Successful Development And Corporate Social Responsibility Essay

1280 Words Nov 23rd, 2016 6 Pages
Successful Development and Corporate Social Responsibility

Corporate Social Responsibility as defined by Abel Monfort and Nuria Villagra contains four main objectives. First, contribution to a given society through “ethically correct attitudes.” Second, “bring together the social expectations of the company.” Third, responsible management of company power. And finally, pursuit of long term benefits to the company as well as society. In layman 's terms CSR strives to be aware of the implication that an organization 's business practices has on all of the individuals affected, and not just its shareholders, or those within the confines of the organization. In addition, advocates of CSR suggest that it’s practice results in a win-win situation for all of the organization’s stakeholders; as the appeasement of stakeholders leads to a multiplicity of interrelated benefits to the firm, working in tandem with each other accelerating benefits to all stakeholders. These benefits include increase value creation, improvements in reputation resulting in increased client loyalty, new market opportunities. Carroll and Shabana explore benefits of CSR for firms regarding the avoidance of threatening environmental regulations, subsequently avoiding penalties from members of society, and instead benefiting from tax advantages. Unfortunately, the existence of these stated CSR benefits is a highly contentious topic both conceptually and in regard to the…

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