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. It has been seen that there is a positive correlation between the social responsibility and the financial performance of the companies (Brennan and Merkl-Davies, 2013, pp. 109-132). Here there are three main groups of instrumental theories on the basis of the economic objective of the company. The first is the maximization of the shareholder value. The second is focusing on the strategic goal of achieving the competitive advantage. The third is the related to the cause-related marketing efforts of the company. British Petroleum understands this aspect much better. The policy statement of BP commits the company to its wide ranging business policies. The CSR report of the company illustrates way the company is meeting those commitments in a way which supports the profitability of the company. Hence by focussing on the Strong financial performance the company can invest the profits into their CSR activities (Deegan and Rankin, 1996, pp. 50-69). Political theories Political theory is an effective CSR accounting theory that used to focus on the interaction between the society and companies and their responsibilities towards the society. There are three divisions of this theory that are discussed below. Corporate Constitutionalism According to this concept the social responsibility of an organization generally arises depending upon the available social power of Organization. Coca Cola Company is one of the leading organizations. The organization implements several green strategies depending upon its social power. Effective water recycling strategy helps the organization to maintain is leading organization within global soft drink industry. Social Contract Theory Jean- Jacques Rousseau was the political economist who posited the social contract theory. According to him the individuals form a social contract with the state so that responsibility of citizens of the state is entrusted with the government. Thus the people are the source of the collective political sovereignty of the state. Thus the government was performing the functions of the common people after undergoing a ...
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Finally, the challenges to this technology shall be considered which include, but are not limited to, the dearth of information about suppliers, insufficient communication between the suppliers and the organization as well as the frequent ‘outsourcing’ of training programmes to third parties who lack sufficient knowledge about the organizational goals and culture.
Burnley football club is nicknamed as the “Clarets” due to their dominant color in the team jerseys. The club reached its peak in the early years since 1888. The club performance fell after the second world-war and was out of the top division in English football since 1976 to 2009.
The objective is to study the strategic plans that the resort has concerning giving back to the community and the relevance of the strategic plans. The focus in this study is the inspiration of the community for mutual benefits between the Four Seasons Resort and the community.
Activities, such as, giving money to charities, doing business ethically, helping society solve social problems, and creating a green environment all fall under the umbrella of CSR (Mohr 2001). In this paper, we will review the CSR statements of two companies from telecommunication industry in order to make out which company is demonstrating more corporate social responsibility than the other.
Examples include philanthropic activities, promoting local culture, and switching to solar power. CSR reporting refers to the representation and presentation of information about a company’s social and environmental activities to its stakeholders, which includes shareholders, investors, employees, customers, society and other organisations including NGOs (Gray, Owen and Maunders, 1987).
This change in management led to a change in the leadership style as well as organizational changes which saw all the operations in the US closed down and business moving to the UK.
The external issue is on the CSR where is 2009, Tesco advertised by using a phrase used by
onsibility management functions are usually aimed at striking a balance between the profit and non-profit functions of the business entity to the local community and any other third parties affected by the activities of the business entity. They are mostly related to the