Nobody downloaded yet

Research Question: Is corporate social responsibility just a new trend or is it the modern business 'modus operandi' - Essay Example

Comments (0) Cite this document
Summary
1. Introduction The key function of business is to make profit by providing the people with goods and services. In the contemporary environment of cut throat business, its core strategy is invariably focused on meeting the changing preferences of the people through development of new products and services…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.2% of users find it useful
Research Question: Is corporate social responsibility just a new trend or is it the modern business modus operandi
Read TextPreview

Extract of sample "Research Question: Is corporate social responsibility just a new trend or is it the modern business 'modus operandi'"

Download file to see previous pages The dynamic relationship between society and business, thus become the most critical aspect of larger objective of not only national initiatives but also that of corporate world. Indeed, in the highly vacillating environment of transforming values and socio-economic and political paradigms, business outcome is significantly being impacted by its responsiveness to the elements of change. The emerging new model of competitive business has considerably increased risks and responsibilities of firms that need to become more accountable vis-a-vis micro and macro environmental factors that have impact on the socio-economic development of society. The corporate social responsibility has therefore becomes a vital ingredient of modus operandi of modern business. The paper would be arguing that the various factors have necessitated the need to incorporate ‘social responsibility’ within the broader umbrella of business operation for not only competitive advantage but also to serve the society. 1.1 Historical Background John Stuart Mills1 has broadly described economics as a practical science that is linked to production and distribution of wealth. He justifiably argued that economic decisions and policies help create appropriate platform for distribution channels for the needs and desires of the people. The essential principles of supply and demand are based on the requirements of the people which are met by the businesses. Homans2 believed that rational approach of people’s action is dependent on cost and benefit because ‘no exchange continues unless both parties are making a profit’. Thus, businesses were able to exploit human trait for their individual gain. But through the times, the development of society has also been accompanied by evolving database of knowledge that is accrued over time and utilized through its application in all areas of mutual interest. The advancing technology, changing value system and globalization have become few of the major factors that have introduced new challenges for the people at large. The inter-dependency of resources have become highly crucial paradigms that make it imperative for organizations to become flexible and adopt new strategies to address these emerging set of complex issues and ideas. Indeed, the changing socio-economic and political parameters have shifted the focus of corporate strategy towards the changing format of needs and requirements of people. The tangible and intangible needs of the people have become major compulsions to adopt a systematic approach to issues and desires of the people. Consumers have become key parts of corporate strategies which increasingly incorporate the wider ramifications of changing human behaviour. The inter-relationship of business and society is intrinsically linked to business goals and performance. This is critical factor that makes it necessary for business to integrate socially relevant issues within its operations3. Thus, incorporation of responsibility and accountability towards people who are directly or indirectly being influenced by the business has increasingly become part of business processes. 1.1.1 Need for Corporate Social Responsibility in Organizations In the contemporary environment of industrial and technological revolution, the pace of development across the globe has considerably accelerated. The multidimensional and multifaceted relationship of the masses with the emerging new socio-political factors has ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Research Question: Is corporate social responsibility just a new trend Essay”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1414667-research-question-is-corporate-social
(Research Question: Is Corporate Social Responsibility Just a New Trend Essay)
https://studentshare.org/environmental-studies/1414667-research-question-is-corporate-social.
“Research Question: Is Corporate Social Responsibility Just a New Trend Essay”, n.d. https://studentshare.org/environmental-studies/1414667-research-question-is-corporate-social.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Research Question: Is corporate social responsibility just a new trend or is it the modern business 'modus operandi'

Corporate social responsibility and business

...? Corporate Social Responsibility and Business Corporate Social Responsibility and Business Introduction Research Question What are the business issues that arise from corporate social responsibility? In normal circumstances, according to the research study of Banerjee (2007), a business does not subsist in isolation and it is not just a way of making money. This is because the people working in the business depend on it for their livelihood. Suppliers, the local community and customers, are affected by the actions that the business takes. The way the business produces the products and the impact of the product on the environment affect the environment either positively or negatively (Besser, 2002). To answer the research question... on...
6 Pages(1500 words)Essay

Business Ethics Corporate Social Responsibility

...not for profits. It is important for Merck to convince the shareholders that profits can be reaped from the sale of the drug in the long run after people have first gained trust in the new drug. In order to make such a decision, it is imperative for Merck to show other shareholders that the health of the targeted people is more important than the company’s profit oriented goals. 4. Merck would be justified if he decides not to carry out the research about this drug since it would not be safe for human beings. The fact that it can kill parasites in horses does not translate into meaning that it can also be used for the same purpose in human beings. Animals and human beings are pretty different hence it is...
4 Pages(1000 words)Assignment

Research Project : Corporate Social Responsibility

...for betterment of the society are only one step towards CSR. There are environmental, social and economic signifies of CSR, which benefits the organization and the society. With the example of Nestle and Mars Incorporation this fact was also proved CSR integrated companies function on the mission and vision of sustainability and not profitability to become market leaders. References Ataur Rahman Belal, Corporate social responsibility reporting in developing countries: the case of Bangladesh (Farnham: Ashgate Publishing, Ltd., 2008), 125-127. Ella Joseph and John Parkinson, New business agenda for government (London: Institute for Public...
8 Pages(2000 words)Coursework

Research Project : Corporate Social Responsibility

...?Research Project – Corporate Social Responsibility INTRODUCTION Corporate Social Responsibility (CSR) is regarded as widely known approach and incorporated in different companies throughout the globe. It is viewed to be one of the imperative aspects influencing the business of diverse companies by a greater level. The term CSR can be defined as the adoption as well as the execution of different sorts of initiatives by organizations in order to deal with the issues related to environment. It has been apparently observed in this similar background that business operations of different...
7 Pages(1750 words)Research Paper

Is coporate social responsibility just a new trend or is it the modern business 'modus operandi'

...? Is corporate social responsibility just a new trend or is it the modern business 'modus operandi'? Date of Submission The origins of corporate social responsibility (CSR) and its eventual integration into the wider business scenario have been discussed by several authors. The work presented by Carroll (1999) states that the history behind corporate social responsibility (CSR) is extensive and its modern foundations were in fact laid as early as the 1950s.1 Since the emergence of the concept till the present day, a key question that has risen relates to the ideological and theoretical basis of CSR and whether the concept carries any practical implications for modern businesses. Lindgreen and Swaen (2010) claim that CSR’s movement... been...
15 Pages(3750 words)Essay

Business Ethics and corporate social responsibility(new)

.... As such, society as a homogenous whole should be tolerant of the behaviours of others even if they do not share the same cultural sense of ethics (Swoyer 2003). Fleischacker (2011) provides comparative literature addressing business values provided by Adam Smith, who suggested that so long as a business provides value to society and its stakeholders, it is justified in securing, first and foremost, the longevity and profitability of the company. In Western countries, Smith’s sentiment of acceptable business practices and ethical behaviours are satisfied through more contemporary investment in corporate social responsibility (e.g. urban...
12 Pages(3000 words)Essay

Business Ethics & Corporate Social Responsibility

...Running Head: Business Ethics and Corporate Social Responsibility: Cases Analysis CASES: MAPLE LEAF CASE STUDY: AN EXAMPLE OF CRISIS MANAGEMENT Pritesh Patel Professor: Dr. Mark Schwartz Course Code: ADMS3660, C Student No.: 209-586-223 Date: July.28th, 2010 Word Count: 1630 Abstract It is the right of the consumer to use a product without having to worry about any problems that the product may inflict on the consumer. In August 2008, the Canadian food manufacturer Maple Leaf came under close scrutiny after the products the company produced were found to contain Listeria. 22 people died while multiple others suffered serious illnesses. The company immediately suffered a...
5 Pages(1250 words)Case Study

Is corporate social responsibility just a new trend or is it the modern business modus operandi

...Is corporate social responsibility just a new trend or is it the modern businessmodus operandi’? Introduction Among the most interesting developments in the corporate world is the departure from traditional rigid business practices to accommodate an evolution that introduces a revolution taking interest in human resources within and outside the corporation. Traditional practices experiencing such exodus of thought and philosophy include the famous departure from personnel management to human resource management....
10 Pages(2500 words)Essay

Corporate Social Responsibility in Business

...for the company due to hurdles like understanding and cooperating with the host community (Allio 2011: Badaracco 1992). How would organizations overcome such challenges? Companies can take care of the same by doing research on the nature of their host community to understand how to deal with them. Robert Reich stated that that social responsibility advocates are wasting resources and efforts on a doomed project. Is this the stand of most corporate companies? Yes. Most CEOs will not use (misuse) their profits on concepts that do not generate more. Second Scenario Is Corporate Social responsibility a realistic...
3 Pages(750 words)Essay

New Balance Corporate Social Responsibility

...New Balance Corporate Social Responsibility New Balance is in the business of manufacturing and marketing sports shoes for lastseveral decades. After acquiring brands such as Warrior, Brine, Dunham and many more, it has now become a global company. With total revenues of $1.61 billion posted in 2008, the company is the largest athletic footwear manufacturing company in the US. At least 25% production of the company comes from the US alone from its five different manufacturing locations across the US. The company has over 200 footwear suppliers spread in the different part of the world that include China, the UK, Indonesia, Vietnam, Japan,...
7 Pages(1750 words)Case Study
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 Research Question: Is corporate social responsibility just a new trend or is it the modern business 'modus operandi' for FREE!

Contact Us