The paper "The Principles of Corporate Social Responsibility" is a great example of a management essay. Corporate social responsibility refers to the relationship that exists amongst different stakeholders that might include multi-national companies, government agencies as well as the immediate communities from where operations are conducted (Chernev & Blair, 2015). Research indicates that the activities of a corporation have a relatively higher level of impact on the external level of environments and thus, it is recommended that one of the fundamental roles of accounting should be focused on providing a report on the impact of the organisation in regards to the aforementioned matters (Chernev & Blair, 2015).
It thus means that the activities of CSR are highly effective in the external environment composed of the immediate business environments under where the company operates the local community environment where it is located and the broader international environment, especially for multi-national companies. The principles of CSR are used in controlling the surrounding activities under which the company operates. These principles include; sustainability, accountability and transparency. Sustainability is a principle that is related to the effect of taking actions in a current period but has other options in future time (Chernev & Blair, 2015).
For instance, if resources are consumed in an uncontrolled manner in the present period then they will be unavailable in the future and this might pose a challenge in case scarce resources. In essence, sustainability is focused on enlightening society about the consequences of overconsumption of resources that cannot be easily regenerated. Accountability relates to corporations recognising that there immediate activities and decisions pose significant levels of issues to the existing external environment and thus, assuming responsibility for these of its decisions.
In this regard, the principal calls for the quantification of the effects of actions adopted both within and without the business environment. Transparency is concerned with noting of the external level of impacts of the actions taken by an organisation being reported in their factual nature as opposed to compromising some level of information (Chernev & Blair, 2015).