Corporate Social Responsibility Of A Business - 1550 Words

The responsibility of a business goes beyond just turning a profit, they also have an obligation to society. The stakeholders; consumers, employees, the community and the environment, all have a variety of needs that should be met by the company. These needs can include things such as safer more affordable products for the consumer, fair wages and good working conditions for the employee, or environmentally safe production practices that cut down on pollution for the community. Meeting these needs is known as Corporate Social Responsibility (CSR) and can have a profound impact on the company. Businesses, big and small, have an obligation to society to provide quality services while protecting the integrity of the environment and community surrounding them. This social responsibility can be broken down into at least five different areas that contribute to the success of a business. These are economic, legal, ethical, philanthropic and environmental. In order for these principles to w ork towards the success of a business fulfilling its social responsibility the company must first be profitable. This is one aspect that economists and businessmen can agree on regardless of which model of business they follow. Without enough of a profit margin none of the other social responsibilities can be met. Therefore, the first aspect of the Corporate Social Responsibilities is being profitable. It has already been determined that this is necessary for a business just to stay afloat,Show MoreRelatedCorporate Social Responsibility And Business2249 Words   |  9 Pages As we all know, corporate social responsibility is a discipline in business practices. This is one of the business practice sector that is most demanding and constantly changing sector in business enterprise. Because of these demanding tasks that corporate social responsibility has posed on business, business leaders or stakeholders has been faced with the responsibility of bringing a favorable environment for business activities. The prospect of corporate social responsibility became famous inRead MoreThe Impact Of Corporate Social Responsibility On Business1626 Words   |  7 Pages In contrast, this research shows that the impact of corporate social responsibility can extend beyond public relations and customer goodwill to influence the way consumers evaluate a company s products. Specifically, this research documents that acts of social goodwill--even when they are unrelated to the company s core business, as in the case of charitable giving--can alter product perceptions, such that products of companies engaged in prosocial activities are perceived as performing betterRead MoreCorporate Social Responsibility Of The Business World1269 Words   |  6 PagesCORPORATE SOCIAL RESPOSIBILITY Presentation: Corporate social commitment is the term used to portray the way that a business considers the cash related, characteristic and social impacts of decisions and exercises it is incorporated in. The piece of Corporate Social Responsibility in the business world has made from a fig leaf publicizing front into a fundamental piece of corporate behavior over the span of late years. Conservative frameworks are regarded, pined for and passed on additional byRead MoreCorporate Social Responsibility : Business Practices925 Words   |  4 PagesCorporate Social Responsibility are business practices which help not only the business flourish but also help society also flourish. Currently, Corporate Social Responsibility has been a very important topic and is in many companies today because of employees are focused on three things: people, planet and revenue (Taylor, 2015). Corporate Social Responsibility has many types and has a variety of tactics to reach the public. The main ones being Environm ent, Philanthropy and Ethical Labor StandardsRead MoreBusiness Ethics and Corporate Social Responsibility756 Words   |  4 PagesBusiness Ethics and Corporate Social Responsibility April Duhon DeVry University The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not? The effectiveness of the laws that the United States have that are intended to further fair, balanced, and competitive business practices depends on how ethical a business is. Below I will explain why I do not believe theseRead MoreHalal Business Corporate Social Responsibility3628 Words   |  15 PagesHalal Business Corporate Social Responsibility Othman Ibrahim*, Siti Zakiah Melatu Samsi**, Muhamad Fazil Ahmad*** *University Teknologi Malaysia/Faculty of Computer Science and Information System, Johor, Malaysia. Email: othmanibrahim@utm.my **Multimedia University/Faculty of Business and Law, Melaka, Malaysia. Email: zakiah.melatu@mmu.edu.my ***Universiti Putra Malaysia/Faculty of Modern Languages Communication, Selangor, Malaysia. Email: mfazil@fbmk.upm.edu.my Abstract - Halal industry isRead MoreBusiness Ethics And Corporate Social Responsibility Essay1382 Words   |  6 PagesSOLUTION Business Ethics Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. Acting in an ethical way involves distinguishing between â€Å"right† and â€Å"wrong† and then making the â€Å"right† choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labor. They should not unlawfully use copyrighted materials and processes. They should not engageRead MoreCorporate Social Responsibility : Business Ethics1964 Words   |  8 Pagesfrom the variety of companies that they have the option to endorse. A business can spend millions of dollars on advertising, researching, sampling and surveying customers all of which can be undone by a mistake that ruins their reputation. Corporate social responsibility is a term that has its origins in the 1950s. It refers to â€Å"situations where the firm goes beyond compliance and engages in actions that appear to further some social good, beyond the interests of the firm and that which is required byRead MoreCorporate Social Responsibility And Bu siness Ethics8391 Words   |  34 Pages CORPORATE SOCIAL RESPONSIBILITY AND BUSINESS ETHICS Final Project Report for Legal Aspects of Management Submitted To Prof. Dr. D.S. Sengar Professor, IIM Lucknow Submitted By Group 9 Abhinav Bansal, PGP31186 Chheda Adarsh Jayesh, PGP31199 Manideep Akarapu, PGP31213 Ritika Srivastava, PGP31226 Surbhi Aggarwal, PGP31239 â€Æ' Table of Contents Executive Summary 3 Acknowledgement 4 Business Ethics 5 Corporate Social Responsibilty 7 CSR Law 7 Crisis Management CSR 10 Read MoreBusiness Ethics And Corporate Social Responsibility1502 Words   |  7 Pages Nowadays, a business wants to exist and grow in a society, which business ethics and corporate social responsibility are sensitive and crucial objectives, the business should do what is right. Many people agree that business does not exist beyond society, it is a citizenship in the society. Therefore, business has to have many certain obligations and social responsibility. It generally means business have to do something good for the community, making social contribution, and using effectively