Corporate Social Responsibility: Business Benefits and Challenges

This presentation delves into the concept of Corporate Social Responsibility (CSR), its role within businesses, and the benefits associated with its implementation. It highlights the importance of ethical practices and how CSR contributes to a company's goodwill and brand value, while also leading to cost reduction and employee retention. The presentation further addresses the challenges of maintaining CSR, such as investor pressures that can sometimes distract from core business activities. Through the presentation, it is concluded that maintaining CSR is essential for all business organizations, emphasizing the need for companies to integrate environmental and social considerations into their operations. The presentation also includes references to scholarly articles that support the concepts discussed.

PERSONAL AND
PROFESSIONAL
DEVELOPMENT- TASK 1-
INDIVIDUAL
PRESENTATION PAPER

TABLE OF CONTENT
 INTRODUCTION
 CONCEPT OF CSR
 ROLE OF CSR
 BENEFITS OF CSR
 CHALLENGES OF CSR
 CONCLUSION
 REFERENCES

INTRODUCTION
Corporate social responsibility is the latest trend going on
within the business environment which every company needs
to take into consideration for being successful.
The business exists in the environment which is external to
the company and it is the moral duty of the business to take
care of the environment in which they exist.

CONCEPT OF CSR
 This is a management practices which aims at integrating the
environmental and social issues of the society with the
practices and operations of business.
 The CSR is a business practices with help of which the
business produces the products and services in such a way that
it creates a positive impact over the overall society.

ROLE OF CSR IN BUSINESS
 The major role of CSR within the business is to focus that
the company is using all the practices which are correct at
ethical and moral level and does not harm any of the values
of ethical working.
 This is the most important role as this ensures that all the
practices which are being adopted by the company are
trustworthy and effective

BENEFITS OF MAINTAINING CSR
If the company abides by all the requirement of CSR then it
is very beneficial for the company.
The major benefits are as follows
Increase in goodwill and brand value
Reduction in cost
Retaining employees

CHALLENGES IN MAINTAINING CSR
One of the most important and common challenge which
the company faces at time of implementation of CSR practices is
the pressure from the investors.
This is a challenge because the investors focus mainly ion
the protection of environment and use of CSR practices.
This distracts the business form focusing and taking care
of other important business activities.

CONCLUSION
 From the above presentation it is concluded that
maintaining corporate social responsibility is very
necessary to be maintained by all the business
organizations.

REFERENCES
 Aguinis, H. and Glavas, A., 2019. On corporate social responsibility,
sensemaking, and the search for meaningfulness through work. Journal of
Management. 45(3). pp.1057-1086.
 Albuquerque, R., Koskinen, Y. and Zhang, C., 2019. Corporate social
responsibility and firm risk: Theory and empirical evidence. Management
Science. 65(10). pp.4451-4469.