Corporate Social Responsibility and its Impact on Businesses

Business law ethics

INTRODUCTION
In business law various provisions are given for ruling the business conduct. It examines the role
of various business activities and all its aspects relating to ownership and management. Business
ethics on other part are legal ethics which focus on procedures of various legal institutions such
as court procedures, employment law, consumer law, torts, international law and many more. In
business law an arrangement is made in which companies need to integrate with social and
environmental matters in their business operations and how their impact on the society, the
concept of this management is known as Corporate Social Responsibility. This assignment will
cover the report on Corporate Social Responsibility and to what extant corporations takes CSR
seriously in the business environment.
Part 2(Report)
Discuss the extent to which corporations take Corporate Social Responsibility
Seriously.
It has been observed that nowadays almost all companies has involved Corporate social
responsibility as part of its operations. This is the part of company's profit that is expensed every
year. Company by following this expects positive outcome in a way like to produce a desired
product, setting the fair prices and ensuring that equal wages are distributed to the workers of
company. From the ethical point of view the aim of CSR is to bring on the social reforms.
Organisation that are working in the form of venture tends to share the information with the
customers that are more valuable to the company and hence it provides a sense of trust with the
people they are working. It also came the view that investors that are working for the community
has small amount of profit. The objective behind implementing the CSR in company is to
develop the social ideas. Its been seen that people are becoming aware about the concerns like
sustainability and the objects that affect the surrounding (Castelo Branco 2021). In order to
consider company as social friendly and environment friendly, CSR is considered as opportunity.
In positive sense CSR provides the positive impact to the organisation. Also in order to create the

charitable image it partners with the non profit form of organisation. By following CSR in an
appropriate way it helps the company not only domestically but also globally and an ability to
engage with the customers that is beneficial for the company. CSR helps the company in
building social image that simultaneously helps the company to enhance its brand image and
gain popularity so that it can promote the brand. Employees therefore like to works at a place
which is environment friendly. CSR creates a good atmosphere to work for the workers as it
builds innovative and friendly culture (Ramdhony and et.al 2022).
In order to create the favourable impact socially on the environment, companies are required to
adapt certain strategies-
 Philanthropy- this strategy is directed towards getting better of business performance by
investing money or the equipments or by making a deal with the initiatives of community
and by supporting employees.
 Improving operational effectiveness- it has been observed that company is not working
the motive of profits or increased revenue but also for the initiatives of sustainability that
might decrease the use of resource waste that in return reduces the cost. In order to
enhance the reputation company is often into investments in employee working condition
and health care
 Transforming the business model- With the aim of introducing a business, it requires
stakeholders ability to convert the business ad adapt appropriate strategies that benefits
the company.
The benefits of corporate social responsibility for the businesses are as follows:
 Improves public image: The consumers often assess the reputation and public image of
the company before buying or deciding to buy. Therefore, it is on the part of the
company to maintain there reputation by showing that their brand is committed to assist
others and the outcome of which is more favourable to consumers (Felício Samagaio
and Rodrigues 2021).
 Brand awareness and recognition: The companies are more serious about their brand
recognition in the market, therefore they adopt the model of corporate social
responsibility and embrace the ethical practices in their business operations (Xue and
Basioudis 2022). The marketing of these practices is being done to make people aware
about the culture of their brand which automatically increased their brand awareness.