Corporate Social Responsibility: Justification, Challenges, and Practices

This presentation explores the concept of corporate social responsibility (CSR) and its importance in enhancing personal and professional development. It discusses the justification for businesses to practice CSR, the challenges they may face, and the pyramid model of CSR. The presentation also highlights the benefits of CSR, such as brand equity and employee satisfaction.

Personal and Professional
Development

TABLE OF CONTENT
• INTRODUCTION
• Justification why business should practice CSR
• Challenges in practicing CSR
• Carroll’s pyramid of CSR
• CONCLUSION
• REFERENCES

INTRODUCTION
Corporate social responsibility is the
concept that suggest every organisation
should contribute towards the society in
which they operate. The main aim of
developing this presentation is to build an
understanding about practices of
corporate social responsibility for the
purpose of enhancing personal and
professional development.

Justification why business should practice CSR
Corporate social responsibility is the set of practices which organisations
undertake to contribute towards the society. It is important for businesses to
undertake CSR activities due to following reasons:
• Enhancing brand equity
• Competitive advantage
• Satisfied employees
• Cost savings
• Customer and employee engagement

Challenges in practicing CSR
Implementation of corporate social responsibilities can be beneficial for the
company, but it also results into various challenges which organisation has to
face while operating in a competitive business environment. The business
environment of United Kingdom specially in retail industry is highly
competitive due to the companies which operate in this environment has to face
various challenges mentioned below:
• Inadequate financial resources
• Lack of support

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• Lack of skilled personnel
Corporate social responsibility includes
sustainable practices which are rare in
current business environment. While
implementing the CSR activities of
sustainable manufacturing and packaging,
companies face the challenge of not having
skilled workforce who can assist in
sustainability movement.

Carroll’s pyramid of CSR
There are various corporate social
responsibility practices which an
organisation should implement in
their operations. The pyramid model
of Carroll provides a clarity in these
practices by classifying all the
practices into four categories

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• Economic Responsibility
This is the lowest level of the
pyramid which states that every
business has the major responsibility
of being profitable. Without being
able to earn profit, an organisation
cannot contribute towards the society
due to which it important to gain
reliable profits.

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• Legal Responsibility
This level of the pyramid states that
every organisation is responsible to
obey all their legal obligations. These
obligations include payment of taxation,
fulfilment of health and safety
requirements, appropriate payment of
wages according to the minimum wage
rate and many more.

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• Ethical Responsibility
These responsibilities are not related
with the legal requirements but the
duties which must considered by
organisation to operate sustainably.
Companies should not discriminate
between their employees on the basis
of race, religion, gender etc..

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• Philanthropic Responsibility
Under this responsibility, businesses
should ensure to reduce their carbon
footprint on the organisation. This
responsibility can be fulfilled by
implementing the practices of using
electronic machineries, reducing the
use of pollutants, reducing the use of
plastic and many more.

CONCLUSION
From the above presentation, it has been concluded that every organisation
should practice corporate social responsibility as it will help them in gaining
brand equity, enhancing brand image, satisfying employees and customers. It
has been also found from the above presentation that while implementing CSR,
there are few challenges which companies might face which are lack of skilled
employees and support of government authorities.

References
• Cheng, B., Ioannou, I. and Serafeim, G., 2014. Corporate social
responsibility and access to finance. Strategic management journal.
35(1). pp.1-23.
• Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social
responsibility: Readings and cases in a global context. Routledge.

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• Grayson, D. and Hodges, A., 2017. Corporate social opportunity!:
Seven steps to make corporate social responsibility work for your
business. Routledge.
• Marquis, C. and Qian, C., 2014. Corporate social responsibility
reporting in China: Symbol or substance?. Organization science. 25(1).
pp.127-148.

Thank you