Development of Corporate Social Responsibility in China and the Impact on Chinese Enterprises - Research Paper Example

The paper "Development of Corporate Social Responsibility in China and the Impact on Chinese Enterprises" is an excellent example of a research paper on finance and accounting. Corporate social responsibility is defined by the world business council for sustainable development as a business commitment to contribute to sustainable economic development, working with employees, their families, the local community, and the society at large to improve their quality of life. Another definition by the business for social responsibility defines CSR as operating a business in a manner that meets or exceeds the ethical, legal, commercial, and public expectations that society has of business. Corporate social responsibility includes considerations in human rights, workplace and employee issues, organizational governance, environmental aspects, and community social development (Kotler & Lee 2011).

Business and CSR relate together in the sense that successful corporations need a healthy society. Therefore, education, healthcare, and equal opportunity are essential to a productive workforce. Safe products and working conditions not only attract customers but also lower the internal costs of accidents. Additionally, efficient utilization of land, water, and other natural resources make businesses more productive. With the advancement of society and the development of the economy, enterprises should not only be responsible for their profitability but also must be responsible for society and assume their corresponding social responsibility (Kotler & Lee, 2011). In other words, they need to give back to the society in which they operate, since it is that community that has enabled them to generate returns, whether directly or indirectly.           

CSR programs aim to improve society through different programs (Matten & Moon, 2008). As a way of improving the lives of their employees, companies have invested in improving schools by creating more programs to enhance creativity and career development. Corporations involve themselves with caring for the environment by providing better energy management strategies to reduce pollution, which is a major cause of different diseases. Indeed, environmentalists from all over the world have been actively campaigning for environmental conservation as a way of enhancing human and animal life.