A Pragmatic Alternative for Creating a Corporate Social Responsibility Strategy

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A Pragmatic Alternative for Creating a Corporate Social Responsibility Strategy

By Dina Gerdeman
28 MAY 2012  RESEARCH & IDEAS :
http://hbswk.hbs.edu/item/6994.html

Abstract:
Corporate social responsibility (CSR) is a corporate initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare. CSR may also be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change.  This assignment summarizing good work done by Professor "Kash" Rangan and colleagues offer a pragmatic solution for CSR. First, article highlight the main problems most of companies face when they apply CSR strategies also what is the theatres most companies face when exploring CSR.. After that the article will talk in details about the right way to do CSR. The article then emphasize on the reasons of companies should have to engage on CSR. It explain what kind of ideals fits each company. After that, the article shows examples of right approached done by big organizations like coca –cola and Microsoft. Nike also given as example of a failed case for CSR. Finally, the article shows that profit doesn’t not always follow and companies should not put strategies based on assumption that the profit will always follow. Finally, I will conclude by my opinion about the article and what is missing that will contribute in success of CSR program.

Summary of the article
1: Companies main reasons for CSR failure:
The article indicate that majority of organizations fails in doing CSR the right way. That because their lack a cohesive CSR strategy. The article describe in details what is the common process most of the companies follow while doing CSR. Usually CSR efforts might begin by executive idea or initiation or through the efforts of employees after that those ideas ramble in various...
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