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BTF5501 Corporations Law CSR Assignment

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Corporations Law (BTF5501)

   

Added on  2020-02-19

BTF5501 Corporations Law CSR Assignment

   

Corporations Law (BTF5501)

   Added on 2020-02-19

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Running head: CORPORATION LAWCorporation lawName of the StudentName of the UniversityAuthor Note
BTF5501 Corporations Law CSR Assignment_1
1CORPORATION LAWAbstractMost companies have been practicing some form of corporate social and environmentalresponsibility with the common objective of contributing significantly towards the well-being ofthe society as it the society upon which the companies not only depends but also impact eitherpositively or negatively. With the growing pressure to cloth Corporate Social responsibility(CSR) as one of the business disciplines and the growing demand that every business initiativeshould have a positive outcome is way too much to expect from Corporate SocialResponsibilities. It further distracts the organizations from its primary objective, which is tobring the social and environmental responsibilities of the companies into line with the purposeand values of the organizations. The CSR programs initiated by the business organizationsenables business to attract clients/customers enhance reputation of the company and improveemployee morale. However, the CEOs and the board must possess adequate knowledge about the advantages andrestrictions of the CSR programs, while selecting an initiative that is beneficial for both thecompany and the community. This research aims at outlining the potential of CSR in evaluatingthe impact of CSR responsibilities of business organizations on the society. The researchprovides a clear outline of the features of the CSR and to what extent fulfilling the corporatesocial responsibilities aids a company to become a good corporate citizenship. It further exploresthe factors that may act as a hindrance for a company to become a good corporate citizenship.
BTF5501 Corporations Law CSR Assignment_2
2CORPORATION LAWCorporate Citizenship: An OverviewThe term ‘corporate citizenship’ is related the fact that companies not only considers theimpact it has on the economy but also considers the impact it has on the environment and thesociety. Corporate citizenships refer to the responsibilities that a business organization assumesbeyond the scope of the commercial relationship that it carries out in its day-to-day activities.The concept of corporate citizenship encompasses both, an economic necessity as well as moralresponsibilities (Tai & Chuang, 2014). Corporate citizenship or commonly known as corporatesocial responsibility is the persisting business commitment made by the business organizations tomake significant contribution to the economic development and behave ethically with a view toimprove the quality of workforce, local community and the society as a whole.Potential impediments faced by companies in becoming a good corporate citizenshipCSR purports to bring about sustainability in the corporate culture and the businessactivities carried on by the business organization in three ways, namely, social, economic andenvironmental sustainability. It is imperative for the business organization to concentrate equallyon the three dimensions to ensure compliance with the corporate social responsibilities.However, there are certain factors or rather potential impediments that tend to prevent thecompany from becoming a good corporate citizenship. On one hand, some of the business organizations consider CSR to be an exterior part oftheir business and on the other hand, some of the organizations regard the corporate socialresponsibilities to be an irrelevant issue for the business (Clapp & Rowlands, 2014). Theyconsider that the main objective of the organizations is confined to customer satisfaction only
BTF5501 Corporations Law CSR Assignment_3

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