Question

What is corporate social responsibility (CSR)? Is the principle of CSR one that is likely to be widely adopted by companies around the world. Is it likely to significantly change corporate behaviour? Will behavioural change benefit the public? In your answer refer to examples of companies debating CSR or implementing practices of CSR.

Answer 1

Corporate Social Responsibility (CSR) is a type of self-regulation of an international private business that aims to contribute to the public purpose of charity, activist or charitable nature by engaging or supporting voluntary or ethical practices. While it may describe the CSR as an internal organizational policy or strategy, the time has come when different international laws have been created and different organizations have used their power to Push it beyond individual or industry initiatives. Despite being considered a form of corporate self-regulation for some time, over the last decade it has changed dramatically from voluntary decision making at the level of individual organizations to the necessary schemes at Regional, national and international.

Viewed at the organizational level, CSR is understood as the principle of private companies. Therefore, it must be aligned and integrated into the business model to be successful. In some embodiments, the exercise of corporate social responsibility goes beyond complying with regulatory requirements and engaging in "activities that appear to contribute to certain social interests other than the interests of the company and those required by law." The options of "Compliance," Non-Compliance, and "Over" are three different organizational design options. While in areas such as environmental or employment regulations, employers may choose to comply with or exceed the law, other organizations may choose to follow the law. These organizations take clear legal risks. However, the nature of the legal risk changes when soft law is considered. Soft laws can have legal responsibilities, especially when companies make false claims about their sustainability or other ethical powers and practices. Companies can generally participate in CSRs for strategic or ethical purposes. From a strategic point of view, the goal is to increase the long-term profitability and confidence of shareholders through positive public relations and high ethical standards to reduce business and legal risks by taking responsibility for corporate activities. CSR strategies encourage companies to positively impact the environment and their stakeholders, including customers, employees, investors, the community and others. From an ethical standpoint, some businesses will adopt CSR policies and practices because of the ethical beliefs of senior management.

For example, executives may believe that environmental harm is not taken from an ethical standpoint.