Corporate Social Responsibility and Its Different Aspects

This report discusses the concept of Corporate Social Responsibility (CSR) and its different aspects, including economic, social, and environmental responsibilities. It also covers the relationship between CSR and ethics in the workplace, marketplace, supply chain, community, and public policy realm. The report emphasizes the importance of CSR in making a positive contribution to society and achieving sustainability.

Business law and
Ethics(Assignment 2)

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY (Individual Report)...................................................................................................3
Corporate social responsibility encompasses not only what companies do with their profits,
but also how they make them. It goes beyond philanthropy and compliance.............................3
Addresses how companies manage their economic, social, and environmental ........................4
Relationships in all key spheres of influence: the workplace, the marketplace, the supply
chain, the community, and the public policy realm....................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business laws and ethics are those legislation which is been passed in order to maintain
balance within organisations various process that makes operations of business handled with
efficiency. In business law mainly formation process related to business organization is been
covered. Further the laws has been helping in making smooth working of business possible
through enhancing its various aspects. Also business law is focused upon creating framework
making an business organization work in the direction of achieving goals and objectives set by
an organization. Ethics relates to those standards and regulation that makes discipline and order
maintained within an organization. It is been covered within ethical code of conduct making an
organization attain stability within its growth. Scope and nature of these laws are wider as they
directly affects business environment in more effective way. In this report things covered is
based upon Corporate Social Responsibility with its different aspects.
MAIN BODY (Individual Report)
Corporate social responsibility encompasses not only what companies do with their profits, but
also how they make them. It goes beyond philanthropy and compliance.
Corporate social responsibility (CSR) is related to those responsibility which makes an
organization develop social responsibility of an organization towards society(Pereira, Bhat and
Hans, 2020). This is mainly based over social accountability that is been hold by an organization
towards the country and individuals living within it. As per the practices aspects like social,
economic and environmental responsibility of been achieved through organizations societal
approach. After engaging over CSR an organization requires to achieve operations which is
based upon making organizations operations enhanced within society that makes positive
contribution made. Further the concept of social responsibility is broader which leads upon
making positive contribution of an organization in different forms of social working taking place
within an organization(Matten and Moon, 2020). CSR helps an organization develop goodwill
within market which makes sustainability attained through growth. The concept is one of the
most important part of an organization that makes organization attain higher value over different
elements existing in an organization. This responsibility leads towards increasing organization
capacity over social work. Also such responsibility helps in making internal and external factors
of organization uplifted by making employer and employee relationship more strong in nature.

Through this needs of employee is understood by making them part of decision making. Also
such perspective makes both manufacturing and processing enhanced. This is important over
making development of customer and seller relationship which impacts growth of organization.
It enhances social responsibility of an organization through its various prospectus. Programs over
CSR responsibility makes moral value with ethics to be maintained at workplace. In this
responsibility of workplace ethics is been covered that makes business organization attain every
possible aspect covered in more effective manner. Regarding an organization CSR have major
responsibility related with all those elements making an organization achieve better business
environment. Also CSR responsibility makes an organization deal over both ethical and corporal
issues taking place within an organization. CSR makes an organization enhance all kinds of
aspect that is based over various factors existing in an organization(Matten and Moon, 2020).
Addresses how companies manage their economic, social, and environmental
As the concept of social responsibility corporate welfare is been deal within it that makes
organization develop certain aspects like economic, social, and environmental. In this
development of organizational aspect is done in more effective manner. Under the concept of
CSR all over aspect existing in an organization leads upon enchaining mechanism through which
monetary transaction is been conducted in more strategic manner. The very first concept which is
been developed by an organization is based upon economy which makes stability developed in
relation to profit and revenue generated by an organization. Also it helps an organization apply
concept of optimum utilization of resources that increases good will in market of an organization
through enhancing sales and production in more better manner. This concept makes wastage
reduced of different sources within an organization(Latif and Sajjad, 2018). CSR through
economic responsibility development within an organization makes lot of money saved which is
used over developing an organization. Corporate social responsibility helps in making economic
growth developed in an organization that budget focused over development of organization. Also
it makes better product and services developed by an organization. It makes financial department
work over various aspects which is based upon collecting funds and generating them that makes
economic goals accomplished in more efficient manner.
Social responsibility is been known as corporate social responsibility that is presented in
an organization over making social welfare done by an business organization. This is been
achieved through moral value and ethical code of conduct. Also the goal of social welfare has

been achieved by an organization making social welfare achieved with efficiency through this an
organization makes development of society possible. It makes social welfare programs
conducted within an organization that is based over education, health and hygiene. Under it
impact of various diseases and basic treatment to be provided has to be explained. Through this
customers is been attracted making effectiveness achieved. Also social welfare is been achieved
by an organization by conducting training programs for its employees which makes employee
realize about society and its various aspects. Through this certain important aspects is been
covered that is it makes society educated over various aspects that makes social welfare more
popular. Business organization through CSR contributes a lot within society. Ethics also has
important role to play within an organization as it provides basic framework which makes
guidelines developed over making corporate social responsibility performed with more impactful
manner.
Organization with the helps of CSR makes focus developed upon environment safety in
order to create environmental safety. This is been achieved through ethics and CSR making an
organization achieve goals towards environmental awareness. CSR responsibility and ethics
makes an organization develop its various aspects that contribute towards eco friendly nature.
Through such responsibility an organization is able to control carbon emission and management
of waste is done within it(Hoque and et. al., 2018). This is been achieved through developing
techniques and plants related to recycling of waste. It further helps an organization develop
framework making an organization achieve various aspects that make more awareness created
upon environment safety.
Relationships in all key spheres of influence: the workplace, the marketplace, the supply chain,
the community, and the public policy realm.
CSR responsibility and ethic are interrelated in a way that organization makes different
aspects regarding workplace, market place, supply chain and public policy realm. As per this
functioning of business organization is been impacted. CSR responsibility makes an organization
improve ethical value through making balance created within internal functioning of an
organization. Through CSR ethics of an organization is developed through making standard
goals and objectives achieved. Further discussion has been done as follows:
 The workplace: CSR responsibility makes organization develop its workplace through
enhancing various strategy that is been focused upon ease down of working process. CSR

also makes rules and guidelines formed which leads over discipline and order created.
Through CSR sustainability is attained within an organizations workplace environment
boosting production with manufacturing capacity. Ethics mixed with CSR makes
organizational environment developed in effective way.
 The marketplace: CSR over social welfare standards leads upon achieving goodwill
within market. This also makes social responsibility within an organization which
eventually makes organizations popularity achieved in an organization.
 The supply chain: CSR responsibility creates satisfaction between employees which
makes supply chain management process attain more speed as satisfied employees
working with more consistency(Doshmanli, Salamzadeh and Salamzadeh, 2018).
 The community: In this CSR responsibility makes an organization achieve communal
objectives by focusing over communities working for environmental welfare. It make
mechanism formed for making organization stay connect with environmental awareness.
 The public policy realm: CSR responsibility makes organization develop polices
keeping in mind society which makes societal goals accomplished by increasing social
work tendencies within individuals of society.
CONCLUSION
From the above discussion it can be find out that both business law and ethics makes an
organization develop over various perspective which makes goals and objectives achieved in
more effective manner. Also these laws helps in making organization develop all kinds of rules
and regulations in more effective manner. The report is based upon basic idea of Corporate
Social Responsibility understood. Then CSR is been discussed with economic, social and
environmental elements that directly makes organization achieve its place within market. Then
CSR is been covered with ethics in relation to workplace, community, market place, supply
chain management and public policy.

REFERENCES
Books and Journals
Doshmanli, M., Salamzadeh, Y. and Salamzadeh, A., 2018. Development of SMEs in an
emerging economy: does corporate social responsibility matter?. International Journal
of Management and Enterprise Development, 17(2), pp.168-191.
Hoque, N and et. al., 2018. Is corporate social responsibility pursuing pristine business goals for
sustainable development?. Corporate Social Responsibility and Environmental
Management, 25(6), pp.1130-1142.
Latif, K.F. and Sajjad, A., 2018. Measuring corporate social responsibility: A critical review of
survey instruments. Corporate Social Responsibility and Environmental Management,
25(6), pp.1174-1197.
Matten, D. and Moon, J., 2020. Reflections on the 2018 decade award: The meaning and
dynamics of corporate social responsibility. Academy of management Review, 45(1),
pp.7-28
Matten, D. and Moon, J., 2020. Reflections on the 2018 decade award: The meaning and
dynamics of corporate social responsibility. Academy of management Review, 45(1),
pp.7-28
Pereira, R., Bhat, V. and Hans, V., 2020. Business Ethics and Corporate Social Responsibility
Reciprocity–A Study of Selected Companies. Business Ethics and Corporate Social
Responsibility Reciprocity–A Study of Selected Companies.
Sharma, E., 2019. A review of corporate social responsibility in developed and developing
nations. Corporate Social Responsibility and Environmental Management, 26(4),
pp.712-720.