How relevant is CSR in todays business agenda?
Corporate Social Responsibility is described as being a company’s ethical, economic, environmental, social and legal attitude towards its stakeholders in order to establish long-term success (Crane at el, 2008). These issues have come to have an important role in the running of a business in recent years. CSR was developed over a number of years and has been researched by professional economists. There are many arguments in favour of and against the CSR strategy. A company that adopts and operates the CSR can gain control over a variety of sectors, including shareholders and stakeholders. In brief, businesses can generate maximum profit and reduce potential risk by adopting the CSR strategy in the long-term. This essay will discuss the benefits, risks and different approaches of CSR within a business context. In addition, several case studies will show the effect of the implementation of CSR and provide a framework for running a business, increasing revenue, sustaining growth and surviving in the market.
Beesley, M., Evans, T. (1978). Corporate Social Responsibility. Croom Helm Ltd.
This source explains the positive aspects of Corporate Social Responsibility. Michhael Beesle and Tom Evans explore the beneficial aspects of the process of CSR from a social perspective. These social strategies may increase motivation and brand loyalty from workforces.
Blowfield, M., Murray, A. (2011). Corporate Responsibility (2nd edition). Oxford: Oxford University Press.
The theories in this book, as resources, are more problematic for smaller business to adopt. This book outlines the realistic limitations of small businesses who adopt CSR and shows the benefits. Blowfield and Murray state in this essay that businesses have a duty to adopt CSR, regardless of their size. Moreover, they suggested that small or medium-sized enterprises could implement the CSR strategy such as supply...
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