Corporate Social Responsibility Programs Work - 843 Words

Corporate Social Responsibility Programs Work Benjamin Franklin said It takes many good deeds to build a good reputation, and only one bad one to lose it (Good Deeds Quotes. n.d.). Multinational corporations have operations in multiple countries which in turn brings together many cultures. Saying a multinational corporation has no moral or social responsibility to engage in corporate social responsibility (CSR) programs goes against what a company should strive to be. In recent years, firms have undertaken corporate social responsibility programs due to pressure from their stakeholders as well as their shareholders (McWilliams Siegel, 2000). If a company does not believe they have to be morally and socially responsible, that company will not be around long. What is Corporate Social Responsibility? Corporate social responsibility (CSR) has not been around for a long time and it started to gain some movement in the second half of the 20th century (Barnett, n.d.). CSR started out from the 1960’s 1970’s social activism movements concerning preserving the world for future generations. In 1991, Dr. Archie B. Carroll, a business management author and professor, defined corporate responsibility by using a pyramid shaped diagram. The 4 responsibilities of a business, from the bottom of the pyramid to the top, are economical, legal, ethical and philanthropic. The economic level is foundation of the pyramid and deals with maximizing shareholder earnings, stayingShow MoreRelatedVolvo : Corporate Social Responsibility1155 Words   |  5 Pages Volvo in Corporate Social Responsibility. 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This shift has encourag ed many non-profitsRead MoreCorporate Social Responsibility, Sustainability, And Approaches For Managing Culture And Diversity Of Employment Practices Essay1576 Words   |  7 PagesSummary: The following business report will examine some critical concepts which apply to all businesses small or large more specifically to the company of Tata. This report will provide an in depth analysis and evaluation of the areas of corporate social responsibility, sustainability and approaches to managing culture and diversity of employment practices of the company. The methods used to analyse these key areas comprise of the textbook, a wide variety of articles, a quote and a youtube clip. Tata