Corporate Social Responsibility: Legal Obligation for Business

CORPORATE SOCIAL
RESPONSIBILITY

TABLE OF CONTENTS
TABLE OF CONTENTS................................................................................................................2
INTRODUCTION...........................................................................................................................1
ESSAY.............................................................................................................................................1
Body 1..............................................................................................................................................1
Four positive points.....................................................................................................................1
Body 2..............................................................................................................................................2
Four negative points....................................................................................................................2
Conclusion.......................................................................................................................................2
REFERENCES................................................................................................................................4

INTRODUCTION
Corporate social responsibility refers to the management concept where the companies are
integrating the social and environmental concerns in the business operations and for interacting
with the stakeholders. It is the method through which the company achieves balance of the
economic, environmental & social imperatives, addressing the shareholder’s expectations. Every
organisation is required to undertake their responsibilities towards the society1. Businesses make
use of number of environmental resources that belong to the whole society. CSR has been
established to ensure that the organisation are undertaking their responsibilities towards the
society. The report covers the positive and negative aspects of making the CSR as legal
obligation for the organisation to follow.
ESSAY
“CSR should be a legal obligation for business. To what extent do you agree? “
Body 1
Four positive points
Compliance with the practices
The practice of CSR is essential for the society on the global scale. It is essential for the
enterprise to ensure that the CSR practices are followed. Companies were using the environmen-
tal resources from years without making any strong contribution towards the development of the
society or protection of the environment. It is the responsibility of every corporate to ensure that
part of their earnings are spend over the maintenance and prevention of the activities that cause
harm to the society. If the CSR becomes legal obligation all the organizations would be required
to undertake their responsibilities towards the society compulsorily2. This would prevent undue
exploitation of the scarce environmental resources. Organization that are earning high profits
can invest small part of their profits towards the welfare of the society. It will make the compa-
nies to take their roles towards the society instead of being a just a profit making firm.
1 Crane, Andrew, Dirk Matten, and Laura Spence, eds. Corporate social responsibility: Readings and cases in a
global context. Routledge, 2019.
2 Grayson, David, and Adrian Hodges. Corporate social opportunity!: Seven steps to make corporate social
responsibility work for your business. Routledge, 2017.