Development of Corporate Social Responsibility †Free Samples

Question: Discuss about the Corporate Social Responsibility. Answer: Overview of Corporate Social Responsibility Corporate Social Responsibility (CSR) has had a specific nature and scope sometimes back, but this has been observed to change lately. The concepts of CSR now are totally a different one. The perspective of CSR according to economic and legal sides, give it a different view in terms of societal values expected from organizations. The societies expect that organizations will behave responsibly within their area of operation and beyond. Corporate Social Responsibility stands for the economic, legal, and good expectations that a society is having about an organization at a particular time. The whole thing about CSR means that organizations should be seen as having morals, ethics, and responsibilities that would enable them to relate well with investors and the stakeholders. Traditionally it has been seen that the sole corporate responsibility of an organization is to have a good relationship with its employees and the stakeholders only (Bergamaschi, Randerson, 2016). However, CSR requires that the organizations look at a different perspective on the responsibilities that they should possess to encompass the entire constituency as well. The employees, suppliers, clients, local individuals, states, and local governments, environmental stakeholders, and other special interested groups. More specifically, the other groups impacted by the business organization are known as the stakeholders. Corporate social responsibility is related to business ethics in that the CSR looks at the economic, legal, and ethics in terms of responsibilities, business ethics considers the moral judgemental and behavioral nature of people. Therefore, the study of ethical issues of business may be taken as one that also looks at the corporate social responsibility (Trong Tuan, 2012). The economic responsibility referred to in the definition of corporate social responsibility is based on the what people expect out of the organization and that it will provide its goods or services at reasonable price. Organizations should be keen on several responsibilities including legal ones that guide its operations, for instance, consumer, environmental, and employment legal aspects. Corporations being large organizations that operate worldwide are expected to have impacts on the relationship with many people, including impacts they may create on the environment. Therefore, they are expected to do beyond the just the law but also come up with strategies that would side with the expectations of the wider society (Kannekanti, Muddu, 2009). It is important to note that corporations should indulge in activities that benefit the society and its people directly or indirectly. These may include programs that are aimed at benefiting the people or a state. Corporate Social Responsibility in Contemporary Society Adam Smith, a philosopher suggested in what was known as traditional economic model that the requirements of a society could be satisfied through the good relationship between individuals and an organization (Trong Tuan, 2012). This perspective according to Smith many years ago still holds up to date. He asserts that the free market failed to operate effectively and thus the participants of the market must work closely with each other to form an ideal free market. Thereafter, industrial revolution brought changes to the way organizations and corporations were thought to relate to global community and individuals. The majority of Smiths views were expanded due to technological advancements that brought efficiency in the production of goods and services (Hinson, Ndhlovu, 2011). Between the 1960s and 1970s, there was a rise in consumer and environmental behaviors that affected the societys view of businesses. It is thus important for the business world to try to stop problems they cause to society and begin to take part in finding solutions to the problems in the society. During this period, many legal aspects were laid on businesses such as employment issues, the safety of products, and safety of workers among others. In addition, society started to expect the organizations to help solve some of their problems. This is because the corporations are expected to move beyond the economic and legal mandates and indulge in activities that would help the society. This is the overall view of the Social Corporate Responsibility that is prevalent in todays world (Yasser, Al Mamun, Ahmed, 2017). If everything is viewed in the perspective of long term, corporations are expected to carry out themselves in the present world as to be sure of a favorable environment where they operate. This means that the companies should abandon the short-term perspective and know that investing in the society today will reward them greatly. Similarly, it is best for corporations to take part in socially responsible undertakings since the global world may prevent the government from forming policies and legislations that may deny and bar them from operating effectively (Bhattacharya, Sen, Korschun, 2011). As have been mentioned severally in this essay, an organization has both legal and moral responsibilities to those who own it. These responsibilities may include ensuring that the owners get a proper return on what they had invested. The stakeholders of the firm reap this return. Employees as the main stakeholders of the business also possess both moral and legal obligations expected from the business. Consequently, the firms also have particular obligations to their clients in terms of production and marketing of goods and services that are of quality; safe; and valuable to the local inhabitants of a region. The local communities, therefore have a direct contact with an organization and the relationship between them must be highly geared to enable each of them to benefit (Trong Tuan, 2012). Corporations must comply and develop a healthy relationship with civic and especially interested groups that allege to operate on behalf of a wider variety of people. For instance, the media give reports and results of their investigations on companies. The large firms are most affected by this act whereby the media can secretly carry out their investigations and lay the result to the public. Therefore, they must develop a good relationship and accept them as part of their life to ensure they effectively operate and offer exactly what they should to the society. Global concerns of CSR Big firms and corporations are increasing trend of operating in the global world. The aspect of the globalization of businesses seems to pose difficulties in opposing. However, there are opponents to globalization, for instance, they say globalization has bred unhealthy competition among businesses with the result to affecting the society negatively (Coombs, Holladay, 2012). In addition, globalization if not controlled effectively, may bring environmental problems. Those that propagate for globalization say that open market increases the living standards of people, increased wages for employees globally, and economic improvement of states. Technological issues Corporate Social Responsibility means that the organizations have to widen their scope of operation. This requires that technological advances have to be at high stake and at all times. Globalization, on the other hand, can pose a great challenge to firms if the technology is not enhanced. For organizations to compete favorably and to catch up with the rest of other companies that are in the global market, they have to re-energize their technological baseline (Tilt, 2016). Environmental issues Large companies pay much attention to the legal, social, and contemporary issues in the society. Those that operate globally have their legal, social, and contemporary aspects much enhanced. They have to make sure that they contend to the requirements of the law and policies, but this sometimes ignored and the environmental impacts are felt. This means that global companies must not violate the environmental rules that are aimed at conserving the environment because that violation would affect the society directly or indirectly. The Corporate Social Responsibility of businesses helps them to operate in such a manner that the environment is conserved and the society benefits from all the aspects. Corporate Social Responsibility is not a responsibility that organization may choose to partake, but it has become a vital pivot to the operation of a number of excelling companies worldwide. Therefore, the successful companies operating globally comprehend the importance of corporate social responsibility that helps them advocate for their well-being and as a driver of many changes, they realize (Marom, 2017). It is observed that there is a link between the performance of the organization and the corporate social responsibility. The CSR can be a better opportunity for a business to enhance their operations, help the society, and solve problems that may be affecting them among others. When organizations invest in their community, empower employees to act similarly, they should expect good returns across the board. Focusing on Impacts Companies are making use of themanagement best practices to Corporate Social Responsibility as they do the same to other areas of their operations. This eventually translates to greater investments in society, improved measurement and evaluating results. The result is the refined goals and improved partnership that drives efficiency of business operations whether local or global (Onkila, 2013). Conclusion Corporate Social Responsibility is complex in nature. Today, few companies can totally ignore social issues and problems that occur every day. Most companies both local and international look at not only the goals of increasing returns and profits but also the well-being of communities and society as a whole. Researchers have shown that corporations that come up with a good reputation as their social responsibility and ethical obligation are able to enjoy high-performance levels. However, what should motivate corporations should be the moral and ethical one, but not a financial motivator. References Bergamaschi, M., Randerson, K. (2016). The futures of family businesses and the development of corporate social responsibility. 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