Nobody downloaded yet

Corporate Social Responsibility - Essay Example

Comments (0) Cite this document
Summary
CORPORATE SOCIAL RESPONSIBILITY Name: Institution: Course: Date: Corporate Social Responsibility Introduction Free market theory was a dominant theme of the 1780s propagated by economists such as Adam Smith. Amongst other things was its exclusive resolve that there should be minimal government involvement in the business of the economy if any at all…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER99% of users find it useful
Corporate Social Responsibility
Read TextPreview

Extract of sample "Corporate Social Responsibility"

Download file to see previous pages This thought was advanced by economists of the free market school of thought into the neo-liberalism economics. This new school of thought emerged a century later following the burst of free market ideals, growing out of the existing liberalism economics theory. What therefore was this old liberalism theory all about? Economic liberalism prevailed in America in the 1800 and early 1900 granting individuals the right to make profit in an increasingly unregulated market. Profit was therefore pursuable at no restrictions; an anything goes analogy that would soon plunge the world into unfathomed crisis a few decades later. Subsequent to the economic crush of the 1929 occasioned by the crash of the stock market, the world was plunged into major turmoil; this lead to the emergence of two primary concerns as to how to restore balance to economies that had been into chaos. Firstly, that government had the duty and obligation to spend where others (largely the private sector) would not. Secondly, and in stark opposition to this was, that the intervention of state was both pointless in addition to being potentially dangerous in the long-run health of the aggregate economy (Wapshott, 2011). These early debates still linger till now striking strong and ferocious debates and reactions both within the government and amongst corporate bodies. The subsidence of this World crisis and the decline in profitability in industries prompted the elite to revive economic liberalism leading to the development of neo-liberalism economics (Roberts, 2010). The neo-liberalism economics propagated for the exclusive rule of the markets within the economy; deregulation of government role on any aspect that would cut back on enterprise profitability (including workers’ safety, environment safety and workers’ unionization); privatization of public amenities and resources and reduced public welfare expenditure such as healthcare and education. On the global scale, the spread of this new world order was halted by the World Wars. Subsequent to these was the United States’ Marshall Plan that once more made Europe a major trading bloc with the United States. The tide of independence and freedom of markets was meanwhile blowing across the Atlantics greatly positioning the new economic order to states that were alien due to prolonged socialism and colonization (Robbins, 2004). It is against this widespread neo-liberalism particularly by the United Sates (in its newly found capacity as the world’s superpower) that economists such as Polanyi forecasted the setting in motions events that are yet to lead to another world crisis. The blatant permission of free market forces to be a lone determinant of the fate of humanity and the natural environment would ultimately result in the destruction of society (Polanyi, 2001). However, in an apparent contradiction of his prophecy, Polanyi further went to argue that such a societal destruction could not abound since the developments within the system would guarantee the supremacy of society over the economic system. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 2750 words”, n.d.)
Retrieved from https://studentshare.org/management/1398478-corporate-social-responsibility
(Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 2750 Words)
https://studentshare.org/management/1398478-corporate-social-responsibility.
“Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.org/management/1398478-corporate-social-responsibility.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Corporate Social Responsibility

Corporate Social Responsibility

...?Corporate Social Responsibility Table of Contents Table of Contents 2 Introduction 3 Discussion 5 Importance of Corporate Social Responsibilities (CSR) 5 Influence of CSR on Organisational Performance 8 Conclusion 13 References 15 Bibliography 19 Introduction Corporate social responsibility (CSR) refers to the concept through which the organisations contribute for the betterment of the society and the environment. It is essentially a voluntary procedure and not necessarily every organisation takes measurable steps in this prospect. The contribution of the organisations towards...
9 Pages(2250 words)Essay

Corporate Social Responsibility

...?Corporate Social Responsibility What is Corporate Social Responsibility? From time immemorial, mankind has undertaken many forms of trade. These have flourished into organized forms called businesses. While a successful business is one wherein the businessman makes profit at the end of every year, a high profit is not all that makes a venture successful. Businesses are expected to give back to society – and why not? They get their materials from society. And they sell to society. Hence, they make their profit from society. It is only fair that they learn to give back to the society they are taking so much from. This is what is now termed...
8 Pages(2000 words)Literature review

Corporate Social Responsibility Practices

...?Corporate Social Responsibility Practices Introduction The main objective of an organisation is maximisation of shareholder’s wealth and profit. However, the focus of the management of the company is towards fulfilment of customer expectations and creation of shareholders value. The adverse effects of business activities on the environment and community have led to the development of corporate social responsibility (CSR). CSR has become a means of sustainability for most of the organisations. This has led to the development of the entire organisation. The main objective of the study would be to evaluate the concepts of CSR and its impact on the society and community. The concept of CSR assists the management in revenue generation... in an...
9 Pages(2250 words)Essay

Corporate Social Responsibility

...? Corporate Social Responsibility Emirates National Oil Company: Corporate Social Responsibility Emirates National Oil Company (ENOC) is the Oil and Gas Company group owned by the Dubai Government and runs its operations in Dubai and the northern parts of UAE. ENOC Processing Company LCC is one of its subsidiaries that run the operations of the Jebel Ali Refinery based in Dubai. The corporate vision of the ENOC group is that all the companies or the subsidiaries in the group would meet the highest standards of social responsibilities and would return the benefits to the society, environment and the economy is which it exists as a corporate citizen. The corporate social responsibility lies at the core of the oil and gas business... to UAE The...
4 Pages(1000 words)Essay

Corporate social responsibility

...? Accounting theory Accounting theory Corporate social responsibility (CSR) reports do not provide shareholders and stakeholders with useful information on corporate social and environmental but are rather a public relations vehicle. Introduction The major stakeholders of a company to be given information by the Corporate Social Responsibility include employees, customers, the government, suppliers, public interest groups, banks, and customers. The research using accounting theories in this context will focus on the primary stakeholders without whom the company cannot survive. Studies on secondary stakeholders or non-economic shareholders, that is the ones who affect or influence, affected, or influenced, yet are not involved... . These...
4 Pages(1000 words)Essay

Corporate social responsibility

...18-05-2007 Corporate Social Responsibility Essentially all socially desired (legal) economic activities pursued for the purpose of earning profit could be defined as business. Thus economic activities directed to wards creation of utility for the satisfaction of wants may be termed as business. Eventually creation of utility leads to creation of surplus and this is the crux of all business activities. Various functions are performed by business enterprise and the obvious motive of business activities is profit making. But this should not lead us to think that profit is the primary objective of business. The primary object of business is to supply quality goods and...
6 Pages(1500 words)Essay

Corporate Social Responsibility

...The practice of CSR or Corporate Social Responsibility as a paradigm for firms and businesses to follow has evolved from its early days as a slogan that was considered trendy by some firms following it to the present day realities of the 21st century where it is no longer just fashionable but a business requirement to be socially responsible. This evolution has been necessitated both due to the myriad problems that we as a race face which has changed the environment under which firms operate as well as a realization among business leaders that profits as the sole reason or raison d’être for existence can no longer hold good. Hence, the great economist and...
12 Pages(3000 words)Essay

Corporate Social Responsibility (CSR)

...Corporate Social Responsibility (CSR) Contents Introduction 3 2 Part A 3 2 Corporate Social Responsibility 3 2.2 Importance of corporate social reasonability 4 3 Part B 5 3.1 Corporate Social Responsibility of Qantas Airlines 5 3.2 Analysis of the Corporate Social Responsibility of Qantas Airlines 6 4 Conclusion 6 5 Reference 6 1 Introduction The corporate sector witnessed a lot of corporate scandals and other financial crisis like the bankruptcy of Enron, Lehman Brothers...
4 Pages(1000 words)Essay

Corporate Social Responsibility

...Corporate social responsibility Though the primary goal of many Corporations is to maximize the shareholder wealth, numerous factors have shifted the attention of many companies to social corporate responsibility. Corporate social responsibility (CSR) or corporate accountability include the corporate activities that integrate the business strategy to the environmental concerns, values and decision making in improving the welfare the society. Studies have shown that potential benefits of CSR include the ability to recruit and retain...
1 Pages(250 words)Research Paper

Corporate Social Responsibility Plan

...Corporate Social Responsibility Plan 0 Executive Summary Nationwide Insurance is identified as a major stakeholder in the insurance and for that matter financial industry. Much of the company’s success can be attributable to leadership successes in terms of the kind of strategic plans that have been introduced and implemented over the years. In most cases, these strategic plans have been operated from four major themes, three of which are directly found in the 3 spheres namely economic, political and civil society. The forth is environmental. It has however been established that not much focus has been given to the need to incorporate these plans directly into corporate...
11 Pages(2750 words)Assignment
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 Corporate Social Responsibility for FREE!

Contact Us