Corporate Social Responsibility Essay

At present, the theme of corporate social responsibility (CSR) is one of the most disputable issues in the business world. This is due to the fact that the role of business in the development of society has significantly increased, and the requirements for transparency in the business sphere have considerably enhanced. Many companies realized that it was impossible to successfully run a business by functioning in a confined space.

Therefore, the integration of a CSR program becomes a significant feature for many leading companies. Indeed, ‘many corporations dedicate a section of their annual reports and corporate websites to CSR activities, illustrating the importance they attach to such activities’ (Servaes & Tamayo, 2013, p. 1045).

In fact, the importance of a CSR program for an organization cannot be overstated. Corporate social responsibility is distinguished by a multi-level character. As a result, CSR programs involve the following obligations: payroll tax payments, providing new job positions, upgrading the appropriate skills of workers, preventive treatment, housing, social development, employee safety, stability wages, maintaining socially significant wages, medical and social insurance for employees, sponsorship and corporate philanthropy,  promoting environmental protection, etc.

Hence, the compliance of CSR programs and principles of sustainable development will provide a combination of economic, social and environmental factors at the heart of business strategy and will enable many businesses to meet the needs of future generations.

Thus, taking the above-stated information into account, it is possible to conclude that today’s modern world live in conditions of acute social problems that greatly affect many leading companies. In this regard, corporate social responsibility programs play an important role for any organization that runs its business domestically or internationally.

 

References

Servaes, H., & Tamayo, A. (2013). The Impact of Corporate Social Responsibility on Firm Value: The Role of Customer Awareness. Management Science, 59 (5), 1045–1061.

The terms offer and acceptance. (2016, May 17). Retrieved from

[Accessed: March 28, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016.

[Accessed: March 28, 2024]

freeessays.club (2016) The terms offer and acceptance [Online].
Available at:

[Accessed: March 28, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 28, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 28, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 28, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 28, 2024]
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