Corporate Social Responsibility - Essay Example

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Corporate Social Responsibility Executive Summary 1. Introduction 2. Corporate Social Responsibility in practice – comparison and analysis of CSR reports of Wates Group, BAM Group and E.on UK 2a. Scope and contents of the reports 2b. Aims and objectives of the reports 2c…
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Download file to see previous pages Recommendations for the enhancement of the reports 3. Conclusion References Appendix Executive Summary The evaluation of the perspectives of modern organizations within the global market is quite difficult. The increasing financial turbulences and social conflicts worldwide have caused delays in the stabilization of firms; moreover concerns often appear in regard to the potentials of a firm to face its competitors and achieve a stable growth. The corporate reports are used as sources for evaluating the current status of organizations but also their potential performance in the future. Particular emphasis is given on the CSR reports, which indicate the efforts of firms for addressing their social and environmental responsibilities. These reports are likely to be used for the development of communication between organizations and their stakeholders. The review of the CSR reports of three organizations operating in different industries in UK proves the value of CSR reports for the improvement of organizational performance. It is also proved that each organization is likely to use different approaches for addressing its social and environmental obligations, as resulting by the principles and standards set by the relevant international organizations. 1. Introduction The response of organizations to their social and environmental responsibilities has been traditionally considered as a criterion for evaluating the potentials of these organizations to meet the market’s requirements. In this context, Corporate Social Responsibility (CSR) has become a vital part of organizational activities. The above fact is also highlighted in the literature published in the specific field. It should be noted, though, that theorists and researchers have used different approaches in order to explain the importance of CSR within modern organizations. In accordance with Habisch (2005) the corporate responsibility should be considered as ‘part of the political and social tradition’ (Habisch 2005, p.38). Moreover, Boeger et al. (2008) note that CSR reports should take into consideration the local culture and ethics. Also, Mullerat et al. (2010) notes that CSR is commonly used as ‘a tool for enhancing shareholder value’ (Mullerat 2010, p.130), a target that is characterized as of key importance for the success of organizational plans. On the other hand, Idowu et al. (2008) note that the development of credible evaluations regarding the CSR initiatives of modern organizations can be achieved only by using appropriate standards and principles, as set by relevant international organizations. From another point of view, Anderson (1989) supports that the quality and the credibility of CSR reports can be checked effectively through appropriate organizational schemes, for instance the development of a ‘social responsibilities audit’ (Anderson 1989, p.255). It should be also noted that firms are likely to set different priorities in regard to their CSR plans, as indicated in the graphs presented in Figure 1 & Figure 2 (Appendix section). Current paper focuses on the review of the CSR reports of three firms operating in different industries within the British market: the Wates Group, a well – known construction firm, the BAM Group, a firm operating in the field of international contracting, as part of the Royal BAM Group, a European construction enterprise’ (BAM 2011, About us) and E.on, a key competitor in the power generation industry of UK. The CSR reports ...Download file to see next pagesRead More
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