CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility

Introduction1

Discussion1

Description of Corporate Social Responsibility1

Reason behind Engagement in CSR Practices2

Social Responsibilities2

Environmental Concerns2

Approaches to CSR -Methodologies3

Sustainability by Accounting and Reporting3

Achieving CSR by Sustainable Procurement4

Achieving CSR by Sustainable Marketing4

Achieving CSR by Innovation4

Rationale for CSR Adoption - Either necessity or choice5

Alternative Opinions5

Case Example - CSR in P&G6

Companies Profile6

Interesting Practices6

P&G and CSR6

Soft Goals and Future Sustainability7

Conclusion7

References9

Corporate Social Responsibility

Introduction

Today businesses are formed of various social and environmental elements that are able to make the business operations engrossed in a range of activities. Organizations that are operating in highly competitive era today are not only expected to make most possible profits, they are also expected to make best use of their resources which must be complied with the ethical and environmental concerns. Globalization has transformed the dynamic of the business world, more than ever before and this is the reason organizations are expected to be concerned regarding all the aspects that are specific to the country in which they are pursuing their operations. The business world has demonstrated rapid evolution in terms of principles and practices. The sustainability of a business is dependent on variety of factors including social profile of the company. This term “Social profile” demonstrates the extent to which social values are integrated in the business ethics (Sutantoputra, 2009). Organizations that are integrated with social values are considered to be more likely to sustain in the competitive world as compared to those organizations which do not take this aspect into their account. This is the reason that the notion of Corporate Social Responsibility (CSR) is developed as a principle study in business world.

Various business operations influence societies and natural environment in which they operate. Conventionally, organizations confined their function to generating revenue for the benefit of stakeholders, but today, the concerns have become more complex when they are required to extend their functions to acknowledge their responsibility towards the society. This extension is not only that is required solely on humanitarian grounds but they also include sustainability of a business in the challenging society.

Aims of the Report

This paper is reporting different aspects related to the CSR practices which are performed with an intension of making the operations of firms less harmful for the environment in which they are dealing. In this paper, the aspects related to CSR will be explored. This will be done by starting the discussion with a description of CSR, later on the reason behind engagement in CSR practices and various approaches to CSR will be discussed. Furthermore, necessity of CSR will be discussed and the alternative arguments will also be given. For making all the discussed methodologies explored adequately case example of P&G will also be provided before concluding the report.

Discussion

Description of Corporate Social Responsibility

Corporate Social Responsibility is a theme which is used for expressing the corporate conducts. It refers towards the ways that are adopted by any organization in order to make the operational conducts more and more synchronized with the requirements. CSR concepts are able to articulate business conducts in which social ...