Corporate Social Responsibility and Its Aspects

Corporate Social Responsibility and Its Aspects Introduction This essay will discuss what Corporate Social Responsibility is and three ways in which a corporation may practice the aspects of Corporate Social Responsibility.Advertising We will write a custom essay sample on Corporate Social Responsibility and Its Aspects specifically for you for only $16.05 $11/page Learn More Definition of Corporate Social Responsibility Corporate Social Responsibility refers to the involvement of corporate bodies in social aspects of the consumers in order to attract and retain them. According to this practice, the corporations are like public citizens and they are responsible for the environment. The environment in this case is the people and the general topography surrounding the business. This responsibility may not be of economic benefit to the company but enhances the image and perception, which the public have about the company. This social responsibility has increasingly become popular in the twenty first century and many organizations are looking for ways in which they may affect their practice in the society (Habisch, 2005). Aspects of CSR in Tesco The company of choice in this case is Tesco Group of companies with one of the largest chain stores as well as grocery in the United Kingdom. This is a multinational company with branches in many countries in order to ensure that there is ready market for the products required by the customers. This company can practice the concepts of Corporate Social Responsibility in several aspects such as philanthropy. Philanthropy is an act of charity where the company assists the needy members of the society through donations. Donations may be in form of food, clothing’s, or money. As a company that serves large number of poor people this may be one of the best ways of ensuring there is progress in the society (Habisch, 2005). The other aspect in which the company is involved in Corporate Social Responsibility is the environmental aspect. With the current degradation of environment all over the world, the responsibility of conserving resources and reducing waste is one of the best ways of practicing Corporate Social Responsibility. This involves donating funds to organizations that work towards conservation of environment. The company will also look for ways to get rid of waste to have a clean environment. The store like most of the chain stores packs the products in plastic materials for the consumers.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The company will adopt policies of biodegradable materials in packaging to reduce plastic waste that may be hazardous. The company will also set up a recycling machine for waste plastic materials into new ones rather than making new plastic materials (Fomburun, 2000). The company in acknowledgement of the need to ensure that there is an equitable society and that young people w ho finish school do not abuse drug and engage in crime due to lack of employment, it will start a project to train young people on electronics and technical skills. This project will employ more than one thousand young people and after the completion of the course, they can choose to work in the company or other chain stores. This will play a great role in reduction of unemployment and lead to economic growth (Griffin, 1997). As part of Corporate Social Responsibility, the company employees will be having a corporate Social day. During this day, the business will close and all the employees go out and clean the streets, remove garbage and assist the needy in the community. This is important for the organization to create a good image and ensure that they benefit the community (Habisch, 2005). Assisting the disabled is Social corporate responsibility that the organization will be involved. This is because at times, the community neglects the disabled, which creates a society of peopl e who are discriminated. Tesco group of companies will assist the disabled wherever they are in the United Kingdom through donations or the employment programs. Finally, as part of Social corporate responsibility, the company will pay its employees the highest possible salaries to ensure that they are motivated to continue working and reduce turnover of employees. Although this is an economic aspect of the company, it is also important part of Social corporate responsibility. This is because it may be impossible for employees of the company to go out and help poor people if they are not financially stable (Griffin, 1997).Advertising We will write a custom essay sample on Corporate Social Responsibility and Its Aspects specifically for you for only $16.05 $11/page Learn More The successes of these programs involve proper mechanisms to take care of the corporate social responsibilities of the organization. This will provide the company with accountability mec hanisms and ways of ensuring that funds allocated to Social Corporate responsibility are not embezzled. Conclusion Social corporate responsibility is an important aspect of the modern day business because it shows that it is not all about making profit alone. Organizations need to have a mechanism that endears them to the community, which they serve. Organizations that neglect these aspects become irrelevant (Fombrun, 2000). Critiques of Corporate Social Responsibility argue that it is of no benefit to the organization but that is not the truth. The positive sentiment, which the company stimulates from the stakeholders, endears it to the public and maintains the profitability of the organization in the end. References Fombrun, C. (2000). The value to be found in corporate reputation. Financial Times, December 4, 2000. Griffin, J. (1997). The corporate social performance and corporate financial performance debate. Business and Society, (36), 5-31. Habisch, A. (2005). Corporate social responsibility across Europe. London: Springer Press.