Corporate Social Responsibility Reports - Essay Example

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Corporate Social Responsibility Reports

The essay "Corporate Social Responsibility Reports" discusses the relationship the corporate social responsibility report has with all its stakeholders like employees, communities, customers, suppliers, governments, and environment and whether it provides the shareholders and all the stakeholders with useful information. The readers of a CSR report expect that the company should go beyond simple community affairs in their report. Companies which are new to this CSR reporting may confine the CSR reports to reporting only the charitable giving and the volunteer programs. Corporations are now increasingly expected to issue the CSR report to their stakeholders. A CSR report which focuses only on the community is too narrow to be considered as a comprehensive reporting on their commitments to the community through the CSR report. Such Community affairs reports may be useful for the local communities which want to understand how the firms support their causes. But they fail to provide the others with substantive information which is necessary to assess the strengths and the weakness of a corporation to all its stakeholders. There are many accounting theories in this respect. The Stakeholder theory implies that a business has to interact with a number of parties in the environment. These groups or actors are known as the stakeholders. They can be investors, customers, political groups, employees, communities, trade associations, governments, suppliers etc. The communication between them is bidirectional in nature. ...Show more

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This essay discusses the relationship the corporate social responsibility report has with all its stakeholders like employees, communities, customers, suppliers, governments, and environment and whether it provides the shareholders and all the stakeholders with useful information…
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