Introduction to Management And Business

Running head
Executive summary
The report is based on the roles that CSR plays in contemporary management and business practices. It
begins with an introduction which is a detailed overview of what CSR entails. This is then followed by a
literature review that covers the CSR theories and the specific roles that CSR plays in corporations. This
is then followed by a conclusion on what was deduced in the report and finally is a list of references from
where the information was sourced.

Introduction to management
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Table of Contents
Executive summary.....................................................................................................................................1
Introduction.................................................................................................................................................3
Literature review.........................................................................................................................................4
CSR Theories..........................................................................................................................................4
Roles of CSR in contemporary management and business practice.............................................................5
Conclusion...................................................................................................................................................9
References.................................................................................................................................................10

Introduction to management
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Introduction
Corporate social responsibility (CSR) can be defined as the concept that business organizations keep in
mind on society's interest by ensuring that they are responsible for the repercussion brought about by their
business activities on customers, employees, suppliers, shareholders, communities, as well as the
environment. In most countries, CSR is not a legal responsibility but can be classified as a form of a “soft
law”. This suggests that companies are morally obliged to voluntarily go beyond legal compliance and
practice CSR. Business organizations should thus ensure that they are compliant with legislation and also
ensure that they take initiatives voluntarily on the advancement of the betterment of their employees, their
kin, the local community and the society at large. Crane, Matten, and Spence, (2019.)
These strategies encompass a wide range of activities which include social sensitive investment, working
closely with the local community, building a rapport with customers, employees, and their families, and
also ensuring that their business practices are sustainable and environmentally friendly. CSR is quite
important to any organization as it indicates that a company is not exclusively profit-oriented, but rather it
also takes a keen interest in wider social issues and giving back to society. The impact of this is the
creation of a positive company image which in turn attracts more customers sharing the same values thus
increasing the profit margin. Therefore, CSR makes perfect sense for all business organizations and the
society at large as both are winners and no losers. The aim of this report is to describe and discuss the role
played by CSR in contemporary management and business practice.