Discuss about the Importance of Corporate Social Responsibility.
Corporate social responsibility is the form of initiative taken on behalf of the corporations for the purpose of social as well as environmental wellbeing. Large companies generally tend to implement innumerable initiatives within their business process of maintaining their business sustainability. In order to gain recognition and image for an organization business experts intend to implement CSR activities within the business process. As a result, the employers get a scope to show their social awareness for the community people. On the other hand, this kind of social consciousness helps to gain organizational goodwill. Maintaining superior quality of products as well as services is not the only way of maintaining business sustainability. Customers are from different geographical boundaries and attitudes. Therefore, the business organization has to show social consciousness in order to maintain their sustainability process.
For an example, Woolworths one of the most prestigious supermarket chains of Australia has implemented numerous CSR activities in order to achieve the trust of society. In order to reduce the gender gap, Woolworths has rendered equal wage gap between male and female. At the very initial stage female employees were not treated with equal respect and designation. If one individual female employee is compatible enough in holding the higher position the authority intended to deny the matter. However, in the implementation plan of CSR 2015 Woolworths has introduced gender equity plan within the business process. This particular gender equity plan ensures that both the male and female employees at the workplace would get equal benefits as well as facilities from the business experts.
Describe the main concepts:
This particular study has focused to make an in-depth analysis regarding the importance of corporate social responsibility in maintaining corporate social responsibility. In this specific study the business experts have focused on evaluating four academic articles based on the numerous aspects of CSR activities. The primary aim of these four articles is to highlight on how corporate social responsibility leaves a major impact in rendering business success as well as sustainability. In this specific part, the major concepts of those four articles would be evaluated critically. The first article “Corporate social responsibility, irresponsibility, and corruption: Introduction to the special section” published by Putrevu et al. (2012), has depicted a vast vista about the overall impact of CSR in enhancing business proficiency. Large number of eminent scholars has shown their own opinion regarding the importance of corporate social responsibility in business enhancement. In this specific article the author has stated that business organizations tend to show innumerable responsibilities while running their entire process of business in the market.
For an example, the business experts tend to focus on delivering products and services based on the market trend of local community. As a result, people belonging to other sectors are getting deprived of receiving proper services from the business experts. Naturally, global customers are showing their reluctant attitude in using the services of these business organizations. In the current business environment the business executives should always focus on maintaining equality and un-biasness. Products should not be manufactured for the people of specific culture and religious backgrounds. On the other hand, while working within the organization both male and female employees should get equal treatment from the business experts.
For an example, Woolworths has reduced carbon emission to below 10 percent. In addition this specific organization is working towards zero food waste for going to landfill. This particular article has focused to evaluate the positive impact of CSR for reducing corruption of business industries. The second article “Role of Corporate Social Responsibility (Csr) in Business Planning And Practice Of Croatian Companies”, published by Bedenik and Labas (2011) has provided an in-depth overview about the importance of corporate social responsibility in order to maintain business image and reputation. CSR can be considered as one of the most effective business strategies and policies with the help of which business experts get the opportunity of gaining organizational goodwill. Customers show their interest in purchasing products and service after the implementation of CSR. For an example, in order to maintain sustainability 60,000 tons of food waste has been diverted from landfill. In addition, around 8,300 tons of sustainable seafood has been sold to seafood counters. The primary aim of implementing corporate social responsibility is to gain the trust of society either by showing social consciousness or by providing numerous facilities to the people. Therefore, this particular study has depicted the role of corporate social responsibility from various perspectives. As a result of implementing CSR large number of business organization has faced innumerable response from the global consumers as well.
The third article CSR Communication: an Impression Management Perspective published by Tata and Prasad (2015), has portrayed the impact of management on the overall process of CSR communication. It has been observed that management has to play a major role in keeping a constant control over the entire process of CSR activities. Business managers sometimes fail to control the overall business process due to the lack of proper training and competency. In this kind of situation, the business experts fail to maintain business sustainability. This particular article has focused to make an in-depth analysis regarding the various factors that becomes a major hindrance for an organization in order to maintain corporate social responsibility at the workplace. Among most of the recognizable factors the significance of business managers are prominent. It has been observed that business organizations for implementing corporate social responsibility need proper skill and training with the help of which the entire business process can be controlled. On the other hand, the business experts need to invest large amount of money for CSR activities. If the organization fails to earn proper revenue growth from their business managers can never implement CSR activity for earning organizational goodwill.
The fourth article, Business education faculty members' perceptions of the importance of CSR and sustainability in business published by Oelfke et al. (2014) has portrayed a major vista about the significance of CSR for achieving business image and reputation. It has been observed from most of the eminent scholars that corporate social responsibility ensures not only business image and reputation. The primary objective of maintaining CSR is to create social awareness for most of the people based on which they are equally benefitted. For an example, Woolworths has rendered a new strategy within their organization. The human resource managers intended to hire most of the people belonging to the community within their business process. If the people are skillful and compatible enough in providing quality services for the organization the HR managers intend to hire those people within the services. As a result, the community people are getting the first opportunity for being employed within a specific organization.
Strengths and weakness of the concepts:
After evaluating the primary concepts of four articles it can be stated that the articles are possessed with numerous strengths and weaknesses. In this specific part the pros and cons of every single article would be critically analyzed. In the first article, Corporate social responsibility, irresponsibility, and corruption: Introduction to the special section”, the author has focused to discuss on how business organizations tend to follow irresponsibility by rendering corruption within the organization. It has been observed while evaluating the article that business experts do not follow equity between male and female at the workplace. Numerous business organizations are there that cannot follow health and safety legislations at their workplace. In this kind of situation, employees working within the organization feel insecure for being associated within the organization. Therefore, various major aspects regarding the corporate social irresponsibility have been critically evaluated in this specific study. At the same time, this article is not devoid of some of the major drawbacks as well. This specific article has avoided making a critical evaluation about the impact of corruption on the overall performance of business organization. The author has only discussed about the numerous aspects of irresponsibility as well as corruption. As a result of that corruption, the customers are showing their inmost negative attitude for purchasing their products and services.
The second article Role of Corporate Social Responsibility (Csr) in Business Planning And Practice Of Croatian Companies” has discussed in detailed about the importance of CSR in business planning. The author has evaluated on how business organizations are successful enough in achieving business reputation due to the emergence of CSR within strategy. The author has highlighted on how employees get benefits from CSR. On the other hand, the customers get good impression on the services of the organization. Therefore, it ultimately helps in enhancing business image and reputation. At the same time, the study fails to evaluate negative impact of managerial performance. While maintaining CSR activities the business managers need to have proper skill and knowledge. If the organizational managers fail to implement effective CSR strategies the entire performance level becomes meaningless. Therefore, the author could have focused in highlighting the negative effect managerial inefficiency as well.
In the third article CSR Communication: an Impression Management Perspective the author has clearly stated that the contribution of management in maintaining corporate social responsibilities at the workplace is undeniable. The author in this specific article has described in detail about the role of business managers for implementing corporate social responsibility at the workplace. On the other hand, this particular article is not devoid of some of its major drawbacks as well. The author has avoided mentioning on how the business managers of several departments have to face innumerable challenges while maintaining corporate social responsibility at the workplace. The fourth article business education faculty members' perceptions of the importance of CSR and sustainability in business has critically depicted on how business sustainability and corporate social responsibility plays a major role for achieving business success. In this specific article the author has not pointed out the necessary factors that highly prevents in maintaining business sustainability. Large number of business organization fails to implement corporate social responsibility within their business organization due to the lack of economic strength. The study could have focused in discussing some other factors as well that highly prevents in maintaining business sustainability.
Analyze the findings presented in the article:
After evaluating four articles regarding the different aspects of corporate social responsibility it has been observed that CSR plays a significant role in maintaining overall sustainability process of an organization. After the implementation of CSR, the organization like Woolworths has maintained their sustainability. In last five years the organization was facing innumerable challenges in maintaining business image and reputation. In order to overcome this kind of situation, the business experts have decided to render some innovative business strategy and policy that would help to raise social consciousness as well. Reducing the wage gap between male and female employees is one of the most effective business strategies in maintaining equality at the workplace. Corporate social responsibility not only helps to gain organizational goodwill. At the same time, this particular business strategy is able to create a social awareness as well based on which people belonging to society get facilitated.
It has been found from the evaluation of four articles that CSR plays a vital role in maintaining business reputation. If a particular individual has to face health issue the employer of that particular organization should take the responsibility of that individual. With the help of health and safety act business experts should provide necessary health facility and benefit to the employees. On the other hand, the article has critically evaluated that economy is one of the most important factors due to which large number of business organizations fail to maintain CSR at the workplace. In order to provide health facilities or any other facility to the business employees as well as customers the employers have to invest large amount of money. Therefore, before implementing CSR business experts should have economic strength.
While evaluating some of the major effects of corporate social responsibility different scholars have portrayed several theories as well as concepts. The implementation of motivational theory at the workplace is highly needed for maintaining employee performance. With the help of this particular theory employees are motivated towards the business performance. Organizational sustainability is dependent on the performance level of the employees. Therefore, maintaining employee retention plan is also important for gaining image and reputation of the organization. Providing motivation to the employees along with additional benefits and facilities is also inseparable part of corporate social responsibility of an organization. In order to create a social consciousness the business experts can implement stakeholder theory as well. The implication of stakeholder theory implies that business experts should make a major concern on the overall needs and demands of the stakeholders. The success of a particular business organization is highly dependent on the feedback provided by stakeholders. Therefore, providing necessary facilities and benefits to the stakeholders is highly important for gaining their trust. While designing a particular product business experts intend to collect necessary data regarding the demands of the stakeholders. As per the current market demands the products are prepared. Therefore, stakeholder analysis is important for fulfilling the desires of stakeholders.
The entire study has focused to make an in-depth analysis about the importance of corporate social responsibility in maintaining social awareness as well as business sustainability. Four contemporary articles written by numerous eminent scholars have been selected for this particular study in order to critically evaluate about the positive as well as negative impact of Corporate Social Responsibility in maintaining business sustainability. The entire study primarily focuses to give an in-depth overview about both the positive and negative impact of CSR on business development. Large number of scholars has provided their own opinion regarding the role of corporate social responsibility. The four articles with the help of critical evaluation have focused to analyze the major barriers of implementing corporate social responsibility at the workplace.
Bedenik, N. & Labas, D., 2011. Role Of Corporate Social Responsibility (Csr) In Business Planning And Practice Of Croatian Companies. Trziste = Market, 23(2), pp.143–164.
Oelfke, A. et al., 2014. Business education faculty members' perceptions of the importance of CSR and sustainability in business. Business education faculty members' perceptions of the importance of CSR and sustainability in business, pp.ProQuest Dissertations and Theses.
Putrevu et al., 2012. Corporate social responsibility, irresponsibility, and corruption: Introduction to the special section. Journal of Business Research, 65(11), pp.1618–1621.
Tata, J. & Prasad, S., 2015. CSR Communication: An Impression Management Perspective. Journal of Business Ethics, 132(4), pp.765–778.