Social responsibility is an idea that has been of concern in mankind for many years. Over the last two decades, however, it has become of increasing concern in the business world. This has resulted in the growing interaction between governments, businesses and society as a whole. In the past, businesses mainly concerned themselves with the economic results of their decisions. “Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions” (Anderson…
Corporate social responsibility has been a fixture in the business world for decades, and has become embedded in many universities as higher education leaders seek alternative ways to achieve sustainability (Weiss, 2016). Social Responsibility can be defined as a code of conduct and action beyond what is required by laws and regulations when running a particular organisation. As organizations do not operate in a vacuum, their activities will impact their surroundings which include their stakeholders…
Corporate Social Responsibility Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business/ Responsible Business) is a form of corporate self- regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process…
would take. The corporate decisions involve business ethics and the corporate social responsibility and comprise environmental stewardship, fair labor practices, accurate accounting, reputation management, as well as corporate governance. As such, the business ethics field is concerned with the scope of responsibilities for all its stakeholders. The corporate social responsibility is concerned with the welfare of a society thereby making the society’s health and the long-term corporate interests the…
Corporate responsibility is a term that is supplanting the term corporate social responsibility. The ‘social’ is increasingly being omitted in order to emphasize the (claimed) broader responsibilities of business corporations, particularly their responsibilities with regard to the environment. Corporate Social Responsibility has helped several companies to develop and work upon several new core competencies, which enables the corporate to build a special relation with its customers, society, its…
The scope of corporate social responsibility (CSR) has four major areas are representative of four major groups associated with an organization: 1. Stakeholders and investors 2. Employees 3. Consumers 4. Community To fully comprehend the ethics behind CSR this paper will seek to examine the ethical links between a business and the previously listed groups. The business has an ethical obligation to the stakeholders and investors to protect their investment, assess risk, and to make a financial return…
Corporate social responsibility ! this essay is going to discuss A business’s only responsibility is to produce profits.To what extent do you agree with this statement ! to answer whether am I for or against corporate social responsibility, I would say I disagree because I don 't believe in just making profit, I believes in giving back to the community. As we can see some businesses include poor people in their investments and this benefit both rich and poor people.! According to Mc Williams and…
Corporate social responsibility is always a controversy topic when people discuss about a company’s contribution towards the society. Nowadays, many corporation has implemented policies that aims to provide social benefit to the communities. In Kasturi Rangan, Lisa Chase and Sohel Karim’s article “THE TRUTH ABOUT CSR”, the authors believe that the corporation’s main goal regarding to social responsibility is to align the “social and environmental activities with business purpose and value” (42)…
1. Introduction “There is one and only one social responsibility of business – to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to stay, engages in open and free competition without deception or fraud” (Friedman, 1970). As one of the most influential economic scientist in the 20th century, Milton Friedman did this statement 41 years ago. In the last three decades the world economy went through a large change…
it is not a utopian dream for a company anymore to come across as socially responsible while at the same time, make profits on the way. Corporate social responsibility (CSR) if incorporated in the way a business is run, it becomes the normal course of business which benefits one and all. But, is it always so in black and white? The lines get blurred when a corporate wants to derive some tactical advantage out of its CSR activities. When a business incorporates CSR as part of its core business strategy…