Corporate social responsibility: concepts and implementation

Corporate Social Responsibility

Trends of 2011

With so many businesses running the world today, and especially in light of those who do not necessarily have the consumer's best interest at heart, there must be something holding it all to a certain standard, namely, something assuring that the customer and the employees are served well by the company. Corporate Social Responsibility (CSR) is that thing. CSR is defined by Mallen Baker (2011) as "the continuing commitment by business[es] to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families, as well as of the local community and society at large."

In order to best assess, however, how CSR truly contributes towards benefitting society one must analyze the trends in this subject, which is exactly what the following paragraphs will do. For instance, according to an article written by Timothy Merrick (2011), entitled Four CSR Trends to Watch in 2011, there are some major topics to look for during this year:

1. The first topic Merrick (2011) mentions is the fact that CSR should be a "company-wide policy [that can] be managed daily [by all], not just by a [single] department." This means that the evolution of CSR ought to develop from being handled within one department towards building a bigger CSR model for infrastructure operations for a whole business and its smooth functioning, as well as its caring for its employees and the consumer at-large. Merrick (2011) further states that such a strategy "creates more opportunities and far greater gains in terms of employee engagement," and points to the fact that the consumers and the employees of the company will be glad to have seen a company looking to improve itself, or 'walk the talk,' and "combine shareholder satisfaction with social responsibility." Merrick (2011) calls this trend one of the most encouraging in recent years.

2. A second point Merrick (2011) makes is a stress upon the fact that CSR should also aim to create more transparent policies for a company, and combine these with more visual policies as well, for both consumers and for service users.

3. Thirdly, according to Merrick (2011), "supply chains [should] be expected to perform to the same standards of CSR as the companies themselves," stressing that entities that are related to the company ought to be held at the same standards, which is a very important emerging trend.

4. Lastly, Merrick (2011) suggests that it is important to note that another trend will be focused towards reporting and contrasting in order to make the two available for the public and thus make the public feel that a significant change will be taking place, especially with regards to policies involving the environment and energy.

Though Merrick's (2011) suggestions are helpful, McClimon (2011), in his article, argues for some additional trends to watch. In Five Trends to Watch in Corporate Social Responsibility, the author argues for the following:

1. Responsibility "as a company value;"

2. The necessity for growing integration "between corporate philanthropy, volunteerism, and sustainability;"

3. A growing "recognition that CSR can build skills in the workforce;"

4. Better CSR related communications and better communications about CSR; and,