CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility

Abstract

Corporate social responsibility takes in retailer strategies to the natural resource, climate changes ethical sourcing, sustainability, corporate governance and community engagement, among the further issues. It's getting towards the point where an option no more exists if it comes to corporate social responsibility. Instead, efforts towards the CSR would simply become a compulsory cost of making your business run. CSR is now like a new “religion” adopted in the businesses. Those businesses that are investor-owned are now speeding up to participate in the competition on the basis of the positive reputation that who is more socially responsible in the businesses, or who could be able to communicate the responsibility at the level best.

Table of Content

Introduction1

Discussion1

Major Areas of Improvement2

Economic and Legal Areas2

Ethical Area3

Discretionary Responsibilities3

People3

Products4

Principles4

Environment and Community5

Democracy and Development5

Conclusion6

Corporate Social Responsibility

Introduction

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. However, in order to be socially responsible refers to be going 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 the increasing customer attention and the increasing market opportunities.

Discussion

CSR is the concept of creating a good sense of business. Basically, it means that in Corporate Social Responsibility: how a business should ethically behave and how it can contribute in the growth of the economy while improving the quality of life in the workplace and their families including the society and community. A theory with the name of “creating shared value” was presented by Professor Michael Porter. This theory states that corporate success and Social welfare are interdependent and go hand in hand. In this way, company Q's contribution to social welfare identifies it potential of success. For example, a healthy environment in workplace, health educated workforce, a government policy adaptive and sustainable resource.

These factors help the business to grow effectively. If the business acquires growth based on these factors then it is going to bring extra revenue which can be used in the development of Social welfare programs. This chain then goes on and on. CSR is defined as the obligation of the company Q to exert a positive impact and to reduce its negative impact on the society (Turban 2001: 293). Several studies have demonstrated how information about CSR affects consumers such as their attitudes towards company Q's, brand, and retail store; purchase behaviors, identification with the company; and causal attributions (Piga 2002: 13). Schwartz et al. (2003) examined the definitions of corporate social responsibility, and concluded that it is a social contract between corporations and society, based on long-term social demands and expectations. Harrison et al. (1999) defined CSR image as the consumers' associations arising from corporate activities related to public affairs, literature and arts, social welfare, ...