Development on Corporate Social Responsibility

Running Head: CORPORATE SOCIAL RESPONSIBILITY
0
CORPORATE
SOCIAL
RESPONSIBILITY
System04121
12/27/2019

CORPORATE SOCIAL RESPONSIBILITY 1
Corporate social responsibility is kind of global isolated corporate which is also self-
regulating and its main focus is to contribute to the goals of the society, CSR is a thing which
is considered at an organizational level and it is seen as a privacy policy for the firm and it is
important for the companies to align it with their business model, for an organization or a
firm the implementation of CSR goes beyond the compliance with the regulatory
environment and engages interest to do good for the society. CSR is good as well as bad for
society. Some people like Milton Friedman (1970) have contended that the social
responsibility of corporate is to make a revenue and that the job of management should not
include the pursuit of the public good or social and ethical values. Others argue that the goal
of running a successful business can involve and be consistent with “doing good.” This essay
is going to discuss both sides of CSR (Cheng, Ioannou, & Serafeim, 2014).
Firstly the essay will discuss the importance of CSR for the society as well as the
business, some people highly believe that it is incredibly important that the company
operated in a manner which could help in demonstrating the social responsibility and this is
not a kind of legal need, it’s a kind of good practice for the company to take into
consideration, for example mainly the social as well as the environmental issues. The ethical
practices and social accountability are a significant portion of the business success.
A research done by cone communications and the equality global CSR study in the
year 2015, states that 91 percent of the global customers expect the business to function in a
res[possible manner and to address the environmental and the communal issues, around 84
percent say that they but accountable products whenever it is conceivable for them
The statistics above show that the consumers in the world today are conscious of the
significance of the social responsibility and vigorously buy the products from the business
which operates in an ethical manner (Christensen, Morsing, & Thyssen, 2013).

CORPORATE SOCIAL RESPONSIBILITY 2
Some of the welfares of company social responsibility include, the chief one is the
improved image of public, this is one of the most important things as the first thing any
consumer sees in the brand is in public image of the company on the basis of this the
customers buy the products. For instance: staff of the company volunteering for an hour at the
shows of charity will make a brand that is dedicated to serving others and as an outcome, that
brand will become more favorable to the customers (Kolk, & Van Tulder, 2010).
The next is augmented brand awareness and recognition if a company or brand gets
dedicated to ethical practices that then spread the news, more and more people because for
this reason hear about the brand or the company which again increases the awareness about
the company. The next one is an advantage over the competitors, if a company tries to help
the society and tries to contribute to doing good for the society then the company gets an
edge over the competitors and in such cases the customer switch from other companies and
gets engage In the brand.
The last one is great employee engagement and the benefits for the employs, similar
to the engagement of the customer; a person really needs to be sure that the staffs are
conscious of the CSR plans. It’s established that workers like operational more for a business
that has a good community image than one that doesn’t. Also, by showing that the company
is dedicated to things like the rights of humans, the company becomes much more likely to
entice and recall the top applicants. There are also a variety of welfares for your staff when a
company embraces the CSR activities. The workplace becomes a more optimistic and
creative residence to work, and by endorsing belongings like volunteering, the company
inspires professional and personal development.