Corporate Social Responsibility Research Paper Example | Topics and Well Written Essays - 1000 words - 1

Corporate Social Responsibility - Research Paper Example This essay stresses that for a long time the key areas of corporate social responsibility haves been the well-being of the company’s employees and the protection of the environment. The civil society and the surrounding community focus on corporate social responsibility. The idea behind corporate social responsibility is that companies should not operate in isolation and detached from the broader society in their economic processes. This implies that such views as profitability, competition and survival that traditionally drove business missions are slowly losing ground to corporate social responsibility. New drivers have come because of CSR. It is necessary to explore some of these drivers and analyze how they affect business enterprises. This paper declares that the government’s diminishing role in businesses is one great driver. In many jurisdictions, citizens rely on their governments to provide the relevant regulations and legislations for the delivery of environmental and social objectives among the business communities. However, over the foregoing decades, most countries have witnessed the shrinking of their administration resources and distrust of the regulations set aside. Consequently, companies have resorted to carry out their own exploration non-regulatory and voluntary initiatives for restoring their confidence to the communities of operation. Customers have increasingly developed an interest for accountability and responsibility assumption by business enterprises. ... Customers have increasingly developed an interest for accountability and responsibility assumption by business enterprises. It is evident that the companies’ ethical conduct plays a big role in influencing the customer’s purchasing decisions. It is evident that more than 20 per cent of a company’s clients will likely to reward or punish them based on their perception on the company’s social performances. Besides, there has been an increasing pressure from investors. Lately, many investors assess the performance of companies on matters of ethical concerns before making their decisions on whether to work with the company. According to a report by the Social Investment Forum, there were assets worth more than $2 trillion that were invested in business portfolios that had social and environmental responsibility screens in the year 1999. Besides, more than 25 per cent of American customers considered ethical considerations of a company before purchasing or sell ing stocks with them. This was a survey by the Environics International. The labor market is also very competitive. Nowadays, most qualified and competent employees have increasing focusing on extra benefits beyond their paychecks. In the end, they seek out employers with operating practices and philosophies that coincide with their own doctrines. For a business enterprise to employ and retain these kinds of skilled and competent employees, they are left with no option other than improving their working conditions in terms of corporate social responsibility. Corporate social responsibility is also for the improvement of relations between supplies and business enterprises. This is because stakeholders are increasing