A Purpose Beyond Profit Analysis

Corporate social responsibility (CSR) is the ethical behaviour of a company towards society it operates in. It is a commitment to the concern to the society’s sustainability & development.

CSR involves the company acting in a responsible manner. There is saying by Lord Holme and Richard Watts that states, “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 community and society at large.” There are many positive effects or benefits a company can receive if they perform CSR activities. Some of these effects include increased morale, commitment, and a better reputation. Companies may also receive some sort of financial benefit depending on their sales to consumers, who strongly value the Corporate Social Responsibility contributions. Although we know what Corporate Social Responsibility is, how exactly do we determine if the company is socially responsible? Well, ask yourself, “Is if good for the people? Is it good for the environment? Is it good for the business? These are all questions you should ask yourself in order to determine whether the company is socially responsible or

In business world companies are interested in how to maintain or increase shareholder values and profit. So, in order to give something back to the general public, those companies have to assume their responsibilities by being aware of the effects of their activities in the community and take measures to control them because this can affect the community and the environment by polluting the air, destroying the ecosystem, over using natural resources and so on. CSR is often called corporate citizen which means that companies should be good neighbors of the community not to work against it but collaborate with the citizen or the society in order to increase their welfare, to make a community a better place to live.

Let’s start with a detailed examination of the title itself: Corporate Social Responsibility “CSR”. The name pertains to the responsibility corporations carry towards the society due to their unique position of prominence in the daily lives of common man. Corporations are formed with a feature that characterizes their very foundations which is people’s stake in the performance of the company and, in turn, the effect that the corporations have on these stakeholders. The most significant and major part of these people are the shareholders who have invested their hard-earned money in the corporations of their choice. Besides the obvious monetary and financial returns that the investors expect from these corporations, people want the company that they have invested their money in, to be socially responsible. With increased climate change, global warming and other fatally disastrous effects of pollution and different harmful practices adopted during the manufacturing, packaging or supply of products, the public gives more value to the corporations with a proactive, deeply interested and positive outlook on the matter of their social responsibility. A company seriously concerned for the well-being of the people, the surroundings in the periphery of its impact and the side-effects its pursuit of profit maximization can have on these surroundings and

CSR Stands for: The Corporate Social Responsibility means that any company has the responsibility toward the community such as any social organization, more you work on CSR the more you will build trust and sustainable relationship with people.

CSR is everyone’s business. Corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefit society, Liz Maw, CEO of nonprofit organization Net Impact, noted that CSR is becoming more mainstream as forward-thinking companies embed sustainability into the core of their business operations to create shared value for business and society (Fallon).

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

There are many definitions to Corporate Social responsibility(CSR). One most common definition is that CSR is the consideration and response of the firm to issues that are beyond the regular technical, legal, and environmental requirements of the firm. From this definition we can observe that CSR is voluntary and includes social and environmental information. As for the CSR reports their job is to explain and discuss the CSR of a particular firm by publishing

There are many different concepts of CSR as well as practices. Depending on the business philosophy it can be implemented in various fashions. The goal of CSR is work toward a positive lasting change towards sustainability. Like financial controls and human resource management, corporate citizenship is integral to keep a business heavy.

Snider, Hill and Martin. (2003) stated that “ CSR may be defined in general terms as "the obligation of the firm to use its resources in ways to benefit society, through committed participation as a member of society, taking into account the society at large and improving welfare of society at large independent of direct gains of the company" (as cited in Kok et al., 2001, p. 288). Since the growth of the corporations depend on the societal factors, corporations should be responsible for the society for the corporation’s own benefit in the long run. “The Corporate Social Responsibility (CSR) construct describes the relationship between business and the larger society” (Snider et al., 2003). According to The Wall Street Journal (2013),

The term Corporate Social Responsibility (CSR) refers to the responsibilities that modern business organisations have to create a healthy and prosperous society.

Corporate social responsibility (CSR), otherwise called maintainable capable business, or corporate social execution, is a type of corporate self-regulation coordinated into a plan of action. In a perfect world, CSR approach would work as an inherent, automatic component whereby business would screen and guarantee their adherence to law, moral gauges, and international standards. If you are reading this introduction, chances are you work in your company’s department for community relations, corporate communications, public affairs, public relations, environmental stewardship, corporate responsibility, or corporate citizenship. In any case, it is pretty much as likely that you are a promoting administrator or an item supervisor, have obligation regarding some part of corporate charity, or are on staff at a corporate establishment. Then again, you may work at a publicizing, advertising, or open undertakings firm and be looked to for exhortation by your corporate

CSR stands for Corporate Social Responsibility. Corporate Social Responsibility (CSR) is defined by many groups like, Tata steel, Coca Cola, Reliance, Videocon etc. Although they all stand for similar meanings connecting to taking responsibilities of the society as a business individual, its definition has been getting broader from a established point of view, corporate social responsibility is a type of business instruction included in a business demonstration. CSR policy functions as a self-regulatory system whereby a business monitors and ensures its active consistency with the strength of the law, ethical standards and global norms. CSR aims to hold responsibility for corporate actions and to support a positive impact on the surroundings and stakeholders including clients, workers, investors, communities, and others. Corporate Social Responsibility (CSR) has been a growing subject for last two decades. It had been developed in US and Europe simultaneously from many years. Since the beginning of the new concept, global companies adjust their policy of conduct and moral rules to be able to establish the relation between their stakeholders that they are a responsible business article and that the profit given back to the shareholders are not from immoral practices. CSR involves multiple stakeholders, including the government, shareholders, employees, consumers, media, suppliers, NGOs, and the general public and volunteerism to doing the business in a responsible way.

There are now several concepts of CSR and its definition, along with the meaning across corporations. In my opinion, and according with our textbook in page 11. CSR is about a particular set of business and strategies that deal with social issues. In addition, we can clearly perceive that CSRs application along corporations has increase in the past decade due to the several local, and international regulations in order to enforce business to act responsible.

CSR s abbreviation for "CORPORATE SOCIAL RESPONSIBILITY". By this the first thing that comes in our mind is ' A Corporation or a company that is responsible socially or which is concerned with the environment not only with its profit. If typically explained it is the step that a company takes to benefit the society. It is to show that we are concerned with the environment and we do care. Now a days, relationships with customers are made on the basis of loyalty towards them by showing them, that the company is more concerned about them as they want the environment safe. In this way the company show this there responsibility to benefit and sustain the environment socially. “CSR is a process to achieve sustainable development in societies”