Csr - Essay

CORPORATE SOCIAL RESPONSIBILITY

What are the benefits of corporate social responsibilities, why do organisations seek to demonstrate these benefits and what are some arguments against CSR in an organisation?

Corporate social responsibility is not just about doing the right thing, it also means that organisations need to behave responsibly. There is no silver bullet solution but there has been ongoing effort to develop a global guideline so that organisations can be legally responsible and accountable for violations. There have been many corporate social responsibility standards and initiatives that have been implemented to offer the business some benefits. This essay intends to explore how corporate social responsibility has been defined, what are some of the benefits of implementing corporate social responsibility for an organisation and how some organisations, go about demonstrating these benefits. Furthermore, this essay also summarises some arguments against corporate social responsibility.

The concept of corporate social responsibility can defined in different ways by different organisations, industries, time and geographic location. Mallen Baker defines corporate social responsibility by how companies manage the business process to produce an overall positive impact on society.1 European Commissions defines corporate social responsibility as a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. 2 The World Bank defines corporate social responsibility as the commitment of business to managing and improving the economic, environmental and social implications of its activities at the firm, local, regional and global level. 3

Based on the above definitions the overall idea of corporate social responsibility is about organisations constructing some form of ethical and sustainable behaviours, programs, initiatives and practises that have...