Corporate Social Responsibility And A Company - 1926 Words

What is Corporate social responsibility (CSR) to a company? what is the relationship between CSR and profitability to a company? According to the class material I have learned CSR is not only companies do with their profits, but also how they make profits. It goes beyond philanthropy and addresses how corporation manage their economic, social and environmental impact, as well as the relationship with the customers, supply chain, and the community we live in. Corporate social responsibility promotes a vision of business accountability to a wide range of stakeholders, more than just shareholders and investors. The most important aspect of CSR is to protect the environment and the wellbeing of employees, the society and the community in general. First of all, for some corporations the CSR is not their priority, the most common reason is because the practice of CSR will increase the cost of the company and decrease the profitability of the company. According to Sprinkle and Maines (2010) the costs associated with practice CSR separated into opportunity costs, sunk costs and recurrent costs. Opportunity costs defined as any activity that could not have been undertaken due to capital and labor being bound to the CSR activity, which might result in lost revenues. Secondly, although CSR can help the company build up their positive corporate image and good corporate citizenship, for some companies the process is too slow to see the benefit side of it, and it is a time consumingShow MoreRelatedCorporate Social Responsibility : A Company s Responsibility Essay1737 Words   |  7 PagesREVIEW Corporate Social Responsibility can be defined as a company’s responsibility to ensure ethical business behavior, contribution to the economic development of a country, improve the lifestyle of its own workforce and their family members, betterment of local community and overall society. It is some small amount of cost done by the company which effect can’t be seen in the present but in long term it promotes positive image for the company. Successful CSR program can take a company beyond governmentRead MoreThe Impact Of Corporate Social Responsibility On The Companies912 Words   |  4 PagesCorporate social responsibility, often abbreviated as ‘CSR’ is an approach taken by corporate companies of different purposes of the welfare of their workers, customers and as well as paying attention to ecological maintainability and responsible advertising. The term ‘CSR’ started becoming popular since World War II and has been a subject of major debate over whether a firm should solely aim for making profits or also consider giving back to its society, therefore, corporate social responsibilityRead MoreCorporate Social Responsibility Of Disney Company891 Words   |  4 Pages Corporate social responsibility CSR has experienced that it essentially original mission in the pantheon in the management literature. the basic question at the heart of CSR are as old as a business itself such as what is an industry for and what is it proposing and it does make for the nation? This essay will demonstrate the strength challenges limitations of corporate social responsibility. It will also raise ethical responsibility Journey and controversy of The Walt Disney company. ThisRead MoreCorporate Social Responsibility Initiatives For The Company1547 Words   |  7 Pagesfounders played a big part in bringing success to the company. 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CSR is a strategy that managers use to monitor, maintain, and often times improve the environmental and social impacts of their companies as well as how they interact with all of their stakeholders not just the shareholders for which their operations effect. Managers should use their CSR plains to balance the expectations of their often competing stakeholders withRead MoreCorporate Social Responsibility : A Company s Sense Of Responsibility1366 Words   |  6 PagesCorporate Social Responsibility Corporate Social Responsibility refers to a company’s sense of responsibility towards the community and environment, in both ecological and social aspects, in which it operates. It may also termed as corporate citizenship and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead of this it promotes positive social and environmental change. According to Cheng (2014) many top executives as well asRead MoreCorporate Social Responsibility : A Company s Sense Of Responsibility734 Words   |  3 PagesBusinessDictionary.com (n.d.), defines corporate social responsibility (CSR) as â€Å"a company’s sense of responsibility towards the community and environment, both ecological and social, in which it operates† (para. 1). When expressing citizenship, companies can do so through its waste and pollution reduction processes, by contributing to educational and social programs, and by earning adequate returns on the employed resources (BusinessDictionary.com, n.d.). Economic, political, and civil society areRead MoreCorporate Social Responsibility Is an Inescapable Priority for Companies2786 Words   |  12 PagesOver the last decade, Corporate Social Responsibility (CSR) has emerged as an inescapable priority for companies all over the world. Governments, activists, and the media have to a greater extend become adep t at holding companies account for the social consequences of their business activities. As a result, companies are increasingly being ranked on their CSR performance. Sustainable clothing that is still luxurious. An unusual concept but this is what Peter Ingwersen, an established Danish designer