Preview

Corporate Social Responsibility (CSR): The Trend By Carroll's Corporate Social Responsibility

Good Essays
Open Document
Open Document
812 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Corporate Social Responsibility (CSR): The Trend By Carroll's Corporate Social Responsibility
Corporate social responsibility (CSR) is the framework proposed by Carroll (1991) to provide managers with a way to evaluate their duties to the myriad groups with interests in their organizations. These groups are defined as stakeholders and include owners, customers, employees, the community, competitors, suppliers, social activist groups, the public and potentially others. According to Carroll (1991), the framework of CSR can be divided into four parts encompassing “the entire spectrum of business obligations”; these include economic, legal, ethical and philanthropic responsibilities. The hierarchical structure of CSR consists of a pyramid encompassing these principles with the most critical concept, economics, forming the foundation. Economic responsibilities are considered …show more content…
Beyond legal responsibilities, ethics are a reflection of society’s expectations and norms and include the principles of justice, rights and utilitarianism. Ethical responsibilities can be hard to define because they are in a state of constant flux, intrinsically linked to changing social mores and the development of the legal code. However, the essential concept of ethical responsibilities is to provide a framework businesses can utilize to avoid causing harm to stakeholders. Lastly, the final step in the pyramid is the philanthropic responsibilities, or the “icing on the cake” (Carroll 1991); implying that philanthropy is not necessarily required for a corporation to be successful. In order for a firm to be considered philanthropic, it must go beyond the moral expectations of society and freely contribute to the community and human welfare. Examples of philanthropic organizations include Tom’s, the Body Shop, more examples. In contrast to the philosophy of CSR, Friedman (2007) views social responsibility as being
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    JJT2 Social Responsibility Task 1 WGU
    • 4314 Words
    • 13 Pages

    JJT2 Social Responsibility Task 1 WGU

    Businesses, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social responsibility in business: planet, people, and profitability (3P). This is also the formulation of the triple bottom line, or TBL.…

    • 4314 Words
    • 13 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Pleasantville Social Responsibility
    • 593 Words
    • 3 Pages

    Pleasantville Social Responsibility

    As described in the book, corporate social responsibility (CSR) is one of the very important essences of ethics. Corporates should perform and run in a way that improves society and its occupants and be held responsible for any of its activities that affects people, their community and their environment. It is organization’s moral responsibility to form a commitment to give back to the society and the stakeholders of the organization since they are fundamental reason company is running by and running for. Any commercial organization makes profit out of the customers, community. Hence, it is their prime responsibility to do well and give back to the community in…

    • 593 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    Summary: Social Responsibility Strategy For Home Improvement X
    • 2761 Words
    • 12 Pages

    Summary: Social Responsibility Strategy For Home Improvement X

    Corporate social responsibility (CSR) is the idea that corporations take into account and act in way that enhances the society and inhabitants in areas in which the company conducts business. Societies, governments and corporate leadership are tasked with holding the corporation responsible for any actions that may affect community, environment and people in a negative way (Lawrence and Weber, 2011).…

    • 2761 Words
    • 12 Pages
    Better Essays
    Read More
  • Powerful Essays

    Uff Aofnla Fadl Essay Example
    • 1008 Words
    • 4 Pages

    Uff Aofnla Fadl Essay Example

    Corporate social responsibility (CSR) is a concept whereby organizations consider the needs of all stakeholders when making decisions. CSR extends beyond legal compliance to include voluntary actions that satisfy stakeholder expectations.…

    • 1008 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Best Essays

    Trend of Corporate Social Responsibility (Csr) in Uk.
    • 2128 Words
    • 9 Pages

    Trend of Corporate Social Responsibility (Csr) in Uk.

    In global markets, modern corporates have significant power to exercise a positive influence in the countries, where they buy goods and services from global suppliers in bulk. Recognising this influence is the first step to understand the contribution of the modern corporates in developing countries’ economies and in turn their self-benefit. As being giant firms at one end of the buying chain with the cost reduction advantage, they shouldn 't be reluctant of getting involved and operate with the suppliers to improve working conditions and comply with the ethical trading regulations. Business Corporations should also think and take responsibility for the environment around them. Taking this responsibility is the first step to recognize Corporate Social Responsibility. Corporate Social responsibility is when a business monitors and ensures its active compliance with the spirit of the law and ethical standards. It is a process with the aim to embrace responsibility for the company 's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. The concept of CSR is well explained by Gordan Brown, Chancellor of Exchequer, that in this era Corporate Social Responsibility goes far beyond the old trend of the past (donating money to a good cause at the end of the year) And is now an all year round responsibility the companies accept for the environment around them. To provide best working practices, the engagement in local communities and for their recognition that brand name does not only depend on quality, price and uniqueness but how they interact with companies’ workforce, community and the environment.…

    • 2128 Words
    • 9 Pages
    Best Essays
    Read More
  • Good Essays

    Corporate Social Responsiblity and Wal-Mart
    • 914 Words
    • 4 Pages

    Corporate Social Responsiblity and Wal-Mart

    Corporations deal with a wide variety of social issues and problems; some directly related to their operations, some are not. Corporate Social Responsibility (CSR) can be defined as “the actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations” (Ghillyer 78). If this is the case, establishing appropriate and practical ethical guidelines in the workplace seems to be a reasonable request as a basis for corporate operations. Wal-Mart should be an example in determining what constitutes the values associated with its fundamental purpose of Corporate Social Responsibility. The four components of CSR are financial, legal, ethical, and philanthropic (Barnett). These areas of CSR ought to exist within every company’s infrastructure; however, the organization’s primary focus is usually on performance and profit not on social conscientiousness.…

    • 914 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Corporate Social Responsibility in the C0-Operative Bank
    • 2250 Words
    • 9 Pages

    Corporate Social Responsibility in the C0-Operative Bank

    Corporate social responsibility (CSR) as a topic has received the attention of organisations and managers as a whole. The 1950s marked the start of the modern era of CSR for managers, where Howard R. Bowen (1953) defines social responsibilities in his publication as the businesses’ duty to make decision and follow principles that are acceptable to society. However, Milton Friedman (1970) argued that social responsibilities is for people not businesses, he claims that the only responsibility business managers should have is to use all their resources to maximise profit and increase shareholder’s wealth (Friedman, York Times Magazine, September 13, 1970, pp. 32-34).…

    • 2250 Words
    • 9 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Carroll's pyramid of Corporate social responsibility: A review and modification
    • 1949 Words
    • 7 Pages

    Carroll's pyramid of Corporate social responsibility: A review and modification

    IntroductionFor the past 27 years, Carroll's corporate social responsibility pyramid (CSR) has been widely used by top management and journals to better define and explore CSR. The different components in the pyramid help managers see the different types of obligations that society expects of businesses. It is easily understandable and simple. However, the new challenges faced by corporations in the 21st century have warranted a re-examination of Carroll's pyramid.…

    • 1949 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Good Essays

    Groundhog
    • 339 Words
    • 2 Pages

    Groundhog

    Corporate social responsibility is defined as the responsibility that businesses have to the societies within which they operate. The European Commission defines CSR as “a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment.” The idea behind corporate social responsibility is that companies have multiple responsibilities to maintain. These responsibilities can be arranged in a pyramid, with basic responsibilities closer to the bottom. As a business meets lower-level responsibilities that obligate it to shareholders and the law, it can move on to the higher level responsibilities that benefit society.…

    • 339 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    Csr - Corporate Social Responsibility
    • 1834 Words
    • 8 Pages

    Csr - Corporate Social Responsibility

    The theory of corporate social responsibility (CSR) is best elucidated by the statement that a company should take a wider view of how its actions and success impact society and stakeholders. CSR identifies that "doing well" and "doing good" go hand in hand. (Leadership and CSR: a Perfect Match). A commonly used definition provided by the World Business Council for Sustainable Developement states that CSR is "Continuing commitment by a business to behave ethically, and contribute to economic developement, while improving the quality of life of the workforce and their families as well as local communities and society at large".…

    • 1834 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Best Essays

    Evaluate the Recent Trends on the Ethical Considerations and Social Responsibilities of Multi-National Companies.
    • 1516 Words
    • 7 Pages

    Evaluate the Recent Trends on the Ethical Considerations and Social Responsibilities of Multi-National Companies.

    Corporate Social Responsibility (CSR) is a concept whereby organizations consider the wellbeing of the public by taking responsibility for the effect of their actions on all stakeholders; customers, employees, shareholders, communities and the environment in every aspect of their operations. This responsibility is seen to extend beyond the statutory obligation to comply with legislation and sees organizations willingly undertaking additional steps to improve the quality of life for employees and their families as well as for the local community and society at large.…

    • 1516 Words
    • 7 Pages
    Best Essays
    Read More
  • Powerful Essays

    Corporate Social Responsibility: Now and Then
    • 1553 Words
    • 7 Pages

    Corporate Social Responsibility: Now and Then

    With the recent corporate scandals involving such companies as Enron and Martha Stewart, the concept of corporate social responsibility (CSR) has once again made its way to the forefront of contemporary management ideologies. However, CSR itself is not a new concept. In fact, societies as far back as the Ancient Mesopotamians (circa 1700 BC) incorporated CSR in their businesses. "King Hammurabi introduced a code in which builders, innkeepers or farmers were put to death if their negligence caused the deaths of others, or major inconvenience to local citizens." With each new "Enron" managers of similar corporations are suddenly placed in the spotlight, causing plans to be put into action to create a more socially responsible company. Look in an annual report put out by any corporation and you will generally find an entire section, often called a "CSR Report," detailing how that corporation is continually striving to improve their CSR. So the question arises, are present corporations more or less socially responsible than the corporations of the past? Has implementing good CSR become a necessity for managers of today 's corporations?…

    • 1553 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Better Essays

    Profit Maximisation v/s CSR
    • 1383 Words
    • 5 Pages

    Profit Maximisation v/s CSR

    In broad terms, social responsibility is an ethical theory that an entity, be it a company or an individual has an obligation to conduct its activities to benefit society at large. Carroll, in his 1991 article "The Pyramid of Corporate Social Responsibility, identifies four areas that make up a corporate social responsibility pyramid: legal, economic, ethical and philanthropic. According to Carroll, “corporate social responsibility involves the conduct of a business so that it is economically profitable, law abiding, ethical and socially supportive”. This particular pyramid identified by Carroll adjusts the economic responsibility of a company as the base of the pyramid where all the other three responsibilities lie. Yet, is it such that the social responsibility of business is limited to its economic duty or should a company consider its other social responsibilities of adequate importance? An analysis is guaranteed to shed light on the issue.…

    • 1383 Words
    • 5 Pages
    Better Essays
    Read More
  • Best Essays

    Reasons for CSR assignment
    • 2057 Words
    • 9 Pages

    Reasons for CSR assignment

    Corporate Social Responsibility (CSR) is defined by Carroll as being split into four possibilities,”it is economically profitable, law abiding, ethical and Philanthropic” (Visser. W, 2005). Economic responsibilities is defined as being for profit purposes, managers focus is purely on the outcome of the business and the shareholders, there is ultimately a disregard for the effects of the organisation on the environment; “Ultimately if a factory isn’t commercially viable you have to take the decision to close…”(Financial Times, 15 February 2007, p.3). The second possibility proposed by Carroll is concerned with the legal responsibilities of the organisation, Bobby. D defines this referring to the managers being legally responsible, by doing so they must be mindful of the surrounding, for example, not to pollute rivers of sell faulty products to consumers, however some organisations will not take it further than this as their only concern is if what they do is done legally. Following that the third aspect is concerned with the organisations ethical responsibilities an “Obligation to do what is right, just and fair” (Visser. W, 2005). Carroll depicts an ethical organisation as one that must adapt aspects that are not necessarily specified by the law, including a possibility that may “not serve the company’s narrow interests” (Boddy, D 2008). but however serves social interests, a majority organisations may take this method as means of improving their economic responsibilities. Lastly discretionary or how Carroll describes it as “Philanthropic responsibilities” an…

    • 2057 Words
    • 9 Pages
    Best Essays
    Read More
  • Best Essays

    Thai Quoc Son Individual Assignment

    • 1409 Words
    • 5 Pages

    Thai Quoc Son Individual Assignment

    “Corporate social responsibility is a multidimensional construct comprising four subsets of economic, legal, ethical and voluntary philanthropic responsibilities” (Carroll, 1989). The economic responsibilities of a business are to produce goods and services that society needs and wants at a price that can perpetuate the business and satisfy its obligations to…

    • 1409 Words
    • 5 Pages
    Best Essays
    Read More

Related Topics