Assignment on Corporate Social Responsibility in Business Environment

Added on - 21 Apr 2020

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Running head: CORPORATE SOCIAL RESPONSIBILITYCorporate Social ResponsibilityName of the StudentName of the UniversityAuthor’s Note
1CORPORATE SOCIAL RESPONSIBILITYIntroductionIn today’s business environment, Corporate Social Responsibility (CSR) is considered asone of the major factors. In the recent years, organizational managers consider CSR as a crucialfactor for the development of organizational strategies for the development of the corporationand for the achievement of organization goals and objectives. Thus, CSR can be considered as aneffective framework for the development of strategic framework and business relationship withvarious stakeholders of the companies (Tai & Chuang, 2014). Most of the companies all over theworld are promoting CSR in the companies as it is a crucial mean for reduction of poverty,hunger and disease while bring improvements in the aspects like education, values, equality andeconomic success. For this reason, countries are implementing laws that require the businessorganizations to publish reports based on their exposures to environmental, social andgovernmental risks and their strategies to address them (Saeidi et al., 2015). Thus, it can be saidthat business organizations can improve their performance with the help of effective CSRstrategies. With the assistance of effective CSR strategies, business organizations can increasegoodwill in the market and this process creates positive impacts on the revenue and profitabilityof the companies (Suliman, Al-Khatib & Thomas, 2016). Thus, based on the above discussion, itcan be said that sound financial as well as sustainable performance of the organizations can beachieved with the assistance of appropriate CSR activities that contributes towards the economicdevelopment as well.In case of Malaysia, various activities of CSR have been attracting the attention of manyof the industries after the announcement of Malaysian government regarding CSR in the year2006. In this announcement, the Malaysian government directed all the Malaysian Public Listed
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