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Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate soci - Essay Example
Author : alvahzieme
Finance & Accounting
Pages 6 (1506 words)
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…
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. ...