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Assignment on Corporate Social Responsibility (pdf)

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Added on  2021-04-17

Assignment on Corporate Social Responsibility (pdf)

   Added on 2021-04-17

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Running head: CORPORATE SOCIAL RESPONSIBILITYCorporate Social ResponsibilityName of the StudentName of the UniversityAuthor’s note
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1CORPORATE SOCIAL RESPONSIBILITY1. Introduction Business organisations are shedding the model of business where the finance and theeconomics of the company received the focus of interest, increasingly corporate are realisingtheir duties and obligations they have towards the society (Cheng et al. 2014). Corporate socialResponsibility is a concept that is coined in order to change the approach of the businessorganisations from a finance perspective to a more sustainable direction. Business organisationshave an evident impact on the society, the environment as well as on the economy hence thecompany should consider the importance of all the three aspects without giving preference to justthe financial aspect of the business. Sustainable development is the foundation of the concept. Itcan be defined as the acknowledgment of the obligations one has towards the environment andthe society (Benn et al. 2014). The resources that are used by an organisation depend upon theenvironment or the society therefore it is the responsibility of the organisation to ensure that theygive back and understand the duties they have towards the source of their resources (Choi et al.2013). 1a. Important points addressed in the article This article as a culmination of the concepts of Corporate Social responsibilities that isresearched by authors in order to understand the depth and insight of the subject as acontemporary topic in business management there is scope for the topic to be further researched.The first point that is being highlighted by the authors is to understand the theory oforganisational purpose, in this case there are six values that have been highlighted by the authorsthat will help or guide the companies to achieve their objectives or aims, these values are:dignity, solidarity, plurality, subsidiarity, reciprocity, and sustainability. To make the purpose of
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2CORPORATE SOCIAL RESPONSIBILITYthe organisation a defining feature the company should incorporate subsequent behaviour andstrategy (Mair and Hehenberger 2014).Another issue that has been highlighted is the generation or creation of the image orreputation of the company and how business organisations seek leverage and benefit from suchsocial evaluations. This article also highlights the section where business organisationscontribute responsibly towards the society and the environment. According to Ernst and Young(2012), there are two rising trends that are observed in the industry first is the popularity ofacceptance of the concept of CSR and making it and incorporating it as a dedicated function ofthe organisation and secondly, organisations have incorporated the involvement of the employeesin the CSR activities that are undertaken. 1b. Important/ significant of the articleThe issues that have been addressed in the article are as follows: it is hard to measure theeffectiveness of the activities that are undertaken by the organisation. And this ambiguity in theimpact is elevated when the investment process is short term. This gap in the measurement maybe due to the internal environment factors in the organisation that do not allow companies tomonitor their sustainability impact. There is also a gap in the clarity of the goals that are set bythe organisation in terms of sustainability which in turn makes it difficult to understand thesuccess indicators.Another issue that has been observed by the authors is that the companies face an issuewith the financial resource as the concept of sustainability is multi-dimensional; it is not possiblefor an organisation to focus on all the issues that are prevalent in the society or environment(Wang et al. 2016). This situation involves several stakeholders of the organisation and hence
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