Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 1750 words

Corporate Social Responsibility - Essay Example Corporate Social Responsibility There are various potential conflicts in the method of preparing documents and construction of strong approach and business activities. Corporate Responsibility is just a relative approach and has an objective basis, which is also known as unsustainable development methodology (Aras, Aybars and Kutlu, 2010). It is also considered as a radical managerial approach. The various other CSR theories help in development of continuums with the focus on integration of business activities with community activities. Organizations have developed several measures for dealing with the strategic societal, environmental and community needs which have led to the incurring of huge amount of expenditure in the organizations. Small and medium enterprises do not have the necessary resources for developing or implementing the CSR tools and approaches (Burger, 2011). When a company wants to improve its social performance, it divulges itself through social activities like providing charitable donations, org anizing charitable associations and sponsoring activities. The study will deal with the concepts of CSR and its role in financial crisis along with its future prospects. The author of the study will also highlight the relevance of CSR and the guidelines for implementing CSR techniques developed by leading associations. Finally, the study will also incorporate the various legal requirements, regulations and guidelines related to the CSR concept. Evolution & History of Corporate Social Responsibility Corporate Social Responsibility (CSR) is regarded as a technique which helps the organization in its evaluation of the business activities and its impact on the society and environment through ethical and transparent decision making (WBSCD, 2013). CSR has evolved as a challenge for the entire business and academic community as it involves a time consuming systematic approach and also a thorough knowledge of the existing sustainable issues (Chen, 2011). From the academic perspective, it ha s become one of the most relevant and purposeful research topics which have provided relevance to the functioning of the organizations (Chen, 2011). In the academic perspective, it has moved on to an overall new organizational level which already includes the impact on the organizational outcome. Theorist Carroll (1960, cited by Chen, 2011) has laid emphasis on the theoretical orientation of the normative and performance oriented ethics which have the ability to increase the organizational outcome. This in turn have a positive impact on the exiting business systems. The evolution of CSR concept has been associated with the inception of the subject of organizational behaviour. In 1919, the shareholders of Ford had decided to grant the request of the Dodge brothers for maximum dividends. This decision was made by the director of the company, Mr. Henry Ford whose main intention was to reinvest the accumulated gains of the company on plant expansion. He stated that one of the major obje ctives of Ford was to cater to the betterment of community development. William Clay Ford Jr had tried his best to convince the existing shareholders regarding the organization’s contribution towards the welfare of the entire society and community. Theorist Bowen (1980, cited by Chen, 2011) had regarded that organizations are vital fulcrum of power and the actions of the organizatio