Corporate Social Responsibilities Assignment 2022

Running head: IMPORTANCE OF CORPORATE SOCIAL RESPONSIBILITIES
IMPORTANCE OF CORPORATE SOCIAL RESPONSIBILITIES
Name of the Student
Name of the University
Author Note

IMPORTANCE OF CORPORATE SOCIAL RESPONSIBILITIES1
Topic
The topic of this paper is the importance of corporate social responsibilities in global
business environment. The literature review will be based on this topic.
Literature Review
Meaning of Corporate Social Responsibilities
The term corporate social responsibility is playing an integral part in the global business
environment currently. It helps to underst6and the relationship between the governments of the
nations where an organization operates their business, multinational organizations and individual
citizens. In other words, this term signifies the relationship between a company and the society
where they are performing their business operations (Grayson, D. and Hodges 2017). It also
identifies the relationship between a business house and its stakeholders. In simple words, it can
be said that the responsibilities that the business entities need to perform in the society where
they are performing their daily business operations are regarded as corporate social
responsibilities. It helps to improve the standard of living of the society and to safeguard the
standard of living for the future generations. It helps the management to become socially
accountable to all the people who are associated with the operations of the business, which
includes the employees, the stakeholders and the society where they are performing their daily
business operations. The responsibilities need to be performed ethically and following the rules
and regulations regarding the corporate social responsibilities. The responsibility includes
financial, economic and environment responsibilities, as it is mandatory for most of the
multinational business organizations to create higher standards of living for the future