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Management 6 Pages

Corporate Social Responsibility

Question

Corporate social responsibility (CSR) is one of the hottest issues in corporate boardrooms these days, partly because it is becoming increasingly important to employees and other stakeholders. Why have stakeholders given CSR more attention recently? What are some of the arguments for and against CSR?

Solution

Title: Corporate Social Responsibility
Length: 6 pages (1949 Words)
Style: Havard

Preview

Corporate Social Responsibility

Corporate social responsibility entails the active monitoring of the environment, the society, ethical principles, global trends, and lawful standards for compliance. The standard corporate practice has been to develop and invest in corporate social responsibility programs without involving the stakeholders. In the recent past, however, stakeholders like employees, customers, local communities, suppliers, and investors have taken more interest in corporate social responsibility. Corporate Social Responsibility (CSR) involves strategic value creation for most organizations. CSR developed after the labor movement when the society began expecting companies to accept additional social responsibilities outside the basic organizational functions that include obeying the law and being profitable. Companies that assume CSR have ethical, moral, and flexible responsibilities in addition to their legal and economic obligations. Stakeholders are becoming increasingly involved in corporate social responsibility. Some companies are yielding positive results from such practices while others fail to get encouraging results. This essay expounds on why stakeholders have given Corporate Social Responsibility more attention recently and some of the arguments for and against the practice.

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