Importance of Corporate Social Responsibility (CSR)

Running Head: BUSINESS SKILLS
0
Business Skills
CSR Essay
(Student Details: )
2/13/2020

BUSINESS SKILLS
1
Contents
CSR and its Importance.............................................................................................................2
Introduction................................................................................................................................2
Corporate social responsibility at Porsche.................................................................................2
Conclusion..................................................................................................................................5
References..................................................................................................................................6

BUSINESS SKILLS
2
CSR and its Importance
Introduction
The academic essay is based on identifying the importance of Corporate Social
Responsibility (CSR) in this modern business world. In this context, the discussion will
include a detailed discussion about how profit is significant to modern firms while discussing
why CSR is important to business organizations (CSR Porsche, 2020). Generally, CSR is a
kind of global private business self-regulations which aims to add to social goals of activist,
philanthropic, or charitable nature ethically-oriented practices (CSR Hub, 2018). In doing so,
the paper will talk about the firm Porche Automobile Manufacturer (PAM) being one of the
top automobile firms worldwide. Thus, by using some key examples this academic essay will
outline some key types of activities which a business should carry out to become social
responsible organization.
Corporate social responsibility at Porsche
In this context, this section is mainly focused on CSR strategies as well as activities at
Porsche. While talking about CSR, the chosen firm is going to be analysed from the key
stakeholders’ perspectives. It is worth knowing that profit is typically referred to as an
income distributed to the owner into a profitable market manufacture procedure. In addition,
profit is can also be seen as a measure of profitability that is the owner's key interest in the
income-formation procedure of market-production (Gallagher, 2015). In this way, several
profit measures are considered in general use. Likewise, profit is directly related to CSR and
both are equally important to modern firms. From the definition perspective, CSR is a way to
increase an organization’s profits and hence all big companies are proactively involved in it.
In other words, a well-structured CSR strategy is capable to enhance an organization's share
price, stock options and making executives' stock more profitable and thereby all
shareholders happier (Mueller et al., 2012).
In this competitive business world, organizations like Porsche look at CSR in order to
become the most important and successful organization in the world. It is because by looking
at the CSR, they are able to increase profitability, strengthen market presence, creating a
global presence, and thereby increase overall business opportunities (Newman et al., 2015).