Corporate Social Responsibility Essay - 1897 Words

Corporate social responsibility is becoming a key initiative and an essential tool in the growth of multinational corporations and the development of third world countries throughout the globe. The two concepts can work hand in hand to provide benefits for all; however difficulties in regulating and implementing corporate social responsibility need to be overcome before effective changes can be made. Definitions of corporate social responsibility can be somewhat varied depending on the perception and perspective an individual or group has towards the situation; the definition has also varied through time. In general terms, Manakkalathll Rudolf (1995) define corporate social responsibility (CSR) as â€Å"the duty of organisations to†¦show more content†¦Today, manager’s sensitivity to the issue is a result of pressures from the public, from interest groups, legal and governmental concerns and from media coverage (Deresky 2006). There is much debate as to what is considered socially responsible, and it is difficult to conclude where to draw the line in regards to where a company’s responsibilities begin and end. This ‘grey area’ can be attributed in part to the lack of a moral standard that can be accepted across all cultures. One side of this debate presents ethics and ethical standards as providing the basis for the adoption of CSR codes by multinational companies. Levis (2006) describes company’s CSR codes as â€Å"self regulatory instruments that address the issue of their social, environmental and human rights externalities.† These codes are generally developed in cohesion with a company’s culture and what they deem as ethical. Manakkalathil Rudolf (1995) define ethics as â€Å"the clarification of what constitutes human welfare and the conduct necessary to promote it.† The issue with ethics and CSR in the global marketplace is the ambiguity and difficulty defining a widely accepted mode of conduct or moral universalism. Differences in the societal values across the globe make it difficult to create a universally accepted code of ethical standards to abide by. It is for reasonsShow MoreRelatedCorporate Social Responsibility : Corporate Responsibility773 Words   |  4 PagesCorporate social responsibility may also be referred to as corporate citizenship and can involve spending finances that do not directly benefit the company but rather advocate positive social and environmental change. The soul in the next economy forum presentation made it evident that achieving corporate social responsibly in a company can reap major benefits in terms of finances, more inspiring workplace and customer satisfaction. In the past, companies mistakenly thought that corporate socialRead MoreCorporate Social Responsibility1990 Words   |  8 PagesCorporate social responsibility is becoming a key initiative and an essential tool in the growth of multinational corporations and the development of third world countries throughout the globe. The two concepts can work hand in hand to provide benefits for all; however difficulties in regulating and implementing corporate social responsibility need to be overcome before effective changes can be made. Definitions of corporate social responsibility can be somewhat varied depending on the perceptionRead MoreCorporate Social Responsibility1904 Words   |  8 PagesCorporate Social Responsibility The different aspects of corporate social responsibility (CSR) have been the topic of considerable debate since the last decades of the twentieth century. 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This obligationRead MoreCorporate Social Responsibility : Corporate Responsibility2819 Words   |  12 PagesIntroduction For the past years, corporate social responsibility also referred, as corporate conscience has been a respected subject for discussion. Corporate social responsibility, unquestionably, contains more viewpoint than simply worried about the ecological impacts of associations. It came in people groups mind at the later 1880, time of essential modern advancement that associations ought to think about the thought of social obligation. Associations that are near to social obligation issues got toRead MoreCorporate Social Responsibility : Corporate Responsibility2818 Words   |  12 PagesFor the past years, corporate social responsibility also referred, as corporate conscience has been a respected subject for discussion. Corporate social responsibility, unquestionably, contains more viewpoint than simply worried about the ecological impacts of associations. It came in people groups mind at the later 1880, time of essential modern advancement that associations ought to think about the thou ght of social obligation. Associations that are near to social obligation issues got to be worryRead MoreCorporate Responsibility And Corporate Social Responsibility Essay1867 Words   |  8 PagesStevan Jakovljevic Professor Laud MGT 3550 Values, Ethics and Sustainability 10/18/16 Chapter 3: Define corporate responsibility (CSR). Describe the benefits. Why do some executives support CSR while others find it troublesome and argue against it? Corporate social responsibility is what a company uses to self-regulate itself and refers to business practices involving initiatives that benefit society. A business’s CSR can encompass a wide variety of tactics, from giving away a portion of a company’s