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Corporate Social Responsibility

Essay by   •  March 3, 2011  •  483 Words (2 Pages)  •  1,565 Views

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Corporate social responsibility is a company's obligation to be responsible to all of its stakeholders in all its operations and activities with the aim of achieving sustainable development not only in the economical component but also in the social and environmental dimensions company's stakeholders are all those who are influenced by and can influence a company's decisions and actions, both locally and globally. Business stakeholders include employees, customers, suppliers, community organizations, subsidiaries and affiliates, joint venture partners, local neighborhoods, investors, shareholders, and the environment.

Today's delicate interest in the proper role of businesses in society has been promoted by increased sensitivity to ethical issues. Such sensitive issues like environmental pollution, improper treatment of workers, and defective production leading to customers inconvenience or danger. These are highlighted in the media; government regulation regarding environmental and social issues has increased. Investors have begun to make investment decisions based on social sustainability as well as economics. Many people have become increasingly sensitive to the social performance of the companies from which they buy their goods and services. This growth of industry forces pressure firms to operate in an economically, socially and environmentally endurable way. Once this was done by spending money on community improving projects, delegating scholarships, and encouraging workers to volunteer for reading programs are common examples. For many corporations, community outreach programs create good will in the community this can indirectly increase revenue. The mission of a socially responsible organization is to take into report the full scope of their impact on the surrounding communities and the environment when making decisions most corporate decision have small but significant impacts on there surrounding communities, balancing the needs of company affiants with their need to make a profit. This approach to business regards organizations as full partners in their communities. Some companies have developed triple line reporting to show not only profits, but also social and environmental impact. Countries like France have made the issuance of such a reporting necessary in the annual report of public listed

companies. New measures need to be developed if the benefits from profits, social impact and environmental impact can be effectively weighed against each other.

Examples of corporate social responsibility.

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