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Corporate Social Responsibility (CSR)

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Added on  2021-04-21

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CORPORATE SOCIAL AND RESPONSBILITY (CSR) CORPORATE SOCIAL AND RESPONSBILITY (CSR) 2 Corporate Social and Responsibility (CSR) Name of the student Name of the University Author’s Note Introduction 2 Part 1 2 Part 2 Part 3 4 Conclusion 5 References 6 Introduction In today’s business era, Corporate Social Responsibilities (CSR) is considered as considered as one of the major success factors. It needs to be mentioned that Legitimacy Theory is based on

Corporate Social Responsibility (CSR)

   Added on 2021-04-21

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Running head: CORPORATE SOCIAL AND RESPONSBILITY (CSR)Corporate Social and Responsibility (CSR)Name of the studentName of the UniversityAuthor’s Note
Corporate Social Responsibility (CSR)_1
1CORPORATE SOCIAL AND RESPONSBILITY (CSR)Table of ContentsIntroduction......................................................................................................................................2Part 1................................................................................................................................................2Part 2................................................................................................................................................3Part 3................................................................................................................................................4Conclusion.......................................................................................................................................5References........................................................................................................................................6
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2CORPORATE SOCIAL AND RESPONSBILITY (CSR)IntroductionIn today’s business era, Corporate Social Responsibilities (CSR) is considered asconsidered as one of the major success factors. CSR refers to the movement aims to encouragebusiness organizations to be more aware about the impact of their business on the environment,society and their stakeholders (Tai and Chuang 2014). Thus, it can be said that CSR is aparticular business approach contributing towards sustainable development by deliveringenvironmental, social and economic benefits to all the stakeholders. The main aim of this reportis to analyze various aspects of CSR is respect to a major Australian food and hardware retaincompany, Woolworths Limited (WOW).Part 1Different kinds of theories can be seen for representing the CSR activities of the businessorganizations. One of such theories is Legitimacy Theory. It needs to be mentioned thatLegitimacy Theory is based on the notion that there is a social contract between a businessorganizations and the society in which the company is operating (Lanis and Richardson 2012).For this reason, business organizations try to legitimize their corporate activities by engaging inCSR reporting in order to get approval from the society. This particular theory puts emphasis onthe aspect that the interrelation between the business organizations and the society can beconsidered as a reality of the social life. Moreover, this theory also states that the existence of thebusiness organizations largely depends on both the market strengths and social expectations(Fernando and Lawrence 2014). For this reason, the fulfillment of the community andenvironmental expectations is a major perquisite for the survival of the organizations. Hence, it is
Corporate Social Responsibility (CSR)_3

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