Should companies engage in Corporate Social Responsibility programs Why or why not - Essay Example

Add (Add (Add Corporate Social Responsibility Corporate Social Responsibility (CSR) is a thought developed by business giants to promote an integrated mission consisting of a set of principles regarding the compliance of the business operations with the law of the land, ethical standards and international commitments. The ultimate purpose of CSR is to safeguard the prestige of the corporate identity of the organization with larger scope of public interactions meant for making the business to be more socially responsible for the sustainable growth by claiming trust among the non market stakeholders.

All the efforts of the companies meant for this purpose meet the merit of bringing up positive results as they reflect on improved concerns for environment and the public as a whole. The essence of CSR is growingly promising as the world market turns rapidly competitive with the inevitability of consideration for global communities in the wake of emergence of multinational companies in corporate business. Whether companies should engage in corporate social responsibility programs is a one-sided debate in which there can possibly be no opposition.

In recent years, many CEOs and heads of major corporate business groups identify that ‘a strong CSR program is an inevitable thing’ for achieving effective business leadership (“Corporate social responsibility..”). However, it is a challenge before many companies to meet the global social responsibilities on par with the struggle for excellence in achieving the traditional goal of economic profit. In this regard, according to a thought of Lawrence and Weber, social responsibility requires companies to balance the benefit to be gained against the costs of achieving those benefits (46).

As such, the managers of the organizations are responsible for meeting the desired fields of credit for both the owners of the business and the consumers of the product of the company without letting the firm any decrease in its profitability. From every angle, the stability of a company is guaranteed by the willingness of its employees to offer optimum worth to it. It is also undoubted that they chose to work in a company that claims high regards of social reputation. As Lawrence and Weber point out, social reputation is a major intangible asset that adds to the organization’s wealth (53).

With days passing, the thought of business giants changed from merely making profit to being committed to social responsibilities as the majority of world population wanted their basic needs to be attended by the rich. As a result of the idea, a large number of corporate heads turned philanthropists and started working for the activities related to health, education and social welfare of deserving class of people across the globe. To name a few, ‘Bill & Melinda Gates Foundation, Ford Foundation, Gordon and Betty Moore Foundation’ etc.

are the table toppers among the U S corporate owners (qtd in “Donors to Latin American…”). On the other end, every country has legislative norms to see that the principles of CSR are scrutinized by state laws – recently the U S has made an example with its raising number of case files against Microsoft’s violations of Antitrust Codes wherein the company is liable for misusing its monopoly in the software market. In a conclusive assumption, it can be restated that enterprising corporate social responsibility programs is a present day requirement for every business in the wake of globalization.

As this concept is the basic guideline, business organizations are responsible for ensuring extensive care for social wellbeing. As long as they realize that a pleasant and transparent world is the best market for their products, they ought to follow all the responsibilities towards the entire world.Works Cited “Corporate social responsibility.” Asian-Oceanian Computing Industry Organization. ASICIO Policy Paper. (2004): 1-5. Web. 13 March 2012. “Donors to Latin American and the Caribbean civil society.” AVINA. (2010): 1-15.

13 March 2012. Lawrence, Anne T and Weber, James. Business and Society: Stakeholders, Ethics, Public Policy. New York: Tata McGraw- Hill Companies, Inc, Edn 13 2011. Print.