Corporate Social Responsibility - Survey of Business Functions

Corporate Social Responsibility

Survey of Business Functions

Bellevue University

Mazen Mujahed

Abstract

Business is defines as a profit seeking activity where companies in return produce goods and services to society. In the past, we can arguably make the statement that this was company’s main responsibility. Also how do they gain stakeholder interest in a business’s activities was a big question. Now days, Businesses have to consider certain roles as part of their duties towards their activities because consumers have become increasingly sensitive to issues such as the environment and human rights. Also investors would likely respect the consumer’s view of a company when evaluating their performance in economically, socially and environmentally areas. In regards to those reasons it is becoming more notable that businesses are trying to satisfy their stakeholders’ interest. Companies have figured out a way of doing so. It is thorough their Corporate Social Responsibility programs. First section of this paper is about defining the theory of CSR, and stating why it is becoming an important aspect of company’s interest. Next I am going to explain the users and target of such a practice, touch on how practicing this theory would contribute to business growth and development. Then I will implement CSR to the construction industry focusing on a particular candidate. Last section is an assessment task. It talks about what can be done to build on this experience and improve.

Assumption

CORPORATE SOCIAL RESPONSIBILITY is a phrase that we have all heard about it a lot without giving it thought of what it means. The notion of CSR appears to be fairly new. But in fact, the idea of companies to be socially responsible has been there for a longtime where companies practiced it as a business ethics requirement. “Not long ago, CSR programs were little more than a Public Relation exercise” (Saunders, 2006/2007). Now the idea of social responsibility plays important role in companies’ policies. Businesses are considering being social responsibility as an essential, high priority practice. The Public’s expectations of business behavior have increased beyond just complying with the governments’ laws and regulations, but are a major part of society involvements.

It is all starts with the intentions of doing well. But is just “doing good” is enough for companies in today’s standards. In defining corporate social responsibility, a simple definition would be, it is the activities that companies carry out to profit society as a whole. Some scholars define social responsibility as “achieving commercial success in ways that honor ethical values and respect people, communities and the natural environment” (Cramer & Hirsehland, Nov/Dec 2006).

CSR can be identified with several definitions. Once Votaw wrote ��corporate social responsibility means something, but not always the same thing to everybody. To some it conveys the idea of legal responsibility or liability; to others, it means socially responsible behavior in the ethical sense; to still others, the meaning transmitted is that of �responsible for’ in a causal mode; many simply equate it with a charitable contribution; some take it to mean socially conscious; many of those who embrace it most fervently see it as a mere synonym for legitimacy in the context of belonging or being proper or valid; a few see a sort of fiduciary duty imposing higher standards of behavior on businessmen than on citizens at large’’ (Votaw, 1972). Concluding our thoughts of what is CSR, it can be looked at in different assumptions depending on the situation a business is using it. The main assumptions I would like to touch on in this paper are how CSR relate to ethic, social incorporation and Financial Profits.

Ethics

It is defined as the principles and standards of moral behavior that are accepted by society and right versus wrong (Bovee, Thill, & Muscan, 2005). This is the basic broad characteristics a business should consider in their daily practices. so how do business do so ? two common approachs to do so are universal rights and the common good approch (Garriga & Mele, 2004).

Universal rights is an important factor of ethics behavior. Without going into details about this