Corporate social responsibility makes it clear that it is certainly unethical for these corporations to be making profits at the expense of the environment and other aspects of the human life. 31/10/ · $ for a 2-page paper A company is described to accomplish social responsibility if there is a balance between social welfare, environment, and economic 26/10/ · 1. Corporate Social Responsibility has recently become very valuable for modern business. Companies’ leaders started to realize that CSR might bring the same, or even
Corporate Social Responsibility Essay- Free Sample For College Students
Businesses will engage in corporate social responsibility actions for various functions. Well, by strategically practicing corporate social responsibility, a company can both make profits and the world a better place at the same time. Community based projects, giving aid to local organizations and poor communities in developing countries are some approaches applied in corporate social responsibility. A company may engage in community activities for the sake of solving a crisis but ends up realizing an additional source of profit and value to its product and services. As a result, this helps to attract and retain various stakeholders. In addition, employees of such a company attain personal and professional growth, and customers are also attracted.
The essay seeks to explore the issue of whether pursuing corporate social responsibility is of benefit to an organization, essay on corporate social responsibility not. Based on these ethical values, a business can differentiate its brand, giving itself a unique selling platform in an otherwise competitive market by merely building a reputation for integrity and best practice. A good business is naturally sensitive to new market trends, essay on corporate social responsibility, innovation and responsive to markets. A socially responsible business is more likely to openly accept feedback from stakeholders, essay on corporate social responsibility, consumers and retailers and essay on corporate social responsibility doing so, it is likely that ideas on new products, procedures and markets are circulated.
Consequently this accords the company in question a competitive edge. While advertising for their products, businesses are likely to point out the environmental and social benefits attainable. For instance, an oil company might talk about the benefits of using unleaded petrol, essay on corporate social responsibility, or wind turbines. Essay on corporate social responsibility further accords such a company a selling point though their goal was initially social responsibility. Local community- related activities attract positive press coverage which goes a long way into cementing a good reputation. The end result of all this is a loyal customer base as well as building new markets.
Customers are mainly attracted to socially responsible companies. On the contrary, businesses that perform poorly can damage their brand name and reputation when exposed Taylor,1. A socially responsible business has a better human resource tradition, implying attraction and essay on corporate social responsibility retention of employees. It is normal for human beings to want to do well and feel gratified when their work has a positive impact on someone else, which explains why most people will want to work for socially responsible companies. Of equal magnitude is the fact that employees in these businesses have increased commitment, performance and job essay on corporate social responsibility because they are involved in decision making and they own the business as well.
When employees are retained they reduce costs and disruption related to training and recruitment gain for the business Potts,p. Socially responsible organizations boast of better risk managers. These businesses have taken time to build their enviable reputation and would not be willing to jeopardize it through negative attention like environmental accidents and scandals. A business interested in the impact of its activities to the community, environment and economy exhibits a prudential way of anticipating and managing risks. They often have adopted that culture of doing things right. This also equates to good relationship with local authorities that also enhances business. Governments have realized that their sustainability goals are attainable solely through increased engagement in the business sector.
Some governments are actually using CSR indicators to rule on export assistance contracts and procurement, a measure that is advantageous to CSR conscious firms. This has seen businesses with sensible CSR modalities having good relations with regulators. They have better ability to address change because of their regular interaction with stakeholders which enables them to anticipate potential change on economy, society and environment US Chamber of Commerce,p. CSR is a big attraction essay on corporate social responsibility investors and financiers alike and its prowess is a reflection of good management and positive reputation to a potential investor or financier of a business.
As far as the supply chain is concerned, there is the possibility of building effective and efficient ones. Businesses with long-term relationships can help each other reduce risks, like the larger ones can stimulate essay on corporate social responsibility smaller ones to implement a CSR approach in their dealings. Potts,p. CSR in a business comes with considerable operational efficiency and cost saving. This is as a result of awareness attained from relationships made and activities participated in which bring forth innovativeness and subsequent means of cutting costs Thomas,p. There is the need for businesses to adopt CSR activities not only out of goodwill but also as a way of improving their turnover.
A survey in the U. S chamber of Commerce conducted in the late was in agreement that companies need to make corporate social responsibility a priority US Chamber of Commerce,p. Firms have reported reaping huge benefits from their corporate social responsibility initiatives like positive media attention, community and customer satisfaction, to mention but a few. In his speech at the launch of the U. K Network of the UN Global Compact website, in DecemberDr. Kim Howells stressed on the essentiality of responsible business in driving sustainable development, essay on corporate social responsibility, tackling climate change and even preventing and resolving conflict Potts,p. It is all a reminder that corporate social responsibility is of great value to any business, not only as a humane act or the profits to be gained but also for the future and sustainability of that business.
Potts, J. Corporate Social Responsibility: An Implementation guide. Winnipeg: International Institute for Sustainable Development. Taylor, D. Thomas, T. Corporate Social Responsibility. One of the best students granted us this essay, so that we share it with you. Are you the author of this work? Did you change your mind and wish it to be deleted from NerdyRoo? Contact us here. NerdyRoo Business Corporate Social Responsibility. Reference Boddy, D. Harlow: Pearson Education. d Business Link. S Chamber of Commerce, ManTech Corp. Anti-Bribery Law in the USA. How to Cite This? Choose the style. Select citation styles APA-6 MLA-9 Chicago N-B Chicago A-D Harvard. Reference NerdyRoo.
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What Is Corporate Social Responsibility (CSR)?
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Corporate social responsibility makes it clear that it is certainly unethical for these corporations to be making profits at the expense of the environment and other aspects of the human life. Living Dangerously in Two Worlds In my paper I will be discussing the topics related to corporate social responsibility. Corporate social responsibility (CSR, also called corporate responsibility, 28/08/ · Corporate Social Responsibility is the responsibility of businesses to uphold social justice, human rights, and environmental protection. It can be seen as a way for
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