What Does Corporate Responsibility Mean - 1518 Words

What Does Corporate Social Responsibility Mean? Corporate initiative to assess and take responsibility for the company s effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups. Corporate social responsibility may also be referred to as corporate citizenship and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change. Read more: http://www.investopedia.com/terms/c/corp-social-responsibility.asp#ixzz1czJWBme6 Companies have a lot of power in the community and in the national economy.†¦show more content†¦The term corporate social responsibility came into common use in the late 1960s and early 1970s after many multinational corporations formed the term stakeholder, meaning those on whom an organization s activities have an impact. It was used to describe corporate owners beyond shareholders as a result of an influential book by R. Edward Freeman, Strategic management: a stakeholder approach in 1984.[2] Proponents argue that corporations make more long term profits by operating with a perspective, while critics argue that CSR distracts from the economic role of businesses. Others argue CSR is merely window-dressing, or an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. CSR is titled to aid an organization s mission as well as a guide to what the company stands for and will uphold to its consumers. Development business ethics is one of the forms of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. ISO 26000 is the recognized international standard for CSR. Public sector organizations (the United Nations for example) adhere to the triple bottom line (TBL). It is widely accepted that CSR adheres to similar principles but with no formal act of legislation. The UN has developed the Principles for Responsible Investment as guidelines for investing entities. corporate social responsibility Definition A company’s sense of responsibility towardsShow MoreRelatedPersonal Motives For Corporate Social Responsibility933 Words   |  4 Pagesfor Corporate Social Responsibility (Graafland, J. Mazereeuw-Van der Duijn Schouten, C. 2012) analyze the motivations of directors to take responsibility for the labor, environmental and social aspects in business. It distinguishes the Corporate Social Responsibility (CSR) by conducting a survey consisting of a sample of 473 executives. What is more, the motives are classified as three types: â€Å"financial motives†, which is external, â€Å"ethical and altruistic† which are internal. the corporate socialRead MoreCorporate Social Responsibility : Business Communication And Technology835 Words   |  4 Pages Corporate Social Responsibility Business Communication and Technology Due Date: 29th August Teacher: RYANCL Form: 11O â€Æ' Table of Contents Corporate Social Responsibility 2 Introduction 2 Legal Requirements 2 Drawbacks/Disadvantages 2 Industry Example – Carnival Australia 3 Conclusion 4 Recommendations 4 Reference List 5 Appendix 1 6 Appendix 2 7 â€Æ' Corporate Social Responsibility Introduction What is Corporate Social Responsibility? The responsibilities a business has to the environment, societyRead MoreCorporate and Social Responsibility997 Words   |  4 PagesOF ARTICLES D. Birch (2002). Social, Economic and Environmental Capital. Corporate Citizenship in a New Economy. Deakin University, Melbourne J.M. Darley (2005). How Organizations Socialize Individuals into Evildoing In recent years, Corporate and Social Responsibility has become an ever increasing concern and source of community debate. It is now socially accepted that corporations have some ongoing responsibility, though sometimes ignored, to set a good example, make decisions based onRead MoreStakeholders, Categories Responsibilities of Organizations1723 Words   |  7 PagesActivity 3-Stakeholders, Categories Responsibilities of Organizations 1. Describe the basic features that distinguish the four basic forms of business ownership: sole proprietorships, general partnerships, C corporations, and limited liability companies. Ownership of C corporation is represented by shares of the stock, or shareholders, it is the most common type of the business, where ownership to the shareholders offers a limited liability to all its owners. Limited liability companiesRead MoreCorporate Social Responsibility Definition1011 Words   |  5 PagesThis research study is about what the Corporate Social Responsibility (CSR) is, how people define and how I understand this term? According to my research and observations, CSR does not have only one and constant definition. I have read a lot of definitions of CSR and in fact, they are similar but not the same. Briefly, definition and understanding of CSR depends on person to person. Thus, I am going to talk about definitions of the CSR and I will define my own perspective about the CSR. Read MoreEssay on Corporate And Social Responsibility988 Words   |  4 PagesCorporate And Social Responsibility In recent years, Corporate and Social Responsibility has become an ever increasing concern and source of community debate. It is now socially accepted that corporations have some ongoing responsibility, though sometimes ignored, to set a good example, make decisions based on social good and on ensuring positive environmental practices. The two articles reviewed both focus on this corporate responsibility but they have very different approaches and drawRead MoreCorporations Are Moral Agents and Have Obligations Which Go Beyond Obeying the Law.Doc1479 Words   |  6 PagesQuestion 4. It is overwhelming how corporations have embedded a social responsibility in their mission statements and company objectives. This leaves us with one assertion that is that corporations do have some level of obligation towards society’s morality; however, the corporation itself is not a moral agent (Klaus M. Leisinger). The discussion that follows is about corporations being moral agents or otherwise; however I will reach a conclusion that corporations do have an obligation that extendsRead MoreAre Profits The Only Business Of Business?1523 Words   |  7 PagesAre profits the only Business of Business? What is the corporation’s social responsibility? Many might say the main idea is that a corporation must go further than carrying out their basic function of purely making profits. A corporation must create wealth in ways that avoid under minding society, and instead enrich the society it operates in. The term â€Å"corporate social responsibility† has been deï ¬ ned in numerous ways; from the constricted economic perception of increasing stockholder wealth (FriedmanRead MoreTransparency Is Key Aspect of Corporate Governance1331 Words   |  6 PagesThe boards of directors are responsible for the governance of their companies so there has to be transparency in company reporting. Transparency is key aspect of corporate governance because of implementing corporate governance this will allow stakeholders and shareholders to review and evaluate performance of management and the company this ensures that the board of directors and the executive directors of corporations a ct in the best interest of shareholders and the corporations. It is implementedRead MoreBusiness Ethics And Social Responsibility1167 Words   |  5 PagesCOMPARITIVE BUSINESS ETHICS AND SOCIAL RESPONSIBILITY Essay on Ethics and corporate Social Responsibilities SUBMITTED BY: Karuna Shrestha SID# TIA2346 SUBMITTED TO: Understanding Ethics and CSR (Corporate Social Responsibilities) Corporate social responsibility is no more characterized by the amount of cash an organization adds to charities, yet by its general inclusion in exercises that enhance the nature of individuals lives. Corporate Responsibility has come up as a huge topic in the worldwide