Aetna Social Responsibility

Firstly, I would like to explain what Corporate Social Responsibility is. “It is a company’s sense of responsibility towards the community and environment (both ecological and

Corporate social responsibility “refers to business practices involving initiatives that benefit society” (Caramela, 2016). Categories of social responsibility can be environmental efforts, philanthropy, ethical labor practices, or volunteer work. Organizations need to be more socially responsibility than ever before in order for their businesses and the world to be able to have maximum sustainability. "Sustainability isn 't just important for people and the planet, but also is vital for business success… Communities are grappling with problems that are global in scope and structurally multifaceted — Ebola, persistent poverty, climate change. The business case for engaging in corporate social responsibility is clear and unmistakable” (Caramela, 2016). Corporate social responsibility is becoming a major priority for strategic development by corporations around the world. Management needs to take great care in understanding the relationship between the activities of their organizations, customers, the community, the government, the environment, and employees.

Every company has a responsibility to support the society it serves. This indicates that a company that wishes to truly thrive in a market should not just follow the business and consumer laws of the country but take an active interest in the community that it serves in each country. Today’s global market is led by companies that concern themselves with the sustainability of the company and its products, as well as the continual improvement of the

Company Q’s attitude toward social responsibility reflects a negative reputation on them as a corporation in their current community. The geographical location in a major metropolitan area should sustain the business with a solid consumer base and maintain reliance of current investors. However, they closed two stores in high crime areas for consistently losing profits, waning investor trust and damaging employee faith. The decision to close the stores limits their ability to be socially responsible to its stakeholders and potentially contributes to the areas crime level.

Corporate Social Responsibility are actions taken by a corporation that have positive and lasting impact for all stakeholders associated with the organization, seeking to strike a balance between profits and helping to establish lasting investment in the community (Carrol, 2015). In the 1980’s, then President Reagan challenged the business community to take on more responsibility to address social problems (Carrol, 2015). Socially responsible actions can benefit local communities as well as the greater societal good.

Corporate Social Responsibility (CSR) is something that affects all companies and should be an active factor in the company’s decision making. It is something all corporations need to care about. CSR is when business’ or corporations take part in an initiative or campaign for a cause that will benefit society and/or in some way make the world a better place (Taylor, 2015). Initially, Corporate Social Responsibility started to take shape around the 1950’s, but some say that it dates all the way back to the 1800s, the idea of CSR was seen (Carroll, 2007). One may think that because it is dated so long ago, it doesn’t have an important impact today nevertheless, it is proven that Corporate Social Responsibility is a pathway for entities to self benefit as they are in the process of benefitting society.

Corporate Social Responsibility can be defined as a company’s social performance and the impacts of the company on its internal and external stakeholders, including: customers, suppliers, employees, communities, government and the environment". ***

Through Corporate Socially Responsibility, a company voluntarily operates the corporation economically, legally, ethically, and philanthropically. The organization makes sure that each employee is critical and running operations morally. Most companies that operate in this manner tend to be quite successful because if the company were to manage irresponsibly, it would affect the business tremendously. Engaging in Corporately Social

Corporate Social Responsibility, More Than Charity Work an article written by Don Wehby where he stated that “all companies have obligations to the society and environment in which they operate that go beyond simply following the law”. The responsibility of social development is a share responsibility of government, citizens and the businesses that operate in these communities. According to Investopedia.com social responsibility is the idea that businesses should balance profit-making activities with activities that benefit society; it involves developing businesses with a positive relationship to the society in which they operate. The relationship to the society and environment in which businesses operate is a critical factor in their ability to continue to operate effectively. It is also increasingly being used as a measure of their overall performance.

Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades, however, it has become of increasing concern to the business world. This has resulted in growing interaction between governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. “Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions” (Anderson 15). This paper will discuss the concept of corporate social responsibility. It will give the definition of the phrase, and identify some of the global factors that necessitate corporate social responsibility. It will discuss the importance of corporations setting up corporate social responsibility projects, and the impact these have on society. Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all business.

Corporate Social Responsibility is the continuing assurance by the business world to contribute to economic progress while improving the quality of life of the employees and their families as well as of the local commune and society at large. Different organizations made various definitions, although there is considerable common opinion between them. Corporate Social Responsibility is, how organizations manage the business plans to produce an overall constructive impact on society. It is essentially a concept where organizations decide to contribute voluntarily to a better society and a cleaner environment. Organizations consider themselves as an essential part of the society and act in a socially responsible way. Earlier it was viewed as a philanthropic activity but it is now viewed to be an inclusive, broad, diverse and integral part of business strategy to reduce the business risks related to uncertainty.

Social responsibility (CRS), corporate social responsibility is one of the most significant facets of a company because it is their duty, their actions, their strategic plan that is engrafted into their culture or their business model that will cause an impingement on the decisions and the activities on society (Lussier & Sherman, 2013). Social responsibility is an act that helps corporations like ITC monitor the public, consumers, community and their employee’s responsibility. Therefore, according to ITC Ltd, they CRS policy articulate a strategic content, far beyond financial profits, but to produce game-changing programs that generate livelihood, creations and environmental replenishment as their normal conduct into their strategic business plan (About ITC, 2017). Social responsibility develops a positive relationship with the employees, and society, which makes people proud to be part of that organization. Even though ITC’s profit is one of the contributing factors in India’s economy; ITC tries to keep their stakeholders, customers, and employees in mine, as they strive to do their best to integrate the importance of corporate responsibility while implementing ethical and moral decisions.

Corporate social responsibility is the voluntary stance or set of actions from a corporation that demonstrate a contribution to a better society and a cleaner environment. Corporations are already required to operate within the law, but laws do not always protect all people or individuals who will be affected by the corporation’s actions. In addition to this, it is very common for special interests to play a part in legal decisions through lobbying efforts, so it is assumed to be an additional effort for a corporation to be socially responsible. Being socially responsible essentially comes down to being considerate and calculated in the decision making process, paying attention to the consequence of every action. In the ethical decision making model, there are two particular steps that I believe to be of greater importance than the others. The first would be that of

Corporate Social Responsibility is define as intended actions of an organization that changes its company process to operate in an society, environmentally and feasible way which affect the community development and human rights.

Corporate social responsibility’ ‘how companies manage the business to produce an overall positive impact on society’’(lecture), so it how companies do something positive for society without take something in return. We can also say it is a practice with the purpose to hold responsibility for the company's actions and inspire a positive impact through its activities on the environment.