CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility

Corporate Social Responsibility

Introduction

Corporate social responsibility (CSR) is the phenomenon that management of business process in a way to produce positive impacts on society. According to Baron (2005) the term CSR refers to integrate self-regulation mechanism in business model to show the intentions of organization that it assumes social responsibility and will work for the betterment of the society in which it operates. This term can also be define as the process of developing business in a way to produce positive impact on environment and society in particular community, stakeholders, customers and other) through business. Additional, CSR actively works in strengthening the interest of public, by promoting the development and growth of society, and voluntarily on the elimination of practices which are acting like damaging the interest of public, irrespective of legality. Corporate social responsibility is essentially the addition of socially responsible companies to deliberate the public interest in the resolution companies' decisions, and in honor of triple bottom line: profit, people and planet.

Current practices of CSR are the subject of widespread criticism and debate. Advocates of CSR support their opinion by arguing that issues of social responsibilities of businesses have strong demand, as companies have potential to produce benefits for the society through their business practices. Proponents also argue that CSR in a broader view can increase the profit margin of the company as well as CSR can also help companies to achieve their long-term goals. Contradicting these views, critics argue that CSR is nothing but a well-decorated window surface, which in reality has no benefits. Critics also support their notions by regarding CSR as an act to preempt the government role as supervisor on large multi-national groups. (Jong-Seo, Young-Min & Chongwoo, 2010)

This study would attempt to assess and apply shareholder/stakeholder strategic CSR values; the economic impact of business ethics in corporate trading and its sustainability in today's global environment. In order to assess and apply shareholders/stakeholders values using CSR, this study would examine the case of Ben & Jerry Company.

The Best Definition of Corporate Social Responsibility

Before proceeding further towards the case, it is pertinent to discuss different factors of CSR. There are many definitions that describe the CSR as a model through which the businesses could integrate a positive move towards the concerns of the society on the voluntarily basis, implementing it in the behavior of their business. (Rosser & Edwin, 2010) However, in order to be socially responsible refers to go beyond profitability maximization or the legal compliances that could make the improvement in business's socially responsible reputation and increase the competitiveness by investing a large proportion in the environmental and social area, affecting the positive economic results from increasing customer attention and the increasing market opportunities. (Dhaliwal, Oliver Zhen, Tsang, & Yong, 2011) CSR can be defined as being classified into two different dimensions: one is internal dimension and another is the external dimension.

Internal dimension:

Management of human resources (empowering of employees, long-life learning, quality in work, responsible recruitment practice)

Providing safety and health ...