Corporate Social Responsibility Term Paper

Pages: 2 (769 words)  ·  Bibliography Sources: 2  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

Corporate Social Responsibility

The aim of any business is to earn profits. Despite of earning profits, it is also the social responsibility of companies to contribute some of their gains or resources to the society. This gives rise to the concept of Corporate Social Responsibility (CSR). Companies genarlly contribute towards the sustainable economic development, the society and the local community. CSR is also a means of developing goodwill, brand name and reputation by making environmental and social contributions. (Besser and Miller 2008)

There are some example of companies who practice CSR at large. These are: Coca-Cola, IBM and General Electric. These companies are playing in the market with their core business strategies including a broader focus on profit maximization and societal and ecological contributions for increasing the quality of life. These companies practice CSR just to increase their profits and build a good repo in the market which results in increased trust of the stakeholders.

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CSR is regarded as an asset by many organizations as this creates a positive effect on brand image, reputation and goodwill of the company. It is a fact that customer's purchasing decisions are based on the ethics of that particulare brand. If the ethical element of that brand is negative, the sales will definitely be decreased. (Besser and Miller 2008) Thus corporate social responsibility is in the best interest of the profit seeking organization. Example can be resource companies which are generally involved in projects related to community welfare. It is comparatively easier for those firms to expand their orperations and operate successfully as public consent is always with these companies with monetary grants.

Term Paper on Corporate Social Responsibility the Aim of Any Assignment

From the above discussion, we can say that the brand name and reputation of a company is very much dependent on its CSR practices. These practices play a vital role in promoting integrity, transparency, market opportunities and employee loyalty. It is a fact that the strength and sustainability of the organization is dependent on the society from which the organization is delivering its products and services. Thus, it can be said that the ethical and moral conduct of any organization is viatl for its success.

Ctrategy Execution

The company chosen for the purpose of this section is WorldCom. In late 90s, the CEO of WorldCom, Bernie Ebber adopted a strategy to acquire more businesses through… [END OF PREVIEW] . . . READ MORE

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Corporate Social Responsibility.  (2011, May 10).  Retrieved July 15, 2020, from https://www.essaytown.com/subjects/paper/corporate-social-responsibility-aim/66455

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Chicago Style

"Corporate Social Responsibility."  Essaytown.com.  May 10, 2011.  Accessed July 15, 2020.
https://www.essaytown.com/subjects/paper/corporate-social-responsibility-aim/66455.