What is Social Responsibility - 931 Words

Social responsibility is an ethical ideology or theory by an organization or individual, has an obligation to act to benefit society at large. Social responsibility is a duty every individual or organization has to perform so as to maintain a balance between the economy and the ecosystem. A trade-off always exists between economic development, in the material sense, and the welfare of the society and environment. Social responsibility means sustaining the equilibrium between the two. It pertains not only to business organizations but also to everyone who’s any action impacts the environment. This responsibility can be passive, by avoiding engaging in socially harmful acts, or active, by performing activities that directly advance social goals. As the cost and profit were major subjects of business reports, but it should not step over social responsibility. Social responsibility involves in saving environment and using nature resources properly, serving community by defending human rights, and insuring safety standards among working environment and production. Among modern century more companies are being interested about corporate social responsibility (CSR) as business reports proved that it became a fact in business growth. CSR is a mechanism accomplished to maintain the economic, legal, and ethical responsibility to the community as same as organization. Stakeholder theory enables managers to take account of these different interests in business ethical responsibility:Show MoreRelatedWhat Is Social Responsibility?1662 Words   |  7 PagesWhat is Social Responsibility?: The idea of Social Responsibility really comes down to an ethical framework that suggests that a company’s actions should be for the general benefit of society as a whole over self-interest. This doesn’t mean that a company has to stop all profit generating operations to focus 100% of its resources on philanthropy, but rather that they make decisions that pertain to their business that help protect the individual rights of their employees and customers. W ith that saidRead MoreWhat is Corporate Social Responsibility?5030 Words   |  21 PagesWHAT IS CORPORATE SOCIAL RESPONSIBILITY? Corporate Social Responsibility has been evidently growing with Liberalization, Privatization and Globalization. As said by William Jr. Ford, Chairman, Ford Motor Co. A good company delivers excellent products and services, and a great company does all that and strives to make the world a better place, therefore booking profits for yourself in such a manner that is socially, environmentally and ethically acceptable thereby leading to an overall positiveRead MoreWhat is Corporate Social Responsibility?2032 Words   |  8 PagesWhat is CSR? CSR or Corporate Social Responsibility indicates the actions or conducts that are strategically important to businesses. CSR can also be defined as a firm’s efforts or obligations in reducing and getting rid of any detrimental effects on the community and maximizing beneficial effects to the company and community in which it operates in the long run (Mohr et al, 2001, cited Trendafilova et al, 2013). CSR usually starts with the common emphas is that firms are not only responsible to generateRead MoreWhat Is Corporate Social Responsibility?1778 Words   |  7 Pagesï » ¿Corporate Social Responsibility Corporate Social Responsibility is described in regards to the Japaneses Internet market, Yahoo Japan Corporation (the Company) along with its consolidated subsidiaries and affiliates (the Yahoo Japan Group) to involve a full commitment on their part to the realization of an Internet environment that is characterized by safety, security and harmonious with the expectations and needs of society. P38) I. Safety and Security Characteristics Ensuring safety andRead MoreWhat ´s Corporate Social Responsibilities?579 Words   |  2 Pages1. Corporate Social Responsibilities (CSR) is about how companies make profits in an ethical way. Coca-Cola has adhered to this principle and had removed a chemical ingredient(brominated vegetable oil BVO) from its drink, a chemical associated with memory loss. BVO is banned in several other countries but allowed by FDA is US. Due to an online petition, thousands have pressured Coca-Cola to remove it. Coca-Cola listened and removed BVO. The stakeholders – consumers are cared for as Coca-ColaRead MoreLuxury Brands: What Are They Doing About Social Responsibility?2480 Words   |  10 PagesLuxury Brands: What Are They Doing About Social Responsibility? David S. Waller, Marketing Discipline Group, University of Technology Sydney Anurag G. Hingorani, Marketing Discipline Group, University of Technology Sydney Abstract Although luxury goods may be synonymous with extravagance, la vishness, and even waste, it may appear to be a contradiction that a number of companies that manufacture and sell luxury brands have also discovered the value of being socially responsible. With growing criticismRead MoreWhat Is Moore s View Of Corporate Social Responsibility1563 Words   |  7 PagesWhat is Moore’s view of corporate social responsibility? After GM began to announce that the company will be closing it’s location in Flint, Michigan and will be moving down to Mexico the whole city of Flint began to deindustrialize. About half of Flint was left unemployed. Due to a lot of people losing jobs, primarily from the GM company, more and more people were being evicted from their houses and going on welfare. Because of the outsourcing it lead to Flint becoming deindustrialized. A lot ofRead MoreLuxury Brands: What Are They Doing About Social Responsibility?2488 Words   |  10 PagesLuxury Brands: What Are They Doing About Social Responsibility? David S. Waller, Marketing Discipline Group, University of Technology Sydney Anurag G. Hingorani, Marketing Discipline Group, University of Technology Sydney Abstract Although luxury goods may be synonymous with extravagance, lavishness, and even waste, it may appear to be a contradiction that a number of companies that manufacture and sell luxury brands have also discovered the v alue of being socially responsible. With growing criticismRead MoreCorporate Social Responsibility: What Went Wrong at Glaxosmithkline?2532 Words   |  11 PagesCorporate Social Responsibility: What Went Wrong at GlaxoSmithKline? When London-based GlaxoSmithKline (GSK) paid a $750 million dollar settlement as part of a plea agreement that required it’s Cidra, Puerto Rico subsidiary SB Pharmco to plead guilty for knowingly selling contaminated medicine, it laid to rest any doubts that its business practices were in direct conflict with its commitment to both quality and to creating a strong ethical culture. There are, nevertheless, important issuesRead MoreTo What Extent Is Corporate Social Responsibility Beneficial to a Company’s Performance1245 Words   |  5 PagesTo what extent is Corporate Social Responsibility beneficial to a company’s performance Corporate Social Responsibility is a philosophy that relates to a business being a part of the society, so acts in a way that not only advances its own firm but also serves the society as well. Good ethics is the cornerstone of sustainable development. In the long run, unethical behavior may harm customers and the society as a whole. Furthermore, it damages a company’s image, efficiency and effectiveness