are two areas related to corporate social responsibility (Griffin & Pustay, 2013). Firstly, talking about organizational stakeholders, including customers

Corporate Social Responsibility

1811 words - 7 pages prospective employees who study Business Communication, when searching for their first job and if so, which aspect of CSR has the greatest influence on applying for a job and to what extend are aspects of the needs motivation theory important? In order to answer the research question of this study a literature study was carrier out to give a broader perspective of Corporate Social Responsibility, of the Person-Organization fit and on motivation

Corporate Social Responsibility

549 words - 2 pages Friedman painted an unrealistically extreme picture of what "social responsibility" is. He portrays the social responsibility of corporations as something that should and will be done, regardless of the company's financial capabilities, or the will and benefit of the stakeholders.Given that his view and arguments are based on extreme situations, I don't think that he is correct in concluding that corporate social responsibility is "taxation

The Corporate Social Responsibility

771 words - 4 pages of the organisation, community or society. According to Baker (2004) defined “Corporate Social Responsibility as how companies manage their business process to produce an overall positive impact on society”. Furthermore, Holme and Watts in Baker (2014) defined “Corporate Social Responsibility as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce

What's Corporate Social Responsibility

2428 words - 10 pages company sees as the best way to doing something is what action they would be taking. This is usually based on the specific ethical values of the organization. Many companies in Trinidad and Tobago deal with corporate social responsibility and take the first step towards responsible business practices. Bmoblie for instance, in a recent study, has joined the list of benefactors supporting the restoration of the Cathedral of the Immaculate

Similar Essays

Business Corporate Social Responsibility Essay

738 words - 3 pages the organization. (Turker 2009). BreadTalk created 'Ping Chuan Xiong' 平川熊 (Peace Panda) to make a difference and to give back to the society during a crisis as part of the Corporate Social Responsibility program. (BreadTalk Group Limited 2012) This would create the sense of satisfaction from the employees as they are deemed as a participant of a worthy cause, providing a need for those in need. The employees of BreadTalk would have a sense of

Corporate Social Responsibility In International Business

2478 words - 10 pages In the past, the only thing most of businessmen interested in is how to maximize profits of companies and cut the cost as much as possible at any price. Very few companies of that time worried about the moral values and ethics in doing business. And when the concept corporate social responsibility (CSR) first appeared in the 1950s, not much corporation appreciated it, businessmen in that decade “talked” more than “action”. However, the emergence

Corporate Social Responsibility In Organizations Essay

894 words - 4 pages Is Corporate Social Responsibility being used as a mechanism to draft, keep and engage employees? As the days have gone by, employees are craving something extra. Paychecks are not the only incentives that are now drawing the talent. Ethical behavior and social responsibility are two appropriate ways that corporations should manage and conduct business (Phillips & Gully, 2012, p. 19). There are many favorable reasons for an employer to

Business Ethics And Corporate Social Responsibility

581 words - 2 pages Corporate Social Responsibility or CSR covers all aspects of corporate governance. It includes information on how companies conduct their business in an ethical way, taking account of their impact economically, socially, and environmentally. CSR includes relationships with employees and customers. Increasingly companies have to take account of how their actions impact on society. Branding or creating an image has become an important way to add