Organizational Responsibility to the Community and Socially

Organizational Responsibility to the Community and Socially Responsible Strategies

According to the work of the Kenexa Research Institute, "participation in corporate social responsibility (CSR) activities provides more benefits to an organization than just giving back to the community and doing the right thing. The latest research suggests that an organization's active participation in corporate social responsibility efforts has a significant influence on employees' engagement levels and views of senior management." (p.1) The six surveyed countries indicated in the findings that "working for an organization where employees positively view CSR efforts has a significant, favorable impact on how they rate their pride in the organization, willingness to recommend it as a place to work and overall satisfaction. Furthermore, those employees with favorable opinions of their organizations' CSR activities are more likely to say they intend to stay relative to those who have unfavorable opinions of their organizations' CSR efforts." (Kenexa Research Institute, nd, p.1)

I. Corporate Social Responsibility

Corporate social responsibility means the following:

An obligation, beyond that required by the law and economics, for a firm to pursue long-term goals that are good for society

The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as that of the local community and society at large

About how a company manages its business process to produce an overall positive impact on society. (Tutor4You. 2012, p.1)

Corporate social responsibility means the following:

Conducting business in an ethical way and in the interests of the wider community

Responding positively to emerging societal priorities and expectations

A willingness to act ahead of regulatory confrontation

Balancing shareholder interests against the interests of the wider community

Being a good citizen in the community. (Tutor4You, 2012, p.1)

There are reported to be four dimensions of Corporate Social Responsibility including the following:

Economic - responsibility to earn profit for owners

Legal - responsibility to comply with the law (society's codification of right and wrong)

Ethical - not acting just for profit but doing what is right, just and fair

Voluntary and philanthropic - promoting human welfare and goodwill

Being a good corporate citizen contributing to the community and the quality of life. (Tutor4You, 2012, p.1)

Arguments that support socially responsible behavior are reported to include the following:

It is the ethical thing to do

It improves the firm' public image

It is necessary in order to avoid excessive regulation

Socially responsible actions can be profitable