The Business Management Term Corporate Social...

In this essay I will discuss the business management term ‘corporate social responsibility’. I will show a strong awareness of this topic, this by showing the dangers and benefits of corporate social responsibility. I will convey the importance of CSR. By showing the effect CSR has on internal and external stakeholders of an organisation. Corporate social responsibility is a management concept, whereby an organisation activities are geared towards the compliance of strict ethical codes. These codes are then extrapolated to the organisation business activities in attempt to reduce the number of negative externatlies which may be conceived through malpractice. â€Å"A business that makes nothing but money is a poor business.†(Henry-ford-News Journal-[Mansfield-Ohio]-3 August-1965). Therefore, corporate responsibility will play a substantial part in organisational behaviour, due to an increase in public awareness of social responsibility. Organisations will now feel obligated to adopt a utilitarian thought process when carrying out day to day activities. [Richard L. Daft, p149]â€Å"Corporate Social Responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it because it is good for our business† –Niall Fitzerald-Former-CEO-Unilever. Corporate social responsibility (CSR) can be defined as the economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time (ArchieShow MoreRelatedSocial obligation of business1734 Words   |  7 Pagesthat obligation of business is to maximize long term profit for shareholders in a sustainable way, while others call them to involve more to social responses. Each judgment has its own reasons which this research sought to analyze. 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