Corporate Responsibility And Corporate Social Responsibility Essay examples

717 Words Aug 10th, 2016 3 Pages
Corporate responsibility is a term that is supplanting the term corporate social responsibility. The ‘social’ is increasingly being omitted in order to emphasize the (claimed) broader responsibilities of business corporations, particularly their responsibilities with regard to the environment.
Corporate Social Responsibility has helped several companies to develop and work upon several new core competencies, which enables the corporate to build a special relation with its customers, society, its shareholders and government by the sustainability acts done by them. The corporate social responsibility activities help in building a positive image of the company, it also helps in building goodwill which in long run helps in generating profits. The CSR activities of the firm encourage its employees to participate in several social responsibilities it helps in building up loyalty. It also helps in building up a dedicated workforce and the employees become committed towards to organization.
With the increasing need and demand of the society, customers. The corporate works on a momentum "triple bottom line" or "sustainable" approach. These are social, environmental, and financial data which is used for evaluating the performance of the company. The companies are expected to perform well not only in terms of finance but also in the terms of areas which are not included in the part of the financial aspect i.e. ethics, human rights, environmental policies, corporate governance,…

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