Importance Of Balancing Responsibility

782 Words 4 Pages
Balancing Responsibilities In order for a company to be ethical, it also should be sustainable. A company must balance between its social, legal and economic responsibilities. According to both Svensson and & Wood (2006), the company’s performance is measured by the effectiveness of management decision-making and corporate social responsibility (Svensson & Wood, 2006). Companies are acting ethically toward achieving the society’s needs in the present and guarantying a sustainable future for coming generations.
One of the corporate social responsibilities for a company is being sustainable. In order for a company to succeed it must gain the society’s trust. Sustainability might be reached by integrating problems that affect the environment into strategic planning (Svensson & Wood, 2006). Companies that preserve the environment as well as succeeding in all their responsibilities toward the society will grow and make more profit. Being sustainable also includes protecting the
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In a world full of competitive business firms, it is hard for companies to stand out. One of the major concerns of facing corporation now days is Corporate Social Responsibility. A commitment made by the company to behave ethically toward the society, environment, the company’s stakeholders, and customers. Corporate Social Responsibilities affects the company’s public image and long-term relationship with companies and customers.
Since Corporate Social Responsibility is a very important topic, it needs more research and explanation. One of the reasons the topic of Corporate Social Responsibility will need further attention and research in the future, is because of the change in cultural ethics and traditions. Another reason is the new generations’ ideas and the society’s ethical standards. The innovation of technology will also play a role in affecting corporate social responsibilities in the

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