Corporate social responsibility (CSR) comprises of a set of moral, social and ethical obligations which a corporation has towards its consumers, and the society as a whole. There are various definitions that explain this concept. One such definition tells us that CSR is “a…
to economic development while improving the quality of life of the work force and their family as well as the community and society at large” (cited in Sims, 2003). Again, Wartick and Cochran frames CSR as “a business organization’s configuration of principles of social responsibility, processes of social responsiveness, and policies, programs, and observable outcomes as they relate to the firm’s societal relationships”(Wartick and Cochran, 1985). CSR is however the most aptly defined by the World Business Council as “The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Holme and Watts, The World Business Council for Sustainable Development). One idea comes out very clearly from the above definitions, and that is, CSR is a duty to be performed by corporations towards all its stakeholders, and not simply the shareholders. CSR can be divided into 4 basic dimensions. These are
The four afore-mentioned dimensions form the pyramid of social responsibilities, and are referred to as the Carroll’s CSR pyramid. As Carroll himself frames it “corporate social responsibility involves the conduct of a business so that it is economically profitable, law abiding, ethical and socially supportive. To be socially responsible then means that profitability and obedience to the law are foremost conditions when discussing the firm’s ethics and the extent to which it supports the society in which it exists with contributions of money, time and talent” (Carroll, 1983, p.608). At the very base is the economic dimension that forms the foundation for all the other aspects. Next, above the economic dimension, comes the legal aspect, where the mantra is to follow and play strictly by the rules of the game. The law clearly demarcates what is right and what is wrong, and the legal dimension simply ...
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This study would go like a bullet in on the management of people attitude in hospitality industry, in fastidious on manager decision. Even though we recognize that a viewpoint on manager and manager decision depends on a causal commencement of people nature, conjecturing on manager decision generally ignores this relation.
This is because CSR asks for an alignment of the business processes and operations with the environment.
Corporate Social Responsibility has become increasingly important at present for the organizations. Every organization is trying to fulfill its own corporate social responsibility.
Dismantling of communist political regimes in the erstwhile iron curtain countries hastened the path of globalisation and made way for the emergence of the bulkiest chunk of international market viz. China, for all global marketers alike. This included top branded goods and services.
Voluntary principles of Corporate social Responsibility are much more effective than prescriptive regulation because self-regulation is far more easily adaptable to the vast differences in circumstances, objectives, operating methods and resources of individual companies.
Practicing CSR enables the managerial procedures into practice and indicates a pluralistic society that maximises freedom of expression,action,and responsibility which in turn results in a widely diversified set of loyalties to many different causes and organisations and minimises the danger that any one leader of any one organisation will be left uncontrolled.
murabi in ancient Babylon thousands of years ago, which made it the obligation of noblemen to “protect” slaves (Nehme & Wee, 2008; Esposito, 2009:108). It is not difficult, then, to imagine that notions of CSR have evolved through the years in tandem with the evolution of
In addition, I have undergone various diploma courses that include Public Relations, Sales and Marketing, Corporate Governance, and Human Resource Management. With my experience and considering the labor market especially in my country of interest, I will have been
CSR also helps companies to build and elevate their brand image since consumers today prefer goods with CSR attributes. However like everything else, CSR has controversies like spending more on CSR activities can put pressure on