Nobody downloaded yet

Corporate social responsibility and its theoretical foundations. Australian firms and CSR - Essay Example

Comments (0) Cite this document
The term Corporate Social Responsibility though a invention of few decades back but has existed in various forms from the earliest days of businesses. Companies manipulate their businesses processes and go one step ahead then the industry to create a positive impact on the society…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.2% of users find it useful
Corporate social responsibility and its theoretical foundations. Australian firms and CSR
Read TextPreview

Extract of sample
"Corporate social responsibility and its theoretical foundations. Australian firms and CSR"

Download file to see previous pages The term Corporate Social Responsibility though a invention of few decades back but has existed in various forms from the earliest days of businesses. Companies manipulate their businesses processes and go one step ahead then the industry to create a positive impact on the society. Corporate social responsibility of companies can be viewed in two general ways Companies share and invest their income for the benefit of the society. Companies follow the industry standards or apply best practices in their business as to be more responsible and ethical. To understand the basic concept behind CSR we have to learn what binds an organization to be socially responsible. Every organization has stakeholders which exist at all levels of business operations and are major contributors of the business. The company has to show its competency and loyalty to its stakeholders and the community that the business is not only concerned solely with the expansion and betterment of the business but it is also keen and responsible in contributing towards the growth and betterment of its stakeholders and the society it operates in. As a gesture of company’s conviction and dedication, they engage themselves in such activities which in some way will help in the prosperity of the society and will leave an everlasting impression on those they helped. Also at the same time they can include such policies and practices into their business which portray the company’s business processes as more ethical and morally correct. Concept and Benefits Social responsibilities of corporations comprise of ethical and managerial principles to guide a business enterprise. This is because it deals with everything from corporate image, public relations, environmental liability, lawsuits, relations with governments and worker morale. These corporate responsibility principles are guided by another set of principles. The first and the basic principle is that the firm’s or company’s product raises or enhances the quality of life. Three basic types of processes are identified to implement corporate responsibility principles. They include of environmental management, issues management and stake holder’s management. (Gail Thomas, 2006) Number of factors drive the corporate responsibility trend. One major factor which make organizations more socially responsible is that companies which do not engage in CSR activities might be viewed as those who are only interested in the growth and expansion of their business and are not at all concerned with the betterment of their various stakeholders and the society. Hence ruining the image of the corporation in the mind of people which is a serious risk for business. On the other hand the benefits of CSR for corporations are limitless. Although the benefits would not be monetary directly instead would require investing in quite heavy amounts but in return the corporation earns a position of a reputable contributor to the society enhancing the brand image, employees will have more dedication to work for a company who works for mutual benefit of the society and the stakeholders especially the investor’s would be more confident. Australian Firms and CSR There are a lot of Australian companies who are listed amongst the more socially responsible organizations. BHP Billiton , Telstra, Rio Tinto , Pacific Hydro , Arup Australsia and many other corporations. BHP Billiton is Australia’s largest firm by market capitalization. It employees over 40,000 people all over the world which makes it rank amongst the largest mining companies in the world. As it is the largest firm in Australia and has global operations so it has engaged itself in many socially responsible activities and made it a priority so as to maintain the trust and confidence of the stakeholders and investors. Various socially responsible initiatives has been taken by BHP Billiton which have contributed greatly to well being and uplift of Australian society and also in other countries where its operating. Along with initiatives for the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Corporate social responsibility and its theoretical foundations Essay”, n.d.)
Retrieved from
(Corporate Social Responsibility and Its Theoretical Foundations Essay)
“Corporate Social Responsibility and Its Theoretical Foundations Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Corporate Social Responsibility (CSR)
..., are also highlighted. This display is taken to content the critics and other stakeholders regarding their seriousness towards the interests of social and environmental stakeholders. Despite, spending so much money and time over publishing CSR reports, many critics do not agree and they term it as lip service. To cement their claim, critics point out the Corporate Social Responsibility reports published by Enron, which collapsed as it did not exist ever! Even if a corporation incorporates its obligations towards corporate social responsibility in its...
9 Pages(2250 words)Essay
Corporate Social Responsibility (CSR) in Samsung
...-competitive behaviours cast doubts to the company’s ability to behave responsibly and adopt measures that ensures healthy market engagements and behaviours (Sunday, Emmanuel and Oti, 2012). Nokia has been considered as a leading mobile firm manufacturing company and has also been at the forefront in its corporate social responsibility. Before the introduction of smartphones, Nokia dominance in the mobile telephony market was much more pronounced and most of its products were produced in Finland under the European Union regulations. With such tight regulations, the CSR of the company was assured and this...
9 Pages(2250 words)Essay
Corporate soical responsibility CSR
...Corporate Social Responsibility Introduction Corporate social responsibility (CSR) can be defined as the "economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time" (Carroll and Buchholtz 2003) The traditional view about the objective of any organisation is that the organisation's primary responsibility is towards the owners or shareholders. However corporate social responsibility expects the organisations to take up a larger responsibility that encompasses the interests of not...
5 Pages(1250 words)Essay
Corporate Social Responsibility (CSR)
...16 July Corporate social responsibility Corporate social responsibility is the of integration of the corporate self regulation into the model of a business. It is essentially a business commitment to comply with the standards of ethics and make contribution to the economic development of a nation along with an overall improvement in the standard of living prevailing in a society. CSR builds the capacity of sustainable living. CSR encourages the business personnel to respect the cultural differences and take all possible steps in order to enhance the skills of employees. Thus,...
1 Pages(250 words)Essay
Corporate Social Responsibility (CSR)
...Corporate Social Responsibility (CSR) Contents Introduction 3 2 Part A 3 2 Corporate Social Responsibility 3 2.2 Importance of corporate social reasonability 4 3 Part B 5 3.1 Corporate Social Responsibility of Qantas Airlines 5 3.2 Analysis of the Corporate Social Responsibility of Qantas Airlines 6 4 Conclusion 6 5 Reference 6 1 Introduction The corporate sector witnessed a lot of corporate scandals and other financial crisis like the bankruptcy of...
4 Pages(1000 words)Essay
Corporate Social Responsibility(CSR) the regions where coffee is produced by a company that produces and sells coffee. Likewise, a company that produces oil might take measures for the restoration of habitat in a region that has historically been used for the extraction of oil. In addition to that, many companies add this charitable aspect by donating funds to the charities of their own choice. Another example of a CSR program can be research-based. Honeybees are vanishing rapidly which comes as a potential challenge for the global food chain. Realizing this, Haagen-Dazs resolved to develop a microsite where awareness about this problem can be raised; “The company is donating a portion of proceeds from its Haagen-Dazs honeybee brand to...
2 Pages(500 words)Essay
Corporate social responsibility (CSR)
...critical issues that has plagued the world. More specifically, the paper is aimed at the course of events that are responsible for driving these senior officials to take part in the global compact and become members to the dominant coalition. The second research paper titled ‘Corporate social responsibility brand leadership: a multiple case study’ has been directed towards using existing research and studies that provide frameworks for the analysis of CSR as a tool for brand leadership strategy. The existing literature is supported by a qualitative study of five UK based firms that have a significant market share, successful brand...
8 Pages(2000 words)Essay
CSR - corporate social responsibility
...Corporate Social Responsibility Environmental Minimization Strategies for Mobile Telecommunication Gadget Manufacture: Nokia Siemens Corporation Introduction In recent years corporate social responsibility (CSR) has become an increasingly critical concept in shaping business competitiveness and sustainable development (Business for Social Responsibility, 2009). According to Haigh and Jones (2006), on the basis of generic definitions for sustainable development, it implies a situation whereby a firm combines its economic goals with the...
8 Pages(2000 words)Assignment
Corporate Social Responsibility (CSR)
...Executive Summary The report seeks to present an analysis of the various core characteristics of the corporate social responsibility, the theories ofcorporate social responsibility, the strategic approaches currently used by H & M to fulfil its social responsibilities, recommendation of the further strategies the company should implement, the stakeholder management and the role of H & M in enhancing environmental sustainability. The core characteristics of the CSR are voluntary, price and value, beyond philanthropy, internalizing and managing externalities, special and economic alignment,...
10 Pages(2500 words)Essay
Corporate Social Responsibility (CSR)
...CORPORATE SOCIAL RESPONSIBILITY strategy report al Affiliation) Executive Summary Hennes & Mauritz is one of the biggest retail shops in the world which has established itself to a near monopoly status in the society dealing in cloths. It has spread its reach and tentacles around the globe due to the fact that quality and variety are its benchmarks and irreducible minimums. In the line of business, there are other factors and circumstances that ought to be considered other than the role of making profit and it is the notion of Corporate Social Responsibility. H&M has continues to pursue policies and...
11 Pages(2750 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Corporate social responsibility and its theoretical foundations. Australian firms and CSR for FREE!
Contact Us