Corporate Social Responsibility
Corporate social responsibility (CSR) is a multidimensional concept addressing a range of social, cultural,
ethical, economic and political concerns. Many organisations today have implemented a CSR policy and
made its goals and components public, even using it as a marketing and public relations tool, as evidence
of the company�s attention to social and ethical issues.
Reflect on your experience with cultural, ethical or values-related issues in organisations with which you
are familiar.
If you have worked for or have experience with an organisation with a corporate social responsibility
policy, consider the nature and impact of that policy.
Explore the CSR policy statements of one or two large organisations online to examine the key aspects of
these policies and the issues they are designed to address.
CORPORATE SOCIAL RESPONSIBILITY
Introduction
Corporate Social Responsibility is failing to deliver on its intent in the business world
today. Company’s owners need a new well laid approach that engages the external environment
in its initiatives. The only way of achieving this is by incorporating the external engagements
into business decisions at all levels. Companies have the task of making contributions to the
society if they are to influence persons. This paper seeks the address the importance of CRS and
its benefits to the organizations and other entities.
Benefits to an organization that implements a CSR policy
Corporate image describes the theories used by companies and the activities it engages in
as perceived by the outside world. Many businesses work towards creating and communicating
positive reflections of their shareholders, the general public, customers, and financial community
through CRS.
It is imperative to ascertain that even small entities benefit when they embrace the
concept of Corporate Social Responsibility in their businesses (Cooper, P 154 2014). Any
business eyes making returns in order to stay in the market, but by introducing CRS, businesses
turn out to attract more investors, reduce the risks involved, and address the concerns of
stakeholders. CRS also benefits the environment to a larger extent.
Some of the tangible costs
By engaging in CRS activities, an airline firm is bound to reduce its inefficiency in
capital expenditures and exposure to risks. CRS mitigates the threats and demands of
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stakeholders presented in an organization through a threshold level that puts in place the
environmental performance (Cooper, P 154 2014).
Benefits of CRS to an organization’s stakeholders (staff, vendors, customers,
shareholders, communities, and the public at large)
CRS is beneficial to the community in various ways. It plays a role in the development of
a community by creating initiatives that help better the lives of a people. It empowers individuals
and groups by equipping them and providing skills they need to effect change in their
communities. Its initiatives focus towards making a community sustainable (Mærsk, & Schondel
P 45 2012). Low fare airlines in its approach to involving the community in its initiatives even as
it makes profits opened a free eye clinic in the community aimed at helping those with eye
problems.
CRS gives the public at large the benefit of getting better durable and functional
products, and creates a better product and services that are renewable. It also integrates the
environmental management tools into the organization’s plans, a factor that ensures conservation
of the environment (Mærsk, & Schondel P 45 2012).CRS also promotes a firm competitive
nature, it loyalty, brand, and its consumer patronage. The program can attract investments, a
factor that benefits the organization and its stakeholders.
The costs of CRS to certain stakeholders
To the stakeholders of an organization, low operating costs are prevalent in the event that
such an entity integrates CRS into its planning. The organization is also able to get an increase in
their sales and in winning their customers loyalty (Korkchi, S. 2010). Improved financial
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performance, great productivity, and lower operating costs are also an advantage to the
stakeholders.
Conclusion
The competitive business world requires a proper channeling of all the resources
accessible to an organization to socially responsible initiatives. CRS initiatives are, for this
reason, beneficial to organizations as well as their stakeholders including the society (Banerjee,&
Shastri, P 145 2010). Companies that incorporate this approach of integrating the external
engagements into their engagements experience huge profit returns.CRS is, for this reason,
integral for any venture in this modern world.
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Works Cited
BANERJEE, P. M., & SHASTRI, V. (2010). Social responsibility and environmental
sustainability in business how organizations handle profits and social duties. New Delhi,
Indai,
