CSR: Business Ethics and Sustainability Essay
CSR or Corporate Social Responsibility is one of the important concepts in business. But why and what it is? We will be answering the same in this sample essay.
So without further adieu, we shall start our sample essay with the definition of Corporate Social Responsibility:
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Corporate Social Responsibility: Definition
CSR or Corporate Social Responsibility refers to a self-regulated model which is used by organizations to hold themselves, stakeholders, as well as public socially accountable. In other words, we can say that Corporate Social Responsibility is when a company working in an ethical and sustainable way. Through this practice, companies become conscious of their impact (good or bad) on different aspects. These include economic factors, social factors as well as environmental factors.
For the reasons we discussed, it is often also referred to as corporate citizenship. In addition to this, applying CSR to the usual flow of business means that the company is operating in such a way that it provides and adds to that society and environment. Instead of taking away from it i.e. negative effect.
Moving on, Corporate Social responsibility is a fairly wide concept. Consequently, this may vary in form with respect to the nature of the company and industry. Thus, we shall be discussing the importance of CSR in the next section of the sample essay.
Importance of CSR
Going through the previous section, we can say that CSR is undoubtedly Important. But Why? Well, the main reason is that it has a positive impact on society and the environment. Nevertheless, we shall elaborate on this below:
Corporate Social Responsibility is as important for a company as it is for the community. In addition to obvious benefits, CSR helps strengthen the relationship between employees and corporations. Plus it helps in improving the morale as well as the connection with the environment.
Moreover, as we discussed previously, for a company to be socially responsible, it needs to hold itself as well as shareholders are accountable. Plus companies who use corporate social responsibility models, are the ones who are large enough to make a positive impact. Consequently, it is considered to be a strategy for large companies.
Moving on, there are different forms and types of Corporate Social Responsibilities. We will be looking at them in the next section of the sample essay.
Types of Corporate Social Responsibility
In this section of the sample essay, we shall be looking at the different types of CSR. So without further adieu, these types are the following:
- Philanthropical efforts
- Environment conservation
- Diversity and labor practices
- Economic responsibility
- Human rights responsibility
So these are different types and forms of Corporate Social Responsibility. Moving on, we hall be looking at the principle of the same.
Corporate Social Responsibility (CSR) Principles
CSR follows some principles. In this section, we shall be looking at these principles. These principles are as mentioned below:
- Companies should respect and protect international human rights
- Businesses should not be involved in any form of forced, compulsory labor, and child labor.
- Companies should not discriminate or disrespect any employment or occupation
- There should be a precautionary approach towards the environment
- Businesses should always promote environmental responsibilities
- Companies should use environmentally and community-friendly methods and techniques.
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