Introduction 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. …show more content…
And what’s more the recent case of oil spillage which caused serious problem to the environment in Brazil. (Rain forest action network, 2010). Another example of a company which their report is not the same as their activities on the field is the British oil company called BP. Indeed they say that they are doing the CSR based on what their former president said “ we want to operate in a friendly environment in order of renewable and lasting energy with a genuine concern for the environment “ but this is different of what happened these past years , as a matter of fact in 2010 the release of oil in the gulf of Mexico damaged almost everything near the coast , people lost their jobs, some of the species who were living there died, and still now there is a problem of cleaning the water in the gulf because it has been pollute. So based on this example we can ask ourselves if there is a real CSR in BP and CHEVRON’s operations when they cannot control the dangerousness of their activities and be more careful about their effects on people and the environment. community | Chevron | Kellogg’s | | * promote small enterprises where it invest about 25$million * create new jobs and train employees, like in Luanda (Angola) about 143 new jobs were created in 2010 * In education , 2000 students
Corporate social responsibility (CSR) is a broad term used to describe a company's efforts to improve society in some way. These efforts can range from donating money to non-profits to implementing environmentally-friendly policies in the workplace. CSR is important for companies, non-profits, and employees alike.
Corporate Social Responsibility (CSR) encourages companies to take interest of all stakeholders into consideration during their decision-making process and not make their choices based solely upon the interest of their shareholders. By bring socially responsible, the company would make choices that protect social welfare which can have an impact on the buying decisions of the customers and building a reputation for the company as to whether the company is trustworthy or ethical.
Corporate social responsibility (CSR) refers to business practices involving initiatives that benefit society (2). CSR may also be referred to as "corporate citizenship" and can involve incurring short-term cost that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change(1).
Corporate social responsibility is a common topic in the world. CSR is a business method that promotes sustainable development by providing economic, social and environmental benefits to all stakeholders. ⑵( Andriof
Oddly enough, Enron had a CSR strategy with a very good reputation for having a strong and well respected corporate responsibility known for generosity to the community and being environmentally responsible. (Sims & Brinkmann, 2003). In hindsight we see that they were playing CSR. Former CFO, Jeff Skilling once told a colleague, “Mike, we are a green energy company, but the green stands for money” (Bradley, 2008). The public should be very cautious when it comes to companies and their CSR efforts as unfortunately some are just
This paper designed to investigate Exxon Valdez oil spill of March 24, 1989, to present general understanding of Corporate Social Responsibility (CSR).
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.
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.
Corporate social responsibility (CSR) is a term used to describe a company’s efforts to improve society in a certain way. These efforts range from donating money to an organization such as a nonprofit organization, to implementing environmentally friendly policies in the workplace. This idea is not required for companies; instead it is something that companies do to improve their communities. The way companies practice CSR is different from company to company, and some companies may not even practice it at all.
In the broadest sense, CSR can be considered, “corporative initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups” (Anonymous, 2014). Another interesting fact that Investopedia included in their definition, that “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”(Anonymous, 2014). However you want to determine the definition of CSR for yourself, it is a step that many businesses have incorporated into their current vision statements, and it has almost become a necessity into today’s
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.
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.
Corporate social responsibility is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company 's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Furthermore, CSR-focused businesses would proactively promote the public interest (PI) by encouraging community growth and development, and voluntarily eliminating practices that harm the public
Factors Nowadays, the more appropriate question needs to be answered is no longer to what extent should a corporation include the society in their business operation but how to do it and use it as the river for organizational success (Epstein et al, 2006). In recent years, ethics and social responsibility have been playing an important role in the business world including in oil and mining industries. The pressure towards society and ethical conducts are higher than ever. Although every oil and mining multinational corporations economic missions are acknowledged, it is now their responsibility also to address public concerns. Oil and mining industries are known as the subject of scrutiny and bad press related with ethics and CSR concerns (Lins & Horwitz, 2007). The interest on CSR and ethics are always fore-fronted to the mining and oil corporations (Kapelus, 2009). The idea was developed since a long time ago, where multinational corporations are demanded to provide community development packages and assistance to their host communities (Amaewhule, 1997). Every business person, regardless their position in the hierarchy, company geographic details or even its products and services are now facing the same challenge which is how to define their corporation role for the society.
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),