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Concepts and Dimensional Aspects of Csr

   

Added on  2020-01-28

17 Pages6089 Words95 Views
New Advance in Business

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................152

INTRODUCTIONBusiness organisation is a group of individuals that work together to achieve their aimand targets. Vision is the most important attribute that has to be developed by businessenterprises so that a directional flow is gained for organisational activities and strategies.Characteristics of vision helps in determining orientation of a company. Corporate socialresponsibility (CSR) is one such approach which is used by companies to attain sustainability.This report will help in understanding the concepts and dimensional aspects of CSR. Be it TESCO or Microsoft, the purpose behind inculcating CSR in the businessfunctioning is to develop an approach which tends to be more profitable and fruitful for not onlythe company but for all the stakeholders related to it. All the implications, advantages,disadvantages and the effects that CSR can have on strategies and outcomes of company'sactions have been elaborated in this report. The impact when business enterprises function withcorporate social responsibility is also assessed in the following report. This shall help inenhancing knowledge regarding the influence and changes which global businesses haveexperienced due to industrialisation. CSRResponsibility is a term that defines accountability of a person or a group towards asubject. When businesses are concerned, the essence of responsibility remains the same but areaof application differs. For instance, the marketing head of TESCO has to fulfil his responsibilityof delivering the best marketing strategies which shall help in extracting more profits. On theother hand, the responsibility of a ground staff employee is to complete the task that has beenassigned to him for the day. Considering the organisation as a whole, responsibility differs.Company is accountable to meet the expectations of employees and clients simultaneously sothat business objectives are will be met effectively (Lindgreen and Swaen, 2010). The operationsof a company have a direct impact over the society and communities which are a part of itsexternal environment.For example:, Dell being is one of the largest software and hardware production companycompanies when it comes to computers and laptops. This company has a social responsibilitytowards the clients and customers that are purchasing or investing their money in theorganisation by some means. Hence, arises the concept of corporate social responsibility3

(Schneider and Schmidpeter, 2012). It is an approach which helps companies in understandingthe impact their decisions and actions can have on citizens or stakeholders. It is a form of self-regulation which is developed to bring in corporate conscience. Being a regulatory mechanism,CSR helps in serving products and services with a humane meaning. This can be understoodbetter with support of an example provided ahead. Red Carnation Hotel is amongst the top branded hotels in UK. It has three star and fivestar hospitality facilities. The responsibility of the organisation is to deliver efficient services tocustomers with affordable and standardised pricing. When corporate social responsibilityconcept is involved in its functioning strategies then firm's responsiveness towards customersincreases (Carroll, 2015). They have to look after the fact that organisational goals are notaccomplished unethically for earning more profits. No exploitation is said to exist when CSR isimplemented. Henceforth, it is essential to understand that there is deep routed link between ethicalfunctioning, sustainability and corporate social responsibility. All these concepts have equalcontribution in developing positive corporate image of a company. The essenceEssence ofcorporate social responsibility is based on the initiatives and actions that a corporation plans forthe benefit of the society without concerning about profit loss (Aguinis and Glavas, 2012). Thesize or turnover of the company are not considerable when while implementing CSR. Theassessment of effects on environment or social well beingwellbeingsor as well as on nationaleconomy are some matters of concern when a company adopts corporate social responsibilityapproach. Comparing CSR with business ethics and sustainabilityBusiness ethics are certain standards or policies which have to be followed byorganisations for developing an ethical governing structure. It is important to have businessethics in functioning so that unfair practises are will be prohibited. The variability of these ethicsdiffers from one level to another but core essence of this attribute remains the same for allindividuals working in a company (Gainer, 2010). Also referred as corporate ethics, businessethics are like rules and regulations which every person working in the company has to follow. Ithelps in developing morale approach towards implementation of strategies. Various issues and4

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