What´s Corporate Social Responsibility?

1736 Words7 Pages

ABSTRACT
Corporate Social Responsibility (CSR) is a management concept where the companies strive to do good for the society, more than what the law demands. While the term is not new, the way CSR is viewed has been gradually evolving. What was once considered a waste of capital, is now being used to venture into international markets, create trust amongst stakeholders, strengthen the brand and ensure sustainable development. CSR is distinct from philanthropy, charity or sponsorship since it helps the company with more than just reduction of poverty or protecting the environment. These companies aim to achieve sustainable global development by following a more comprehensive set of working objectives than just profit alone. The perspective is …show more content…

On the discussion of corporate social responsibility, economic issues have been ususally overlooked. For many years, the aspect has been widely assumed to be well managed. However, it is actually the least understood by many of those who are responsible for the corporate and public policy agendas, and underrepresented the corporate responsibility agenda. The economic aspects of CSR are often mistakenly thought to be the same as financial issues. However, the economic responsibility is not simply an issue of companies being financially accountable and having records of employment figures and debts in their latest report. What makes up corporate economic responsibility is the consideration of direct and indirect economic impacts that the organization’s functions have on the surrounding environment, community and on the company’s …show more content…

Many organizations have started to become active in addressing social concerns. Social responsibility involves being accountable for the social effects the company has on people directly or even indirectly. The people within the company, in the supply chain of the company, in the community the company is in and as customers of the company, that is the whole lot of stakeholder are all included in this. It refers to the management’s requirement to make choices and take actions that will add to the welfare and interests of the community and that of the organization. The following have been found to be key social aspects of CSR for an

Open Document