Social Responsibility And Its Impact On Society - 1579 Words

INTRODUCTION: To sustain the present natural resources for the future generations to come was considered to be the social responsibility for each and every human being on this planet, therefore sustainability, accountability and transparency of resources became the basic ingredients for social responsibility. Only in 1953, Bowen raised a question â€Å"What responsibility to the Society can business people be reasonably expected to assure† that evaluated the term Corporate Social Responsibility abbreviated as CSR. The CSR in 1966 was then defined as:â€Å"Social responsibility, therefore, refers to a person’s obligation to consider the effects of his decisions and actions on the whole social system. Businessmen apply social responsibility when they consider the needs and interest of others who may be affected by business actions. In so doing, they look beyond their firm’s narrow economic and technical interests† by Keith Davis and Robert Blomstrom. Even the European Commission explained CSR as - â€Å"By stating their social responsibility and voluntarily taking on commitments which go beyond common regulatory and conventional requirements, which they would have to respect in any case, companies endeavour to raise the standards of social development, environmental protection and respect of fundamental rights and embrace an open governance, reconciling interests of various stakeholders in an overall approach of quality and sustainability,† It was only in the 1980’s that depletingShow MoreRelatedSocial Responsibility And Its Impact On Society1444 Words   |  6 Pagesoperated businesses are an essential part of today’s society. Too often companies stress the quantity of profits over the quality of products. Not only do these kinds of choices belay negative social responsibility, this type of attitude can damage a growing business’s reputation. Company Q’s lack of concern for the underlying welfare of some of its primary stakeholders shows an attitude of impartiality towards the bottom line. Social responsibility is no longer expressed by how much money a companyRead MoreSocial Responsibility And Its Impact On Society2041 Words   |  9 Pages6/4/2015 Social Responsibility Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades, however, it has become of increasing concern to the business world. This has resulted in growing interaction between governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. Today, however, businesses must also reflect on the legal, ethical, moral and social consequencesRead MoreSocial Responsibility And Its Impact On Society Essay1441 Words   |  6 PagesSocial Responsibility is the idea that a company should embrace its social responsibilities and not be solely focused on maximizing profits. Social responsibility has a hidden connotation attached to it, which is awareness. When I hear the phrase â€Å"being socially responsible,† I think of the repercussions that come with not being socially responsible. According to ASQ.com, social responsibility is â€Å"The responsib ility of an organization for the impacts of its decisions and activities on society andRead MoreSocial Responsibility And Its Impact On Society904 Words   |  4 Pagesmore we understand the better grasp we can take about a situation. However, the idea of social responsibility is one that seems to continually be ignored or missed by many. More often than not, the ones we place as a pillar of society are the frequent offenders of this act. Many fail to rise to the occasion and accept accountability for the consequences of their actions while accountability and responsibility fall hand in hand. We must learn to accept responsibly as a community, not only for eachRead MoreCorporate Social Responsibility And Its Impact On Society1382 Words   |  6 Pageson a formation of things as they actually are, in spite of how we want them to be, with an inclination to be practical and realistic. Corporate social responsibility has been defined in many ways; one way to define CSR is that CSR tak es into consideration how companies manage their business processes to generate on the whole a positive impact on society. Stakeholders are people who are affected by a business. Employees are one of the main stakeholders in any business. What has emerged in recent timesRead MoreCorporate Social Responsibility and Its Impact on Society2115 Words   |  9 PagesCSR in India and Its Impact on Society Corporate social responsibility (CSR) is about how businesses align their values and behavior with the expectations and needs of stakeholders - not just customers and investors, but also employees, suppliers, communities, regulators, special interest groups and society as a whole. CSR describes a companys commitment to be accountable to its stakeholders. With businesses focusing on generating profits, sustainability was not a popular concern among companiesRead MoreCorporate Social Responsibility and Its Impact on Society2105 Words   |  9 PagesCSR in India and Its Impact on Society Corporate social responsibility (CSR) is about how businesses align their values and behavior with the expectations and needs of stakeholders - not just customers and investors, but also employees, suppliers, communities, regulators, special interest groups and society as a whole. CSR describes a companys commitment to be accountable to its stakeholders. With businesses focusing on generating profits, sustainability was not a popular concern among companiesRead MoreAn Assessment of the Impact of Corporate Social Responsibility on Nigerian Society: the Examples of Banking and Communication Industries18990 Words   |  76 PagesJournals Full Length Research Paper An assessment of the impact of corporate social responsibility on Nigerian society: The examples of banking and communication industries Adeyanju, Olanrewaju David Department of Financial Studies Redeemer’s University, km 46, Lagos Ibadan Expressway Mowe, Ogun State E-mail: davfol@yahoo.com, Tel No.: 07037794073 Accepted 30 January, 2012 In the Nigerian society, Corporate Social Responsibilities [CSR] has been a highly cotemporary and contextual issue toRead MoreSocial Responsibility Of A Business1444 Words   |  6 Pagesarticle on social responsibility drew a lot attention from other scholars like Friedman. In view of this, this paper will discuss and define the concept of social responsibility of a business to its workers, stakeholders, and society; how the perspectives align with that of Drucker; comparing Cohen’s opinion with that of Friedman and finally determines which of the two individual’s opinion best aligns with the current business climate promoting a green environment. Concept of social responsibility Read MoreCorporate Social Responsibility Definition1011 Words   |  5 PagesThis research study is about what the Corporate Social Responsibility (CSR) is, how people define and how I understand this term? According to my research and observations, CSR does not have only one and constant definition. I have read a lot of definitions of CSR and in fact, they are similar but not the same. Briefly, definition and understanding of CSR depends on person to person. Thus, I am going to talk about definitions of the CSR and I will define my own perspective about the CSR.