Csr-Business

The issue of the practice of Corporate Social Responsibility (CSR) is much debated. Proponents argue that there is a strong business case for CSR, in that corporations benefit in multiple ways by operating with a perspective broader and longer than their own immediate, short-term profits. Critics argue that CSR distracts from the fundamental economic role of businesses, others argue that it is nothing more than superficial window-dressing, other yet argue that CSR is applicable to some big companies or groups rather than some small companies. This essay will discuss some information about CSR in main three areas: firstly, what CSR is in modern economic activity; secondly, for big companies or transnational enterprises and Small and Medium sized Enterprises (SME), CSR does detract from their profit-making money, or does not, and CSR should be a priority, or should not; thirdly, to argue the relationships between CSR and profit. At last, the conclusion would summarize the whole essay.

The rise to prominence of corporate social responsibility in the modern economy and in the management literature has been one of the most notable global trends over the last 20 years. Because of increasing pubic concerns for the natural environment, for the respect of human rights, for the ethical aspects of business and for other social issues, firms have multiple their efforts to deal with their responsibility to society. According to KPMG (2008), 80 per cent of the Global Fortune 250 firms now release corporate responsibility information, and 75 per cent have a formal corporate responsibility strategy in place. At the same time, according to the EU Commission (2002, 2011), it represents that “…CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.” Correspondingly, scholars have developed a vast range of theories and concepts about how a firm should address...