|Type of paper:
|Knowledge Business Social responsibility Organizational culture
Business operations are hosted within society, and it expects the organization to show operation responsibility. Most corporates are faced with increasing demands of looking beyond their interest and hence prioritize on society issues. The relationship that a business has with employees and stakeholders is very important to its success. A lot of people thought that organizations are taking advantage from the communities and consumers. However, this essay will evaluate the role of corporate regarding ethical, economic, social, environmental, and financial aspects, since these are the same factors that affect the organization in the long term.
International corporations have a primary duty to undertake and or promote corporate social responsibility in their programs. They must take into consideration the different stakeholders who are likely to be affected by their actions during such exercises. Primary stakeholders are those individuals or legal persons who are affected directly by the corporation's corporate social responsibilities by working for it. They also have a direct interest in it, such as shareholders, employees, consumers, suppliers and internal managers, management, and people who are linked directly to delivering the corporation's success, such as distributors of its products (Zavadszky, 2015). An employee helps to address diversity, mentoring and training. The supplier helps to address any labour standard or any required program. Regulators and the Government are regarded as one of the key stakeholders, and this is because they help an international company address lobbying, regulations or compliance issues, and public policies.
Secondary stakeholders are individuals or legal persons who are indirectly affected by the corporation's business. They, however, have an interest in the corporation's business by being in its environment or consume the company's products. These include the local community, government, NGO, and media, consumers, and the general public. (William and David, 2011). Corporation's actions either positively or negatively impact these stakeholders and hence have to be considered in corporate social responsibility by the companies.
Responsibilities Towards the Physical Environment
Corporations have a primary duty to conserve the environment. The physical environment includes land, water bodies, and the atmosphere. They should embrace manufacturing environmentally friendly products, which are organic and entirely dispensable through destruction. They should also abstain from disposing of waste to the environment through fumes or physical matters such as sewerage and instead of recycling and reusing it. It is also imperative for them to use locally available rejected materials to manufacture their products, such as plastics and metallic waste. Corporations should also be involved in the direct improvement of the environment through social activities such as tree planting and garbage collection. They should sensitize the public on the importance of maintaining the environment clean by putting up garbage collection bins in strategic locations (Crowther and Aras 2008).
Responsibilities Towards the Social Environment
The social environment relates to the immediate social, and cultural context through which people experience their cultures as well as social interaction. Corporations should promote ethical, and social norms and embrace good community cultures within itself and in the surrounding communities. They are called upon to support various community initiatives such as cultural festivals that welcome and promote diversity. They should also embrace workplace diversity by promoting an inclusive working environment for their employees and respecting their beliefs and customs.
Impacts of Corporate Social Responsibility on a Corporation's Financial Competitiveness.
A corporation is the primary financial beneficiary of corporate social responsibility. First corporations that engage in the custom appeal better by their public image and by their user-friendly products hence motivating more customers to purchase their products. By collecting and using locally available wade materials to produce alternative products, the companies save a lot of money used to buy raw materials and transport them. It is also apparent that as time runs, people and other entities are continuously embracing cheaper and better ways to address their consumer needs. Corporations that embrace change and more so corporate social responsibilities are on the right path to fulfilling consumer needs, hence the corporation's profitability in the long run.
In conclusion, corporate social responsibility practice is categorized into environmental, internal and external responsibilities. Organizations' internal obligations consider some responsible acts related to safety, health and welfare in improving their life quality. The social, physical and environmental responsibilities and obligations have helped in resolving organizational and social problems such as improvement of labor rights, tackling unemployment, combat child labor and helping in reducing environmental pollution.
Zavadszky, A. (2015). Benefiting stakeholders with corporate social responsibility. Retrieved 24 December 2019, from https://www.scmp.com/news/article/2129084/benefiting-stakeholders-corporate-social-responsibility
Werther, W., & Chandler, D. (2011). Strategic corporate social responsibility (p. 36). California: Sage Publication Inc.
Crowther, D., & Aras, G. (2008). Corporate Social Responsibility. David Crowther and
Gular Aras Ventus Publishing Aps. Retrieved from https://www.mdos.si/wp-content/uploads/2018/04/defining-corporate-social-responsibility.pdf
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