Corporate Responsibility and Media

This study explores the link between corporate responsibility and media, and discusses the benefits of corporate social responsibility (CSR) in terms of innovation and consumer values. It also highlights the importance of effective communication for CSR initiatives.

Name of the Student
Name of the University
Author Note

Table of Contents
Introduction................................................................................................................................3
QUESTION 1-...........................................................................................................................3
QUESTION 2-...........................................................................................................................3
QUESTION 3-...........................................................................................................................4
QUESTION 4-...........................................................................................................................4
QUESTION 5-...........................................................................................................................4
QUESTION 6-...........................................................................................................................5
QUESTION 7-...........................................................................................................................5
QUESTION 8-...........................................................................................................................5
QUESTION 9-...........................................................................................................................5
QUESTION 10-.........................................................................................................................6
QUESTION 11-.........................................................................................................................6
QUESTION 12-.........................................................................................................................6
QUESTION 13-.........................................................................................................................6
QUESTION 14-.........................................................................................................................7
Conclusion..................................................................................................................................7
Reference:..................................................................................................................................8

Introduction
This study deals with understanding the theme on Corporate Responsibility. In this
particular assignment, proper emphasis had been given on explaining about Corporate Social
Responsibility. In addition to that, models of CSR had been properly analysed in this study
that includes economic, social as well as ethics and discretionary. Corporate social
responsibility or CSR deals with promoting low carbon society, promoting circular economy,
respecting human rights, reducing the effects on environment.
QUESTION 1-
Corporate responsibility or corporate social responsibility relates to business conscience,
social and environmental responsibilities of the corporate world. Once it was considered an
internal policy of the organisation but as time has passed many international laws have come
into the picture and various organisations have pushed it to a point of no longer individual
initiatives. CSR or corporate social responsibility is basically meant to be a form of self-
regulatory form of corporate (Leipziger, 2017).To be successful, it has to be integrated into a
business model. In the Business Dictionary, it is defined as the responsibility of the industry
towards the environment and the society.
QUESTION 2-
There are four main pillars or models of corporate social responsibility, the four being
economic, legal, ethical and discretionary or philanthropic. Let us discuss the four models
briefly.
The economic model of the corporate social responsibility reflects on the need to produce
products which are beneficial to the society. It explains that if the business is allowed to
produce and market products that are profitable to the society then it will be benefitted the
most.
The legal model of the corporate social responsibility reflects on the need to abide by the
laws and regulations set by the government. It is the duty of every business to follow the rules
set by the agencies of the government. For the greater good of the society, these rules and
regulations act as a balanced and are expected to be abided by (Bizfluent.com, 2019).

The ethical model of CSR reflects on the behaviour of the firm towards the society which is
not mentioned in law. The firm should look after the environmental effects and try to reduce
them and make their approach more environment friendly.
The philanthropic or the discretionary model reflects on the need of the business to support
various sections of the society, to carry out philanthropic activities. The firms should try to
improve the society by donating funds or by providing free education etc.
QUESTION 3-
In the 21st century, corporate social responsibility has become an important topic globally. In
the previous century, corporates have shamelessly exploited the poor and became rich at their
expense. It has been found that embracing CSR helps the business to grow. CSR increases the
rate of innovation, it is very effective at cost saving as most of the time recycled and reusable
goods are taken (Snider et al., 2003). For example, Coca Cola has embraced CSR and is using
recyclable cans to reduce the costs. CSR approaches are also environment friendly.
QUESTION 4-
The main job of CSR is to help the society to look beyond profits and the media has a vital
role to play in this. Media coverage can be useful in recruiting volunteers for the job. It is not
enough for the corporations to do their part in social cause but they also have to let the world
know and inspire others. Here comes the responsibility of the media to cover the events dot
by dot and broadcast it for the whole world to view. The media can be used to publish articles
relating to the mission and the values of the company in promoting CSR
(Managementstudyguide.com, 2019). The company apart from creating advertisements must
work co-operatively with the media to spread the values and the purpose of CSR. Also, the
media can act as a check on the corporations and remind them of the greater good and to
think beyond profits. There are newspapers like The Guardian demanding transparency and
accountability from the corporation in terms of issues related to CSR and this acts as a check
on them.
QUESTION 5-
Let us discuss the upside of CSR. It is seen that engaging in CSR is ultimately beneficial to
the company as increased level of social performance leads to increase in the amount of
funding’s. Investors use the data reported by the companies related to environment, social
and governance practices and on the basis of this they decide the funding’s. The upside of

CSR is considerable, research shows that CSR ensures loyalty of the customers, increased
funding of the investors, employee engagement (Ssir.org, 2019).
QUESTION 6-
Loss of reputation is not desirable by any company so there should be a branch to look after
it. Reputation risk refers to the loss to financial capital, social capital and damaged reputation
of the firm. However there are ways to eradicate the risk of reputation loss. For this one has
to protect the breach in data, be careful about the mishaps in the customer service, satisfy the
demands of the employees in order to keep them happy in turn preventing loss of reputation,
take care of ethical conduct and manage the external issues that can risk the reputation of the
firm.
QUESTION 7-
Brand differentiation is a tool by which a company’s product can be set apart from the market
competition. This can be done by associating a superior performing aspect of the brand with
numerous customer benefits. Brand differentiation is important and it still matters to increase
the success of the brand (Djsresearch.co.uk, 2019). Now the question arises how we create a
brand differentiation. This can be done by researching, conveying the story to the audience,
connecting with the audience and deciding on the aspects.
QUESTION 8-
The Company needs to hire the best talent and retain them. In order to do this, they must
attract the talented people. They must put money into supporting and training the employees,
encourage them on their achievements, think beyond the 9-5 job mentality and manage the
managers (Mckinsey.com, 2019). Flexibility should be encouraged, there should be
constructive criticism as well as appreciation and opportunities for professional development
should be offered.
QUESTION 9-
Corporate reputation and corporate social responsibility are related. The elements of
responsibility is the key driver of reputation. Embracing CSR has a direct effect on the
reputation of the firm .Responsibility might lead to a good reputation. Thus corporate
reputation and corporate social responsibility are two interwoven concepts and converge
towards a common stakeholder framework (Reputationinstitute.com, 2019).

QUESTION 10-
Let us discuss the consumer values and expectations. Customer satisfaction reflects the
expectations of the customer after experiencing a product or service of the company.
Customer expectations are important and to be dealt with seriousness by the company. The
company needs to meet the expectations of the customers (Haaften, 2019). The service needs
of the customers are as follows-transparency, empathy, fairness and information. In order to
provide a decent customer service, the company needs to know their customers, understand
their needs, and meet the demands.
QUESTION 11-
Then there are pressures from the investors. There are demands for corporate social
responsibility from the investors.
QUESTION 12-
There are many ways in which CSR benefits employees by creating employment
opportunities, educational opportunities. There are initiatives by the companies like
volunteering programs which involves employment opportunities. There are ethical labour
practices which is beneficial to the employees. There are internal and external responsibilities
as well. The internal responsibilities include responsibility towards owners, suppliers,
employees and investors (Grazier et al., 2019). The external responsibilities include
responsibilities towards the society, competitors, customers and the government. The external
aspects include community activity, handling of the green issues, markets and marketing.
QUESTION 13-
CSR looks after the environmental friendly aspects of the business. There are environmental
programs like taking initiatives to reduce the company’s carbon footprint. Carbon footprint
can be defined as the amount of carbon dioxide gas released into the atmosphere due to
industrial activities and steps to reduce carbon footprint will help in reducing environmental
pollution. A sustainable environment is important for any business to grow
(Nibusinessinfo.co.uk, 2019). Leading IT companies are taking steps to make use of
renewable sources of energy. The products are expected to have high ecological standards.

QUESTION 14-
Business who practice socially responsible features enjoy many operational benefits but they
require effective communication. This can be done by media coverage, by displaying their
policies on the official website.
Conclusion
At the end of the study, it can be concluded that there is linkage present between
corporate responsibility as well as media. The upside of Corporate Responsibility had been
explained with proper details that includes consumer’s values as well as expectations at the
same time. It has been seen that the companies involved in CSR is found to be more
innovative than its peers.

Reference:
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The Upside of CSR (SSIR). Ssir.org (2019). Retrieved from
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