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Theories of Corporate Social Responsibility

 

            
             The arena of corporate social responsibility displays to have become more important around the world today. The character of corporation and the approach it is perceived by community has gone through numerous changes throughout the past. Over time, an improved consciousness of the impact of businesses and its relations with social and environmental issues have been developed till today. Corporations are now pleased to some definite responsibilities in the community where they are running. The laws, rules and regulations are most elementary responsibilities that businesses have to follow under. But do all the people in community have known the meaning and understand the concept of corporate social responsibility.
             What is Corporate Social Responsibility (CSR?) .
             There are different definitions and assumptions of corporate social responsibility which applies depending on state and circumstances. In one state CSR may be perceived as an initiative on a voluntary basis while in some as a legal obligation. The concept of corporate social responsibility has been growing remarkably in today's business world. It is also known as corporate citizenships, responsible business, or business for sustainable development of society which is in a form of self-regulated corporation unified into a business model where corporations manage a business activities to make positive changes in the society. On the other hand, business and society are attached that society always have some expectations from businesses and therefore the corporations have responsibilities towards people at society. Thus, in competitive market of today's business environment, corporations are opposed with a new set of non-finances related challenges. The world business council for sustainable development (2002) quoting the statement of Lord Holme and Richard Watts (2000) defines a social responsible corporation as; "Corporate Social Responsibility is 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".


Essays Related to Theories of Corporate Social Responsibility

1. Enterprises and Corporate Social Responsibilities

Consequently, entrepreneurial activity has always borne a pronounced responsibility for social development and Corporate Social Responsibility provides an intelligent way to combine economically viable development, social responsibility and conservation of natural resources1 There is no universally acceptable definition for CSR since there are many elaborated variants nevertheless, it can be described in several ways and some of the concepts I found more accurate are the followings: "What companies have embrace in order to achieve competitiveness while addressing societal issues and cost...

  • Word Count: 2852
  • Approx Pages: 11
  • Has Bibliography
  • Grade Level: Undergraduate

2. Doing good socially for businesses

"Doing Well by Doing Good-: Models of Corporate Social Responsibility The corporate scandals of the past years have raised many questions about businesses and their public interests. To answer these questions the field of corporate social responsibility has grown to great lengths and is now an everyday word in the business world. Corporate social responsibility (CSR) is also known as: business ethics, corporate citizenship, corporate accountability, and sustainability (Overview of Corporate Social Responsibility, 1) Business for Social Responsibility defines corporate social responsibi...

  • Word Count: 3324
  • Approx Pages: 13
  • Has Bibliography
  • Grade Level: Undergraduate

3. Starbucks and Corporate Social Responsibility

In a nation where corporate social responsibility is becoming the expectation of consumers, Starbucks is striving to enact its own CSR, or Corporate Social Responsibility, guidelines for bettering stakeholders in its communities (Starbucks, 2013). ... The company has a long, documented history of social responsibility; Starbucks published its first Corporate Social Responsibility Annual Report in 2002 (Reis, 2009). ... There are several theories that have been used to shape the idea of CSR; they are the social contract theory, rights theory, social justice theory and deontological theory (Wil...

  • Word Count: 2434
  • Approx Pages: 10
  • Has Bibliography
  • Grade Level: Undergraduate

4. Corporate Social Responsibility and Financial Performance

Introduction In recent decades, companies are paying more and more attention to develop and adopt Corporate Social Responsibility (CSR) initiatives. ... However, the dominant theory which influenced the arguments heavily was agency logic: "the social responsibility of the firm is to increase its profits" (Friedman, 1970). Friedman's arguments on companies' responsibility became authoritative over decades. ... SRI developed a modern form of investing strategy by incorporating "environmental, social, economic" effects into the overall consideration corporate perform...

  • Word Count: 1081
  • Approx Pages: 4
  • Grade Level: Graduate

5. Corporate responsibility

Corporate Social Responsibility Many moral reformers in business ethics argue that business managers should transform themselves from agents of capital into agents of society who are morally responsible in solving social problems by using economic resources under their control. ... Edward Freeman's view of the Stakeholder Theory of the Modern Corporation holds that the modern corporation should be managed for the benefit of the stakeholders, who are defined as those groups and individuals who benefit from or are harmed by corporate actions. ... The most persuasive argume...

  • Word Count: 1730
  • Approx Pages: 7
  • Grade Level: Undergraduate

6. Social responsibility of pharmaceutical company

To help implement responsibilities, I insist that the social contract theory provides an applicable ground for the duty based theory with specific procedures to allocate the wealth. Business organization themselves are originated from social contracts, such as corporate law etc. thus I find it practical to apply when confronted with social responsibilities argument. The reasons that I agree with the Deontologist perspective with a Social Contract theory are as below; GSK is a pharmaceutical company that deals directly with human rights issues and I believe that a minimum set of respo...

  • Word Count: 808
  • Approx Pages: 3
  • Grade Level: Undergraduate

7. Donaldson and Preston's Stakeholder Theory

In other words, social responsibility is a responsibility for the individual and the individual should not use other people's means (the shareholders' owned business) to fulfill social responsibility (P. 211-212). ... So, the executive of a corporation can use the corporation's money to fulfill the investor's social responsibility. ... Donaldson and Preston imply that companies have the right to make stakeholders lives better when they say that the shareholder's social responsibilities transfer to the corporate executive (P. 83-85). ... In short, stakeholder theory i...

  • Word Count: 737
  • Approx Pages: 3
  • Has Bibliography
  • Grade Level: Undergraduate

8. General Management-Social Reposibilities

What is social responsibility? ... As far as social responsibility is concerned, there are two points of view: Classical and Socio-economic view. ... These four types of responsibility are related to organizations responding to social demands as follows: Responsibilities and social demand Economic responsibility is concerned as whether one project is profitable (Positive Net Present Value). ... Since ethical responsibilities are not clearly stated into law, moral issues will affect corporate responding to social demand. ... According to the basic theory of economic, the best meth...

  • Word Count: 1287
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: Undergraduate

9. Corporate Philanthropy

Do you view "corporate philanthropy" as a totally egalitarian effort on the part of organizations? ... In theory, I do believe that the efforts of corporate philanthropy are applied to a belief that all people should have equal political, economic, social and civil rights. ... These days, I feel that corporate philanthropy has been enforced and even expected from our world society. ... One such effect of this higher demand is the rise of new organizations that exist primarily to help society enforce the responsibilities of the businesses to the relative societies, ranging all the way from loc...

  • Word Count: 505
  • Approx Pages: 2