Management Corporate Social Responsibility

Question: Should organisations be socially responsible? Critically discuss with reference to arguments for and against corporate social responsibility. Answer: The modern global business industry has made significant growth in the past few decades or so. In the past, the primary goals of business organisations are to achieve significant business outcomes. However, the increasing concern of social responsibility has created a better interface between the social public, corporate businesses and local governments to make a sustainable decision on protecting societal liability (Hond, Bakker Neergaard, 2007). As a result of the consequences, it is high time that the business enterprises must make an overview of the legal, societal, ethical, and moral effects of business assessment. The essay paper has been produced to make an explicit discussion on Corporate Social Responsibility (CSR) of modern organisations. By identifying the efficacy of CSR projects, the paper will provide how the CSR has created a positive impact on society (Visser, 2007). Understandably, maintaining significant ethical standards in CSR in not a choice now a day but a comm itment for the modern corporate world. Corporate Social Responsibility of a business organisation can actively play a massive role to improve the standards of social living. The involvement within social activities is essential for any business organisation so that they can take the responsibility of the stakeholders, social public and the environment. Previously, charity and fund raising activities have been identified as the major contribution of the corporate businesses towards the society (Vogel, 2015). But things have dramatically changed in the past couple of decades as the modern business corporations have included themselves in mainstream activities to promote social responsibilities towards the community (May, Cheney Roper, 2007). By identifying the importance of ethical standards in corporate social responsibility, modern business enterprises have critically assessed their decision-making so that the ultimate outcome can improve the condition of the social public. Meanwhile, the corporations have actively utili sed their individual wealth to create sustainable progress for the social community through job creation, education, and health promotions. Ethics is another vital parameter in defining efficient Corporate Social Responsibility. On the basis of the standards of social ethics, corporate enterprises must set ethical standards to avoid any adverse effect on the community. In the modern competitive business environment, business ethics has become a serious challenge for corporate companies. In some cases, employers are tending to follow unethical moves to increase profitability. In global downturn cases, corporate companies have bound to fire many employees that may be considered as ethically incorrect (Hunnicutt, 2009). As the employees are the responsibilities of any organisations, such unethical decisions can create massive social issues. Therefore, significant ethical standards within the CSR can be promoted so that during an economic downturn the organisations should adjust their profitability margins according to their cost of expenses without firing the employees. Intelligent business organisations have identified the importance of social interest to promote their businesses. Therefore, by serving the community can open up numerous prospects for corporate businesses. In the private sector, the companies have to fulfil the requirement and quality of products and services for the consumers. At the same time, the investors must be taken care of in the business (Haerens Zott, 2010). Therefore, the corporate social responsibility can be utilised to create a bridge between the financial performance and standard of business services. Significantly, some major factors are driving the growing interest in CSR. First of all, the latest concerns and growing expectations of the consumers, social public and stakeholders of businesses can be identified as one of the possible factors (Zu, 2009). Secondly, it is the investment decision-making of the organisations that can influence the social responsibility towards the society. Thirdly, the growing apprehensi ons of ecological degradation have been a critical factor that directed the organisations to follow significant standards (Trong Tuan, 2012). Therefore, sustainable environmental conservation has been the key aspect of protecting the natural resources. Herein, the organisations have adopted a specific waste management plan to handle the issues regarding industrial waste. In this way, following the government guidelines and regulations, the modern business organisations have protected the environment from contamination setting examples for the rest of the world. Making profits in the verge of exploiting the environment is an unethical concept that is restricted by the corporate social responsibility. Making the loss of environment and living beings to grow businesses and earn profits has been a common practice in the traditional business environment (Trebeck, 2008). But, with the rise in humanity factors and concerned about the society, corporate social responsibility has been an important success factor for the survival and growth of the business (Duarte, 2010). It brings up the path of better strategies that can be used to handle waste disposal, disposal of dirty and infected water, and deforesting vegetations to grow businesses. Some concepts of sustainable environmental management are not yet clear because the government and other concerned bodies are still yet developing technology and new ways of safeguarding the environment. It is important to check the waste before leaving or disposing of it in the clean environment. Hence, corporate social responsibility can be termed as a mechanism that ensures that organisations must be responsible for their operations. The global financial crisis in the year 2008 brought up various social norms that are never yet imagined earlier. It was a tragedy to see thousands of people losing their jobs during the financial downturn. The study shows that most of the multinational corporations utilised the financial crisis to seek financial benefits from the banks (Jones, Bowd Tench, 2009). Hence, it was found that few people were benefited from the losses of thousands of people. Here, the importance of corporate social responsibility comes that would have saved the jobs of the people who suffered from the financial gloom. Corporate social responsibility helps the organisations to get engaged to certain activities that return the community with good results. Most of the activities that are considered to be useful in return good results to the community include events that helps to solve the issues in the society, raising funds for natural calamities, activities that helps to protect the environment and policies of the organisations that increases the value of the employees. Hence, it can be seen that corporate social responsibilities are helpful in benefiting the communities and safeguard the society (Rigoberto Parada Daza, 2009). It enforces the organisations to works for the betterment of the society and the nation. Along with that, corporate social responsibility is the success factor for every organisation to grow their business in the current business scenario. It increases the reputation of the firm and provides the company with loyal customers (Crane Matten, 2007). Furthermore, corporate social policies of the organisations help to educate people who to safeguard the environment that will help the community to preserve the natural resources for the future generation. Another factor that comes in mind is the increase of global wealth. It can be seen that the income gap of the people is rising in the society. More than seventy percent of the people across the globe are considered below the poverty level. Hence, corporate social responsibility in the organisations can be helpful in providing livings to the poor people. It can be seen that corporate social responsibility brings different challenges for the organisations. It increases the investment in innovation and daily operations of the organisations. In addition to that, the corporate social responsibility also enhances the level of operations in an organisation that increases the pressure on the employees. But, when the challenges are compared with the benefits, it can be seen that corporate social responsibility is much beneficial for the multinational corporation. It helps the organisations to safeguard the society and work for the benefit of the community. Hence, it can be concluded by saying that organisations should be socially responsible for surviving and seeking growth in the current business scenario. References Crane, A. Matten, D. (2007).Corporate social responsibility. Los Angeles: Sage publications. Duarte, F. (2010). Corporate social responsibility in a Brazilian mining company: official and divergent narratives. Haerens, M. Zott, L (2010).Corporate social responsibility. Hond, F., Bakker, F., Neergaard, P. 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