Role of Corporate Social Responsibility (CSR) Report 2022

Running Head: CSR 0
Managing across Border

CSR 1
Role of Corporate Social Responsibility (CSR) in today’s world
Corporate social responsibility is such business practices that tend to incorporate the
sustainable development. It puts the positive impact on the economic, social, and
environmental factors. It is an opportunity for the company to protect itself with the several
risks presented outside. It is said to be the self-regulating model of business that assist the
company in becoming socially accountable. Several companies including Starbucks are also
known for fulfilling the corporate social responsibility in an effective way. It has also
achieved the several milestones by producing the ethically sourced coffee (Lim &
Greenwood, 2017). It sin true that the different organisation have different definitions for
CSR. In the CSR, companies are required to answer two things. The first one is management
quality in terms of processes and people. Other one is the quality and nature of the impact on
society. CSR is also proved to be best in order to maintain the positive relationship with the
customers. By having the clear CSR policy, it can also significantly affect the purchasing
decisions of the customers. There are times when customers even ready to pay the higher
price than the actual price (Cramer, 2016).
It is true that business is the significant part of the society. Every business
organisation affects the survival of the people, natural resources as well as their surrounding
in some or other way. Business houses in recent time are required to take the several
responsibilities besides generating profit. due to the decline in the public trust, it becomes
easy for the organisations to create job opportunities to the economy. In the recent time,
every public is too much conscious about the social problems, environmental issues as well
as about the social justice. Public also expect to be more open and accountable. Due to this,
CSR has become the significant part of conducting the business. Whenever CSR policy is
implemented effectively, it tends to attract the positive publicity. CSR also requires the
effective engagement with the internal as well as external stakeholder. Every organisation
wants to grow and innovate. By adhering to innovative measures of CSR, it helps the
organisation to create such environment (Llamas & Jomo, 2018).
Taking into account the example of McDonalds, that stands aside from the huge
competition by fulfilling its CSR. McDonald’s as the leading company is able to succeed by