Corporate Social Responsibility

Good Essays
Corporate Social Responsibility
CSR is a win- win opportunity for companies, financial investors and society at large * Corporate Social Responsibility * “CSR is about how companies manage the business processes to produce an overall positive impact on society.”
Business has a responsibility to give it back to society * Corporate Social Responsibility
Corporate social responsibility (CSR): * An obligation, beyond that required by the law and economics, for a firm to pursue long term goals that are good for society. * The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as that of the local community and society at large.
Meaning of CSR * Conducting business in an ethical way and in the interests of the wider community * Responding positively to emerging societal priorities and expectations * A willingness to act ahead of regulatory confrontation * Balancing shareholder interests against the interests of the wider community * Being a good citizen in the community
Definitions:
‘Corporate,’ ‘Social,’ and ‘Responsibility.’ In broad terms, CSR relates to responsibilities corporations have towards society within which they are based and operate, not denying the fact that the purview of CSR goes much beyond this. CSR is comprehended differently by different people. “A commitment to improve community well being through discretionary business practices and contributions of corporate resource”
Millen Baker: “A way companies manage the business processes to produce an overall positive impact on society.”
World Business Council for Sustainable Development: “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local

You May Also Find These Documents Helpful

  • Powerful Essays

    Research paper CORPORATE SOCIAL RESPONSIBILITY/PHILANTROPY A CASE STUDY OF KENYA AIRWAYS Presented to DR. MAGETO By CHRISTOPHER TARUS 09-0478 Date 07TH APRIL 2010 Table of contents Introduction............................................................................................................ 3 Corporate Social responsibility................................................................................4 Good citizenry..............................…

    • 2683 Words
    • 11 Pages
    Powerful Essays
  • Good Essays

    Corporate Social Responsibility Corporate social responsibility is an obligation beyond the law requirements, for a company to pursue goals that are beneficial to the society in one way or other. It also refers to the commitment and dedication of a firm to contribute to the society’s economic development for the betterment of the community. Definition According to Kotler et al (2005, pp.3), “Corporate social responsibility is a commitment to improve community…

    • 491 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Social Report is now essential for business Introduction The corporate social responsibility (CSR) reports are used in annual report of the company; expressing how caring they have been over the last financial and how they intend to continue to be in the future. One of the most significant corporate trends of the last decade is the rapid growth in activities associated to corporate social responsibility (CSR). According to Business for Social Responsibility (BSR), CSR is defined as “achieving…

    • 1575 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    performance from them through effective and efficient management (1997). On the 1920’s a man named Frederick Taylor known as the father of scientific management who described management as a science with employees having specific but different responsibilities; encourage the scientific selection, training and development of workers and equal division of work between workers and management thus sparking an important evolution to the business world making a dramatic increase in productivity (Estrada)…

    • 5100 Words
    • 21 Pages
    Good Essays
  • Good Essays

    Corporate social responsibility(CSR) is the corporation 's way of giving back to the community. This research paper will discuss and analyze the benefits and problems of corporate social responsibility to see if the community is really benefiting from it or if it is just one of those things the corporation has to do to get credit on their tax return or as check mark. This paper will also discuss the incentives for company to engage in CSR ,how consumers responds to CSR and their expectations from…

    • 1190 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    CORPORATE SOCIAL RESPONSIBILITY The term social responsibility means different things to different people. Generally, corporate social responsibility is the obligation to take action that protects and improves the welfare of society as whole as well as organizational interests. According to the concept of corporate social responsibility, a manager must strive to achieve both organizational and societal goals. Current perspectives regarding the fundamentals of social responsibility of businesses…

    • 1373 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Mushtaque Ali Jariko, PH.D student, Aalborg University, Denmark. ABSTRACT: The role of business in society has been debated in economic literature for a long time. Corporate Social Responsibility requires companies to acknowledge that they should be publicly accountable not only for their financial performance but also for their social and environmental record performance. More widely, CSR encompasses the extent to which companies should promote human rights, democracy, community improvement and sustainable…

    • 7707 Words
    • 25 Pages
    Powerful Essays
  • Satisfactory Essays

    Corporate social responsibility is a company's obligation to be responsible to all of its stakeholders in all its operations and activities with the aim of achieving sustainable development not only in the economical component but also in the social and environmental dimensions company's stakeholders are all those who are influenced by and can influence a company's decisions and actions, both locally and globally. Business stakeholders include employees, customers, suppliers, community organizations…

    • 491 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Corporate Social Responsibility (CSR) is a very controversial topic. A question that has been debated for the past few decades is; is it corporately viable to introduce social responsibility as a proposed addition to the work ethic of business organisations. As well as, if adopting the framework of corporate social responsibility would yield positive improvements for those organisations. The purpose of this essay is to research the notion of CSR and uncover its true framework and outline what social…

    • 2543 Words
    • 11 Pages
    Powerful Essays
  • Powerful Essays

    Corporate Governance Emerald Article: Corporate socialresponsibility and labor turnover Donald F. Vitaliano Article information: To cite this document: Donald F. Vitaliano, (2010),"Corporate social responsibility and labor turnover", Corporate Governance, Vol. 10 Iss: 5 pp. 563 - 573 Permanent link to this document: http://dx.doi.org/10.1108/14720701011085544 Downloaded on: 09-11-2012 References: This document contains references to 22 other documents Citations: This document has been cited…

    • 6696 Words
    • 27 Pages
    Powerful Essays