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Marketing Organizational Management

MA 61200
Professor: Dr. Lascelle A. Sweetland
Student: Jorge Yeshayahu Gonzales-Lara

Corporate Social Responsibility


HOMEWORK # 2

Miami, January 2019

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Corporate Social Responsibility
By Jorge Yeshayahu Gonzales-Lara

Corporate social responsibility has a great impact on society in the process of


globalization of the market. Corporate social responsibility is a self-regulated
business model that helps a company to be socially responsible, before itself, its
stakeholders, the public and society. When practicing a corporate social
responsibility company, companies can be aware of the type of impact they are
having on all aspects of society, including economic, social and environmental.

The practice of CSR means that, in the normal course of business, a company
operates in a way that improves society and the environment, instead of
contributing negatively to it.

Since the 1960s, Corporate Social Responsibility has attracted the attention of a
variety of companies and stakeholders. A wide variety of definitions have been
developed but with little consensus. Part of the problem with definitions has arisen
because of the different interests represented. A business person can define CSR
as a business strategy, an activist from an NGO can see it as "greenwashing," while
a government official may see it as a voluntary regulation. "

Corporate social responsibility has been defined by Sheehy as "international self-


regulation of private companies". Sheehy examined a series of different
disciplinary approaches to define CSR. The revised definitions included the
economic definition of "sacrificing profits", a definition of the administration of
"beyond compliance", the institutionalist views of CSR as a "sociopolitical
movement" and the focus of the law on the duties of directors. In addition,
Sheehy considered the description of Carroll's CSR as a pyramid of responsibilities,
namely, economic, legal, ethical and philanthropic responsibilities.

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This view is reflected in the Business Dictionary that defines CSR as "the sense of
responsibility of the company towards the community and the environment (both
ecological and social) in which it operates." Companies express this citizenship

(1) through of its processes of waste reduction and contamination,

(2) contributing with educational and social programs, and

(3) obtaining adequate yields of the resources employed. "

Consumer Perspectives

Most consumers agree that, while achieving business objectives, companies must
participate in CSR efforts at the same time. Most consumers believe that
companies doing charity work will receive a positive response.

What is corporate social responsibility?

 Corporate social responsibility (CSR) is a broad term used to describe a


company's efforts to improve society in some way. These efforts can range
from donating money to non-profit organizations to implementing
environmentally friendly policies in the workplace.
 CSR is important for companies, non-profit organizations and employees
alike.
 Corporate social responsibility is not a mandatory practice in the United
States; instead, it is something extra that companies do to improve their
local and global communities.

How corporations’ benefit from corporate social responsibility

 Improve the public image.


 Increase media coverage
 Employee engagement boots
 Attracts and holds investors

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How employees benefit from corporate social responsibility

 Positive work environment


 Increase creativity
 Encourages professional and personal growth
 Promote individual philanthropy

In general, businesses have a hierarchy of responsibilities to meet, ranging from


the basic (making a profit) to the benevolent (benefiting society). Here are some
examples:

 Economic Responsibilities – A business exists to make a profit for


shareholders. If it fails to do so, it likely won’t be able to pay its employees,
taxes and other obligations. A corporate social responsibility program (CSR
program) cannot be implemented until a business is profitable.

 Legal Responsibilities – Following the law is the foundation of corporate


responsibility. A company cannot benefit society if it does not adhere to
labor and tax laws or applicable industry regulations.

 Ethical Responsibilities – Once a company is profitable and meets its legal


responsibilities, it can move up the ladder to ethical responsibilities, which
might include paying higher wages, offering employees better benefits,
avoiding trade with unscrupulous companies or providing jobs to those who
would otherwise have difficulty finding work.

 Philanthropic Responsibilities – As a company meets its economic, legal


and ethical responsibilities, it can consider taking on philanthropic
responsibilities. Corporate philanthropy ranges in size and scope and can
include everything from donating time to a local charity to building a
children’s hospital.

Today, more companies see corporate social responsibility as going beyond


giving money to organizations in need.

References
1. Chen, James. Corporate Social Responsibility (CSR)
2. Wood, Donna J. (1991). "Corporate Social Performance
Revisited". The Academy of Management Review. 16 (4): 691–
718. doi:10.2307/258977. JSTOR 258977
3. Trevino, Linda. Managing Business Ethics. Wiley. Sixth Edition.

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