Social Responsibility of Business- PDF

Social responsibility of business

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Concept the range of business social responsibility....................................................................3
The model of social responsibility..............................................................................................6
Evaluate the ethical and sustainability........................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Corporate social responsibility is the self-regulating business model which is help to
company to be the socially accountable. This providing the positive impact to the society through
adapting the economic, political and environmental effect on the best manner. The main purpose
of conducting CSR activity in the business is that it help companies and business to behave
ethically with people by carrying various activities from the fair perspective. The present report
must be based on the UK's small medium enterprises and its are engaged with less than 250
employees who are working under the company in effective manner. For the report here is select
PMW communications which is full services marketing agency in UK. This company is help to
people in order to achieve their goals in the company and market life.
MAIN BODY
Concept the range of business social responsibility.
The corporate social responsibility is the concept where companies are integrated social
and environmental concerns in their business operations and interactions. The SMEs needs to
realize the CSR is must important but not for spending about money. It is the attitude and excuse
of being the small with only prevent the SME form becoming world-class. SME have equal
responsible towards improving leaving conditions better for their employees and new hires who
have really needed to earn money in effective manner (Belal, 2016). The small business really
need to spend money in CSR activities for compete in market place and attract more customers
towards business and its growth factors. This is more important and effective for the business are
for small medium enterprises in UK. The importance of CSR as follows:
 Attract, retain and motivate employee by engaging them in CSR activities.
 This help to enhance brand and reputation at marketplace in effective manner.
 This promotes customers and brand loyalty of business in effective manner.
The triple bottom line approach has proven the successful tool in the business for developing
medium business to assist them in meetings social and environmental standards without
compromising with their market competitors.
Triple Bottom Line:
Triple Bottom line theory is the best framework which is recommends that companies
commits in order to focus on the social and environmental with higher profit margin in proper

manner. This has three components which are important for considering in the business to PMW
which are as follows:
Profit:
Profit is the traditional measures of the corporate profit by measuring what is actual profit
and loss of SMEs like PMW communications which is marketing agency to providing the best
service to customers by satisfying their employees in effective manner (Crane, Matten and
Spence, 2019). The company is motivated through seeing their profit margin in the business
which is beneficial for economic growth of company.
People:
People are measures by the social responsibility of organization that has throughout their
operation which are followed by company to complete with their competitors in effective
manner. This may measures by contribution of business in social and ethical responsibility. It is
very hard to calculate and report reliably (Demirag, 2018). This is effective and valuable for the
company and its growth factors. Thus, it reflects that organization have to use proper rules and
Illustration 1: Triple Bottom Line
(Source: Elkington's Triple Bottom Line (CSR), 2018)

regulations like healthy and safety act and customers protection act for best result of work. It is
beneficial for the business and its growth factors.
Planet:
Planet measures like environmentally responsibility of small medium business like PMW
communication. This is measures by the impact of the business activities on the environment.
That is more tangible by using sustainable inputs in business and its growth factors. The
company have to be the more responsible for social corporate responsibility. In that, organization
must concerns towards environment behaviour of company like waste dedication is help to save
environment and innovate more effective herbal products to company. Thus, it helps to attract
more customers towards innovative and creative ideas for business and design products.
In case of stakeholder theory v/s shareholders theory has the main difference as per work
which is stakeholder theory is stated that the company is more responsible to a wider group of
stakeholder like employees, managers and management of company (Grayson and Hodges,
2017). They make proper control on the business and contribute for its success. On the other
side, shareholder theory is refers a sole responsibility of the business which is contributed to
increase profit margin. In respective manner, the Friedman v/s Freeman theory is reflected on
the shareholder and stakeholder theory.
The Friedman theory of shareholder is support to the shareholder and Freeman theory is
support to stakeholder theory in the CSR policy. This is effective and valuable for the business
and its growth ion respective manner. The Friedman is the stated that the main motive of the
organization is the to build and increase profit margin of the company but not engaged with the
needs and wants of customers (Harjoto, 2015). On the other side, Freeman is stated that the main
motive is make control on the business activities and ensure about the work is in the discipline
manner or not. This is effective for small medium enterprises like PMW communication firm.
But they manager and business has to be performed in the social responsibility which is
important and effective for the business and its growth factors. In such manner, CSR activity are
covered under following points which is to be useful for SME as:
 It result in providing security at work places and also get medical help in case of any
incidents occurs
 Provides quality products with less cost.

The model of social responsibility.
The Carroll's CSR Pyramid is the simple and easiest framework that is help to argue that
the organization should meet their social responsibility in business for fulfilling the business
needs in the effective manner. The key feature of the model is to build foundation of profit which
must be come first in effective manner. Through this model it helps, SME organization to gain as
many profits and also manage their business to retain in market for longer time period. This
model mainly carries four stages such as:
Economic responsibility in CSR:
This is the main responsibility of the business to be the more profitable in the
marketplace. For the PMW communication provider company is small medium enterprise in the
UK. That have to be concerns with the economic responsibility is like survive and benefits
society in the long term business and goals of the business and its growth factors ( Jamali, Karam
and Blowfield, 2017). In this company need to be produce products and services which are
needed by society and selling them in making a profit in higher margin.
Legal responsibility in CSR:
This is the responsibility which is obeyed the laws and other regulations like
employment, competition and healthy & safety act. This is effective and valuable for the
Illustration 2: Carrollls CSR pyramid
(Source: Carroll’s CSR Pyramid and its applications to
small and medium-sized businesses, 2015)

business and its growth factors it created for business safety. The CSR activity is more
considering in the business growth is like employee has injured at workplace in that company
have to be compensated them for better result of work. The company should be worked under
rules and regulations for better result and it should be the take care of employment in better
manner.
Ethical responsibility in CSR:
The ethical responsibility in the CSR activity is make the greatest concerns with business.
In that business has to be made effectiveness of the business by concerning all ethical behaviour
of employees towards customers. The ethical behaviour of employees is gives positive impact on
the customers which is more profitable for the business and its growth factors is in the effective
manner (McWilliams, 2015). That should be the more important for SMEs to work and behave
ethically with employees like morally and ethically its should impact positive is like treatment of
suppliers and employees.
Philanthropic responsibility in CSR:
This is the responsibility to give back to safety is like charitable donations and staff time
on the project. It is refers and linked up with the luxurious things like improving quality of life
of employees, local communities and society is in the effective manner. That should make
quality. The small medium enterprise is like PMW communication is have to ensure about the
work equality is in the effective manner (Petrenko, Ridge and Hill, 2016). That is completely
important for the business and its growth factors. This plays an important for employees of
SMEs in effective manner.
This theory is stated that the same aspects of the leadership can have a direct effect on the
unethical behaviour in that case company have to be connected and engaged with Social
Corporate responsibility is the important think to do in the best manner with great aspects. The
companies are more engaged more in the strategic CSR than average companies.
Evaluate the ethical and sustainability
Ethics are more important and effective for the business and its growth factors. That is
considers in respect of business to make and build effective interest of customers and employees
by motivating them in the effective manner. This help to maintaining effective interest of
customers toward company in effective manner (Unit, 2015). The company may implement
various ethics or their employees so that they are able to work accordingly as per company

norms and regulations in respective manner. The companies have to be engaged with norms and
laws to maintain culture values of company in effective manner. The result of this in the
effective manner that should be in proper manner by working in the systematic manner and
through the legal activities also recommend people to work under the ethical rules and
regulations.
In context of SMEs, companies have to be with effective work in regards with needs and
wants of employees in proper manner. That are plays an important role in the business and its
growth perspectives. They had to be managed the ethical values by providing attractive people to
retain their interest in respective manner. There has different types of ethical values, programs,
attributes, norms which are important to sustainable growth of company in effective manner. It is
very important for the business in the respective manner. In context of CSR, ethics are important
as through the aspect of maintaining confidentiality in information and also it motivated other
employees to work as team instead of having different culture of people working in that same
premises. It is important to manage by company to produce growth of company.
CONCLUSION
From the above study it's had been concluded that the ethical behaviour has important for
the business and its growth factors because it considers growth of company at to effectively work
consideration. It had been concluded that the ethical and social responsibility has to be important
for business because that had played an important role. The Friedman and Freeman theory of
stakeholder and shareholder has present their own perspectives in effective manner. That had
gives effective values for business growth. It had been concluded that the shareholder theory had
pretend to increase profit margin of the company and other stakeholder theory had showed that
the controlled on employees and staff to be maintained discipline in the company in the effective
manner. It had been shows the business and its growth factors to be discussed in effective
manner for the further growth aspects. It had been also concluded that the Carroll CSR Pyramid
had present the four respect is like Ethical, legal, economical and philanthropic aspects. That had
completely guided to employees for effective work concept is in respective manner. This could
be important for small medium enterprise to be work under social responsibility in respective
manner.

REFERENCES
Books and Journals
Belal, A. R., 2016. Corporate social responsibility reporting in developing countries: The case
of Bangladesh. Routledge.
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and
cases in a global context. Routledge.
Demirag, I. ed., 2018. Corporate social responsibility, accountability and governance: Global
perspectives. Routledge.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make
corporate social responsibility work for your business. Routledge.
Harjoto, M., Laksmana, I. and Lee, R., 2015. Board diversity and corporate social
responsibility. Journal of Business Ethics. 132(4), pp.641-660.
Jamali, D., Karam, C. and Blowfield, M., 2017. Introduction: Corporate social responsibility in
developing countries: a development-oriented approach. In Development-Oriented
Corporate Social Responsibility: Volume 2 (pp. 1-12). Routledge.
McWilliams, A., 2015. Corporate social responsibility. Wiley encyclopedia of management,
pp.1-4.
Petrenko, O. V., Aime, F., Ridge, J. and Hill, A., 2016. Corporate social responsibility or CEO
narcissism? CSR motivations and organizational performance. Strategic Management
Journal, 37(2), pp.262-279.
Unit, B., 2015. Corporate social responsibility.
Online
Elkington's Triple Bottom Line (CSR). 2018. [Online]. Available through:
<https://www.tutor2u.net/business/reference/csr-elkingtons-triple-bottom-line>
Carroll’s CSR Pyramid and its applications to small and medium-sized businesses. 2015.
[Online]. Available through: <https://research-methodology.net/carrolls-csr-pyramid-
and-its-applications-to-small-and-medium-sized-businesses/>