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Title: Importance and impact of corporate social responsibility on Businesses’ success
Description: Industrialization and growth of businesses in different sectors provided the world with high opportunity for enhancing their profitability and productivity. Many businesses in different sectors had been enhancing their positioning within the national and international markets, throughout pushing their innovativeness and productivity. As it had been argued that the industrialization processes are considered to be leading to various harms over the society, while the growth and profitability of the companies are considered to be attained over the expenses of the society. Within the highlight competitive markets and the customers-oriented organizations, many businesses started to direct their attention for the enhancing the values that are being provided to not only the customers, but also the entire societies that are being served. One approach that had been followed for the growing of the values provided is considered to be the corporate social responsibility, which had been focusing on the organizational commitment toward the protection, providing values, and the enhancement of the quality of the surrounding environment and society. The concept had been attracting many of the organizations, regardless their sizes and their nature of businesses, for the purpose of the fulfillment of their responsibilities toward the society. The corporate social responsibility concept had been adopted by organizations for many reasons. Regardless the differences within the intentions behind the corporate social responsibility’s practices, the positive consequences that are enjoyed by the customers and the society’s stakeholders ensure that the companies should be motivated for the sustainability of their corporate social responsibility activities and programs. In addition, organizations that had been following corporate social responsibility’s practices ensured to be holding higher rates of success within their markets, higher employees’ commitment, and higher customers’ loyalty. According to Lichtenstein et al. (2004), the ideology of the corporate social responsibility became inevitable, to which no organization has privilege to whether to follow its standards or not (Swaen & Lindgreen, 2010). These findings ensure that study of corporate social responsibility should be conducted effectively for identifying the major approaches that would be leading to the organizational survival within the markets. Throughout the following research, there would be highlighting for the definition of the corporate social responsibility, the main types and approaches that are being followed for the attainment of the corporate social responsibility of organizations. In addition, there would be analyzing for the impacts of the corporate social responsibility on both of the businesses’ success and the society’s wellbeing.
Description: Industrialization and growth of businesses in different sectors provided the world with high opportunity for enhancing their profitability and productivity. Many businesses in different sectors had been enhancing their positioning within the national and international markets, throughout pushing their innovativeness and productivity. As it had been argued that the industrialization processes are considered to be leading to various harms over the society, while the growth and profitability of the companies are considered to be attained over the expenses of the society. Within the highlight competitive markets and the customers-oriented organizations, many businesses started to direct their attention for the enhancing the values that are being provided to not only the customers, but also the entire societies that are being served. One approach that had been followed for the growing of the values provided is considered to be the corporate social responsibility, which had been focusing on the organizational commitment toward the protection, providing values, and the enhancement of the quality of the surrounding environment and society. The concept had been attracting many of the organizations, regardless their sizes and their nature of businesses, for the purpose of the fulfillment of their responsibilities toward the society. The corporate social responsibility concept had been adopted by organizations for many reasons. Regardless the differences within the intentions behind the corporate social responsibility’s practices, the positive consequences that are enjoyed by the customers and the society’s stakeholders ensure that the companies should be motivated for the sustainability of their corporate social responsibility activities and programs. In addition, organizations that had been following corporate social responsibility’s practices ensured to be holding higher rates of success within their markets, higher employees’ commitment, and higher customers’ loyalty. According to Lichtenstein et al. (2004), the ideology of the corporate social responsibility became inevitable, to which no organization has privilege to whether to follow its standards or not (Swaen & Lindgreen, 2010). These findings ensure that study of corporate social responsibility should be conducted effectively for identifying the major approaches that would be leading to the organizational survival within the markets. Throughout the following research, there would be highlighting for the definition of the corporate social responsibility, the main types and approaches that are being followed for the attainment of the corporate social responsibility of organizations. In addition, there would be analyzing for the impacts of the corporate social responsibility on both of the businesses’ success and the society’s wellbeing.
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Importance and impact of
corporate social responsibility on
Businesses’ success
TABLE OF CONTENTS
1
...
1
2
...
2
2
...
Concept of Corporate social responsibility
...
2
...
2
2
...
Importance and impact of corporate social responsibility on Businesses’ success
...
Conclusion
...
References
...
INTRODUCTION
Industrialization and growth of businesses in different sectors provided the world with
high opportunity for enhancing their profitability and productivity
...
As it had been argued that the
industrialization processes are considered to be leading to various harms over the society, while
the growth and profitability of the companies are considered to be attained over the expenses of
the society
...
One
approach that had been followed for the growing of the values provided is considered to be the
corporate social responsibility, which had been focusing on the organizational commitment
toward the protection, providing values, and the enhancement of the quality of the surrounding
environment and society
...
The corporate social responsibility concept had been adopted
by organizations for many reasons
...
In addition,
organizations that had been following corporate social responsibility’s practices ensured to be
holding higher rates of success within their markets, higher employees’ commitment, and higher
customers’ loyalty
...
(2004), the ideology of the corporate social
responsibility became inevitable, to which no organization has privilege to whether to follow its
standards or not (Swaen & Lindgreen, 2010)
...
Throughout the following research,
there would be highlighting for the definition of the corporate social responsibility, the main
types and approaches that are being followed for the attainment of the corporate social
Page 1 of 6
responsibility of organizations
...
2
...
1
...
One of the efforts that focused on the defining of the corporate social
responsibility had been introduced by Holliday, Schmidheiny, and Watts (2000: P
...
These norms direct the organizations to focus on the individuals, follow an
ethical approach, put employees’ first, and diffuse the principals of transparency and ethical
education among their organizations
...
For instance, the law can’t be considered sufficient or enough for the organizations
to fulfill their responsibilities toward their societies
...
108)
...
2
...
The stages of the pyramid of corporate social responsibilities are
economic responsibilities, legal responsibilities, ethical responsibilities, and philanthropic
responsibilities
...
In addition, organizations should be following
an ethical approach, which is based on the idea of not to harm, as well as do the right thing
...
This is
how the society would be expecting the organizations to be behaving
...
42)
...
3
...
For instance, the studies showed that the organizations
that are following corporate social responsibility are considered to be holding higher ability to
attract employees, retain their current employees, and enhance employees’ commitment to the
organization
...
19)
...
In other words, the success of the organizations or the
development of corporate social responsibilities will be beneficial for the customers and will
enhance the customer’ loyalty to the organization, but the customers may hold doubts based on
the probability that these initiatives would be hurting the organizational productivity and quality
...
239)
...
For instance, the studies of the corporate social
responsibility organizations showed that this type of organization is considered to be performing
very well financially, in terms of financial returns, prices of their stocks in the stock markets, and
the return on investments
...
For instance,
Page 3 of 6
it had been ensured that the investors trust more in the organizations that follow a framework of
CSR than the organizations that don’t (Luo & Bhattacharya, 2006: P
...
3
...
The organizational management of the large and he small
organizations should be focusing on the fulfillment of the needs and the demands of the
stakeholders, which would be effectively conducted, throughout the enhancement of the
organizational corporate social responsibility
...
Instead, the corporate social responsibility would require
the continuous commitment to the development and the growth of the internal and external
societies of the organizations, including the employees, the customers, the public, the investors,
and more
...
For instance, the failure of the organizations to follow corporate
social responsibility would be ensuring that the organizational performance will be declining
within the markets, as the organizations would not be able to retain its good employees, will fail
to gain customers’ loyalty, and the organizations’ financial performance within the markets will
suffer
...
REFERENCES
Bhattacharya, C
...
(2001: P
...
Does Doing Good Always Lead to Doing Better?
Consumer Reactions to Corporate Social Responsibility
...
Retrieved from https://faculty
...
duke
...
Carroll, A
...
42)
...
Business Horizons
...
amazonaws
...
edu
...
pdf?AWSAccessKeyId=AKIAJ56TQJRTWSMTNPEA&Expire
s=1478666133&Signature=6pPMV0Sc8DrBomzXxpaJgQUCUkY%3D&responsecontent-disposition=inline%3B%20filename%3D
Hay, B
...
, & Vietor, R
...
108)
...
Routledge
...
...
eg/books?hl=en&lr=&id=RlO3v2MdxncC&oi=fnd&pg=PA10
7&dq=corporate+social+responsibility&ots=ZwsEMZCrR_&sig=kQEOHnmzVpEDsTB
DMa9qTGtrPjI&redir_esc=y#v=onepage&q=corporate%20social%20responsibility&f=f
alse
Luo, X
...
(2006: P
...
Corporate Social Responsibility, Customer
Satisfaction, and Market Value
...
70, No
...
Retrieved from
https://faculty
...
duke
...
Swaen, V
...
(2010)
...
International Journal of
Management Reviews, Volume 12, Issue 1, Pages 1–105
...
wiley
...
1111/j
...
2009
...
x/full
VASAN, M
...
19)
...
EduPedia Publications
Pvt Ltd , ISBN No
...
Retrieved from
http://s3
...
com/academia
...
documents/37659636/9781512053005_Interior
Title: Importance and impact of corporate social responsibility on Businesses’ success
Description: Industrialization and growth of businesses in different sectors provided the world with high opportunity for enhancing their profitability and productivity. Many businesses in different sectors had been enhancing their positioning within the national and international markets, throughout pushing their innovativeness and productivity. As it had been argued that the industrialization processes are considered to be leading to various harms over the society, while the growth and profitability of the companies are considered to be attained over the expenses of the society. Within the highlight competitive markets and the customers-oriented organizations, many businesses started to direct their attention for the enhancing the values that are being provided to not only the customers, but also the entire societies that are being served. One approach that had been followed for the growing of the values provided is considered to be the corporate social responsibility, which had been focusing on the organizational commitment toward the protection, providing values, and the enhancement of the quality of the surrounding environment and society. The concept had been attracting many of the organizations, regardless their sizes and their nature of businesses, for the purpose of the fulfillment of their responsibilities toward the society. The corporate social responsibility concept had been adopted by organizations for many reasons. Regardless the differences within the intentions behind the corporate social responsibility’s practices, the positive consequences that are enjoyed by the customers and the society’s stakeholders ensure that the companies should be motivated for the sustainability of their corporate social responsibility activities and programs. In addition, organizations that had been following corporate social responsibility’s practices ensured to be holding higher rates of success within their markets, higher employees’ commitment, and higher customers’ loyalty. According to Lichtenstein et al. (2004), the ideology of the corporate social responsibility became inevitable, to which no organization has privilege to whether to follow its standards or not (Swaen & Lindgreen, 2010). These findings ensure that study of corporate social responsibility should be conducted effectively for identifying the major approaches that would be leading to the organizational survival within the markets. Throughout the following research, there would be highlighting for the definition of the corporate social responsibility, the main types and approaches that are being followed for the attainment of the corporate social responsibility of organizations. In addition, there would be analyzing for the impacts of the corporate social responsibility on both of the businesses’ success and the society’s wellbeing.
Description: Industrialization and growth of businesses in different sectors provided the world with high opportunity for enhancing their profitability and productivity. Many businesses in different sectors had been enhancing their positioning within the national and international markets, throughout pushing their innovativeness and productivity. As it had been argued that the industrialization processes are considered to be leading to various harms over the society, while the growth and profitability of the companies are considered to be attained over the expenses of the society. Within the highlight competitive markets and the customers-oriented organizations, many businesses started to direct their attention for the enhancing the values that are being provided to not only the customers, but also the entire societies that are being served. One approach that had been followed for the growing of the values provided is considered to be the corporate social responsibility, which had been focusing on the organizational commitment toward the protection, providing values, and the enhancement of the quality of the surrounding environment and society. The concept had been attracting many of the organizations, regardless their sizes and their nature of businesses, for the purpose of the fulfillment of their responsibilities toward the society. The corporate social responsibility concept had been adopted by organizations for many reasons. Regardless the differences within the intentions behind the corporate social responsibility’s practices, the positive consequences that are enjoyed by the customers and the society’s stakeholders ensure that the companies should be motivated for the sustainability of their corporate social responsibility activities and programs. In addition, organizations that had been following corporate social responsibility’s practices ensured to be holding higher rates of success within their markets, higher employees’ commitment, and higher customers’ loyalty. According to Lichtenstein et al. (2004), the ideology of the corporate social responsibility became inevitable, to which no organization has privilege to whether to follow its standards or not (Swaen & Lindgreen, 2010). These findings ensure that study of corporate social responsibility should be conducted effectively for identifying the major approaches that would be leading to the organizational survival within the markets. Throughout the following research, there would be highlighting for the definition of the corporate social responsibility, the main types and approaches that are being followed for the attainment of the corporate social responsibility of organizations. In addition, there would be analyzing for the impacts of the corporate social responsibility on both of the businesses’ success and the society’s wellbeing.