Essay on Corporate Social Responsibility

Essay on Corporate Social Responsibility

Introduction

Corporate Social Responsibility can be described as an evolving business practice which allows the company to operate in a business model that is self-regulating hence making it socially accountable

It is because of the corporate social responsibility that the company gets carry itself, the public, and the stakeholders in a way that is conscious of any form of impact that they bring in their sphere of operation.

Additionally, the CSR acts as a framework which the company will be using in streamlining its businesses in a way that it enhances positive contribution to the environment and the society.

Corporate social responsibility is dependent on the industry and company because its underlying activities can be through philanthropy, volunteer efforts, and CSR programs. It is, therefore, a win-win situation because such acts and activities will boost the company’s brand while also benefiting the community.

Companies and businesses are striving to ensure that the employees, customers, management, and other stakeholders exist in a manner that they form a single society or a community. It is through Corporate Social Responsibility that a sense of socially conscious environment is created hence making it attractive to customers.

How Corporate Social Responsibility Benefits a company

It improves the company’s image by making it a socially conscious image.

The company will have a better and presentable image through participation and implementation of CSR. Given that the company will have to help the community in handling some matters, there will be portraying an image that they are ready to assist the society. It is because of this assistance that they offer to the society that they get to attract customers. The more they participate in CSR programs, the more their brand gains community sympathy.

Corporate social responsibility helps the company in its expansion. The expansion program comes from the areas covered by the company, whereby they will attract the customers from their operation sphere.

The company will, therefore, have to expand to accommodate the increasing number of employees and sales made. It is for this case that they will get to increase its stakeholders and employees to accommodate the company’s growth. The consumers will tend to choose a company brand based on their social activities, and as such, the employees should conduct themselves in the best manner possible.

A company with a robust CSR program will be on a safe side in terms of legal risks. If the company will continuously practice philanthropic activities and implement CSR program, they will not be engaging in activities such as poor environmental treatment. The company will be caring about the welfare of their immediate community, such as proper disposal of wastes; hence they will not attract lawsuits.

Better media coverage and reputation. The media has been focusing on safeguarding climate. Programs such as green energy and climate change are the two common entities that have been mastered by companies, and it is through their contribution of ideas and finances that they get to protect its discourse. For example, the companies who consume a lot of electric power have resorted to using green energy to help in containing the resultant effects brought by such activities to the environment.

Ethical labor practices, which are another form of CSR, is also benefiting the company. This is because happy employees will likely work to their levels best to ensure that they give back to the company.

Significant capability in terms of attracting talent and staff retention. The company that abides by the business and labor laws will place themselves in a better position of getting the best output from the employees while also attracting the best minds into the company. The company will also be on a safer side when it comes to retaining its employees.

Better brand recognition. The company will get better recognition because they will be known to a significant number of customers because of their community and volunteer programs. The customers, investors, and other potential stakeholders would like try their investments in companies which have good reputation on matters of social responsibility.

Challenges of Corporate Social Responsibility in the competitive market space

Cost: it will be costly for the company because it will have to look for methods that will best fit their operations as well as means in which they will embed CSR framework into their daily activities.

– The company will have to meet implementation costs for the CSR requirements such as how they operate and their sphere. They will have expenses accruing from differed operation modes which are compulsory for any operational organization.

The company will also have to train its employees on handling these matters, investments that are channeled to dedicated programs meant for uplifting the society and environmental safety measures.

Clash in business objectives: the primary objective of any operational company, business or organization is to make or create profits through its day to day activities. Implementation of the Corporate Social Responsibility will however affect this objective because a significant part of decision making will be on people’s interests rather than company objectives.

Conclusion

The stated approach of using corporate social responsibility can help the company in picking up the market easily and subsequently gain dominance. The company should ensure that they have proper plans in place enough to address aspects such as environmental violation and health standards. The major focus should be research and innovation, eco-friendly packaging as well as other sustainability initiatives which can promote social and financial responsibility of the company. The company gives close attention to the customer demands hence making it easier to attract customers. There is also the need for proper delegation of this model to avoid harming the company in the long run.

Consumers and customers are wise enough to read such greenwashings: Greenwashing is described as corporate practices which companies use so that the society and customer can see them to be taking care of the environment but in essence, they are causing more harm than good. For instance, there are cases where a company will be labelled as the environment warriors or guardians yet in essence, they are using plastics to sell their products.

There is high competition in the current market space and the companies who uses these approaches in their operations are likely to collapse because they will not be competitive enough to meet market intensity.