Report on Business Law and Ethics: Corporate Social Responsibility

This report provides an overview of corporate social responsibility (CSR) and its significance in business law and ethics. It highlights the positive impacts of CSR on business performance, public image, branding, and competitive advantage. The report also discusses the relationship between corporate behavior and corporate social responsibility, emphasizing the importance of ethical conduct and stakeholder engagement. Furthermore, it explains how CSR benefits employees, customers, and society by providing working opportunities, high-quality products/services and improving living standards. The analysis emphasizes that by integrating social and environmental concerns into business operations, companies can enhance their reputation, build trust, and contribute to sustainable development. Desklib offers additional resources, including past papers and solved assignments, for students seeking to deepen their understanding of CSR and its implications.

Business Law and Ethics

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Corporate social responsibility can be describe as the practices and task performed by business in
order to full fill their responsibility towards business. This is one of the crucial and important
part of business that will lead to have positive impact on overall performance and productivity of
organisation (Vătămănescu and et.al., 2021). It is essential for companies to consider social,
economic and environmental impacts in order to perform organisational practices in positive and
effective manner. This report includes information regarding the significant for the corporate
social responsibility. Apart from this relationship between corporate behaviour and corporate
responsibility has been determined in accurate manner.
MAIN BODY
Corporate social responsibilities lead to have major positive and significant impact over
business and this will help in enhancing and improving overall performance of business. It is
crucial for business to consider its impact on social, economic and environmental factors. It has
been analysed that Corporate social responsibility encompasses not only what companies do with
their profits, but also how they make them. This is not only compliances and philanthropy along
with this it is important to addresses how companies are managing its social, environmental and
economic impact while performing and conducting business practices. It has been determined
that corporate social responsibility is significant for improving workplace practices, market
place, supply chain along with the community and public policy realm. Corporate social
responsibility can be describe as the concept of management where companies integrate social as
well as environmental concern with the motive of performing business operations as well as
interactions with the stakeholders. It's unbelievably significant that your organization works in a
manner that exhibits social responsibility (Endrikat and et.al., 2021). In spite of the fact that it's
anything but a legal prerequisite, it's viewed as great practice for you to consider social and
environmental issues. Social responsibility and moral practices are crucial to your prosperity.
However significant as CSR seems to be for the local area, it is similarly important for an
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organization. CSR exercises can assist with create a more grounded connection among
employees and corporations, support spirit, and help the two employees and managers feel more
associated with their general surroundings. This is crucial for accomplishing balance of business
with the economic, social and environmental aspects. There are various benefits and advantages
that could be accomplish by company by effectively conducting corporate social responsibilities.
It has been analysed that corporate social responsibility is significant for increasing public image
of company and it will lead to have major impact on overall performance and productivity of
business. This is vital, as consumers evaluate public image when concluding whether to purchase
from you. By conducting different corporate social responsibility practices organisation will be
able to develop positive image in market area and this will help in attract more customers to
business. Something basic, similar to staff individuals volunteering an hour seven days at a
cause, shows that a brand focused on helping other people. Subsequently business show up
substantially more ideal for consumers (Beji and et.al., 2021). It has been determined that
corporate social responsibility is effective and crucial for branding business activities and it will
assist in creating good reputation of the business in market area as well as significant influence
customer perception regarding business and its practices. Brand image will lead to have
significant influence over business and it will assist in creating better relationship with
customers. It has been identified that by accepting corporate social responsibility, respective
business stand apart from rivals in your industry. corporate social responsibility is consider to be
effective and efficient in order to gain competitive advantage over other rival companies. through
this business will be able to increase its performance in market area as well as improve market
share. It can set up a good foundation for yourself as an organization focused on going above and
beyond by thinking about social and environmental elements. It has been identified that gaining
edge over other rival companies in one of the crucial aspect of the business and it is conducting
different set of activities with the motive of increasing business practices as compare to other
rival business.
Business which are taking social responsibilities seriously have potential to win consumers
as well as create a platform to market its products or services as well as earn their audience
attentions. There are major positive impacts of conducting social responsibilities for business as
well as influence social, economical and environmental factor. It has been determined that
organisation is taking various of resources form society and environment in order to perform its
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business practices (Amorelli and García‐Sánchez, 2021). So it is one of the important
responsibility of organisation to carry out different practices that will assist in providing benefits
to society and its people. Social responsibilities conducted by business will significantly help
people and society by providing different working opportunities. Business is offering high
quality products and services to customers which is according to their needs and requirements. It
has been identified that employees of the business are also benefited by the practices of corporate
social responsibility. There are likewise a scope of advantages for your employees when you
embrace corporate social responsibility. There are various business which is providing large
amount of employment to the people with the motive of increasing and enhancing business
practices. It is has been analysed that by providing employment to people, business is conducting
welfare and it will be able to provide better standard of living to people or its employees. This
Business work environment will be a more sure and useful work environment, and by advancing
things like volunteering, you energize personal and professional development. This will help
employees to contribute their efforts towards the societ and environment. Corporate social
responsibility can assist business with bettering customers. Many types of corporate social
responsibility include organizations connecting directly with citizenry, who may likewise be
customers or expected customers (Abu Zayyad and et.al., 2021). It has been analysed that CSR
activities are consider as the philanthropic gestures of business towards to society and this will
assist in overall development of society and environment.
It has been determined that there is strong relationship between corporate behaviour and
corporate social responsibility. It is crucial that the behaviour of corporate is positive and
effective towards corporate social responsibility in order to provide benefits to society, economic
conditions as well as environment. This is consider as the ethical behaviour of a company
towards the society and its people. It has been identified that corporate have its responsibility
towards society, stakeholders, customers, employees, investors and various other people who are
associated with the business. Corporate behaviour needs to be responsibility towards managing
relationship with the other stakeholders that have legitimate interest in the business practices as
well as have commitment towards the business. It is moral responsibility of organisation to
consider ethical values while conducting business activities as well as have contribution to the
development of economic factors. in this business needs to focus on improvement in the quality
of life of people as well as enhance their living standards. Organisational behaviour and
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corporate social responsibility have positive and strong relationship with each other as both of
them are conducting practices for the improvement of business image by ethically conducting
business practices as well considering responsiveness of its stakeholders along with the
environment in which they are operating its business practices. Both of these will lead to develop
better and strong image in market area and this will directly lead to affect its performance. It has
been identified that objectives and benefits of corporate social responsibility and organisational
behaviour are very similar to each other as both of this will help in rebuilding the public trust and
confidence will be enhanced (List and Momeni, 2021). Stakeholder trust on business will be
increase through this as it will lead to increase transparency in the financial or non financial
reporting. Through the support of positive organisational behaviour and effective corporate
social responsibility respective company will be able to establish strong brand reputation of the
company. This is helpful for making substantial improvement and enhancement in the
relationship with different stakeholder as this will lead to have positive influence over society,
environment as well as economic development. It has been analysed that with the contrition in
the development of the region as well as society in the area in which it is performing its
practices.
CONCLUSION
From the above report it could be concluded that corporate social responsibility is one of the
essential aspect of business and this will help in enhancing or improving social, economical and
environmental development. By conducting different corporate social responsibility practices
organisation will be able to develop positive image in market area and this will help in attract
more customers to business.
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REFERENCES
Books and Journals
Vătămănescu, E.M. and et.al., 2021. Before and after the outbreak of Covid-19: Linking fashion
companies' corporate social responsibility approach to consumers’ demand for sustainable
products. Journal of Cleaner Production, 321, p.128945.
Endrikat, J. and et.al., 2021. Board characteristics and corporate social responsibility: A meta-
analytic investigation. Business & Society, 60(8), pp.2099-2135.
Beji, R., and et.al., 2021. Board diversity and corporate social responsibility: Empirical evidence
from France. Journal of Business Ethics, 173(1), pp.133-155.
Amorelli, M.F. and García‐Sánchez, I.M., 2021. Trends in the dynamic evolution of board
gender diversity and corporate social responsibility. Corporate Social Responsibility and
Environmental Management, 28(2), pp.537-554.
Abu Zayyad, H.M., and et.al., 2021. Corporate social responsibility and patronage intentions: the
mediating effect of brand credibility. Journal of Marketing Communications, pp.1-24.
List, J.A. and Momeni, F., 2021. When corporate social responsibility backfires: Evidence from
a natural field experiment. Management Science, 67(1), pp.8-21.
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