Corporations across the globe seek to present an image to the world of what and how they are contributing to the society apart from churning up revenues. They present to the world a picture of their contribution to the society in form of a good deed named –Corporate Social…
It is therefore very essential that such matters are create that can prompt people to act in a responsible way. This can be done through the process of legal incentives.
What this essentially means is that you give people certain advantages for doing something for the welfare of the society and the general public. These incentives can vary in their shape and form (Ibrahim 1993). An example can be taken from the field of Architecture, in many of the projects in New York City; legal incentives were given to developers in the form of added flow space. However, what was required from them was to give public spaces in the form of plazas; which can act as breathing spaces in the urban jungle of concrete.
Other incentives can be given in the form of honorary titles, awards and bonuses depending upon the nature of activity. Generally it is not very favourable to give volunteers financial gifts, just to respect the nature of volunteering, which is based on good will rather than expectations of a monetary gain.
Apart from the proceeds in from of intangibles gained by the organizations that practice CSR, monetary returns are also of great value, which are derived from the good will created by inculcating the socially responsible behaviour in the system.
Further incentives can be given to people who work with the law enforcement agencies for curbing the ever increasing crime rates of the cities. Some of these incentives can be in the form of providing people support in the latter stage of their lives that may include putting them up in old ages/retirement homes which can be facilitated by the government (Karake-Shalhoub 1999).
On a personal level unemployed young individuals can gain a lot from fulfilling their social responsibility. This will enable them to acquire confidence, self-esteem and they will be able to develop or enhance certain skills, which will eventually prepare them ...
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The study will also shed light on the benefits of sustainable development to both societies as well as to the organizations. However, the study will mainly focus on the role played by corporate social responsibility in fostering sustainable development of a company. Finally, on the basis of the findings the study will draw a conclusion.
Introduction Efforts to bring corporate bodies under some level of control are traceable from the response of the UK institutions following challenges and scandals that affected companies such as Enron, Maxwell Corporation, LIBOR, BCCI, and Pretty Polly. Following the recommendations of the Cadbury Committee, which was set up to determine the cause of the challenges, it was decided, among other things that the organizations should be restructured to increase the levels of accountability on the part of the directors.
Most companies have, therefore, made it a practice to incorporate responsibility towards the society and the environment as part of their routine business. This notion of corporate social responsibility has been heavily debated on in recent years so much so that researchers have called into question the existence of the “social” aspect in “corporate social responsibility”.
This historically unprecedented development has led to new ethical quandaries, especially addressed toward the business corporations that actively perpetrate such values and lifestyles that favour their bottom lines. Large departmental stores, also called supermarkets, have replaced the traditional retail outlets such as family owned shops around the corner.
Prescribed and prepaid rules have been made to protect countries as well as people. It has been investigated that how Courts in England work, how they are administered and governed under the law.
Understanding the rule or importance of the law depends upon the educational level of the country's people.
The extent to which firms or enterprises address social issues and/or concerns constitutes social responsibility relative to the operations undertaken in the organizational or business setting. In other words, social responsibility is the concern and
According to Theodore Levitt, the social responsibilities and welfare do not form part of the interests of a particular corporate system. With this in mind, it is important to bring into attention the fact that businesses must collide