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Corporate Social Responsibility - Assignment Example

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In the paper “Corporate Social Responsibility” the author analyzes the environmental, social and governance principles of corporate social responsibility. This notion entails that a business has to give back to the community in some way in order to show that it is fulfilling its obligation…
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Corporate Social Responsibility
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Corporate Social Responsibility

Download file to see previous pages... Social concerns basically focus on the issues in which the business affects the society. It is also referred to as ‘social justice’, under it the people, societies and culture are accounted for, they are protected through various social programs such as native lands, predatory lending and other forms of corporate hoarding (SRIplanner, 2011). Governance, or Corporate Governance, is not a widely known concept; however it is of major significance. It refers to the manners and ways in which a corporation is managed, incorporating issues such as transparency, executive compensation and general decision making. Hence, it reflects on how well the firm is including CSR in its policies and abiding by them (SRIplanner, 2011). 1.2. Discuss the links between an organizational Corporate Social Responsibility strategy and the organization’s internal stakeholders. The stakeholders of a business are a crucial determinant of the success of any CSR strategy. The stakeholders of a business can be categorized into two broad categories of internal and external stakeholders. This section focuses on the internal stakeholders and their link with the organization CSR strategy. The internal stakeholders of any business include the shareholders, the visitors and the staff/employees of a business. Their participation in the entire strategy is a key factor for attaining success, for if the key departments or staffs do not understand the program, then they would not support it enthusiastically, therefore an error in communication with internal stakeholders or lack of their involvement can bring down the entire CSR strategy by making it weak from the inside. The offices from which the staff operates should show that the firm is...
The stakeholders of a business are a crucial determinant of the success of any CSR strategy. The stakeholders of a business can be categorized into two broad categories of internal and external stakeholders. This section focuses on the internal stakeholders and their link with the organization CSR strategy. The internal stakeholders of any business include the shareholders, the visitors and the staff/employees of a business. Their participation in the entire strategy is a key factor for attaining success, for if the key departments or staffs do not understand the program, then they would not support it enthusiastically, therefore an error in communication with internal stakeholders or lack of their involvement can bring down the entire CSR strategy by making it weak from the inside. The offices from which the staff operates should show that the firm is environmentally friendly, the policies related to social endeavors should be hung around the workplace to depict importance, and the CSR efforts should be made public and transparent so that the employees and the people visiting the office can feel that they are connected to a firm that takes up responsibility and accounts for its actions. When the employees feel good about the place they work in, there would be lesser employee turnover and increased job satisfaction, and since motivation leads to increased productivity and growth, it is a positive sign for the business. ...Download file to see next pagesRead More
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