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.
Nobody downloaded yet

The Impossibility And Importance Of CSR - Case Study Example

Comments (0) Cite this document
Summary
CSR is known as Corporate Social Responsibility. Corporate Social Responsibility is a voluntary initiative by the corporation. The paper "The Impossibility And Importance Of CSR" discusses some problems associated with CSR and its influences on business and society…
Download full paperFile format: .doc, available for editing
Polish This Essay98.6% of users find it useful
The Impossibility And Importance Of CSR
Read TextPreview

Extract of sample
"The Impossibility And Importance Of CSR"

Download file to see previous pages CSR also happens when a corporation’s business operations (as in the company’s policies and actions) are integrated with social values, specifically the stakeholders’ interests.  Usually, it focuses on three things: the social, the financial and the environmental facets of the corporation’s interactions. It actually has a triple bottom line: people, planet, and profit. CSR involves two main concepts: transparency and accountability. To be accountable is not only to become accountable in terms of the corporation. It also means to be accountable in terms of to its personnel. They have to have the right wages, incentives and working conditions. Of course, they should also be accountable in terms of protecting the culture, environment and the economy of the community. Thus, the corporations of today are expected to perform well not only in financial and management areas but also in areas like business ethics, corporate contributions, community development, diversity, human rights and other workplace issues. With CSR, every company’s environmental and social performances are proportional with their financial performance. CSR also happens when a corporation’s business operations (as in the company’s policies and actions) are integrated with social values, specifically the stakeholders’ interests.  Usually, it focuses on three things: the social, the financial and the environmental facets of the corporation’s interactions.’s interactions. It actually has a triple bottomline: people, planet and profit. CSR involves two main concepts: transparency and accountability. To be accountable is not only to become accountable in terms of the corporation. It also means to be accountable in terms of to its personnel. They have to have the right wages, incentives and working conditions. Of course, they should also be accountable in terms of protecting the culture, environment and the economy of the community. Thus, the corporations of today are expected to perform well not only in financial and management areas but also on areas like business ethics, corporate contributions, community development, diversity, human rights and other workplace issues. With CSR, every company’s environmental and social performances are proportional with their financial performance.

As mentioned earlier, transparency is important. Now, corporations are expected to communicate their thrusts, projects and policies that affect their employees, as well as the community and the environment. Current global companies that show transparency are proven to be more financially successful as these factors contribute immensely for a sustainable financial growth.

Currently, the investors are now making significant efforts to curb their carbon footprints to enhance their positive impact to the community. These companies are more sensitive to the fact that their company can actually have an impact to the society, and that they are/can be actually socially accountable, as well as environmentally accountable. As an incentive, the stakeholders are rewarding the companies who are indeed making efforts to contribute to the society’s well-being.
However, the biggest criticism comes from Milton Friedman, saying that CSR is a paradox and a complete irony, not to mention impossible. Milton Friedman is an American economist who was a recipient of the Nobel Memorial Prize for Economics for “his achievements in the field of consumption analysis, monetary history, and theory”. He thinks that corporations cannot have responsibilities as CSR entails that businesses have “social responsibilities”.

As corporations are only artificial entities, logically, they also have artificial responsibilities but of course, even a business cannot have a responsibility. Sure, businesses are owned by responsible people, and corporations have business executives who have values. These business executives may take part in a social movement, perhaps join a medical mission to help those in need. They may have other responsibilities that they took on their own, like their family, their church or even their country. With these responsibilities that they have taken in, they also put in their own money (which they earned from working in the corporation). Because in these respects he is not working as an agent for the company, he is acting on his ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Impossibility And Importance Of CSR Case Study”, n.d.)
Retrieved de https://studentshare.org/management/1391223-impossibility-importance-csr
(The Impossibility And Importance Of CSR Case Study)
https://studentshare.org/management/1391223-impossibility-importance-csr.
“The Impossibility And Importance Of CSR Case Study”, n.d. https://studentshare.org/management/1391223-impossibility-importance-csr.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
The Importance of Branding in Google and Lego
It has started their operations with the help of search engine business. Now they have diversified into many other areas such as social networking, mobile communications, operating system, e-commerce etc. The name Google is familiar to even a layman at present because of the extensive brand building strategies implemented by Google.
4 Pages(1000 words)Case Study
Importance of motivation on the workforce
Thus, motivating them how to perform better is a never ending process. Questions like what does make people tick in a workplace does not cease to end and always had preoccuppied both organisational theories and managers since running a business becomes a formal discipline inquiry.
5 Pages(1250 words)Case Study
Importance of Immunizations
But now the experts are retrieving to create some prophylaxes in order to cure the spread of communicable diseases, and control them at a high extend. These preventive measures can be applied by boosting up the immunity at individual level, so that most of the epidemic and pandemic infections can be controlled within a community.
4 Pages(1000 words)Case Study
The Importance of the EEO in Starbucks
The aim and duties of EEO department is to ensure equal treatment of all employees (including training, professional development, coaching, equal pay, etc.). (Starbucks Coffee Company 2007). The importance of EEO is explained by the fact that these policies help to restrict harassment and violation of rights of minority employees.
3 Pages(750 words)Case Study
The Importance of Entrepreneurship and Enterprise in the UK
There are observations which claim that companies are constantly challenge by the fact that the control and creative aspect of business are diametrically opposed. But the achievements of a number of entrepreneurs are evidence that these business aspects should be both exhausted by the management.
10 Pages(2500 words)Case Study
G.E Healthcare (B): A CSR Dilemma
The devices are stripped down of real products to the extent that they do not meet the basic standards required in the west. The ethical issue is whether it is right to sell and make profit from a product that is below
3 Pages(750 words)Case Study
The Importance of CSR at Nike
Corporate Social Responsibility, which is shortened to CSR in this paper, is playing a crucial role in corporate businesses. According to Price, CSR is the commitment of an organization to ethical behaviour, as well as to the improvement of relationships with society, its immediate community, and its workforce by improving their quality of life.
7 Pages(1750 words)Essay
The importance of XML Labelling Schemes in Managing XML data
In a relational database, data stored in tables is used to represent the various entities comprising the database (Pal et al. 2004: 1148). To cater for the increased need of DBMS, research has been done to develop the most efficient labelling scheme.
3 Pages(750 words)Case Study
Genzymes CSR Dilemma
Medical intervention to the disease is mainly by an aged dosage of medication that is difficult to monitor its administration and thus development of a new strain of TB infection- XDR- TB. This
3 Pages(750 words)Case Study
Case Study 2: GE Healthcare (B): A CSR Dilemma
In fact, the idea had been shelved in the 1990s for this reason but was later one deemed worthy of consideration in the local markets because of the trade offs that low income users
2 Pages(500 words)Case Study
Let us find you another Case Study on topic The Impossibility And Importance Of CSR for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us