Corporate Social Responsibility Essay - 1266 Words

Many people believe that they have a social responsibility to take care of their community and the people within that community. The community can expand from local and regional to national and international in scope. Social responsibility in not limited to individuals, but many businesses and organization have joined the call for social responsibility. Corporate Social Responsibility, CSR, is when business and corporations make this a priority in their operations. Two questions come to mind, why a company needs to practice CSR and how can they do it? To address why companies need to practice CSR, Liu and Liu in their article, â€Å"Implementing Corporate External Social Responsibilities Strategies Through, Organizational Design and†¦show more content†¦79). Customers may purchase from a company based on a corporation’s CSR. As the external stakeholders respond positively to CSR, a company will see it as â€Å"a strategic tool to win† (Liu and Liu, p. 79). The CSR can provide a competitive edge in the open market. As the pressure to meet the customers’ expectations, a company’s commitment to CSR may change. Liu and Liu state that Multinational corporations, like Starbucks, Shell Oil, and Nike, have felt the external pressure to act more socially responsible. The negative campaigns brought against them, compelled them to change their global image. (2009, p. 80). Although these corporations practiced CSR, the extent of their commitment changed due to external stakeholders’ perceptions. . These changes due to increased external stakeholders pressure has also brought into question the motivation for these changes. The changes made to satisfy just the external pressure are unacceptable. Liu and Liu note, â€Å"Some critics complain that these companies lack sincerity and only pay lip-service to the concept† (2009, p. 80). To combat the usage of CSR to meet the needs of the shareholders, and not the stakeholders, companies should publish CSR reports, detailing their CSR involvement in their communities (Liu and Liu, p. 79). To address how a company can develop a CSR, in â€Å"Demystifying Corporate Responsibility,† McKnight presents a method to make CSR easier for companies. A CSR need not be expensive orShow MoreRelatedCorporate Social Responsibility : Corporate Responsibility773 Words   |  4 PagesCorporate social responsibility may also be referred to as corporate citizenship and can involve spending finances that do not directly benefit the company but rather advocate positive social and environmental change. The soul in the next economy forum presentation made it evident that achieving corporate social responsibly in a company can reap major benefits in terms of finances, more inspiring workplace and customer satisfaction. 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