The paper "Corporate Social Responsibility and Managerial Views" is an amazing example of a term paper on management. Corporate social responsibility, more commonly known as CSR or corporate citizenship, is where the business attempts to understand the environment in which it is operating and how its activities are affecting the environment. It is a form of self-regulation that a business or company places on itself to monitor how its activities impact the environment and find acceptable ethical ways to minimize or entirely eliminate any adverse impact. In simpler terms, CSR means the organization or business taking responsibility for their actions.
CSR is not only directed to the community or the environment. It is also directed to shareholders or stakeholders, employees, suppliers and customers. Incorporate social responsibility, organizations have come to actively involve members of the public by encouraging them to volunteer at organized CSR events and this makes the community members be able to better relate with the company or organization and to foster a strong relationship between the two parties (community and company). Corporate social responsibility can be termed as the intentional involvement of the community and public involvement in decisions made at the corporate level.
It helps to improve the company’ s triple bottom line which is the 3Ps, profit, people and the planet. There is no established standard upon which activities can be proven to be CSR activities, several companies have come up with their own activities which they deem to constitute CSR. Although CSR has become a widespread global phenomenon, it is still far from being a homogeneous decision in the minds of company executives. Hot debates rage in board rooms regarding what constitutes CSR and how it helps the business achieve its objectives.
Many other executives also question the efficacy of CSR in helping the business to achieve its goals and objectives. This has led to different views of people towards corporate social responsibility. Some view it as an utterly essential part of the company’ s mission and vision while some brush it off as a mere public relations (PR) gimmick to please the customers, shareholders, suppliers and other stakeholders in the business environment. Some businesses take on CSR activities to hide the eyes of the public from the potentially prejudicial activities of the organization by masking it with these CSR activities.
This confusion has also led to improperly executed CSR activities that have flopped and created a negative image and taken away trust in the company. In all this, the need for being ethical in business is the biggest driving force behind companies taking up CSR. History of corporate social responsibility The term corporate social responsibility came into being in the late 1960s toward the mid-1970s. Corporate social responsibility came at a time when many multinational companies were becoming aware of all people who were in one way or another affected by the activities of the organization.