Corporate Social Responsibility

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Corporate Social Responsibility

I. Introduction

A. Introductory Device: Corporate Social Responsibility (CSR)is a concept where a company "gives back" or "fix damages done" to society, though it may lead to Corporate Social Irresponsibility (CSiR) which will happen only upon the company’s option to do or not to do; its benefits outweigh its costs.

B. Thesis Statement: Firms should commit to Corporate Social Responsibility (CSR) despite the possibility of subsequent Corporate Social Irresponsibility (CSiR), for it promotes long-term profits for business, improves business value and reputation, and corrects social problems caused by business.

II. Background

C. Howard Bowen’s 1953 publication of ‘Social Responsibilities of the Businessman’ marked the modern era of social responsibility and from Milton Friedman; the strongest opposition to CSR says “The social responsibility of business is to increase profits (1970)” (Iamandi, 2007).

D. A company is involved in CSR when they seek to meet or exceed legal and normatively mandated standards, by considering the greater good of the widest possible community within which they exist with regard to the environmental, social, economic, legal, ethical and philanthropic impact of the organizations’ way of conducting business and the activities they undertake (Clegg, Kornberger, & Pitsis, Managing and Organizations: an introduction to theory and practice, 2008).

E. A research about the current status of CSR was conducted by Environics where 1,000 interviewees in each of the 20 countries studied showed a trend that investors consider a company’s social performance in making investment choices and that 42% of consumers especially those in North America patronize the products and services offered by companies who have good social and environmental performance however, the study only yielded 8% for Asia, which shows that consumers are not that...