How Corporate Social Responsibility Could Be Improved

By

ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as well as guidance they provided without which I would have never been able to do this research.



DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

Signature:

Date:

ABSTRACT

The idea that business firms should contribute to solve social problems has been around for a long time in many areas of the world in the form of CSR. A corporation, as an economic entity, has moral responsibility to others in society, as opposed to claiming moral responsibility for its acts or to being held morally responsible for the consequences of its decisions, because a corporation has the intentional strategy to accomplish the shared goals of its founders and its constituents. A firm uses its corporate ability and other marketing strategies to enhance its corporate image and gain a competitive advantage over its competitors in the marketplace. The literature on corporate social responsibility overwhelmingly shows a positive relationship between corporate social responsibility and a firm's competitive advantage. The fact that a particular cultural and structural configuration differs from others across time and space adds more complexity. CSR obligations, at the different levels of analysis and in their various domains, are filled with specific contents, according to the values, expectations, and preferences which exist within a given socio-cultural configuration.

Table of contents

ACKNOWLEDGEMENTii

DECLARATIONiii

ABSTRACTiv

INTRODUCTION1

BACKGROUND3

Corporate Social Responsibility3

Current Status of CSR in the UK4

CSR and its Relation with Stakeholders6

DISCUSSION10

Advantages and Disadvantages of CSR10

Implications of CSR on Companies' Performance12

Driving forces towards CSR Implementation13

Implementation of CSR and Profitability of Organization14

CONCLUSION17

REFERENCES20

INTRODUCTION

The idea that business firms should contribute to solve social problems has been around for a long time in many areas of the world, and its acceptance has increased in the last 30 years. Several authors have shown that at that time there was an increased interest of society in topics such as civil rights of minorities, women rights, environmental protection, workers' health and safety, consumer rights, pacifism, etc., and the role of business firms with respect to them. These interests mobilized business people, scholars, governments, civil organizations, etc., in an unprecedented fashion. This era is usually acknowledged in the literature as the origin of CSR. Nevertheless, there are numerous evidences that, in other countries, CSR has been driven by local concerns, actors and contexts, in many cases much earlier than the emergence of the concept in the United States. The concept of social responsibilities of economic activities was firstly implemented by Ludwig Erhard in 1949, in his role as minister of economy of Western Germany, through an extensive body of legislation and regulatory action.

The aim of ordopolitics has been to guarantee fair competition, assure ...