It has lead the concept of Corporate Social Responsibility to become a highlighted feature in the nature of global business today.
There are numerous examples of successful implementations of Corporate Social Responsibility in today's marketplace. Take one for example, the Caremark Corporation which is typically known to Americans as the owners of the CVS chain pharmacy and drug stores. This corporation has expanded rapidly over the past few years and has now become a global powerhouse. Yet, within its store locations, even in nations many corporations might exploit, they sill over excellent employee health packages that are equitable with the ones they offer their American employees in the United States. This seemingly small token shows corporate responsibility for their employees. However, not all seemingly wholesome American companies end up with a pristine image thanks to good practices of Corporate Social Responsibility. Recently, the Wal-Mart corporation fund itself in some pretty hot water when it was discovered to have been exploiting illegal immigrants in the United States to work for well under the federally established minimum wage, and with no health benefits for full time employees. This is a red flag of poor social responsibility on behalf of the Wal-Mart Corporation, who was even tied to the scandal with executive knowledge of such practices. Many believe that this has negatively affected Wal-Mart's image within the consumer's minds, leaving them vulnerable to drops if profit potential. These two corporations show both sides of good and bad social responsibility policies.
Is Corporate Social Responsibility Necessary?
However, even with cases at hand, there are some who would debate against the need for Corporate Social Responsibility as a fundamental part of business policy and practice. Many individuals and corporations have found much to criticize within traditional usage of the CSR within the business model. As it is constructed today, there are possibilities for flaws and flat out exploitation of the image having Corporate Social Responsibility policies within the business model. Many who is against the institution of CSR within business models present the idea that such practices actually distort the function of the utilitarian business model from being purely functional, "For most firms, most of the time, CSR is largely irrelevant to their financial performance," (Vogel 2008:1). This means that unnecessary money and resources are spent on the implementation of policy which has nothing to do with the function of the business. According to such critics, Corporate Social Responsibility is something that should be worked out within a corporation outside the context of the functioning business model. Several others present another argument, the idea that CSR is not sufficiently implemented, but rather a sheer tactic to say that the corporation is taking some initiative towards respecting the multitude of markets. Instead of becoming the revolutionary policy that it should be, many corporations use hints of CSR within their business model to pretend like they are taking real ethical concerns within the various markets they work in. However, failure to truly put that policy into practice shows that they are just milking the idea without putting any weight into it. This shows how corporations are once again trying to exploit not only the region and its people, but also the consumer's weakness for environmental and social protection policies. One final argument is that corporations with good CSR policies and practices have failed to show a true profit increase based on their implementation of ethical Corporate Social Responsibility. According to these critics, "Ethical' goods are a niche market: virtually all goods and services continue to be purchased on the basis of price, convenience and quality," (Vogel 2008:1). Therefore, there is an unfortunate limit of profit increases thanks to a costly implementation of CSR. To some, Corporate Social Responsibility just proves too costly.
However, many argue that CSR is a beneficial element of any business model. Those who believe in its benefits promote the concept that CSR helps corporations benefit in a plethora of different aspects and situations. There are a number of people who support implementation of Corporate Social Responsibility as a way for corporations to help protect and promote better business standard throughout the regions they produce and sell in. Many will state that "A number of companies believe there are benefits associated with acting responsibly and are, in turn, investing in initiatives that reduce their environmental footprint, increase the transparency of their operations, or improve the well-being of their workers and surrounding communities," (Assadourin 2006:1). Corporations understanding their impact in the various regions...
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Corporate Social Responsibility Literature Review a topic-Corporate Social Responsibility The term 'corporate social responsibility' is a social word that has often taken the world by a storm at its mention. Noya and Clarence (2007) in their book "The social economy: building inclusive economies" offers a succinct description and understanding of what normally takes place and get exemplified at the mention of this term in the business world. Many writers of business journals
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