CORPORATE SOCIAL RESPONSIBILITY Name Institution Instructor Date Corporate Social Responsibility Introduction Yes! The CRS report serves as a very important factor of informing the shareholders and stakeholders as well as communicating to the public on the environmental and social responsibility performance of a company…
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Emphasizing on the corporate social responsibility has become a core part of the public policies for development of private sectors within the framework of the international cooperation development. It is considered a deliberate choice for an enterprise to give back to the community and to respond the environment crises while maintaining relations with the shareholders and stakeholders based on dialogue and transparency (Godfrey, Merrill & Hansen 2009). A CSR report, therefore, consists of all activities that the company has taken part. This includes the whole of their chain of value and it considers the effects on ecological, economic, and social parameters in dialogue with the shareholders and stakeholders. The report conveys the following information to the public and to the stakeholders: consumer interest, environmental care, air operating practices such as corruption and bribery, involvement to the community and firm’s governance. A company will therefore, use the report to reach to its consumers, shareholders, and stakeholders. Corporate managers and leaders have taken the initiative to call upon the government, as a stakeholder, to recognize their CSR participation and achievements. The companies can only achieve that by creating a CSR report that communicates to the society on its CSR activities. The government has gone ahead to encourage, support and to enforce Corporate Social Responsibility behavior of firms (Turker 2009). This has therefore resulted to multiple rationales, such as deregulation and competitiveness in companies by including their CSR reports in their annual reports. However, the legal standards and frameworks have been put in place in order to ensure the companies include the appropriate information. This is because some of the stakeholders and shareholders are non-profit agencies which require in knowing the benefit of the company to the community before investing in it. The government also requires knowing how the company responds to environmental issues such as pollution and global warming. It is important to note that most stakeholders including investors, community, markets, NGOs and the government need to know the role of a company to the society and their role in ensuring the environment is maintained. For instance, the mentioned groups expect organizations to put efforts in fighting global warming and feeding the poor. It is humble call for a company to do that, but it has a great effect to the consumers and to the investors. Consumers want to be associated with a company that understand their needs and which cares for their future. As well, investor will invest in a company that has responsible management and that which takes part in CSR activities. Background information Since the early years of 1990, an increase in the environmental awareness and development of sustainable economic growth redirected firms into environmental sensitivity. The recent economic events have resulted to a greater emphasis on the Corporate Social Responsibility in redefining the future of the society. Whereas companies and business organizations are responsible of creating wealth for the shareholders and driving company’ progress, they are directed and guided by regulations and governments, green consumer pressure and society pressure groups (Henriques & Sadorsky1999). A balance between needs of the society and economic growth attracts ...
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The rise of literacy is taken as a pre-requisite for the practice of democracy for the citizens of a country, for it is the basis on which individuals build the understanding of complex issues and themes that the political process depends upon. Newspapers from their inception were related to political parties and ideologies as a fundamental of editorial perspective, and it can be argued that history itself cannot be written without assuming some form of political viewpoint.
Comparatively, professionalism will be understood as having a general focus of seeking to serve humanity. Naturally, rather than defining commercialism is necessarily base and defining professionalism is necessarily high-minded, it must be understood that professionalism, by its very nature, must incorporate aspects of commercialism in order to remain viable.
It is a known fact that the companies create various social problems such as, resource depletion and pollution, which negatively impacts the society as well as the environment (Moir, 2001). The increasing concerns and attention of the general public have reached this sphere which has made it almost mandatory for the organizations to count the CSR activities among their responsibilities.
This paper intends to evaluate the effectiveness of these reports in serving the above purpose as against as just mere ‘vehicles’ adopted for public relations among trading organisations. Corporate social responsibility is a common notion adopted in business models that alludes to some form of self-regulation by corporate systems.
Corporate social responsibility concerns having sufficient effect to the society by offering adequate protection to local or any other investment before considering the money invested in foreign countries. There are several ways through which an accounting professional is involved when it comes to the issues of environmental corporate social responsibility.
71). The CSR reports are meant to describe a company by showing inner circle details to sooth more investors and agitate for positive recognition from the society. On the other hand, the corporate citizenship can entail the incurring of short term costs meant to promote positive environmental and social transformation but do not have immediate financial benefits to the company.
Some of the companies prepare the reports to meet their stakeholders’ needs (Moir, 2001). Other key reasons behind the reporting are the legislative purposes, as well as, developing the brand names. For many years, companies observed environmental reporting for regulatory purposes, as well as, environmental and social issues i.e.
Corporate Social Responsibility (CSR) reports are published by many corporations, but what constitutes a CSR report is still exclusive. There are many names of CSR report such as environmental, sustainability, safety, health and community affairs report. It aims to portray the relationship between an organisation and society.
Most firms are now absorbing the cause of social responsibility either voluntarily or as a part of their strategic goals. In other cases, most firms also publish their attempts in social responsibility and CSR activities as a part of their annual publications like the annual reports.
This paper is aimed at analyzing the concept and the overall importance of corporate social responsibilities for each and every stakeholder of the company. The corporate social responsibilities of Qantas Airlines have been studied in detail to
to increase production to 158 doors a year, but they opt to outsource production to china, which will reduce production cost and further increase production to 365doors a year. Compared to competitors, they have higher selling price. What distinguishes them is the use of
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