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The Need of Corporate Social Responsibility (CSR)

   

Added on  2020-04-13

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Running head: SELF-REFLECTIONSelf-reflectionName of the StudentName of the UniversityAuthor note
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1SELF-REFLECTIONIntroductionThe world today is facing rising social, political and economic crises, which is increasingthe need of Corporate Social Responsibility (CSR)like never before, making it more relevant tobusinesses today. Today’s business growth is getting directly associated with smart investmentsmade in CSR, which is also assisting in attracting and retaining customers and the best talents.CSR is no more just a checkbox in an annual report. It is conventionally perceived as a methodof seeking stakeholder approval and trusted brand recognition. CSR has evolved into becomingone of the tactical pillars for complete business growth (Suliman, Al-Khatib and Thomas 2016). Iwould be discussing in this study about the topic of labor and human rights discrimination insideCSR, taking Apple as a case study, why it should be considered and the different ways in whichit can be given importance. DiscussionI have noticed majorly in terms of CSR that it is hardly mentioned by the companies intheir websites, their reports or their communications, regarding what they are doing in regards toit. I find it quite obvious that this did not come about without any kind of controversy.Approximately a decade ago The Economist published a special report in which it discussedabout CSR, opening with the line: “CSR has won the battle of ideas." But since the thrashing ofCSR by Milton Friedman in the New York Times in 1970, it has been argued by the critics thatcompanies just do not possess the capability of catering to the societal needs beyond theproduction of goods and services at a profit to the stakeholders (Hack, Kenyon and Wood 2014).These critics have always complemented the rise of CSR.
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2SELF-REFLECTIONIf I look at the present business community and the generic enthusiasm surrounding CSR,then the situation does not actually prove the criticism wrong. If I look more closely, a majorityof what the organizations are doing in the area of CSR has never actually transcended the clearcut profit motive of the organizations. I suppose if Milton Friedman visits the present world ofCSR he would actually become very pleased. After all, majority of the CSR activities happenwith the espoused goal of value creation for the business (Orlitzky 2015). Michael Porter hassuggested that instead of just talking about CSR, organizations must concentrate on embracingthis concept of shared value creation (Boulouta and Pitelis 2014).Impact on stakeholdersInside the concept of CSR, human rights hold a very important place, working for thefree and equal rights of dignity and inherent rights for all humans. Inside any business,stakeholder engagement is quite essential for their effort in meetings the CSR standards forrespecting this human rights. Many organizations are having separate systems and procedures forcarrying out a wide range of stakeholder engagement activities. There are certain importantthings that requires attention while consulting stakeholders in major situations, like identificationand assessment of real human rights impact, tracking and reporting about organizational effortsfor prevention and management of these impacts, and designing of effective grievance systemsand remediation procedures (Schrempf-Stirling, Palazzo and Phillips 2016).Issue in an organizationThe simplest reality that I can see is that the CSR that has been adopted by majority ofthe organizations have done almost nothing for convincing the common public that organizationsare actually positively contributing to the society (Su et al. 2016). One such example of an
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