Essay | Corporate Social Responsibility and Sustainability
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Added on 2020-04-01
Essay | Corporate Social Responsibility and Sustainability
Added on 2020-04-01
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Running head: Management theory and practice Management theory and practice
Management theory and practice The essay talks about the corporate social responsibility and sustainability. It explainsthat how CSR and sustainability influence the business activities and operations. It describes therelevant theories and significant of CSR. The Blackmore’s has been selected for the essay. It isan Australian health supplement food company which was founded in 1930. It deals in vitamin,herbals, and mineral supplements food products and sells its products in the market across theAsia countries. The company maintains CSR activities and sustainability in the organization(Espinosa & Porter, 2011). Thesis statement: The essay explains the significance of CSR and sustainability in anorganization. Blackmore’s company has been taken in the essay to explain the best theories andpractices of CSR and sustainability. It provides a strong framework for the organization. Itprotects the interest of stakeholders as well as the organization. CSR is an obligation andsustainability is the social responsibility of the organization (Perez-Batres, Doh, Miller & Pisani,2012). 1) The corporate social responsibility is a corporate business approach which contributes tosustainable development and enlargement by delivering social, economic and environmentalbenefits to all the stakeholders. CSR works as a self-regulatory device where the businessmonitors, analyzes and ensures its business compliance with the strength of the law, national andinternational rules, regulations and ethical standards. It is very important for all the companies,employees and non-profit organization. The corporate social responsibility is a general approachwhich reflects the obligation of stakeholders and society. It is the common purpose to facilitatethe economic and social future through the intended business operations and activities. Therelevant theories of CSR are discussed below (Font, Walmsley, Cogotti, McCombes, & Häusler,2012).Political theory: It is the important theory of CSR which focuses on the connections andinteractions of between society and business. This theory includes the corporate citizenship andcorporate constitutionalism. The corporate citizenship theories play a significant role in businessoperations and activities of the company (Choi & La, 2013). 2
Management theory and practice Integrative theories: These theories depend upon the social demand for its growth and success.Social demand refers to the social interaction with its business and it gives a definite status andlegitimacy. Through this, the company achieves the legitimacy and reputation across the world. Ethical theories: This theory of corporate social responsibility focuses on the ethical needs andrequirements of the organization. It also shows the relationship between society and business fordoing the work from the right way. In this way, the company can provide support to build thegood society across the world (Kolk, 2016). Stakeholder theory: This is the very important theory of CSR and it plays an integral and vitalrole in the company. This theory emphasizes on the business enterprises in order to protect thehuman rights, human development and social welfare. Instrumental theories: this theory is used for the wealth creation. There are three sets ofinstrumental theories. The three groups include the maximization of shareholder value, cause-related marketing, competitive advantages. All these theories can be applied in Blackmore’scompany (Mattsson, 2016). All these theories play a significant role in every organization. These theories can beapplied in the organization to maintain sustainability in the organization. Therefore, thesetheories represent the capacity of an organization to react to the social pressure. TheBlackmore’s uses all these theories to meet long-term goals and objectives and it also helps tobuild the sustainability of the environment. These theories provide morale and job satisfaction toemployees. The business activities are conducted in the right way through CSR andsustainability. It provides the favorable working environment to the people for doing work in theorganization (Willard, 2012).2) Yes, it is true that CSR theories influence the sustainability of the Blackmore’s company.There is a close relationship between sustainability and corporate social responsibility. CSRshows the ethical impacts on the community. On the other hand, sustainability refers to thepreservation of resources to gain the long-term goals and objectives. The company maintains thesustainability in the environment. It is the health supplement company which is providinghealthy food products and services to the people (Ajiake, 2015). The organization is improvingthe sustainability by using the comprehensive and effective corporate social responsibilities. The3
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