Corporate Social Responsibility and Its Contribution to Economic Growth

Business Law and Ethics
(Assessment 2)

Table of Contents
INTRODCUTION.......................................................................................3
TASK..........................................................................................................3
Corporate Social Responsibility........................................................................................................3
CONCLUSION................................................................................................6
REFERENCES.........................................................................................7

INTRODUCTION
Corporate Social Responsibility (CSR) is an initiative which many companies include in
their structure to monitor their organization in the vast field of competition where other companies
are taking initiatives to take a step forward to help the society in a broader way. Companies put their
effort to have a positive impact on the people, environment, and society all over the world through
their product or organization. Companies build their social reputation by the method of (CSR)
through taking the responsibilities of leaving the positive light on people at large by reducing
environment impact by their work, supporting diversity equity and inclusion, and enhancing health
and wellness of the people (Al-Shammari, Banerjee and Rasheed, 2021). It is a management
concept where companies support the social and environment concerns in their business with other
shareholders and other companies through public speaking, dealing, or advertising their products.
There are many corporations which shows concern about these causes for the better CSR of their
companies. This report will cover different approaches of CSR and its contribution in the economic
growth of the nation. Further, it will discuss CSR role in rebranding of products and establishment
of public relations and inspiring employees from initiatives and actions taken by the organization.
MAIN BODY
TASK
Corporate Social Responsibility
Corporate social responsibilities are an initiative taken up the company without having a legal
obligation. This deals with the environmental and social impacts. The CSR is good for the planet,
for the employees, for the customers. Corporate Social responsibilities contribute the betterment of
the sustainable development of the society’s health and the welfare. The CSR is important to build
an impact within the society as while contributing for the development of the society is always
appreciated by the people of the society. There are many benefits of Corporate social
responsibilities which are improved image in the public, it is important to have a good image in the
society within the consumers as to the growth of the corporation. The work done by members of the
organisation can be as simple as volunteering working in a charity may be for once or twice in a