Understanding the Meaning of Corporate Social Responsibility

Understanding the Meaning of Corporate Social Responsibility

Corporate social responsibility (CSR) is a business model that allows for social accountability among businesses to themselves, the stakeholders, and the public. Business firms become aware of their effect on society, including the economic, social, and environmental impact, by practicing CSR, also called corporate citizenship (Rasche et al., 2017). Therefore, the simple definition of corporate social responsibility is that it is an ordinary course of a business firm to operate in a way that enhances society and the environment rather than contributing negatively to them (Carroll, 2021). Every business organization should know they are responsible for positively impacting the community, the stakeholders, and the environment.

In other words, any business organization needs to ensure that stakeholders such as shareholders get a good return on their investment. Stakeholders such as employees should be remunerated well with wages commensurate to their input effort (Carroll, 2021). The society in which the organization operates should be positively impacted by providing opportunities to the members, offering scholarships, and trying to provide the needed infrastructure (Newman et al., 2018). Regarding the environment, business firms are responsible for operating sustainably; they should use it to promote environmental conservation rather than contribute to ecological degradation.

Corporate Social Responsibility Misunderstanding

Many times, corporate social responsibility has been confused and misinterpreted by many, making this concept funny and unnecessary. However, the truth is that business organizations should embrace the idea of corporate social responsibility because many benefits accrue for businesses that embrace and practice it. Corporate social responsibility does not mean donating money to people in society (Rasche et al., 2017). Donation of money is part of the corporate social responsibility practice, but it is not limited to money donation only. Secondly, corporate social responsibility is not an issue for large multinational corporations but an issue that both large corporations and small and medium-sized (SMEs) should practice.

Thirdly, corporate social responsibility does not mean an organization should engage in activities without the knowledge and approval of the investors. The management must inform the shareholder beforehand that it will engage in certain corporate social responsibility activities (Newman et al., 2018). Investors have a right to know how the organization is spending its resources. Investors are interested in the profits and the social activities that the company gets involved in

Connection to Social Change and Sustainability

The central concept in the definition of corporate social responsibility is a course of a business organization that boosts its sustainability and positive effects on society and the stakeholders. This definition links well with social change and sustainability. For social change, the purpose dictates that a firm must leave positive change to society (Rasche et al., 2017). The change could be about building infrastructure and supporting education and people’s health. All these are meant to promote social people’s definition and capture the idea of environmental conservation; business firms should operate sustainably to avoid harming the environment. Thus, businesses use responsibly, which promotes ecological sustainability.

Mission Statements

A mission statement is a company’s commitment statement that states the organization’s company’s overall goals and explains why the organization exists (Carroll, 2021). Examples of the best mission statements that align with the corporate social responsibility call include the Caterpillar Company mission statement: “We strive to provide the best value to customers, grow a profitable business,” develop and reward people, and encourage social responsibility.” Secondly, Adidas’ mission statement states, “We are a global organization that is sociaAdidas’ environmentally responsible,” that embraces creativity and diversity, and is financially rewarding for our employees and shareholders.” My proposed mission statement for Global Pro-Tech is, “We strive to develop”integrative technology that will be used sustainably to”exceed customers’ expectations.”

References

Carroll, A. (2021). Corporate Social Rescustomers’y: Perspective” on the CSR Construct’s Development and Future. Sage Journals, 60(6), 1258-1278

Newman, CConstruct’s018). Corporate Social Responsibility in a Competitive Business Environment. The Journal of Development Studies, 56(8)

Rasche et al. (2017). Corporate Social Responsibility. Cambridge University Press

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“corporate social responsibility becomes a large part of everyday life in”large and small organizations, “or for-profit and nonprofit organizations. But how, if at all, does that change what this term means? Perhaps most importantly, what does it mean for a corporation or company to be “socially responsible”?

Understanding the Meaning of Corporate Social Respons” ability

Consider this”scenario: You have been recently hired as an HR executive for Global ProTech. You know that your expertise and experience with CSR are the main reasons you got the job. You have completed your first major meeting with leadership, where you were charged with clarifying a better understanding of CSR throughout the company. You have also been asked to assume the formal responsibility of helping advance CSR as a new initiative.

To complete this Assignment, review the Learning Resources for this week and respond to the following key points in a 2- to 3-page academic paper.

**Create an operating definition of “corporate social responsibility,” i.e., one that can be understood and used “y many levels of employees throu”the company.
**Explain what CSR does not mean (e.g., what misunderstandings may occur about its meaning within organizations).
**Using your definition, analyze its connection to social change and sustainability.
**Review the Global ProTech mission statement, which you can find on the Global ProTech website under “About Us.” Review other organizations’ mission statements to explain a missing”n statement”t using 2–3 organizations you identify. Share at least two examples that you believe effectively incorporate CSR.
**Amend the current Global ProTech mission statement by proposing a revision that incorporates language addressing the inclusion of CSR as a new component of the mission statement for Global ProTech.