Social Responsibility of Business

This document discusses the importance and impact of social media in corporate social responsibility (CSR) and explores the different approaches to social responsibility in business. It also highlights the relationship between sustainable development and CSR, as well as the efforts made by business entities to become socially responsible. The document concludes with a reflection on the overall study of corporate social responsibility.

Social
Responsibility of
Business

Table of Contents
TASK A...........................................................................................................................................1
SEMINAR 1.....................................................................................................................................1
Preparation...................................................................................................................................1
The seminar discussion................................................................................................................1
Short reflection.............................................................................................................................2
SEMINAR 2.....................................................................................................................................2
Preparation...................................................................................................................................2
The seminar discussion................................................................................................................2
Short reflection.............................................................................................................................3
SEMINAR 3.....................................................................................................................................4
Preparation...................................................................................................................................4
The seminar discussion................................................................................................................4
Short reflection.............................................................................................................................4
TASK B...........................................................................................................................................5
Reflection on the material above relates to the study of corporate social responsibility overall.5
REFERENCES................................................................................................................................6

TASK A
I have attended different seminars in the term 2 which were the key turning point for my
academics and helped me to develop my understanding of different elements which were
discussed in them.
SEMINAR 1
Preparation
There are various sources which were studied by me for the purpose of preparing for this
seminar. I visited the website of econsultancy where I got detailed information of the companies
which are having excellent social media strategies. While preparing for the seminars I tried to
brush up my knowledge for the topic which will be discussed in them (Crane, Matten and
Spence, 2019).
The seminar discussion
The first seminar was based upon the relationship of social media and CSR. According to
it social media is an application which is operated with the help of internet and help users to
establish relationship, visibility and create profiles to get detailed information about the
celebrities or famous personalities. Corporate social responsibility is a process of fulfilling all the
responsibilities which are required to be fulfilled by the companies against the society. For this
purpose, most of the companies contribute a fixed percentage of their salaries for the
development of the society so that a positive market image could be established. A proper and
well structure CSR strategy helps companies to attain competitive advantage in the market and
also results in higher revenues, profits, productivity and reduced costs (Cheng, Ioannou and
Serafeim, 2014).
There were various key elements which were discussed in the seminar and one of them
was related to importance and impact of social media in SME such as Airdri which is a small
company. Such types of businesses are considered as the major part of improvement and
development of society. If large companies such as Tesco are not able to generate profits due to
economic disasters then SMEs can help the countries to overcome the problems by operating
business in systematic manner. Most of the SME owners hesitate to be on social media as for
promotions as they think that it will not help them to become popular.
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The major issue which was discussed in the seminar was that is it important for
businesses to be on social media and are there any challenges for SMEs such as Airdri related to
it. It was discussed in detail and the speakers said that yes it is very important for small
businesses to be on social media as it can help to spread awareness about the brand and attract
large number of customers (Grayson and Hodges, 2017). The major challenges which are faced
by business owners are related to the best platforms, content to be posted, cost of it and the way
in which value of it could be measured. All these points were discussed in the seminar and I do
not disagree with any of them because according to me it is very important for businesses to be
on social media.
My contribution for the seminar was related to the platforms where SMEs can market all
their products on social media. These are Twitter, Linkedin, Instagram, Facebook etc. All of the
allow the companies to post relevant content and promote themselves.
Short reflection
On the basis of attended seminars I have analysed that Corporate Social Responsibility is
required to be fulfilled by all the companies as with the help of it they will be able to achieve
competitive advantage. It is also beneficial for small business entities as it can help them to
attract large number of customers.
SEMINAR 2
Preparation
I have read about corporate social responsibilities on different websites and analysed the
way in which business entities contribute in them for the purpose of establishing positive market
image.
The seminar discussion
This seminar was based upon sustainable development and corporate social
responsibility. It was mainly based upon relationship of both the elements because by making
contribution in CSR activities an organisation for example Ragus Sugars can reach to sustainable
development. If a company such as Volkswagen is not taking part in societal welfare processes
then it will be very difficult for it to achieve sustainability for the business (Hopkins, 2016).
There were various business scandles such as accounting fraud which has inspired individuals to
pay more attention towards the CSR activities of companies in which they are interested. In order
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to reach the long term sustainable development it is very important for business entities to make
sure that business in operated in honest and fair manner.
UN's Millennium Development Goals were also discussed in the seminar in which all the
companies are required to make efforts against different elements. These are related to the
reduction of child morality, improvement of maternal health, development of global partnership,
eradicate poverty and hunger, achievement of primary education etc. The main issues which
were discussed in the seminars were lack of awareness of these goals and for the resolution of
these goals it is very important for legal authorities to take initiative. The steps to achieve
sustainable development goals were discussed in the seminar which will help the world to
achieve sustainability (Kim, Li and Li, 2014). The major steps which should be taken by
individuals to reach the goals are ending poverty, hunger, making sure that healthy life is
provided to all the people, achieve the higher level of gender equality etc.
The major point of concern which was discussed in the seminar was that in year 1990
around 47% individuals were living their daily life for less than 1.25 dollars which is very low
and a major point for concern. The main of SGD is to reduce the poverty up to zero till 2030 and
I don't think that it is possible because according to me it will be possible with some strict and
effective actions and governmental parties are not showing that type of enthusiasm for the same.
My contribution for the seminar was gathering information about gender equality and
empowering women. In most of the areas in the world females are still not allowed to go out and
study and I don't think that it is the right think. Study of most of girls is stopped as the parents
can afford the education of one child and they prefer to send their son to school rather than a girl.
I paid attention towards this issues which was appraised by all the others as it is a serious issue
(Korschun, Bhattacharya and Swain, 2014).
Short reflection
From my point of view sustainability and corporate social responsibility are linked with
each other as with the help of both of the an organisation can reach to the long term business
goals successfully.
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SEMINAR 3
Preparation
While preparing for this seminar I have gathered detailed information about different
elements which are required to be discussed in it. These are efforts of business entities which are
made for becoming socially responsible.
The seminar discussion
The last seminar which is selected for the purpose of writing a Write Up is based upon
four basic approached to social responsibility. A SME for example Red and Blue Restaurant
which is highly responsible in social terms will always remain ethical and put morals before
profits. In this seminar different approaches which could be used by SMEs such as Red and Blue
restaurants for the purpose of becoming socially responsible. These are obstructive, defensive,
accommodating and proactive.
A company which is focusing upon obstructive approach do not make the efforts to
become responsible in social context but the profit is mainly focused by it. The companies with
defensive approach considered as neutral as they generate profits by performing all the
operations in such manner which is socially responsible. The organisations which are using
accommodating approach pay more attention towards social responsibility and give it preference
same as profit generation. Proactive companies focus upon becoming socially responsible and
put it before profit.
In order to become a company with higher level of sustainable development it is very
important for management to make sure that social responsibility is fulfilled by them. According
to me if an organisation is following the obstructive approach then it will not be able to fulfil all
its responsibilities for society as it will be focusing upon the process of profit generation and due
to this it public image may get harmed (McWilliams, 2015).
Short reflection
In order to be a socially responsible company it is vital for companies to make sure that
appropriate approach is used by them from obstructive, defensive, accommodating and proactive.
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TASK B
Reflection on the material above relates to the study of corporate social responsibility overall
From all the seminars I have learned various things about corporate social responsibility
and I think that it will be beneficial for all the business entities to make contribution in CSR so
that higher level of sustainable development could be acquired. With the help of it a positive
image in the market could be established by an organisation which is highly involved in such
activities. According to me corporate social responsibility is required to be fulfilled by all the
companies because with the help of it they can fulfil all their responsibilities for the society.
Most of the enterprises are contributing a specific amount for the development of society
as they are fulfilling all their responsibilities for the society. The first topic which was discussed
in the seminar was social media and CSR and in the whole seminar there was no discussion
about the relation of both of them but the content which are discussed was related to social
media. I think that the discussion was very good but the relation between these two elements was
required to be discussed in the first seminar.
Second seminar was based upon sustainable development and CSR which was totally
based upon these two elements. With the help of it I have analysed that if a company is willing to
achieve competitive advantage then it is very important for it to make sure that it is taking part in
CSR activities. It will help to make sure that higher level of sustainable development is attained
by performing such operations which are focused with societal welfare.
The forth seminar was also beneficial for me to enhance learning about social
responsibility and with the help of it I have analysed that for all the companies it is very
important to adopt appropriate approach for CSR. It will help to present a positive image in the
market which will be beneficial for the attainment of long term business goals. If an enterprise is
not socially responsible then it may result in various consequences such as bad image in public,
decreased profits, sales, productivity and employee engagement.
I think that some of the significant aspects of CSR have not been touched in the student
led seminars. These are the ways in which initiatives for making contribution in societal
development could be taken. If the steps to make contribution in CSR would have discussed in
the seminars then all of them would have enhanced knowledge of all the attendees about the
initiatives which could be taken by them in future.
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REFERENCES
Books and Journals:
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.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make
corporate social responsibility work for your business. Routledge.
Hopkins, M., 2016. The planetary bargain: corporate social responsibility comes of age.
Springer.
Kim, Y., Li, H. and Li, S., 2014. Corporate social responsibility and stock price crash
risk. Journal of Banking & Finance. 43. pp.1-13.
Korschun, D., Bhattacharya, C. B. and Swain, S. D., 2014. Corporate social responsibility,
customer orientation, and the job performance of frontline employees. Journal of
Marketing. 78(3). pp.20-37.
McWilliams, A., 2015. Corporate social responsibility. Wiley encyclopedia of management,
pp.1-4.
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