Csr in Business Essay
As the theoretical framework of CSR evolves, there is increasing focus on the interaction between internal capabilities and business activities with the external environment. Aras and Crowther (2007) integrated key attributes of sustainable activities, namely Societal influence, Environmental impact, Organisational culture and Finance, in conjunction with internal-external and short-term long-term context to develop the sustainable development guiding framework for corporations, i.e. Model of Sustainable Development. Visser (2010) proposed the concept of CSR 2.0, highlighting five dimensions (C)reativity, (S)calability, (R)esponsiveness, (2) glo-cality and 0) or circularity as the five targets for future CSR activities. …show more content…
Developing Visser’s argument, Aras and Crowther (2007) have identified four key principles of sustainability, including: * Societal influence: measure of the impact that society makes upon the corporation in terms of the social contract and stakeholder influence * Environmental impact: effect of the actions of the corporation upon its geophysical environment * Organisational culture: relationship between the corporation and its internal stakeholders, particularly employees, and all aspects of that relationship * Finance: adequate return for the level of risk undertaken
Those four aspects should be kept in an equilibrium which can be achieved by reviewing the four activities in consideration of the internal-external and short-term long-term focus context.
Aras and Crowther (2009) suggested that four key operating objectives that company should achieve to be gain sustainability are: maintaining economic activity (as this provides companies with necessary capital to carry on business); conserving the environment (as this is vital to the livelihood of future generations); ensuring social justice (which improves the livelihood of current generation by eliminating poverty and maintaining human