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Corporate Social Responsibility as a Crucial Factor - Coursework Example

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The paper "Corporate Social Responsibility as a Crucial Factor" states that CSR unswervingly affects the value and position of a brand positively. It plays a crucial role in enhancing factors such as brand presence, clarity, consistency and many other factors…
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Corporate Social Responsibility as a Crucial Factor
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Download file to see previous pages Consumers tend to buy products from those companies, who are socially responsible. In fact, they do not mind paying a premium for a product, which is distributed by a socially engaged company. As far as employees are concerned, it has been found that existing employees, as well as job seekers, also choose to work with a company, which satisfy them, in terms of its social responsibility engagement. This study highlights the significance of CSR in enhancing brand value. In order to be able to do an in-depth analysis, the paper has been divided into several sections, highlighting different aspects of CSR.
Corporate social responsibility is receiving an unprecedented level of attention, over the last few decades. According to a report published by The Economist (2008), the majority of the executives working in international organizations regard corporate social responsibility at the top of their priority list. Smith (2009) states that due to the advent of globalization, there is a mounting pressure on multinational companies to address issues related to social responsibility. The issues that are majorly addressed by executives, all over the world, are environmental protection, supply chain, employee rights and working conditions (Mueller, dos Santos and Seuring, 2009). The underlying reason behind multinational organizations for giving such importance to corporate social responsibility is that failing to do so might tarnish the global brand reputation and image of the company. The theories mentioned above suggest the fact that in order to manage the reputation and value of a brand, understanding the role of corporate social responsibility is of utmost importance. On a formal note, corporate social responsibility refers to an organization’s status and activities associated with the perceived stakeholder and societal obligations. ...Download file to see next pages Read More
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