Charity Based Corporate Social Responsibility CSR In a charity-based CSR, corporations donate to organizations or individuals usually through a charity partner to improve their financial condition and for their general upliftment.
People always want to be associated with the best and the most popular, so in that respect, the corporation rises in stature and becomes an important player in its market.
This increased expenditure is reflected in the increased prices of the product for which, ultimately, the customers have to pay.
Compassionate attitude towards employees is highly desired by both new recruits and old employees alike. While supporting the general policies of OECD, an enterprise should take fully into consideration established general policies in the nations that operate, and consider the opinions of various other stakeholders like employees, suppliers, investors, etc.
Incentives induce efficient work out from employees. Unfortunately many consequential events are a reason why CSR policies become evident. Mn es competitive advantage and csr essay of Clean and Renewable Energy from Environmental CSR If the company has invested in an environmental CSR program, it will make sure that its operations do not harm the environment in any way.
The guidelines are in effect dealing with corporate social responsibility issues. They like the fact that these programs are for a good cause. The authorities will give fast-track preference to this company. So it becomes difficult to convince customers that the results will take some time in coming and that they should continue believing in the good intentions of the company.
Thereafter, many significant incidents took place that further strengthened the roots of CSR and forced the business developments to see the need for CSR. This strategy was aimed to create more stable world economy, stimulate world growth, perish world equalities and work on the worst impacts of poverty.
It may also forego cumbersome paperwork that is required to set up projects if it thinks that this project is going to help the community to improve.
Regulatory Authorities become less hostile A corporation with strong CSR programs will not be scrutinized by regulatory authorities as much as companies without CSR programs.
CSR can also help to improve the perception of a company among its staff, particularly when staff can become involved through payroll giving, fundraising activities or community volunteering. So businesses should be more responsible for their environment.
A good CSR program will always give good publicity and even act as an advertisement for the company.
The authorities will be lenient in their regulation because they feel that the company must be complying with all regulations as it is supported by firms and people alike for its welfare work.
Most corporations provide direct financial support to organizations or individuals who require such assistance. It may be apparent that in some cases, ethical implications are simply a costly hindrance that potentially forces businesses to finding alternative means to shift viewpoints.
Business service organizations can benefit too from building a reputation for integrity and best practice.
This will reduce the cost of acquiring fossil fuels and can reduce the cost of production by a one-time investment in renewable energy production. It will also attract investment from other firms and industries, and it will become a name that can be trusted easily.
Its Advantages and Disadvantages According to Horriganthere is no definite answer to what CSR is owing to the high level of ambiguity and controversy related to the topic. The company forgets about its obligations towards its shareholders that they have to make profits for them.
This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and society at large.
This serves a dual purpose — Firstly, people will want to buy the product that the corporation is selling because of its good and clean image.
Improvement in the image of the Corporation The most obvious advantage that a corporation can obtain by implementing CSR policies is that of an increased goodwill value.
The companies may extend compassionate leaves like paternity leaves so that the employee can look after his newborn. This company will attract capital even from abroad in the form of FII, thus, helping the country to get valuable foreign exchange.
You should be known to the people to sell your product. Company Reputation takes a hit According to CSR policies, companies have to disclose shortcomings of even their own products if they are found to violate the CSR program. The business case for CSR within a company will likely rest on one or more of these arguments: It also sets the company apart from its competitors.
Even the Government of the country may be willing to invest in the company, leading to lesser regulation and red-tapism.
Appraisals, financial assistance in times of need, and attention given to personal achievements and special days like birthdays make employees want to remain with the company.
But CSR opens up a whole new horizon for safer and better opportunities for both the employer and employee. The corporation innovates in its manufacturing stage to reduce the production of environment harming by-products.
Here we discuss the influencing legal factors that affect an organization in three different geographical locations: They can also provide medical insurance to their employees to take care of accidents caused due to occupational hazards.Words Essay on Corporate Social Responsibility It is certainly a potential strategic tactic to gain public support to sustain a competitive advantage.
Another plausible driver of CSR is by independent mediators to ensure that corporate goals don't harm or disadvantage anyone or environment.
Unfortunately many consequential events are a. Is It Ethical to Use Ethics as Strategy?Bryan W. Husted David B. Allen ABSTRACT. Increasingly research in the.
Social Responsibility and the Role of Business. corporate social responsibility (CSR) as an ethical approach to running a company. Although Kolstad believes that in order to be ethical, companies must be socially responsible, he also The Link Between Competitive Advantage and Corporate Social.
Full-Text Paper (PDF): Moral Degradation, Business Ethics, and Corporate Social Responsibility in a Transitional Economy.
Learn the advantages and disadvantages of corporate social responsibility in a detailed manner. triple bottom line’ business model was floated along with an idea of using sustainable development to a company’s competitive advantage. The following are central areas when it comes to influencing factors of corporate social.
PDF | This essay traces the roots of corporate social responsibility (CSR) in Norway. It is argued that a basic tenet of CSR, an orientation toward the concerns of stakeholders, has a long history.Download