In the recent years, there is a rising concern regarding social responsibility in the business world. It is merely impossible to read through articles, newspaper or business reviews without encountering discussions of the issue. Today, companies not just compete on prices, quality and competitive advantages, they must also imitate on the legal, ethical, moral and social consequences of their decision (Harris, 2001). In order for businesses to prosper within the competitive environment, organisations have to adopt Corporate Social Responsibility (CSR) to its business strategies as it plays a significant role on the growth and profitability (Keinert, 2008). Therefore this raises the question. “What is CSR and how does it affect organisational performance”. To understand this phenomenon, this essay will start by defining what CSR means and discuss the business case for and against CSR policy.
Corporate Social Responsibility (CSR) could be described as business efforts that helps in achieving a sustainable outcome by performing good business practices (Schermerhorn, Davidson Poole, Woods, Simon & McBarron, 2014). Due to the increase …show more content…
Wal-Mart aims to be 100% supplied by renewable energy and reduces their carbon emission to sustain people and the environment (Wal-Mart, 2015). Being energy efficient allows Wal-Mart to reduce their operational cost by million of dollars a year. Moreover, Wal-Mart has places a strong emphasis on their recycling programs, which has generated over $140 million dollars over the past five years (Wal-Mart Global Responsibility Report, 2015). Hence, explains that high level of social responsibility improve firm’s financial performance. Furthermore, Wal-Mart has significantly reduce transportation cost by including fleet efficiency program to their business global sustainable business plan (Wal-Mart,
Corporate Social Responsibility (CSR) could be described as business efforts that helps in achieving a sustainable outcome by performing good business practices (Schermerhorn, Davidson Poole, Woods, Simon & McBarron, 2014). Due to the increase …show more content…
Wal-Mart aims to be 100% supplied by renewable energy and reduces their carbon emission to sustain people and the environment (Wal-Mart, 2015). Being energy efficient allows Wal-Mart to reduce their operational cost by million of dollars a year. Moreover, Wal-Mart has places a strong emphasis on their recycling programs, which has generated over $140 million dollars over the past five years (Wal-Mart Global Responsibility Report, 2015). Hence, explains that high level of social responsibility improve firm’s financial performance. Furthermore, Wal-Mart has significantly reduce transportation cost by including fleet efficiency program to their business global sustainable business plan (Wal-Mart,