Why Does It Pay to Be Socially Responsible in Business? Critical Thinking Skills

Thinking Skills

Table of Contents
INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Corporate social responsibility can be explain as the crucial practice for organisation and it will
lead to have major impact over performance and functioning of business. Companies are
increasingly increase their importance on social responsibility, regardless of whether its
advocating rights, preservation the environment to destroy neediness, on area, public, or global
levels. An essential way to deal with corporate social responsibility is progressively vital to an
organization's competitiveness (Hasan, Wong and Al Mamun, 2022). This is consider as the
concept of management in which company integrate social as well as environmental concern
practices with in its practices operations as well as interaction with its stakeholders. It can get
benefits terms of hazard management, cost investment funds, admittance to capital, customer
relationships, human resource management, and advancement limit. There are different types of
corporate social responsibility that can be classified into four parts environmental, ethical,
philanthropic as well as economic responsibility. It additionally empowers additional social and
environmental responsibility from the corporate area when the emergency has harmed shopper
certainty and the degrees of confidence in business. There are various benefits and advantages
that could be attain by organisation by conducting social responsibility practices. This will assist
in maximizing the shareholders values. It is important for company conduct different types of
social responsibility practices in order to provide benefits to customer, society, environment as
well as other stakeholder. It is crucial for organisation to consider or adopt accurate policies in
order to promote the well being of the society as well as environment. This will assist in reducing
negative impact from the society along with this attracting various investors for the business (Liu
and et.al., 2022). it has been identified that consumers are more active in looking to buy
products or services for the organisation that is performing different types of corporate social
responsibility practices and it will lead to have major impact on profitability of organisation.
This report is based on the topic why does it pay to be socially responsible in business? In this
different aspects of corporate social responsibility has been identified that will lead to affect
performance and functioning of business. In this different claim regarding the critical thinking
skills of selected topic has been identified. In this report proper evaluation of the ideas has been
evaluated in order to gain accurate information for appropriate sources.
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