Corporate Social Responsibility and Triple-E Base Line - Essay Example

Corporate social responsibility helps ease public and investor tension in case of poor performance or a recurrent problem affecting a company. CSR, therefore, contributes largely to bringing back public confidence in the company. In line with business objectives profit maximization is inevitable. This can be achieved through market research in order to get the best market strategy. It’s a challenging exercise bearing in mind the complex variables involved such as demographic, terrestrial, and psychographic variables. These market variables are always dynamic and it is therefore paramount for firms to shape Corporate Social Responsibility into strategy. This way problems related to market dynamics and unpredicted customer needs will be eliminated. In addition, creating value for customers is a common problem for many firms yet it is an important strategic function. This function can be well achieved through market orientation and innovation.

However, Corporate Social Responsibility should not be used as a manipulating tool by managers and public relations experts, this is because most companies when faced with criticism over public disorder have a tendency of using corporate social responsibility to divert attention and avoid judicial responsibility. A case to refer to is an instance where say an oil production company messes with the environment by channeling wastes into rivers and consequently using corporate social responsibility activity to evade jurisdiction. A critical look into CSR perspectives indicates its categorization as follows; Amoral View, Personal perspective, and Social perspective. “Amoral perspective represents the ancient view of business where a corporation is viewed as a highly individualized right bearing economic entity intended for profit-making” (Jeremy, 2009). Some executive management in firms tends to sit on a problem that could have been otherwise solved collaboratively with other members of the management. A case to refer to is an instance where the growth of industries in a country results in the increased level of pollution of its environs. Instead of watching this menace grow to an unmanageable level, there needs to be insightful and informed research on the means and ways of recycling industrial waste. Firms, which have incorporated this initiative, have created jobs for the jobless populations while saving nature. Plastics for instance can be recycled and useful valuable products made of them.

A moral view means an activity having no moral quality. The personal view discusses the nature of a corporation's ability on accountable. Corporations are seen as a collaboration of individuals acting singly as independent entities. In this view, the interest is to determine whether the entity is a moral agent or not. The social perspective asserts that corporations exist within an interpersonal and social context. It, therefore, views its activities as dictated by these setups. Corporations are therefore regarded as a social institutions existing in a society. This is because these corporations are considered social institutions whose objectives and formation are by individuals who work together to produce goods and offer services.

Triple-E Bottom Line (TBL) is taken to mean Economic, Ethical, and Environmental bottom line. TBL is basically an evaluation of economic, ethical, and environmental value or damages a particular corporation causes during the running of its activities. TBL assessment is mostly measured against corporate social responsibility value. It is often used as a basis for assessing the performance of a corporation. There are several contributions that CSR and TBL assessments have on business setup and problem reduction. First, when effectively conducted builds a good reputation of management with this sustainable corporate reputation is built up since the expectations of different stakeholders are fulfilled. Secondly, corporations and businesses get a chance to understand the concerns of the entire stakeholder body. This reduces risks in business and eases management concerns. Thirdly, it makes it easier to obtain and keep employees through motivations. Lastly, investor relationships and access to funding are enhanced through CSR and TBL approaches. Others include; enhanced operational efficiency, increased competitiveness, and market positioning.

In order to achieve a competitive advantage in the corporate world, building CSR into strategy is inevitable. This will serve as a basis for the establishment of market position and a foundation upon which the business stands. It is worth noting that in order to build a strategy, planning should be done. In addition, social issues need to be examined as it is a basis upon which problems in business existing in sectors such as resources, market decline, among others within corporations are identified, assessed, and acted upon.

It is important to note that the increased search for profits has resulted in environmental degradation by corporations in regard to pollution, depletion of nonrenewable resources, destruction of natural habitats, and consequent destruction of wildlife. This coupled with the governments’ failure to enact stringent regulations regarding the use of resources has led to environmental effects such as global warming. Most economic experts and demographers argue that changes in the number of wastes rather than amplified production and intensity of consumption determine the connection between financial viability and affluence.

They further assert that the failures of the government are complicated since it is politically instigated. In conclusion, the idea of corporate social responsibility is vital and hard to achieve. In fact, today’s social and environmental problems require collaboration between business entities and government. A joint effort between the two will help solve problems related to environmental degradation. It is a basis upon which transparency, accountability, integrity, communication, ethics, and sensible development are inculcated.