Corporate social responsibility refers to organizations grasping responsibilities regarding their actions and taking an interest in activities that convey positive effects to the environment, in which they work, their employees, consumers, the general members of the public, the communities and their stakeholders. It involves promoting the public in general their interests and eliminating any practices that may harm the general public. The CEO puts into consideration the impacts caused by the organization to the environment, the general public and their profits. Organizations need to act ethically to gain a positive public image (Raman, (2010)
As of late, it has become elegant to allow accountants or any other people to control organizations and, being unimaginative individuals; they have gone for extensive short-term gains at the expense of long-term development and growth and the building and maintenance of loyalty and reputation amongst employees, suppliers, and customers. In the long term, this has driven many organizations into serious trouble. The only way out of this trouble is to embrace building the long-term values of loyalty and reputation hence the invention of CSR.
Ethics in organizations involves activities that are morally upright. Usually, most organizations exercise undertakes actions that do not meet the required ethical guidelines. This is because numerous organizations focus on profit-making instead of some other thing. The activities of some people in an organization could appear to be safe in the short term, but on a long term, these activities could be considered unethical. An example of such a circumstance is the firing of employees to maintain the overall profit margin of an organization high. Such activity is viewed as unethical because; even though the organizations are may be at a loss. The terminating of those workers shows that such huge numbers of people will suffer.
When organizations invest money and time improving their employees' skills, they make an impression on their employees that they want to invest in their future. In return, organizations expect to see increases in job performance, more commitment to the organization and workers who are satisfied with their job.It is described as an emotional involvement in, commitment to, and satisfaction with work (McShane and Von Glinow, 2013, p.124).
Employee development and training often focus on hard skills, i.e., the essential proficiencies expected for one to perform his duties. In any case, great employee training covers soft skills like teamwork, problem-solving, public speaking and leadership hence the unquantifiable abilities important to give organizations a competitive edge. This doesn't come cheap hence the organization has to spend on these training.
Corporate giving programs and volunteering help fulfill an organization CSR mandate and offer workers unique opportunities to participate in efforts to team building and still develop job-related skills. These programs have to be accounted for. Hence they must be included in the budget. The organizations which invest in these employee volunteer programs will see the fruits of that venture. So CEOs and HR managers, as you take a seat with that yearly budget plan, don't forget the main item that always gives more than it receives.Social Loafing happens when a group member exerts less individual effort when doing an addictive task in groups than when working alone (McShane and Von Glinow, 2013, p. 224).
This paper has revealed that CSR is an essential element for any organizations. It has been seen that there is a wide range of areas in which an organization may center its corporate social responsibility. The principal area of focus in corporate social responsibility concerns the environment.CSR venture combines investor’s financial goals, their commitment and devotion to factors that guarantee the well being of society, for example, practices that are environment-friendly and economic growth. These components are parts of CSR, as well as a show of the ethical standards of an organization. It is unethical for organizations to participate in practices that degrade the environment maybe resulting in loss of life or illnesses. It can be concluded that CSR and the support of high moral norms isn't a choice, however, a commitment for all organizations.
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