While obeying law and economic interest, a social responsible business is involved in social activities that improve society. It does not appear that the responsibilities of a corporation to society, their employees, customers, suppliers, and the communities or shareholders in which they service are in practice According to Robbins, a social responsible business pursues long goals that are good for society and cause no harm. Marketing managers, as moral agents, are required to make practical and as well as ethical decisions. In doing so, managers have to do what is right because it is their responsibility.
Why do marketing managers need to ensure that their companies operate visible Corporate Social Responsibility programs (CSR) CSR should be of high priority. This will give managers the opportunity to display their value throughout the company. Public opinion supports corporations pursuing economic and social goals. Social responsible companies tend to have secured long run of profits. Social responsible activities are simply the right thing to do. Seeking social goals create an attractive public image for businesses. Involvement in social programs helps to solve social problems. Addressing social problems before they become serious and costly will definitely benefit the society as a whole. A socially responsible corporation can normally expect minimum government regulations. Regarding stockholder interests, being social responsible will increase a corporation's stock prices in the long run. And many successful businesses have huge profits that will support charitable projects that need funding (Robbins, 2005, Page102).
Elfren Sicangco Cruz states that there many definitions of corporate social responsibility. According to the World Business Council for Sustainable Development, CSR is a continuing commitment by business to behave ethically while contributing to economic development; improving the quality of life for workers and their families; the local community and society at large. Mallen Baker suggests that corporate management business processes are to make an overall positive impact on society. The International Organization of Employers says CSR is a voluntary positive initiative by businesses that look beyond legal aspects in economic, social, and environmental areas. Michael Hopkins, in A Plantary Bargain: CSR Comes of Age, goes on to say that corporate social responsibility is the treatment of stakeholders both in and outside the corporation.
Corporate social responsibility (CSR) is fundamental to a long term, comprehensive approach to business success. CSR has become one of the benchmarks of an organization's overall success. Corporations as well as their marketing managers need to ensure that every aspect of their performance reflect the values, interests and expectations of society. Why Social responsible activities affect a company's economic performance.
There are findings from research studies that can fully explain the importance of corporate social responsibility programs. In such studies, there appears to be little evidence that a company's social activities harm long term economic performance. Companies are reporting that there is positive relationship between social responsibility and economic performance. Marketing managers should, however, certainly consider social goals as they plan, organize, lead and control their company's operations.
Corporation can implement CSR at many levels.