Implications Of Corporate Social Responsibility

1461 Words 6 Pages
In the course Business Environments, much focus was put onto law and ethics within business environments as well as the main question of, does social responsibility matter? After the many discussions and explanations of corporate social responsibility, I have come to understand that many businesses rely on being socially responsible to retain business growth and sustainability within their corporations. Often in this modern society, it is difficult to continue being socially responsible but it is pivotal for many corporations to continue their efforts. In the case of the BP Deepwater Horizon oil spill, many wish that BP had taken the advice of other socially responsible corporations, then maybe the gulf oil spill of 2010 would not have occurred. …show more content…
It is often possible to satisfy the ethical question, the moral one, and satisfy the consumer; not always but with effort is can often be possible. A manager must consider if making the company more socially responsible is right and in what way. “When corporations make a serious commitment and infuse substantial funding in a socially responsible strategy, then along with the increased risk, comes a bigger potential for payoff (New Strategies for Corporate Social Responsibility, 2015).” This brings the question of will the company choose to reduce emissions or water usage or will the company chose to offer scholarships to local students. The manager must look “beyond fitting into the business model, the most successful corporate social responsibility efforts coincidentally also serve the company 's self-interest (New Strategies for Corporate Social Responsibility, 2015).” Either way the manager must review how it will affect their area of the business and the business overall. Will this action improve the brand image of the company? Will it gain the business more positive publicity that may bring more business? When it comes to social responsibility the answers to these questions are often yes. Especially if the business is being socially responsible within the scope of their business, for example Liberty Tax could offer a class to underprivileged youth teaching them how to do taxes. Those that do well Liberty will pay for some of their accounting degree in turn they work at Liberty for a set amount of years. Liberty is exemplifying social responsibility but also satisfy their need for future accountants that are loyal and know the business thoroughly. It is imperative that a company small or large knows their business inside and out and that the manager is able to do whatever is in the best interest of the company. A rule of thumb is that ethical managers must often make

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