Corporate Social Responsibility and its Practices

Business Law and
Ethics

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CSR- meaning and definition......................................................................................................3
CSR Practices..............................................................................................................................3
Does corporate social responsibility go beyond philanthropy etc. and if it does go beyond that
how does the modern corporation go beyond philanthropy and compliance..............................4
Is what corporations are doing well just in public relations or is it actually making a
difference.....................................................................................................................................5
If this CSR re-branding is purely a Public relations exercise, then what are they doing badly
still...............................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Commercial laws as well as ethics are vital regulatory frameworks that are basically enacted
to regulate the functioning of companies. The business laws can be referred to as the body of
rules, regulations and guidelines which offers corporate and civil laws so that smooth running of
the business is ensured. It generally implicates the corporate performance that emphasizes on the
working process as it dictates the formation and running of the business entity. The laws which
deals with corporation are derived mainly from agreements, convention and national as well as
international laws which focuses on governing dealing between the people in context to
commercial matters. These comprises of two areas which varies from each other and includes
firstly the regulations of the commercial ventures through company, bankruptcy and partnership
law and secondly the regulations of the commercial transaction through contract law and other
related fields (Kraus, Rehman and García, 2020). This report shall deal with corporate social
responsibility and how companies use their profit and make it by way of CSR. It covers the
relationship between the corporate responsibility and behaviour in context to CSR.
MAIN BODY
CSR- meaning and definition
It is termed as the practice that helps in integrating the social and environmental concerns
in every business practice and operation so that the companies can be helped in having the
adequate amount of interaction with the stakeholders. Through this, the organization can gain
some sort of advancement as well as strive a balance in the areas such as social, environmental
and economic. These are implemented by the companies so that the stakeholder’s issues are
addressed properly as it is aimed to bring the distinction between corporate social responsibility
which may be implemented in every strategic management of the business, charity and some of
the other concepts that relates to the philanthropy as well as sponsorship (Feng, Zhu and Lai,
2017). It also contributes in such practices that is aimed to enhance the goodwill of the
organization by way of maintenance of its strength so that moral and ethical objectives of
company.
CSR Practices
There are different practices relating to corporate social responsibilities which are led by the
companies. These include the following-