Write a 3-page paper on the impact of Corporate Social Responsibility on Society. Use at least 2 articles as a reference. APA style. Provide a key concept, analysis, and your conclusion.
Corporate Social Responsibility
Given the contemporary competition in the modern business environment, organizations need to take a political stand to be in a position to beat off competition from their rivals and get a significant market share. In the modern business, customers prefer high-quality products and services from accountable and responsible companies when they are making their purchases. According to current studies, consumers are giving first opportunities to companies and organizations that participate in corporate social responsibilities and often hold them accountable for designing and implementing social changes with their organizational beliefs, practices, and profits (Koutra, 2013). Irrespective of the fact that the success of social responsibility continues to be based on tangible, operational elements currently businesses are required to share more intangible values of the consumers. Scholars have identified Corporate Social Responsibility (CSR) as the initiatives of business to assess and be accountable for the organization’s impact on the environment and social well-being of the people in where they operate. This assignment will attempt to establish and describe the benefits of CSR to the society.
With its current and latent expertise, CSR is seen as a useful lever to assist businesses and organizations to scale their efforts in nation building. Apart from providing a wide range of advantages to the businesses, corporate social responsibility should offer both tangible and intangible benefits to the consumers and society in general.
One of the notable benefits of CSR to the society is the creation of ambiance in the nation. Research has indicated that the involvement of the business in the local community’s problem and challenges, develops better living standards and healthy lives of the members of the society. The beneficiaries of CSR in the society tend to have a happier as well as a comfortable and better living standard compared to those who have little or no opportunity to benefit from CSR (Ravi & Lipschutz, 2010). Through building schools, hospitals, or even providing fresh water for the members of the society, organizations tend to create an avenue through which the society can access high-quality services that enhance the health of their lives. Besides, the presence of business and organizations in almost all community development programs creates a safer environment for children to grow apart from substantially decreasing, if not, eradicating corruption with the society (Ravi & Lipschutz, 2010). The generous nature of the companies creates benefits for the least disadvantages in the society by assisting the poor and increasing trust in the society.
Another significant benefit of CSR in the society is the production of high-quality products and services that provide experience and satisfaction to the community at large. Studies show that not only businesses and companies benefit from the increased quality of their products and services with the increased market share in the current business environment, but also the improved quality of commercial commodities helps the community at large. The commitment of organizations and businesses to abide by the CSR rules and regulations provides an opportunity for firms to identify and eliminate any defects that may exist during the production process, which in turn results in diminishing complaints of defect products while at the same time increasing consumer satisfaction and experience (Hopkins, 2012). Besides, efficient and effective CRS initiatives may reduce the cost of production of a company which in turn reduces the overall price of goods and services of the company, thus benefiting the community at large. Reducing the cost of production offers an opportunity for the organization to produce more goods or even produce a variety of commercial commodities, thus providing alternatives to the consumers.
According to studies, the responsible behavior of organizations and executives of these organizations can inspire the members of the society to follow their example. In most cases, organizations, and leaders often act as role models in the society which means that the members of the community tend to emulate their personality and character. Therefore, if these organizations work responsibly to help the least advantaged in the society, there is a high likelihood that the community, in general, will follow suit and help the company to help others. Besides, the success of a company which is closely associated with its CSR activities is also a success for the society since the benefits are likely to trickle down to the community (Carroll, 2015). A successful company is expected to hire more employees in better conditions, such as fair wages and can provide significant perks. Such a move helps to reduce the rate of unemployment in the society.
From the above-detailed discussions, it is correct to conclude that corporate social responsibilities of a company not only improves the accountability of the organization but also benefits the society in general. However, the benefits of CSR initiatives to the nation must go hand in hand with those of the company to have a significant impact on the overall business environment. Some of the notable benefits to the society include the provision of high-quality products and services, inspiring people to participate in activities that benefit the community in general as well as creating ambiance in the culture.
Carroll, A. B. (2015). Corporate social responsibility. Organizational Dynamics, 44(2), 87-96. doi:10.1016/j.orgdyn.2015.02.002
Hopkins, M. (2012). The Planetary Bargain: Corporate Social Responsibility Matters. Hoboken: Taylor and Francis.
Koutra, C. (2013). More than simply corporate social responsibility : implications of Corporate Social Responsibility for tourism development and poverty reduced in less developed countries: A political economy perspective. Hauppauge, NY: Nova Science Publisher’s, Inc.
Ravi, R. K., & Lipschutz, R. D. (2010). Corporate social responsibility: Comparative critiques. Basingstoke [England: Palgrave Macmillan.