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Finance & Accounting
Pages 6 (1506 words)
CSR Table of Contents Introduction 3 Discussion 3 Conclusion 8 References 9 Introduction Corporate social responsibility can be defined as the consideration of and response to several issues and aspects beyond the narrow technical, legal, economic and social requirements of the firm…
16-22). It is highly important for an organization maintain strong relationship with, customers, business clients, employees and several external stakeholders. Effective business operation sustainability and CSR activities can help an organization to maintain strong relationship with the stakeholders and several shareholders. The essay will support that the CSR reports of the organizations generally provide useful information on the environmental performance and corporate social performance by considering the example of Tesco Plc and several other firms by considering several accounting theories. Discussion Instrumental theories In this theory CSR is seen as a strategic tool so that it can achieve the economic activities of a company and can ultimately lead to wealth creation. According to the Friedman view, it is seen that the only responsibility of the business it has towards the society is maximisation of the profits of the shareholders while working within the legal and ethical framework of the company. This theory has long enjoyed the acceptance of the business across the world. Such concern for profits include taking into consideration the interest of all the stakeholders of an organisation. It is argued that in some conditions such satisfaction can increase the overall profit and hence result in maximising the shareholder value. ...
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