Concept of Corporate Social Responsibility - Report
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Added on 2020-06-05
Concept of Corporate Social Responsibility - Report
Added on 2020-06-05
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Table of ContentsINTRODUCTION...........................................................................................................................1Responsible management and CSR............................................................................................1Values by ethics..........................................................................................................................3Explore the issue.........................................................................................................................4Advice to company.....................................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONEthics are the moral principles that govern or influence the behaviour of an individual.This is a concept that provide solutions to the questions related with human morality by definethe concept such as right and wrong, good and evil (What is ethics?, 2014). Corporate socialresponsibility is a concept implement by most organisation with the aim of get large number ofbenefits. One of the main advantage of values and ethics is that is guide employees of enterprisehow to behave with customers and make the able to differentiate between right and wrong.Under this enterprise do little more efforts for betterment of society and community. Berkeleygroup holding plc a British developer based in Surrey, is taken under this report for study.Concept of corporate social responsibility and values which must be formulate and adopt bymanagers in order to execute business activities is all mention under this report. Variousrecommendation to Berkeley group holding plc is given under this report. Responsible management and CSRCorporate social responsibility (CSR) is a broad concept which is used to define allefforts of company to improve society or well being of people. Under this an enterprise do morefor betterment of people other than required in legal and economical way. One can say thatconcept of corporate social responsibility is about when an enterprise take the responsibility forthe impacts of its decisions and operations on all aspects of society (Beaumont and Cloke, 2012).This is more than just donate money it is about contribute in welfare of society and its people,operate in a ethical way. It is very essential for Berkeley group holding plc to manage itscorporate social responsibility because this provide number of benefits to company. Thesebenefits can be better understood by following points:Positive impact on community: Concept of corporate social responsibility encouragebusiness enterprises to act ethically and consider the impact of business decision onenvironmental and social impacts. With this Berkeley group holding plc can avoid ordecrease the harmful impact of its business activities on community. Berkeley groupholding plc can find ways to modify its services to deliver more benefits to community.CSR support public value outcomes: Value that an enterprise contribute to society isknown as public value (Banks and et. al., 2013). An effective framework of corporatesocial responsibility help organisations in deliver more public value by focus on howtheir services can make the society a better one or can contribute in its growth. This can1
be done in a direct or indirect method. In a direct method organisation contribute throughits own activities such as volunteersim and in indirect method, service or product of firmenable other individuals to contribute in welfare of society. With the help of CSR conceptBerkeley group holding plc can deliver more public value to its customers. Support being and employer of choice: This feature of CSR transform the ability of firmattract large number of skilled candidates. Different ways and approaches are there toassess being an employer of your choice this include offer positive and healthy workingcondition, workplace flexibility and offer work life balance (Parrott, 2014). Frameworkof corporate social responsibility help an enterprise to become more attractive toinfluence potential employees who are looking for an enterprise which is more involvedin social activities and have sound ethics. Encourage personal and professional development: Offer opportunity to employees toinvolve in social activities help in increase skills of staff members which can be appliedat workplace. By undertake different activities outside the usual work provide anopportunity to workers to contribute to causes and work which they feel passionate about,or they learn something new which enhance their level of knowledge. By support thesekind of activities Berkeley group holding plc can encourage growth and development ofworkers.Create and enhance good relationship with clients: Strong corporate socialresponsibility framework is very essential to build and maintain trust between companyand its clients. All this help in foster strong and effective working relationship withexisting as well as new clients. With this, Berkeley group holding plc can get loyalty ofits customers and can retain them for a long time and a the same time can capture a largermarket share. There is no doubt that concept of corporate social responsibility provide number ofadvantages to enterprise but at the same it give rise to additional cost. First is opportunity cost, asenterprise or invest large amount of financial resources in CSR activities this block the funds ofcompany and sometimes results in lost of profits (Bampton and Cowton, 2013). Second one issunk cost which companies spend to invest in new equipments such as waste water system,safety and health system, upgrade infrastructure and building. Activities include in corporatesocial responsibility increase cost and time of business operation as managers take time to decide2
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