Corporate Social Responsibility and Ethical Business Practices

This report discusses the importance of Corporate Social Responsibility and Ethical Business Practices in the modern business world. It covers the topic justification, literature overview, and analytical framework of CSR, including the Triple Bottom Line Theory. The report concludes that CSR is a modern function of business that benefits both society and organizations.

Corporate Social Responsibility
and Ethical Business practices

Table of contents
• Introduction
• Section1 ; Topic justification
• Section2 : Literature overview
• Section3 ; Analytical framework
• CONCLUSION
• REFERENCES

INTRODUCTION
Corporate social responsibility refers to those concept of the
management under which the company involves different types of
social practises and welfare to the part of business. It is one of the
valuable concept of the business which helps to solve number of social
problems of the society. The management of the organisation required
to be spend considerable amount of their profits for different types of
welfare activities in the world. This report is based on the topic “
Corporate social responsibility and ethical business practises.

Section1 : Topic justification
The topic which is chosen here is “ Corporate social responsibility and ethical business
practises” The importance of this topic for the professional as well as academic aspect are very
high as it is one of those topic of the business which always been the part of discussion in
business world. It is one of those topic which makes the organisation unique from the other
organisation of the market. One of the important professional feature of this topic is that the
organisation which conduct their social responsibilities in effective manner then the support of
the authorities and the government becomes part of the business. The management of the
organisation does not find any difficulty while doing their business in market. It helps the
organisation to get support of authorities to get any permission or the license.

Section2 : Literature overview
As per the Nadia Reckmann, the corporate social responsibility is self regulation of the
company which reflects the commitment and accountability of the entity. This helps the
organisation to established long term control on their business which enables them to influence
the number of social issues in the market. As per the author, CSR helps the organisation in many
platforms such as customer attraction, brand perception, and attraction of investors towards the
company. It enables the organisation to retain the talent which becomes the reason for overall
success of the company (Importance of corporate social responsibility,2022). As per this study,
the management of the organisation has done CSR on the basis of four initiatives which is
Charitable work, environmental ethics, ethical business practises and volunteer projects.

CONTINUE..
According to Ellie Collier, CSR refers to the concept under which the
company uses ethical and sustainable practises in their business and
becomes competitive towards different social issues (Benefits of corporate
social responsibility,2018). There are number of benefits are demonstrated
in this report if the management of the organisation has conduct their
business in effective manner. One of the biggest benefit is that it helps to
improve the public image of the company and increases brand awareness.

Section3 Analytical framework
Triple bottom line theory
It is one of the successful theory of the business which enables
the organisation to focus different types of social and environmental
issues along with the business. This theory of the management states
that the business is not focusing on gathering the profit but to make
efforts for the solution of different environmental problems. This theory
of business has divide the objectives into three components such as
profit, people and planet. The brief discussion related to the
components are given below:

Continue..
Profit :- The overall objectives of the business is to earn the revenue from the
operations in capitalist economy. It is very beneficial for the economic development of the
nation which becomes the priority. Most of the companies ended their efforts on this stage of
the business. It is not suitable for the sustainability and social aspects of the society.
People :- It is the second component of triple bottom line which reflects the social
approach of the company towards the society. There are number of stakeholders are present in
the business such as society, government, people, employees and many more. It is important to
satisfy needs of these stakeholders which helps the company to becomes more competitive.

Continue..
Planet :- This component of the bottom line theory focusing on providing positive
impact on the planet by the business organisations. There are number of organisations are
present in the world which are having serious impacts on planet in term of pollution. This
theory enables the organisation to focus on sustainable practises of business.
Argument :- The bottom line theory of the management is one of the important
theory which can enables the organisation to set special and social aspect in the
organisation. The positive part of this theory is that it provides understanding about CSR.
All the understandings and knowledge becomes futile if culture of the organisation does
not have social approach.

Conclusion
It is concluded from this report that CSR is one of the modern function of
the business which not only benefit the society but also helps the
organisation to achieve their objectives. This report concludes number of
sources which helps to provide effective knowledge about the project. This
report also involves bottom line theory of CSR which helps the company to
develop positive approach towards the CSR.

References
• Adnan, S.M., Hay, D. and van Staden, C.J., 2018. The influence of
culture and corporate governance on corporate social responsibility
disclosure: A cross country analysis. Journal of Cleaner
Production, 198, pp.820-832.
• Ali, H.Y., Danish, R.Q. and Asrar‐ul‐Haq, M., 2020. How corporate
social responsibility boosts firm financial performance: The mediating
role of corporate image and customer satisfaction. Corporate Social
Responsibility and Environmental Management, 27(1), pp.166-177.

Online..
• Importance of corporate social responsibility.2022 [Online]. Availaible
through :<https://www.businessnewsdaily.com/4679-corporate-social-
responsibility.html >
•
• Benefits of corporate social responsibility.2018 [Online]. Availaible
through :<https://www.highspeedtraining.co.uk/hub/importance-of-
corporate-social-responsibility/#:~:text=CSR%20demonstrates%20that
%20you're,business%20sense%20to%20operate%20sustainably.>