Impact Of Csr Into A Business Model - 3160 Words

Executive Summary The welfare of the community as well as the employees within a company is what Corporate Social Responsibility (CSR) focuses on. It plays a huge role within the society. In this report, we touch on all the various aspects CSR starting with its history(its origin in the fifties), focusing on Bowen, Davis and Carroll’s evolving concepts as it developed over the decades to the current global implication. The briefing on the assumptions of CSR deals with the common beliefs in business practices and our opinions on how corporations’ would react to these assumptions. By analyzing its pros and cons, we discuss the impact of incorporating CSR into a business model. Furthermore, we focus on the theories of CSR, which include†¦show more content†¦Earlier perceptions of corporate social responsibility depicted that it was a philanthropic trend where an organization decided to give back to the immediate community. The notion just gave a rough idea to the society with the objective of showing willingness of the company to express concern over the society (Cadbury, 2006). However, that notion got supplanted by the current concept. That is; businesses have the responsibility and commitment to protecting, as well as, improve the life of its workers and the communities. Accordingly, the (CSR) phenomenon demands that a company should show ample commitment in developing policies affiliated with integrations or social practices. The social practices relate to daily business operations, and the reporting mechanisms related to these activities (Cadbury, 2006). Corporate reports now consider the paramount elements of a business’s operations. For instance, it discusses the governance and ethics of the business. The major of (CSR) is establishing social, environmental and economic sustainability. Initially, (CSR) is a requirement. However, some firms extend the jurisprudence towards engagement in social activities that are going beyond the interest of the firm (Cadbury, 2006). However, the entirety of this phenomenon gets its basis on embracing responsibility for corporate actions. In addition, it issues a general affirmative impact of its external environment