Corporate Social Responsibility Business Assignment

Running head: MANAGEMENT
Management
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1MANAGEMENT
Introduction
A socially responsible business is essential for profit venture companies and this helps in
seeking a leverage business which is sustainable in the real world. The businessmen must engage
in the voluntary initiatives with the aims and objectives in improving the various areas from
environmental and social aspects of the society. The company must try to make various types of
financial gains for the improvement of the community. A socially responsible business also
requires proper collaboration between the local community and the business sectors. It is also
important for the businessmen to be aware of the various social customs, culture and the
environment. Moreover, a socially responsible business also helps in integration of the various
activities such as reduction of the waste management services and using the natural resources in
a more sustainable way (Revelli & Viviani, 2015). This essay will highlight an in-depth
description of the socially responsible business and describe the role of stakeholders,
shareholders and ethics in the organization. There are many customers who prefer to consume
the goods that is produced in a socially responsible way. The lack of resources and the business
sizes of the SME’s help in creation of the values in the business organization. It will also help in
adoption of the socially responsible business practices. It is also responsible for the creation of
positive value towards the customers, employees and the local community. This lays an impact
on the potential business benefits on the business performance, employees and the customers. It
is also necessary for a socially responsible business to require continual interaction and
maintenance among the stakeholders and the business person within the organization (Trinks &
Scholtens, 2017).

2MANAGEMENT
Discussion
The concept of socially responsible business requires high level of involvement between
the companies and the community in which the company operates. This concept is similar to
corporate social responsibility and thus has similar goals which try to make positive contribution
and minimize the harmful effects. Socially responsible business also makes to create market
space within the organization. This is possible through partnership and other alliances and thus it
can be done with collaboration from different organizations. It prioritizes socially responsible
activities and tries to create demand for long term activities in the organization. It is also
essential to gather the background information and the on-ground information of the
organization. Moreover, innovation is also a vital element which will help in facilitating,
performing and expediting the business practices. The ability to implement and think creatively
will also help in the growth of the business organization (Pastakia, 2014).
The approach of socially responsible business also helps in accessing the information
and the analysis of different organizations. It also helps to gain insight in the local business areas
and also find out representatives who will assist them in different sites. The lack of resources and
the size of the business of the SMEs will also help the enterprises to approach in a socially
responsible way through positive creation. This will lay potential benefit on the customers,
business performance and the employees. The idea of triple bottom line helps in widening the
financial bottom line to the business and thus includes the environmental and the social
responsibilities. It becomes challenging for the business organization to maximize the financial
returns while carrying out the business and this also helps in benefit the people and the
environment. These practices are socially acceptable by the consumers and also it will not lead to
damage in the natural environment(Hoejmose, Bramme & Millington, 2013).