MNG81001: Corporate Social Responsibility Report - Southern Cross

This report provides a detailed overview of Corporate Social Responsibility (CSR), exploring its principles, models, and impact on corporate reputation. It discusses Carroll's CSR Pyramid, highlighting economic, legal, ethical, and philanthropic responsibilities. The report emphasizes the importance of sustainability, accountability, and transparency in CSR initiatives. It also examines the role of media in promoting CSR and the benefits of CSR, including enhanced brand differentiation, talent attraction, and improved corporate reputation. The report concludes that CSR is essential for companies seeking to build goodwill, attract investors, and foster positive relationships with stakeholders. Access this student contributed report and more solved assignments on Desklib, your go-to platform for academic resources.

Running head: CORPORATE SOCIAL RESPONSIBILITY
CORPORATE SOCIAL RESPONSIBILITY
Name of the Student
Name of the University
Author note

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Introduction
Corporate Responsibility or Corporate Social Responsibility is an important perspective
of business model. It includes automotive business activities which provides support to
companies to be socially active. The CSR model reminds the company of responsibilities
towards itself, the stakeholders and community where it operates. Through this model the
company gets aware of the role it plays in society, and the basic business course. It enhances
sense of responsibility for public surrounding the company in that particular community. It falls
under the company’s initiatives towards its employees and people in society. It works as a good
branding for the company as it can raise its goodwill with the philanthropic initiatives and
voluntary effort for the noble cause of society. In the following pages of the report, we would
learn about the principles, models and other aspects of CSR that will benefit on the investigation
of report question.
Discussion
Model of CSR
A model of CSR known as the Carroll’s CSR Pyramid is been explained to understand
the CSR activities. It has an elementary structure for understanding the argument of how an
organization meets its social responsibility that he has towards the society.
The Salient characteristics of this pyramid are given as follows:
 The profit areas are the primary areas to build CSR activities as it depends on the
foundations of profit factors.
 It requires the business to be there involved with its environment and government rules
and regulations.

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 The company before launching its CSR services and philanthropic activities must ensure
that it meets all the ethical roles and responsibilities.
Source: https://www.tutor2u.net/business/reference/carrolls-csr-pyramid
The above pyramid is showing four nasic responsibilities whuch are dicussed as under:
Economic Responsibility
This responsibility comes first in the pyramid that deals with the profitability of business.
It is the resoponsibility on the part of the business to lay its foundation on profit which turns out
to be the eeconomic responsibility of CSR (Kolk, 2016 pp. 23-34). This is the only weay that
mends ways for the other responsiblities in the same chain. Through this the society can be
benefitted for long in financial terms.
Legal Responsibility
The second level of responsibility in the pyramid is Legal responsibility which is to
maintain the governmental rules and regulations. For instance, the employment, the health and
hygiene and the competition.

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Ethical Responsibility
The third level of responsibilty in the pyramid which states of being respnsible about the
ethics and morals. This respinsbility helps the companies to move byond its purview to meet the
utmost requirement of laws (Voegtlin and Greenwood, 2016 pp. 181-197). For instance, supplier
and employee treatments.
Philanthropic Responsibility
This responsibility involves giving back to the society as a welfare or doing good for it.
Taking up this responsibility is not under any charges but totally voluntary. Although it is
voluntary and optional yet is very important levels of the coeporate social responsibility. To cite
examples for this responsibility are, donation by charity, time vested by staffs on project.
Principles of CSR
The three principles of CSR are as follows:
Sustainability
The companies today taking actively part in the CSR activities in order to increase its
sustainability or it can be said as such that sustainability and corporate social responsibility both
the terms are interlinked for companies (El Ghoul, Guedhami and Kim, 2017 pp. 360-385). For
instance, the company have policies for the security of its employees and strategies that are made
in favour of growth of the companies. Any company in such case would strive for thee
sustanability approach. To implement sustainabiliry approach in company tasks is not that easy
as per company norms. Therefore in order to link that with society, to gain goodwill the
comoanies start the CSR policies (Crane and Glozer, 2016 pp. 1223-1252). The company
policies such as the open communication chanels within the organisational framework, strategies

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of retainng employees and other miscellaneous polices regarding employees are subjected to be
sustainable.
Accountability
The actions taken by companies are alawys judged by its employees as those decisions
and norms camnot satisfy everyone’s need and expectations. The only thing that would matter in
the end is the company’s accountability of its actions and decisions.
Transparency
It is about the transparency of company in its vision and mssion statements, its
organisational structure, policies and reporting as close ened or ope ended organisation. The
ransoarency in sn organisation is very iportant for its right functioning. The company which
allows transparency are only suitable for the CSR approach.
Corporate Responsibility and Media
Media in CSR adds that extra advantage onto it. It helps in bringing the world closer as
CSR is not only limited to the corporations but also goes for publicity to set an example and and
be inspiration for others (Petrenko et al., 2016 pp. 262-279). Media makes this approach broad
and lucarative to people which cretes awareness among them. It is also helpful in finding
volunteers in society for launchig the CSR activities. Media like the newspapers namely, The
Hindu, the Guardian Newspaper publish news and editorials on CSR of companies which is an
active particiaption.
21st century CR surge
This report encompasses the progression of CSR in 21st century which is a boon to
sensitization systems of the businesses and relations with governments, regulations beneath the

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laws and also the responses beyond responsibilities. CSR awareness and initiatives are getting
popular and among the primary responsibilities in both the developed and developing countries.
It identifies the progression of companies in both societal and corporate governances that
interacts to public and private interest.
The Upside of CR
Getting engaged in Corporate social responsibilities is a countable thing for an image of
the company. It creates goodwill and also is advantageous in the profit factors. In the new
generation, companies with moderate to high turnovers tend to venture the CSR approach. It
gives the company a social identity and the societal support. It has been seen in the data reported
by the investors on ESG or environmental, social ad governance helps in making effective
decision to fund the companies. These are the data that encourages companies to increasingly
participate in the CSR activities.
Reputation risk mangement
The CSR considers the reputational management of risks invariably with the following
six ways:
 Stratigize and plan the reputational risks.
 Standardize the processes and policies
 Considering customer perceptions
 Understanding suitable actions
 Meeting Expectations of stakeholders
 Concentrating on the goodwill and interpersonal communication
 Contingency and plan of responsiveness

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Brand differentiation
It is the most visible effects of having CSR incorporated in businesses. The company that
is engaged in the CSR activities are 5 times extra valued by the customers and lucrative to the
external sakeholders. Even to the employees it makes them feel proud if they are working in a
company that has CSR venture. It puts an effort to create a strong brand as it is an added
advantage on the company’s image. It differentes a brand having CSR and without CSR
initiatives.
Talent attraction and retention
The newcomers in the companies are enthusiatic about their company. They will be
fortunate to be the part of such a corporate office which deals in social welfare activities and
have a broad range of Corporate responsibilities. These may include free education systems to
the children of society, games and playstations, community halls and senior citizens
entertainment hubs, musical operas and recreational activities or handicrafts cottage industries
are few CSR engaging activities that would attract talents from evry cornr to come for such
organisations (Tran, B., 2019 pp. 270-281). Even the retention rate gets higher in such
companies as becaause they generally have high trnovers and huge fundations of profits from
CSR activities for which they have ceratin suitable policies and reinforcements to retain their
employees.
CR and Corporate Reputation
Companies that are engaged in the CSR activities have high reputations in the corpirate
world because they are wordwide known as CSR has been linked with the media sources. Also it

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develops strong networks and develop good relations with various internal and external
stakeholders. Retention rate is high and the market share increases with the market value.
Employee involvement in CSR
Organisations are highly inviting people and community to join CSR activities. It invests
high to see the employee engagement and motivation in these actiities which would provide job
satisfaction. Employee performance becomes measurably high due to these engagements in
welfare activities. It makes them feel connected to the organisation which positively affects the
production and employment relations.
Conclusion
This particular theme discusses the Corporate responsibility that defines what it is
actually in general sense and how it impacts the companies goodwill. The CSR is the venture
that companies engages itself in doing noble activities for the employees and the society which it
resides. It aims to do with the noble intention of serving the society and in order to do that it
must have the profit foundations. Throughout the report it has been discussed about the CSR and
why it is implemented by the companies. It discussed how it affects the company’s good will and
also certain ways of promoting the company.

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References
Alhouti, S., Johnson, C.M. and Holloway, B.B., 2016. Corporate social responsibility
authenticity: Investigating its antecedents and outcomes. Journal of Business Research, 69(3),
pp.1242-1249.
Chaudhri, V., 2016. Corporate social responsibility and the communication imperative:
Perspectives from CSR managers. International Journal of Business Communication, 53(4),
pp.419-442.
Claire, M.D., 2017. Human rights: The emerging norm of corporate social responsibility.
In Human Rights and Corporations (pp. 149-178). Routledge.
Crane, A. and Glozer, S., 2016. Researching corporate social responsibility communication:
Themes, opportunities and challenges. Journal of Management Studies, 53(7), pp.1223-1252.
El Ghoul, S., Guedhami, O. and Kim, Y., 2017. Country-level institutions, firm value, and the
role of corporate social responsibility initiatives. Journal of International Business
Studies, 48(3), pp.360-385.
Kolk, A., 2016. The social responsibility of international business: From ethics and the
environment to CSR and sustainable development. Journal of World Business, 51(1), pp.23-34.
Liang, H. and Renneboog, L., 2017. On the foundations of corporate social responsibility. The
Journal of Finance, 72(2), pp.853-910.
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.
Tran, B., 2019. Corporate social responsibility. In Advanced Methodologies and Technologies in
Business Operations and Management (pp. 270-281). IGI Global.

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Voegtlin, C. and Greenwood, M., 2016. Corporate social responsibility and human resource
management: A systematic review and conceptual analysis. Human Resource Management
Review, 26(3), pp.181-197.