Enhancing Corporate Social Responsibility: Importance and Types

This essay discusses the concept of corporate social responsibility (CSR) and its importance in contributing to society and protecting the environment. It covers the benefits and drawbacks of CSR activities and explores the four types of CSR activities: environmental, ethical, philanthropic, and economic responsibilities. The essay also highlights the role of CSR in enhancing a company's reputation and customer base.

Enhance corporate
social responsibility

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Corporate social responsibility is the act of performing those activities which help to
provide benefit to weaker section of people as well to protect the environment (Hur, Moon and
Kim, 2020). This is organisational responsibility that they will contribute a part of their revenue
to their society for their betterment. The following report covers essay on corporate social
responsibilities.
MAIN BODY
Corporate social responsibility is the concept of management where companies contribute
a part of their products, services and revenue for society development or else they perform those
activities which will protect their environment. For example, in case a company reduce usage of
plastic bags and cans from their companies will help to protect environment. Hence, it is a CSR
activity by them. Another example is when a company share the proportion of their profit to
develop life of backward people by providing them those items which is needed by them, then it
is also a CSR activity by the company.
Companies have various kind of benefits while performing CSR activities like increase in
reputation, better customer base because customer trust more on those companies which provide
CSR activities (Tamvad, 2020). On the other hand there are various kind of issues also which is
faced by companies like high cost will be required to perform CSR activities, less trust of people
because people do not trust easily if some companies help them for their betterment and many
others.
There are four types of CSR activities which are mentioned below-
Environmental responsibility- Here, companies perform those activities which is good
for environment. For example, here companies plant trees annually or reduce the usage of plastic
bags plastic cans.
Ethical responsibilities- Here, companies treat fair with their employees, stakeholders
and many others. It is one of the most essential responsibility of a company that they must focus
of the rights of employees and provide them all those facilities for which they deserve. Providing
them accurate wages, focusing on their safety and healthy concerns and many others.
Philanthropic responsibility- It is also essential for the company to give back to the
community in which they exist. Hence, here, companies provide those goods and services to
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their existing committee which help them to fulfil their needs and wants and which also help
them to develop their life standards (Wang, Hsieh and Sarkis, 2018).
Economic responsibility- It is also essential for a company to provide transparent
salaries to their employees and mitigate all the issues of employees well.
CONCLUSION
From the above information it is concluded that corporate social responsibilities help
companies to contribute their few efforts for the society and environmental development. Here,
companies provide those goods and services to their society which help them to develop their life
standards. There are many benefits and well as drawback for performing CSR activities. Benefits
include better reputation of companies and drawbacks include that most of the people did not
believe the companies that they are performing CSR activities for society benefit.
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REFERENCES
Books and Journals
Hur, W.M., Moon, T.W. and Kim, H., 2020. When and how does customer engagement in CSR
initiatives lead to greater CSR participation? The role of CSR credibility and customer–
company identification. Corporate Social Responsibility and Environmental
Management, 27(4), pp.1878-1891.
Tamvada, M., 2020. Corporate social responsibility and accountability: a new theoretical
foundation for regulating CSR. International Journal of Corporate Social
Responsibility, 5(1), pp.1-14.
Wang, Z., Hsieh, T.S. and Sarkis, J., 2018. CSR performance and the readability of CSR reports:
too good to be true?. Corporate Social Responsibility and Environmental
Management, 25(1), pp.66-79.
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