BUSINESS

Unit 5022: Corporate Social Responsibility

[Name if the Writer]

[Name of the Institute]

Unit 5022: Corporate Social Responsibility

Introduction

CSR advocates oppose on the fact that a high level of commitment to Corporate Social Responsibility is beneficial for businesses. They support their premise by highlighting a survey that was conducted in the year of 2002 including corporate executives at a worldwide level, which concluded the fact that 70 percent of business leaders at a global level endorse the fact that Corporate Social Responsibility is said to contribute effectively in enhancing the profit margin of the companies. There are numerous premises behind this endorsement. The paper discusses the implementation of the corporate social responsibly in the companies and the key areas influenced by it.

Environmental, social and governance, principles of Corporate Social Responsibility

Corporate Social Responsibility is said to be a concept that voluntarily integrates the activities that are social, economical and environmental by nature. It can further be stated that corporate social responsibility is the contribution that a business makes to counter issues concerning sustainable development (Inoue,Kent,2011,1-44). In the year of 2010, the French ministry of Sustainable Development, Ecology as well as Energy utilizes the term societal responsibility held broader and more relevant than "social responsibility". CSR is reflected in the form of following policies:

The act of serving the society through ethical activities.

Creation of wealth in an effective and efficient manner.

Respecting the rights of human by ensuring the development and implementation of safety safety standards of all the employees.

Respecting the integrity of the environment by avoidance of using resources that are pollution minimizing generation of waste and at the same time ensuring the effective use of energy and natural resources (Carroll, 2009, 268-295).

Businesses can have profit maximization by being involving themselves in practices such as sweatshop labour and at the same time the supporters also assert that the businesses should be ignoring the extent to which the operations of the corporation is harming the environment. Apparently it then becomes mandatory to have ethical checks on businesses (Wang,Anderson,2011,51-68). It is also said that the advocates exclaim that it has become very difficult to disguise the wrongdoings of the corporation after the gains that have been acquired by the CSR movement which is also said to entail the increasing fame of reports that are triple-bottom-line reports

The principle however, creates the question of the real motives of CSR. In most cases, is probably to assume that companies not only from altruism to act - rather, they pursue economic objectives - such as increased sales and profits. Increased attention to CSR is supported by the finding that corporate responsibility medium and longer term to increase the company's success contributes (business case) (Wang,Anderson,2011,51-68).

Numerous advocates are said to argue on the fact that CSR is said to be an activity that is voluntary by nature and that it should be mandated by the government for all the companies that are major (Wang,Anderson,2011,51-68). Ella Joseph, a fellow at the progressive British think tank the Institute for Public Policy Research, says that it is ...