Corporate Service Responsibility And How It Is Affecting A Business

1066 Words Sep 2nd, 2016 5 Pages
When generally speaking about businesses, with the rapidly moving business environment it is hard to just consider about the bottom line. Because with the improvement of the technology and the knowledge of the customers they are more concerned about what the businesses are doing to the society and how the products are coming to the hands of the customers.

Purpose of this essay is to discuss the corporate service responsibility and how it is affecting a business and the stakeholders of a business. Further, it will be discussed about many reasons why practicing CSR in a corporation is important and what are the advantages of CSR. Further, the disadvantages and the different views.

Corporate social responsibility is contributing in welfare and charity work rather than just considering about the bottom line of the business or profit maximisation. CSR Broadens the company vision and improve the Quality of the community life of the business by humanising (McWilliams, 2015). It is basically doing something for the society than what they are expecting. As in being ethical or in other words doing charity and stuff to stakeholders.

Even the company is contributing for corporate social responsibility and at the end the owners and the directors are seeking to maximise profits. A study performed by Kenexa High performance institute in 2015 has found that the CSR oriented companies have performed 19 times better Return on assets ratio than who are not practicing CSR (The Importance…

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