Extent of Corporate Social Responsibility (CSR) Implementation by Corporations

This article critically discusses the extent to which corporations take Corporate Social Responsibility (CSR) seriously, drawing on both the UK and international frameworks for CSR. It covers key analysis in relation to the three major approaches of CSR: people, planet, and profit. The article concludes that in order to lead the competition, it is crucial for companies to take support of top level authorities and strategies for CSR based operations.

Corporate Social
Responsibility

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................4
Critically discuss the extent to which corporations take Corporate Social Responsibility (CSR)
Seriously. The answer should draw on both the UK and International framework for CSR......4
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
The corporate social responsibility is considered as major practice in which different
companies focus on welfare of society (Ali, Frynas, and Mahmood, 2017). It is related to moral
and ethical duties of a business which leads to contribute to uplift weaker sections of society.
The main role of management of a business is to support CSR based operations in order to lead
the competition. Corporate social responsibility is also helpful in increasing goodwill and
reputation of a company. It is key role of a company to put emphasis on CSR based operations in
order to contribute to overall development of economy. In this project there is a brief analysis
conducted about corporate social responsibility in order to understands its key dimensions. This
report will include the extent to which corporations take Corporate Social Responsibility (CSR)
Seriously. The project will cover key analysis in relation to United Kingdom and international
frameworks.

TASK
Critically discuss the extent to which corporations take Corporate Social Responsibility (CSR)
Seriously. The answer should draw on both the UK and International framework for CSR.
The corporate social responsibility is a major function of business entities which are
performing their operations in international and national marketplace. In the CSR based
operations, there is an involvement of integrated environmental and social concerns. The
business operations related to CSR helps in development of successful practices which are
effective in development of focused policies and plans (Cooper, 2017). Interaction with
stakeholders is an important part of corporate social responsibility which includes interference
with main stakeholders. The CSR consists of 3 major approaches which are helpful in
completion of key frameworks that are helpful for increased growth. The first element is people,
second one is planet and the last one is profit. According to World Business Council for
sustainable Development “Corporate Social responsibility is continuing commitment by business
and contribute to economic development while improving the quality and standards of life of the
workforce and their families as well as of the local community and society at large.
If the history of CSR is evaluated then it has its roots in Ancient Greeks which involves
key personalities. Like the virtue ethics which were developed by Aristotle during 340 to 320
also show evidence of corporate social welfare (Demirag, 2018). This explains that what we
could do as an important step or action is done by a virtuous person. The protestant movement
led by Martin Luther from 1517 to 1685 also fought for basic society needs. There are major
types of ethics, which are namely virtue ethics, rights ethics, utilitarian and basic ethics. The
main global perceptions related to moral, ethical and social responsible behaviour put effect on
the ethics and management along with corruption. These historical events remarks presence of
corporate self regulations in relation to social development (Hofman, Moon, and Wu, 2017). The
17th century based colonial ventures to develop and build the empire by the various charters and
acts of parliament. The key example of British East India company granted rights to BEIC to
trade with major entities. Recent example includes IBM, Pfizer, Shell and Walmart. The
companies act and soft law brought revolution in the history of corporate social responsibility.
The shareholders theory in order to develop key approach in managing major operations related
to social responsibility (Hoque, Rahman, and Bhuiyan, 2018). The stakeholder and shareholder

theory are compulsory to be analysed by a business entity in order to enhance chances of social
development.
If the example of Starbucks company is taken into consideration the environmental
stewardship reduction of energy and water in its operations. The company also purchase
renewable energy and reusable cups to conserve the environment. The business entity also
provides Coffee purchasing, farmer support loans to many organisations. Community services
and youth actions grands are provided by Starbucks to maintain effectiveness in their operations.
The most famous banks of United Kingdom “HSBC” performs it CSR operations by taking a
major initiative. The company is tackling homelessness with shelter under which it provide
homes to poor people which is a great work. The eminent company Starbucks is also performing
operations for the welfare of environment and wildlife (López-González, Martínez-Ferrero, and
García-Meca, 2019). The conservation of wild life is most important for society to develop key
approach in management of ecology. The corporate governance which includes hard and soft
laws that are effective in making companies more responsible towards society.
In the international marketplace there are various companies which perform significant
business operations and CSR based operations. In the recent times, all major companies present
in the international and national marketplace focus on developing key planning frameworks
related to overall development for increasing key opportunities at the marketplace. Companies
which are performing their operations in the international and national marketplace belonging to
United Kingdom donate significant amount of profit for CSR functions (Orazalin, nd
Baydauletov, 2020). It is key role of a business to analyse the financial strength and then perform
CSR accordingly. The CSR is widely performed by key companies of UK like Tesco, Marks and
Spencer and ASDA. Management of these companies is always focused on donating funds for
CSR with increased possibility. The donation of key amount of revenue is majorly important for
a business entity in order to perform social welfare. International companies donate more amount
on CSR based operations rather than national companies. It is key role of a business to take into
consideration development of focused approach which is helpful in selection of best strategic
choices (Rupley, Brown, and Marshall, 2017). The supervision and control over key operations
is essential to be established for achievement of certain outcomes. The government of United
Kingdom is also majorly focused on developing an ethical approach in relation to CSR based
operations. Main role of a business organisation is to focus on developing effectiveness and

efficiency with the help of rules and regulations in certain frameworks. The small companies of
United Kingdom donates less amount but they ensure that their amount is utilised in a significant
manner. All the companies which are performing operations related to social work should control
key operations with main supervision and monitoring (Schrempf-Stirling, 2018). Society of UK
also needs shelter, which is provided on key basis by HDFC bank and other companies. Main
role of a business organisation is to focus on developing an ethical approach which is beneficial
for developing competitive approach. The corporate social responsibility in United Kingdom
should be enhanced with help of key rules and regulations that are simple in nature. There is a
need to do amendment in companies act 2006 and formulate relaxed planning in order to
increase strength of CSR activities. Main role of a business is to analyse key strategies which are
helpful in continuously improving planning related to corporate social responsibility (Stoian, and
Gilman, 2017). The companies in the marketplace should come ahead to serve people who are
socially backward and need intense support. This is key task of management to come ahead with
CSR based planning to regulate further development of business scope. Goodwill could be
increased by corporate social responsibility based tools and techniques.
The corporate social responsibility includes major functions that are helpful in providing
corporate world duties for society. The CSR advantages related to UNIDO is helpful in
increasing competitive advantage if implemented in a major sense (Venturelli, Caputo, and Pizzi,
2018). The economic, environmental and social imperatives together formulate Triple Bottom
line approach. It helps in development of enhanced access to capital and markets leading to
increase in increase sales and profits (Yakovleva, 2017). Self regulation which are very
powerful in the sense of companies and corporations. Including the hard law which is constituted
on the basis of companies act 2006. Soft law on the other hand are concerned with corporate
governance principles that appear to lack enforcement power to ensure corporate compliance.
Corporate social responsibility encourages the voluntary accountability to other stakeholders
which includes community, employees and the planet (Zhang, Oo, and Lim, 2019).

CONCLUSION
This analysis concludes that in order to perform corporate social responsibility in an
ethical manner to support social development. This is major role of management of a company to
facilitate development of corporate social responsibility based operations in order to develop
focused approach related to social work. The project concludes that in order to enhance
capabilities of a business related to CSR operations, it is important to take support of CSR based
operations. The main task of a company in corporate social responsibility based operations also
includes key supervision and control over different operations. The project concludes that in
order to lead the competition, it is crucial for companies to take support of top level authorities
and strategies for CSR based operations.

REFERENCES
Books and Journals
Ali, W., Frynas, J.G. and Mahmood, Z., 2017. Determinants of corporate social responsibility
(CSR) disclosure in developed and developing countries: A literature review. Corporate Social
Responsibility and Environmental Management, 24(4), pp.273-294.
Cooper, S., 2017. Corporate social performance: A stakeholder approach. Routledge.
Demirag, I. ed., 2018. Corporate social responsibility, accountability and governance: Global
perspectives. Routledge.
Hofman, P.S., Moon, J. and Wu, B., 2017. Corporate social responsibility under authoritarian
capitalism: Dynamics and prospects of state-led and society-driven CSR. Business &
Society, 56(5), pp.651-671.
Hoque, N., Rahman, A.R.A., and Bhuiyan, M.Z.H., 2018. Is corporate social responsibility
pursuing pristine business goals for sustainable development?. Corporate Social Responsibility
and Environmental Management, 25(6), pp.1130-1142.
López-González, E., Martínez-Ferrero, J. and García-Meca, E., 2019. Corporate social
responsibility in family firms: A contingency approach. Journal of cleaner production, 211,
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Orazalin, N. and Baydauletov, M., 2020. Corporate social responsibility strategy and corporate
environmental and social performance: The moderating role of board gender diversity. Corporate
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Rupley, K.H., Brown, D. and Marshall, S., 2017. Evolution of corporate reporting: From stand-
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regulation, 29(2), pp.172-176.
Schrempf-Stirling, J., 2018. State power: Rethinking the role of the state in political corporate
social responsibility. Journal of Business Ethics, 150(1), pp.1-14.
Stoian, C. and Gilman, M., 2017. Corporate social responsibility that “pays”: A strategic
approach to CSR for SMEs. Journal of Small Business Management, 55(1), pp.5-31.
Venturelli, A., Caputo, F., and Pizzi, S., 2018. The state of art of corporate social disclosure
before the introduction of non-financial reporting directive: A cross country analysis. Social
responsibility journal.
Yakovleva, N., 2017. Corporate social responsibility in the mining industries. Routledge.
Zhang, Q., Oo, B.L. and Lim, B.T.H., 2019. Drivers, motivations, and barriers to the
implementation of corporate social responsibility practices by construction enterprises: A
review. Journal of cleaner production, 210, pp.563-584.