Csr concepts and theories. A Brief History of Corporate Social Responsibility (CSR) 2023-01-03
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Consulting Briefing No.1 : CSR Concepts and Theories
The integrative and ethical principles are accounted for the satisfaction of social needs and moral responsibilities of corporations. In this context, stakeholder CSR concerns are not seen as constraints but as opportunities to be leveraged. Though not always mandated, a company may choose to manage its relationship with external stakeholders beyond what is legally required. After reading this essay you will learn about: 1. This group of theories could be call instrumental theories because they understand CSR as a mere means to the end of profits.
Corporate Social Responsibility (CSR): Concept and Activities
CSR is the catalyst that brings about a positive social change that is welcome for business, government, and society at large. DIAGRAM 1: STARBUCKS STAKEHOLDERS CONTINUED Stakeholder s Interest and Influence Secondary -internal to Starbucks Staff representation groups such as Trade Unions. This is likely to be a controversial requirement, but it speaks to the connections between the community and the firm. THE STAKEHOLDER APPROACH IN CORPORATE SOCIAL RESPONSIBILITY. In such a case, the strength of that 3 responsibility might force me to override the other two above it. A responsible company will consider the rules and regulations as means for social good and will make the necessary efforts to obey them in good faith.
In a bid to promote justice and equality in society, business entities have incorporated the human rights aspect into the CSR field thereby showing commitment to the well-being of the society at the local and international levels. Issues for Debate in Corporate Social Responsibility: Selections from CQ Researcher, California: Sage Publications Inc. Where corporate CSR attempts to address sustainability fail even when reinforced by legislation , then multi-party movements and pressure groups often built around NGOs can emerge to drive the sustainability agenda. New business opportunities crop up when a firm values CSR in its operations. Thus every corporate unit must have a responsibility for the upliftment of society which is broadly considered as Corporate Social Responsibility CSR.
When they consider a possible course of action they must weigh the benefits and burdens according to these weighted responsibilities. Help With Your Assignment 2. While implementing CSR as a part of their corporate culture, organizations face many challenges. This argument of efficiency is further compounded when supply chain issues are considered. China has surfaced as one of the major players in the contemporary world economy. It is not fair for investors or shareholders to channel their assets to activities that would not generate profits. The book provides a history of the development of social entrepreneurship concerning policies and challenges faced in various regions.
Corporate Social Responsibility (CSR) Lecture Notes
Social impact should be the guidance for organizational operations whereby several steps need to be followed to gain a clear reflection of the intended impact. The theory talks about the necessity of managers to be held liable to the various stakeholders for safeguarding stakeholder interests. Emerging social and environmental concerns are therefore less likely to be overlooked and corporate reputation will be protected. This theory focuses on sustainability, and requires that any company weigh its actions on three independent scales: economic sustainability, social sustainability, and environmental sustainability. According to Garriga and Melé 2004 , using the above key viewpoints, the theories of CSR can be classified into four main categories, viz. Corporate Social Responsibility in Contemporary China.
Examples include the provision of better quality housing, hospital clinics, lunch-rooms and recreational facilities. Conclusion A simple conclusion on the three forms of corporate social responsibility: the best companies are those who generate high sales, gain most customers and gain large profits talking ethnically. Both businesses and society are depending on each other. San Francisco, CA: Koehler Publishers. The Cambridge Handbook of Stakeholder Theory.
A Brief History of Corporate Social Responsibility (CSR)
Management Models for Corporate Social Responsibility. The various challenges in implementing CSR initiatives can be mitigated by aligning the concept with stakeholder theory as this enables leaders to have a more pragmatic approach considering the interests of all its stakeholders and planning their actions accordingly. Such ethical CSR approaches can also create a social dynamic that delivers a direct business benefit. CSR is seen as a market opportunity given the interests of consumers and competitors. Many early business leaders also exercised their philanthropy by supporting the arts, education and religious communities.
Corporate Social Responsibility (CSR) Explained With Examples
Benefits of Corporate Social Responsibility As important as CSR is for the community, it is equally valuable for a company. Therefore, the concept of Corporate Social Responsibility CSR emerges whereby self-regulation is incorporated into the business model. This is because the average business decision is made by comparing the expected costs and benefits in terms of dollars and, only then, considering the other dimensions of that decision. Denying children the opportunity to work without addressing attitudes and access to education simply reduced household incomes. However, various challenges have subjected governments to pressure primarily in developing countries resulting in decreased engagements on the issues of social welfare and environmental regulations. However, the theory can be seen to balance these potentially competing interests when social responsibilities can be turned into business opportunities.
Corporate Social Responsibility and the Triple Bottom Line
Brand Recognition According to a study published in the Journal of Consumer Psychology, consumers are more likely to act favorably towards a company that has acted to benefit its customers as opposed to companies that have demonstrated an ability to delivery quality products. Corporate social responsibility and stakeholder approach: A conceptual review. Okpara and Odiwo 2013 argue that it is essential for corporates to uphold good citizenship attributes if economies in the 21st century aim at promoting socio-economic development. An analysis of public policies regarding CSR endeavors in the European Union. Related Articles CSR Lecture Notes Corporate Social Responsibility CSR is an issue of much debate and discussion within modern business. The front face of the company to customers. Corporate Social Responsibility: Readings and cases in a global context, Abingdon: Routledge.
