Corporate Social Responsibility And Corporate Responsibility Essay
According to Mc Williams and Siegel, corporate social responsibility is the actions that appear to further some social good, beyond the interests of the firm and that which is required by law. Corporate Social Responsibility means going beyond obeying the law. However Waddock defines Corporate Social Responsibility as the ‘broad array of strategies and operating practices that a company develops in its effort to deal with and create relationships with its numerous stakeholders and the natural environment’ (Corporate Responsibility Governance, 2012).!
Tom Cannon Corporate Responsibility Governance,compliance and ethics in sustainable environment (2nd edition 2012), 24-25!
Corporate Social Responsibility is vital because it influences all aspects of a company’s operation. Consumers want to buy products from companies they trust and suppliers want to form business partnerships with companies they can rely on. Employees want to work for companies they respect; large investment funds want to support firms that…