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Corporate Social Responsibility Essay

1. Introduction There are a number of definitions of corporate social responsibility (CSR) available that typically focus on different factors that should be included in these initiatives (Verschoor, 2009). A concise definition provided by The Financial Times states that CSR is “is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders” (Definition of corporate social responsibility, 2017, para. 1). This definition is congruent with the consumers’ perspective of CSR as well, with the most important factors including: (a) corporations need to be committed to their employees; (b) corporations need to be committed to the public and communities and overall society; (c) corporations have a responsibility to provide quality products; and (d) corporations have a responsibility to the environment (Verschoor, 2009). The respective internal and external drivers and obstacles of CSR are discussed below followed by a discussion of the role of CSR communication in achieving organizational goals.

2. Drivers and Obstacles of CSR

Internal Organizational Drivers and Obstacles:

One of the overarching obstacles to successful CSR initiatives is the mindset of some corporate leaders concerning the utility of these efforts. Until fairly recently, many corporate leaders viewed CSR initiatives as so much greenwashing intended only to minimally...

Increasingly, however, many corporate leaders are recognizing that CSR initiatives that are aligned with organizational goals can provide significant returns on these investments. For instance, Ballou, Casey, Grenier and Heitgerp (2012) emphasize that, “If organizations think about sustainability initiatives in the same manner as their core business decisions, such initiatives cannot only be a source of competitive advantage and long-term value for shareholders, but also be highly valued by an organization’s multiple stakeholders” (p. 268). Beyond these intangibles, though, other drivers of CSR initiatives include their ability to directly contribute to a corporation’s profitability (Carrasco & Buendía-Martínez, 2016). To facilitate the process, some corporations have created CSR teams to identify opportunities and implement appropriate initiatives; others, however, have implemented CSR strategies organization-wide in less obvious but still significant ways. For example, Brooks (2010) reports that, “Some [corporations] have set up a substantial CSR team while others have embraced CSR in a more subtle and pervasive way. The latter have changed their values as a result and require all activities to reflect these new values” (p. 12).
External Organizational Drivers and Obstacles:

As growing numbers of companies…

Sources used in this document:

References

Ballou, B., Casey, R. J., Grenier, J. H. & Heitger, D. L. (2012). Exploring the strategic integration of sustainability initiatives: Opportunities for accounting research. Accounting Horizons, 26(2), 265-288.

Brooks, M. (2010, June). Incorporated social responsibility: Authentic CSR is an attitude that pervades every business decision. Financial Management, 12.

Carrasco, I. & Buendia-Martinez, I. (2016, January 1). From the business strategy result to a source of economic development: The dual role of CSR. Journal of Small Business Strategy, 26(1), 69-73.

Definition of corporate social responsibility. (2017). The Financial Times. Retrieved from http://lexicon.ft.com/Term?term=corporate-social-responsibility--(CSR).

Frecea, G. L. (2016, June 1). CSR integration into the financial economy: A conceptual approach. European Journal of Interdisciplinary Studies, 8(1), 35-39.

Kesavan, R. & Bernacchi, M. D. (2013, January 1). Word of mouse: CSR communication and the social media. International Management Review, 9(1), 58-62.

Verschoor, C. C. (2009, August). Consumers consider the importance of corporate social responsibility. Strategic Finance, 20-24.


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