Corporate Social Responsibility

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26th September 2018
Blog: 09

Corporate Social Responsibility  

Corporate social responsibility (CSR) is the latest concept in a long line of philosophies aimed at ensuring that companies and corporations accept the notion of being responsible to society beyond merely providing goods or services that benefit the public on a functional level.

Armstrong (2014) noted that corporate social responsibility (CSR) is exercised by organizations when they carry on their business in an ethical way, taking account of the social, environmental and economic impact of how they operate, and going beyond compliance. 


The modern corporation is an institution of enormous economic power and social impact. Corporations have grown in size and numbers all over the world because of their ability to mobilize productive resources and create new wealth. The evolution of the corporation has given rise to new opportunities and challenges that require a redefinition of the corporation and its objectives.



According to McWilliams et al (2006) CSR refers to the actions taken by organization that further some social good beyond the interests of the business and that which is compulsory by law

Added et al (2009) explained that the thing that HR should absorb new workers but also should enhance an organization’s human resources. Moreover, well-being at work tends to be a crucial issue for HR departments at a time when people are talking more and more about psychological stress in the workplace.

According to Ehnert, Harry and Zink (2013), business perspective, sustainability helps organizations to - reduce costs and risks of losing social legitimacy. It helps to create and increase value. Sustainability is one of the strategic drivers of Corporate Social Responsibility. Community involvement, Corporate Governance and Fair Trade are the other drivers to CSR.

The expectation for organizations to demonstrate their corporate responsibility has never been greater. The spotlights on climate change, our use of natural resources, employee well-being, value chains and the global economic crisis have all led to increased pressure to manage the impacts of business activity on all stakeholders and contribute to sustainable industries. (CIPD, 2013)

References

Added, E., Dartiguepeyrou, C., Raffard, W., & Saloff, C. M. (2009). Le DRH du 3e millionaire, Paris: Pearson/Village Mondial.

Armstrong, M (2014) Armstrong’s Handbook of Human Resource Management Practice. London, Koganpage

CIPD, 2013 the role of HR in CSR, https://www.cipd.co.uk/Images/the-role-of-hr-in-corporate-responsibility_2013-sop_tcm18-9315.pdf

Ehnert, I., Harry, W. and Zink, K. (2013). Sustainability and Human Resource Management: Developing Sustainable Business Organizations. London: Springer Science & Business Media, pp.11-23.

McWilliams, A, Siegal, D S and Wright, P M (2006) Corporate social responsibility: strategic implications, Journal of Management Studies, 43 (1), pp 1–12


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