Corporate social responsibility

Corporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically oriented practices. While once it was possible to describe CSR as an internal organizational policy or a corporate ethic strategy, that time has passed as various national and international laws have been developed. Various organizations have used their authority to push it beyond individual or even industry-wide initiatives. In contrast, it has been considered a form of corporate self-regulation for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organizations to mandatory scheme

By: enno
Comment: enCorporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically oriented practices. While once it was possible to describe CSR as an internal organizational policy or a corporate ethic strategy, that time has passed as various national and international laws have been developed. Various organizations have used their authority to push it beyond individual or even industry-wide initiatives. In contrast, it has been considered a form of corporate self-regulation for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organizations to mandatory scheme
Date: enMarch 2022
Depiction
Has abstract: enCorporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically oriented practices. While once it was possible to describe CSR as an internal organizational policy or a corporate ethic strategy, that time has passed as various national and international laws have been developed. Various organizations have used their authority to push it beyond individual or even industry-wide initiatives. In contrast, it has been considered a form of corporate self-regulation for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organizations to mandatory schemes at regional, national, and international levels.Moreover, scholars and firms are using the term creating shared value- an extension of corporate social responsibility to explain ways of doing business in a socially responsible way while making profits (see the detailed review article of Menghwar and Daood, 2021). Considered at the organisational level, CSR is generally understood as a strategic initiative that contributes to a brand's reputation. As such, social responsibility initiatives must coherently align with and be integrated into a business model to be successful. With some models, a firm's implementation of CSR goes beyond compliance with regulatory requirements and engages in "actions that appear to further some social good, beyond the interests of the firm and that which is required by law". Furthermore, businesses may engage in CSR for strategic or ethical purposes. From a strategic perspective, CSR can contribute to firm profits, particularly if brands voluntarily self-report both the positive and negative outcomes of their endeavors. In part, these benefits accrue by increasing positive public relations and high ethical standards to reduce business and legal risk by taking responsibility for corporate actions. CSR strategies encourage the company to make a positive impact on the environment and stakeholders including consumers, employees, investors, communities, and others. From an ethical perspective, some businesses will adopt CSR policies and practices because of the ethical beliefs of senior management: for example, the CEO of outdoor-apparel company Patagonia, Inc. argues that harming the environment is ethically objectionable. Proponents argue that corporations increase long-term profits by operating with a CSR perspective, while critics argue that CSR distracts from businesses' economic role. A 2000 study compared existing econometric studies of the relationship between social and financial performance, concluding that the contradictory results of previous studies reporting positive, negative, and neutral financial impact, were due to flawed empirical analysis and claimed when the study is properly specified, CSR has a neutral impact on financial outcomes. Critics questioned the "lofty" and sometimes "unrealistic expectations" in CSR. or that CSR is merely window-dressing, or an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. In line with this critical perspective, political and sociological institutionalists became interested in CSR in the context of theories of globalization, neoliberalism, and late capitalism.
Homepage: Mallenbaker.net
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Is primary topic of: Corporate social responsibility
Label: enCorporate social responsibility
Link from a Wikipage to an external page: www.cambridge.org/us/knowledge/isbn/item6474048/%3Fsite_locale=en_US%7Ctitle=Leveraging; www.theaustralian.news.com.au/story/0,25197,22356183-7583,00.html; web.archive.org/web/20070908232024/http:/www.theaustralian.news.com.au/story/0,25197,22356183-7583,00.html; www.ethicsbasedmarketing.net/11.html; web.archive.org/web/20141123234752/http:/www.ethicsbasedmarketing.net/11.html; www.nytimes.com/2005/06/12/opinion/nyregionopinions/12WEsullivan.html; www.retailgazette.co.uk/articles/41134-nearly-half-of-britons-would-buy-more-from-a-store-that-supports-charity; www.retail-week.com/home/analysis-top-10-uk-retailers-revealed/5045009.article; web.archive.org/web/20130120053221/http:/www.retail-week.com/home/analysis-top-10-uk-retailers-revealed/5045009.article; www.lexisnexis.ca/bookstore/bookinfo.php%3Fpid=1750%7Ctitle=Corporate; www.mallenbaker.net/csr/crisis05.html; web.archive.org/web/20090329114150/http:/www.mallenbaker.net/csr/crisis05.html; www.rhcatalyst.org/site/DocServer/CSRQ_A.pdf%3FdocID=103; web.archive.org/web/20071012014240/http:/www.rhcatalyst.org/site/DocServer/CSRQ_A.pdf%3FdocID=103; www.insead.edu/facultyresearch/research/details_papers.cfm%3Fid=27378; www.shrm.org/hrmagazine/07September/; www.forbes.com/sites/csr/2010/12/15/new-study-consumers-demand-companies-implement-csr-programs/; www.icj-cij.org/court/index.php%3Fp1=1&p2=6; web.archive.org/web/20071014005020/http:/www.icj-cij.org/court/index.php%3Fp1=1&p2=6; eu.wiley.com/WileyCDA/WileyTitle/productCd-0470723955.html%7Ctitle=The; www.tuck.dartmouth.edu/newsroom/articles/when-retailers-do-good-are-consumers-more-loyal; web.archive.org/web/20151018211541/http:/www.tuck.dartmouth.edu/newsroom/articles/when-retailers-do-good-are-consumers-more-loyal
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SameAs: 24vKE; 7697760-2; Bedriftens samfunnsansvar; Corporate social responsibility; Corporate Social Responsibility; Corporate Social Responsibility; Društveno odgovorno poslovanje; Družbena odgovornost podjetij; Ettevõtte ühiskondlik vastutus; Företags samhällsansvar; Freagracht shóisialta chorparáideach; Gizarte ardura korporatibo; Korporativ sosial məsuliyyət; m.023k5x; Maatschappelijk verantwoord ondernemen; Q218600; Responsabilidade social corporativa; Responsabilidad social corporativa; Responsabilità sociale d'impresa; Responsabilitate socială a corporațiilor; Responsabilitat social corporativa; Responsabilité sociétale des entreprises; Socia respondeco de entreprenoj; Společenská odpovědnost firem; Spoločensky zodpovedné podnikanie; Społeczna odpowiedzialność biznesu; Tanggungjawab sosial korporat; Tanggung jawab sosial perusahaan; Társadalmi felelősségvállalás; Trách nhiệm xã hội của doanh nghiệp; Yhteiskuntavastuu; Εταιρική κοινωνική ευθύνη; Корпоративна општествена одговорност; Корпоративна социална отговорност; Корпоративна соціальна відповідальність; Корпоративная социальная ответственность; Կորպորատիվ սոցիալական պատասխանատվություն; אחריות תאגידית; المسؤولية الاجتماعية للشركات; مسئولیت اجتماعی شرکتی; नैगमिक सामाजिक उत्तरदायित्व; सामाजिक उत्तरदायित्व निधी; ব্যবসায়ের সামাজিক দায়বদ্ধতা; ආයතනික සමාජ වගකීම; ความรับผิดชอบทางสังคมเชิงบรรษัท; 企業の社会的責任; 企業社會責任; 기업의 사회적 책임
SeeAlso: Berle-Dodd debate
Subject: Category:Applied ethics; Category:Articles containing video clips; Category:Branding terminology; Category:Codes of conduct; Category:Concepts in ethics; Category:Corporate social responsibility; Category:Economy and the environment; Category:Ethical codes; Category:Ethical investment; Category:Euthenics; Category:Industrial and organizational psychology; Category:Law of obligations; Category:Morality; Category:Private aid programs; Category:Professional ethics; Category:Social concepts; Category:Social ethics; Category:Social finance
Text: enA business needs a healthy, educated workforce, sustainable resources, and an adept government to compete effectively. For society to thrive, profitable and competitive businesses must be developed and supported to create income, wealth, tax revenues, and philanthropy.
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