Essay about The Meaning of Coroporate Social Responsibility

In my paper I will be discussing the topics related to corporate social responsibility. Corporate social responsibility (CSR, also called corporate responsibility, corporate citizenship, and responsible business) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and

Businesses, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social

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.

Findings were presented after analyzing the data of the correlation coefficients between the percentage responses in each category and the cultural dimensions and the distribution of responses across five dimensions. Finally the discussion and conclusions were given, with summarizing some implications of the results for CSR strategies of managers and firms operating in cross-cultural contexts.

Growing competition and the ever increasing emphasis on cost reduction and efficiency has caused many firms to outsource various components of their operations outside of the country. As firms are thrusted into the global marketplace and transformed into multinational corporations (MNCs), new challenges arise related to the differences/disparity in corporate social responsibility (CSR) practices between countries (Chandler & Werther Jr., 2014; Cruz, 2013). Globalization has increased companies need to consider the importance and strategic value of CSR (Chandler & Werther Jr., 2014; Cruz, 2013).

Corporate Social Responsibility (CSR) and its extent has always been a practice usually dictated by the owner or the major stakeholders but in today’s world of infinite connectivity and social media, reputation can make or break a corporation.

CSR manifests itself in many different ways. Businesses need to be aware of their commitments to all their stakeholders – customers, their community, suppliers, employees and, more grandly, the environment in which they

Through globalization the gap between the rich and poor has increased, while the rich get richer, the poor get poorer. This can be one of the many reasons why companies choose to be more social responsible as CSR aims to reduce conflicts between stakeholders. Although, individuals are aware that more companies are producing social responsible goods, companies can benefit from CSR practices in different ways. When companies decide to be socially and environmentally active, not only will the society and the environment benefit from the companies ethical practices, but they can also differentiate themselves in today's competitive market.

The CSR achievement of Japanese firms has been limited to certain areas such as environmental responsibility and the work

One notable example of an organization that adopts significant CSR initiatives from a developed country is Starbucks which is an American multinational corporation. On the other hand, a considerable example of a company with significant CSR from a developing country is China Mobile which is still in its global expansion stage. The China mobile company is a Chinese multinational corporation. The two different companies offer an effective platform for comparing the CSR understanding and initiatives of different organizations from the developed world and from developing countries. What makes the examples even more effective is the fact that the two companies are different stages of development in the global business environment. This makes it

Different scholars and professors have defined CSR or Corporate Social Responsibility in many ways. Generally, CSR includes the responsibilities that businesses hold towards the societies they carry their operations in (Cadbury, 2006). The European Commission defines CSR as “a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment.” A more specific definition of CSR explains that businesses must identify their stakeholder groups and understand their needs and values and take those values into their operational and strategic decision making process (Cadbury, 2006).

4. “CSR is only relevant for large private sector companies.” Critically discuss providing examples from SMEs, the public and civil sectors.

The concept of CSR was initiated in the 1950’s in USA but it became established in early 1970’s. That time USA was facings social problems like Poverty, pollution and unemployment, also the huge fall in prices of Dollar. During 1980’s to 2000, corporations recognised and started accepting a responsibility towards society. Corporate social responsibility (CSR) is to focuses on the wealth creation for the optimal benefit of all stakeholders – including employees, shareholders, environment, customers, environment and society. CSR refers to the

The analysis indicated there are some differences in the ways the organisations of both the countries are currently practicing their CSR activities. Although the focus areas of CSR activities in both the countries are quite similar, there is a major difference in the way they have carried out the practice .In Bangladesh the main focus areas of CSR are education, health, underprivileged child and youth development, sport and environment where as in New Zealand the focus areas are environment, community development, quality of life, health and safety.

According to Kimber and Lipton, (2005) one cannot think CSR with similar programs and policies in different region, as Asian countries differ considerably in the level of economic development, legal development, political development of the system and the cultural norms. Chapple and Moons’ (2005) mentioned that it is assumed as a function of social and economic development in context to emergence of CSR. There is a mass number of observer who have noted that the Asian firms generally lag behind the western counterpart firms in many facet of CSR Ang, (2000) KPMG, (2005) Welford, (2004) with this said the second supposition comes into context which is CSR is reliant on development in Asia, there is a