Question

Assignment -Opinion Paper Discuss whether you believe a business should or shouldn't engage in corporate social responsibility initiatives. Explain/justify your response using concepts discussed in class and/or identified through your own research e How important to you is a company's commitment to CSR when choosing: Where to shop? Work? Invest? . Length: 0.5-1.5 pages (no longer) e Be sure to cite your sources! When in doubt, include a

Answer 1

Answer -

Corporate social responsibilty is a term that is used to describe the involvement of business to work for the welfare of society.

It can be achieved by donating money to the people who require it or implementing some of the policies to improve the surroundings. CSR is important for the whole society. It is not a compulsory practice bt it is something out of the own will the is done for contribution towards local and global communities.

Alone csr is not going to end the world's problems.That siad csr is a way firms can benefit themselves along with the society. Csr is like pancea to world's problems. It certainly does start to move the needle towards an economy that is much closer to one where we all would like to engage ourselves.

While if we go through some statistics we will found that around 17.8 billion dollars were given to charities last year as csr. Around 55% of the consumers are ready to pay more for the products from socially responsible companies.

But the question arises that why the business need to do this.Is there any self interest behind it or they just do it in the name of morals.

For us it is very important about a company's commitment towards csr as an consumer,employee or an investor which can be understand through following points -

1. It helps in improving public image as by publicizing their involvement in social work and letting people know what you are doing for the society increases the chances of being favourable in the eyes of customers.
2. It provides media coverage which increases the visibility of their work and sheds a positive light on the company.
3. It boosts employee engagement as more employees will be ready to work for that company which has a good public image and is constantly in the media for positive reasons.Employees also get a postive workplace environment as corporates think and care about the lives of people outside the walls of their businesses.It also helps to enchance creaivity in them.
4. It attracts and retains investors as investors also pour their funds into those companies where they have faith that it will be used properly. When companies do csr activities then they reflect on that they do not only care about the profits.