StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Corporate Social Responsibility External and Internal Factors - Essay Example

Cite this document
Summary
A writer of an essay "Corporate Social Responsibility External and Internal Factors" specializes that corporate stakeholder theory (Cornell and Shapiro, 1987 in Zu, L, 2008) suggests that a company must satisfy all the stakeholders, bondholders including those with implicit claims…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.2% of users find it useful
Corporate Social Responsibility External and Internal Factors
Read Text Preview

Extract of sample "Corporate Social Responsibility External and Internal Factors"

Corporate Social Responsibility – External and Internal FactorsZu, L. (2008, p.197) mentions that corporate social responsibility is integration of companies social and environmental concerns in their business operations and in their interaction with their stakeholders on voluntary basis. It is further stated that CSR can result in wide range of stakeholder reactions including political action, purchase decisions and investment decision. Corporate stakeholder theory (Cornell and Shapiro, 1987 in Zu, L, 2008) suggests that a company must satisfy all the stakeholders, bondholders including those with implicit claims.

Tekin Akgeyik (2005) presents classical theory with primary objective to secure its shareholders financial goals and to respond to their wishes relative to the corporation; social demandingness theory which intends to promote and protect the general public’s interests; social activist theory which determines the corporate responsibility independent from stakeholders interest and stakeholder theory which shows companies as corporate citizens and should manage its role in society as producer, employer, marketer, customer, and citizen in a responsible manner.

Galbreath, J (2006) mentions that firms have three responsibilities to society: economic, social and environmental. The internal factors that motivate the social responsibility within the companies include managers, employees, shareholders, customers and suppliers. The internal factors are more focused on maximizing profits on shareholder returns, giving something back to the society in form on philanthropy which arises from firm surplus profit and firms proactively involve themselves in dialogue with their stakeholders and integrate their findings into decision making.

The external factors influencing the social responsibility include culture, government regulations, Non government organizations and global standards. The external factors require the company to operate within the context of national and even regional cultures of the nation, oblige to the legal framework necessary in an economy as a response to inefficient and inequitable behavior and global standards. The companies’ social responsibility towards society; environmentally includes reduction of waste output, reduction of energy consumption, sustainable measures to protecting environment.

Whereas socially, company need to focus on promoting diversity, choosing suppliers on non economic criteria, reintegration support and alliance with NGOs (Poussing, N. 2009) in order to provide services to the community which are not available from the state, like education, health, welfare, etc. The various types of CSR like economic, legal, ethical and philanthropy responsibilities are important as they provide scope for the company management and society at large. It allows the companies to not only achieve its economic objective in compliance with the legal obligations but also suggests ethical considerations towards society and other altruistic, humanitarian and voluntary association towards the society.

(Shahin, A. and Zairi, M, 2007)References1. Galbreath, J. (2006) Corporate social responsibility strategy: strategic options, global considerations, Corporate Governance, VOL. 6 NO. 2, pp. 175-187, Emerald Group Publishing Limited2. Poussing, N., (2009) Factors influencing uptake of corporate social responsibility, Les déterminants de l’adoption de la Responsabilité Sociale des Entreprises [Factors in the adoption of corporate social responsibility], Économie et Entreprises, No. 12, CEPS/INSTEAD.

http://www.eurofound.europa.eu/ewco/2009/05/LU0905019I.htm 3. Shahin A and Zairi, M (2007) Corporate governance as a critical element for driving excellence in corporate social responsibility, Corporate Governance, International Journal of Quality & Reliability Management Vol. 24 No. 7, , pp. 753-770, Emerald Group Publishing Limited4. Tekin Akgeyik (2005) The human resource management dimensions of corporate social responsibility in Turkey: a survey, Journal of the Academy of Business and Economics, Business Services Industry, http://findarticles.com5. Zu, L (2008) Corporate Social Responsibility, Corporate Restructuring and Firm's Performance: Empirical Evidence from Chinese Enterprises, Springer.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Corporate Social Responsibility External and Internal Factors Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1515423-corporate-social-responsibility-external-and-internal-factors
(Corporate Social Responsibility External and Internal Factors Essay)
https://studentshare.org/miscellaneous/1515423-corporate-social-responsibility-external-and-internal-factors.
“Corporate Social Responsibility External and Internal Factors Essay”, n.d. https://studentshare.org/miscellaneous/1515423-corporate-social-responsibility-external-and-internal-factors.
  • Cited: 0 times

CHECK THESE SAMPLES OF Corporate Social Responsibility External and Internal Factors

External Environment and Social Responsibilities

The paper "External Environment and Social Responsibilities" states that businesses are not only governed by the internal operations and internal environment which includes management and employees but in order to be successful it is binding upon them to be cautious of the external environment as well.... This obligation of organization management to make a decision and take actions in conformity with the normal social values and practices of the country, which enhances the welfare and interest of the society, is known as the social responsibility of the business and it cannot survive if it chooses to ignore this factor....
7 Pages (1750 words) Essay

Strategic Thinking and Corporate Social Responsibility

According to the Centre for Applied Research strategic thinking includes exploring the following: corporate social responsibility (CSR) requires adding a key element to Strategic Thinking.... These positive relationships can take the form of relationships with universities, ethical research, product safety, recycling, education and job training, safe working conditions, etc(HBR, 2006) An example of corporate social responsibility is Malden Mills.... CSR requires the business to look at the realm of social responsibility....
5 Pages (1250 words) Term Paper

Business External Environment and Internal Structure

This paper 'Business External Environment and internal Structure" focuses on the fact that business comes with many implications and various models of analysing the position of business come with several factors which are directly concerned with the external environment a business is placed in.... he simplest example of the external forces which can influence the internal structure is the culture of the country where the business operates.... The external environment had affected the internal structure to the extent that operations managers from the home office had to step in and make changes to the present system in order to save the company's base in Western Europe....
6 Pages (1500 words) Essay

Internal and External Factors

On the same note, the management coordinates internal and external relationships… Effectiveness and efficiency of an organization are critical to the success of any given enterprise.... The primary duties and responsibilities of the management are to ensure that both short-term and long-term goals are realized....
4 Pages (1000 words) Essay

Evolution of corporate social responsibility into a strategic tool

In the modern society, companies, businesses, and organizations are aiming at creating a value to both external and internal stakeholders so as to create value in the society.... In the recent past, the public relations specialists carried out a key role in communicating on behalf of the company to the external and internal stakeholders and the media.... The essay critically discusses the extent to which corporate social responsibility has evolved beyond public relations into a strategic tool....
8 Pages (2000 words) Essay

Relationship between Foreign Direct Investment and Corporate Social Responsibility

The purpose of this report is to determine the relationship between foreign direct investment and corporate social responsibility.... It seeks to establish how corporate social responsibility practices of a company change when the company goes international.... Understanding these legitimacy pressures for foreign direct investment requires a link between corporate social responsibility and foreign direct investment.... The relationship is influenced by several factors....
13 Pages (3250 words) Essay

Corporate Social Responsibility of Microsoft Corporation

corporate social responsibility of Microsoft Corporation corporate social responsibility indicates the concept whereby the business organizations, along with their business activities, aims to address the social and environmental issues through interacting with stakeholders at various levels and integrating business process with socio-environmental orientation.... In this report, the inclination of the world famous technology company, Microsoft Corporation towards their corporate social responsibility will be investigates....
13 Pages (3250 words) Essay

The Dimensions of Social Responsibility and the Consequences for Corporate Financial Performance

hellip; corporate social responsibility has received little attention in the popular and academic press during the last decade.... This study attempts to specify the underlying dimensions of a multiple measure of corporate social responsibility and investigate the relationship between corporate social performance and multiple measures of financial performance.... "The Dimensions of social responsibility and the Consequences for Corporate Financial Performance" focuses on renewing and dentifying the dimensions and consequences of corporate social responsibilities....
20 Pages (5000 words) Thesis
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us