Practicing Corporate Social Responsibility is good for Business - Essay Example

Comments (0) Cite this document
It has several benefits to particular companies that can incorporate the social initiatives. The paper will highlight several examples of how the business firms are able to reap the financial benefits as well…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.3% of users find it useful
Practicing Corporate Social Responsibility is good for Business
Read TextPreview

Extract of sample "Practicing Corporate Social Responsibility is good for Business"

Corporate Social Responsibility in Practice Number May 8, Faculty Corporate Social Responsibility Corporate social responsibility is such a good practice in a business. It has several benefits to particular companies that can incorporate the social initiatives. The paper will highlight several examples of how the business firms are able to reap the financial benefits as well as corporate goodwill in supporting the initiatives that generate significant profits with purpose. Most commercial enterprises can support the social concerns in strategic philanthropy (Rajak, 2011). They additionally benefit the community in the economic development at the same time minimizing their environmental footprints.
Those socially minded non-commercial and the commercial businesses have a responsibility in the provision of equal employment opportunities, accessibility, safe work environments, fair wages and job training. The above-mentioned factors are important in building the human capital. Several companies have gone an extra mile in offering non-mandated benefits like the financial assistance, subsidized housing, food, and health, as well as the educational programs. Generally, they contribute to most of the community programs encouraging volunteerism amongst individuals. Furthermore, the socially responsible firms in businesses adopt sustainable practices in business and support a wide range of many other environmental and the social concerns (Kotler, 2011).
The awareness of social responsibility is a significant part of doing business. The corporate social responsibility movement usually encourages the companies to take much responsibility for the effects they have on the market places, workplace, society and the environment (Idowu, 2011). Firms need to be very vocal mostly on their social commitments in publicly reporting social impacts that result from their initiatives.
Idowu, S., & Louche, C. (2011). Theory and practice of corporate social responsibility. Heidelberg: Springer.
Kotler, P., & Lee, N. (2011). Corporate Social Responsibility. New York, NY: John Wiley & Sons.
Rajak, D. (2011). In Good Company. Palo Alto: Stanford University Press. Read More
Cite this document
  • APA
  • MLA
(“Practicing Corporate Social Responsibility is good for Business Essay”, n.d.)
Practicing Corporate Social Responsibility is good for Business Essay. Retrieved from
(Practicing Corporate Social Responsibility Is Good for Business Essay)
Practicing Corporate Social Responsibility Is Good for Business Essay.
“Practicing Corporate Social Responsibility Is Good for Business Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Practicing Corporate Social Responsibility is good for Business

Corporate Social Responsibility

...’ interest about CSR are likely to show lack of sustainability in the long run (Waldman & et. al., 2012). It is because of this reason that corporate social responsibility facilitates in gaining the trust of the stakeholders because CSR provides transparency to the business activities. Moreover, CSR is also quite important for the development of the society for the reason that business organisations form the background of the economy and a proportionate investment by them in the social activities would result in social development. In addition, CSR facilitates in maintaining a good...
9 Pages(2250 words)Essay

Business Ethics Corporate Social Responsibility

...the problem at hand not decisions that are likely to impact negatively on the targeted people. 6. Merck had an ethical obligation in as far as the development of the drug was concerned. First foremost, it is Merck’s responsibility to establish the impact of the drug on the targeted people. Even if the drug had a small chance of curing river blindness, it would be Merk’s duty to ensure that the company upholds its ethical principles in as far as health and safety of the targeted people are concerned. There should not be any chances used when a drug that impacts on the health of people is developed. The main issue here is that the company should be sure that it is doing the right thing in as far as development of the drug...
4 Pages(1000 words)Assignment

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... It is...
9 Pages(2250 words)Essay

Corporate Social Responsibility (Business Ethics)

...performance. As a result of this in 1989 alone, 78% buyers switched brands. (Davids1990). World Bank defines CSR as: "Corporate Social Responsibility is a term describing a company's obligations to be accountable to all of its stakeholders in all its operations and activities." While it is now true that corporate social responsibility is highly desired, it has not always been the accepted practice for corporations. In 2004 for example Henry Miller in The Miami Herald, Henry Miller wrote, "Businesses do not have social responsibilities; only people do."...
13 Pages(3250 words)Essay

Corporate Ethics & Corporate Social Responsibility of the local community and society at large." (Corporate Social Responsibility: Making Good Business Sense. 2000). According to the definition, companies should commit themselves to behave in an ethical way and should also ensure that they contribute towards economic development and also ensure that its workers, the local community and the society at large. Even though no direct reference to profitability is made, it can be understood from the words 'contribute to economic development' is indicative of the fact. This definition is nearly a decade old and the scope of CSR has taken a much bigger dimension with the passage of time. According to the...
14 Pages(3500 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...
6 Pages(1500 words)Essay

Business Ethics & Corporate Social Responsibility

...Running Head: Business Ethics and Corporate Social Responsibility: Cases Analysis CASES: MAPLE LEAF CASE STUDY: AN EXAMPLE OF CRISIS MANAGEMENT Pritesh Patel Professor: Dr. Mark Schwartz Course Code: ADMS3660, C Student No.: 209-586-223 Date: July.28th, 2010 Word Count: 1630 Abstract It is the right of the consumer to use a product without having to worry about any problems that the product may inflict on the consumer. In August 2008, the Canadian food manufacturer Maple Leaf came under close scrutiny after the products the company produced were found to contain Listeria. 22 people died while multiple others suffered serious illnesses. The company immediately suffered a...
5 Pages(1250 words)Case Study

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...
12 Pages(3000 words)Essay

Corporate Social Responsibility in Business

...) ‘The environmental responsibility of business is to increase its profits (by creating value within the bounds of private property rights)’, Industrial and Corporate Change, 19 (1)   Galbreath, J. (2009) ‘Building corporate social responsibility into strategy’, European Business   McManus, J. (2011) ‘Revisiting ethics in strategic management’, Corporate Governance, 11 (2)   Pava, M.L. (2008) ‘Why corporations should not abandon social responsibility’, Journal of Business Ethics, 83 (4)   Porter, M.E. and Kramer, M.R. (2006) ‘Strategy & society: the link between competitive advantage and corporate social responsibility’, Harvard Business Review, 84 (12)... Lecturer First Scenario Is it possible to successfully inculcate...
3 Pages(750 words)Essay

Corporate Social Responsibility & Business Ethics

...Corporate Social Responsibility & Business Ethics Introduction The economy of the UK largely depends upon the contribution of the public and the private sector towards the GDP (Gross Domestic Product). In this study, the discussion will be focused upon the public and the private sectors of the UK economy, in their successful business management practices regarding the structure and culture together with effective methods of managing the behaviour and attitude of the business workforce. The private sector is the part of the national economy that comprises of resources owned by private enterprises. The public sector is...
8 Pages(2000 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 Practicing Corporate Social Responsibility is good for Business for FREE!

Contact Us