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Corporate Social Responsibility This is generally a management fundamental concept that focuses on environmental and social concerns in their operation. Companies primarily aim to address these issues in their business model and interact with the associated stakeholders. It contributes to overall societal goals and aims of activist, philanthropic, or ethically oriented practices. Once the definition of Corporate Social Responsibility (CSR) was as an international organizational policy that after the passage of time it has been considered as a corporate self-Regulation and finally over the last decade it has changed from the voluntary decision at the individual organization level to compulsory schemes at regional, national and international phase. The use of CSR facilitates the path by which an organization attains or achieves an environmental, balance of economic and social imperatives also known as Triple-Bottom-Line-Approach. It also addresses and tried to meet the expectations of stakeholders or shareholders (Li, 2018).

Importance of Corporate Social Responsibility Promoting the adoption of CSR among small and medium-sized enterprises requires approaches that suit their respective needs and capabilities and do not adversely affect their economic viability. The TBL approach helps to frame a model that can measure and report the performance against social, environmental, and economic performances. It is an effort to align private businesses with the goal of sustainable global development by giving them a more thorough set of job targets than just profit alone. The aim to build an organization to be sustainable is that it must be financially secure, eliminate the bad impacts on the environment and act in conformity on a societal level. There are various issues related to Corporate Social Responsibility are related to environmental management, responsible sourcing, eco-efficiency, responsible sourcing, engagement of stakeholders and shareholders, gender balancing, good governance, human rights, and social equity. The implementation of CSR can provide immense advantages for example increase sales and profits, operational cost savings. Also, it focuses on enhancing access to investment, capital, and market, will enhance customer loyalty, and provide a better decision-making platform. Moreover, a business that engages in CSR for strategic purposes can directly contribute to the companies or firm profit. These advantages are accomplished by growing positive public relations and high ethical standards by taking responsibility for corporate activities to minimize business and legal risk. These strategies implemented with the use of CSR encourage the organization to lay a positive impact on the environment and associated share and stakeholders that include employees, investors, and communities. Many organizations acquire policies and practices of CSR as it provides ethical beliefs of management. It has been observed by the proponents that the corporation working on the perspective of CSR has shown an increase in long-term profits. Whereas, the concept of Corporate Social Responsibility (CSR) has exponentially increased recently and mainly in the pandemic situation of the coronavirus. CSR is an integral part of the band image of the organization that has adopted it as customers believe to do business with the brand that is ethically working. In this manner, CSR plays an important role in corporate public relations and many company founders have shown their interests in adopting CSR due to personal convictions. Employing CSR had impacted several domains such as organizations took various major steps to order to improve the environmental sustainability related to their operations such as building renewable energy sources and using carbon offsets. CSR aids a company’s overall mission and provides better guidance to the company in order to fulfil its consumer expectations. A robust Corporate Social Responsibility Program is an opportunity for the organizations to analyze their corporate citizenship and protecting the organization from associated outsized risk by taking care of the social and environmental aspects of the organization. Various research has been done, for example, research done by Cone Communication analyzes that more than around sixty percent of Americans think that even without government regulations, businesses can drive social and environmental change. There are various types of corporate responsibility that businesses can practice that includes environmental efforts, philanthropy, ethical labour practices, and volunteering. Regardless of the size of any organization, it has large carbon footprints so the primary focus of the organization is to reduce these carbon footprints that are good for society as well. Also, a business can serve social causes to benefit charities and local community programs as it a social responsibility to donate money, services, or products to non-profits. The company can perform ethical labour practices by treating its employees in a fair manner. This helps the businesses which are working in international locations that have different labour laws. The other way is to participate in local causes such as community events. It shows the company’s sincerity towards the welfare of the society as well and the company can express their support and concern for particular issues and social causes. The program of CSR can be useful in recruitment and retention in today’s competitive student market full of graduates. It also helps in improving the image or perception of an established organization among its working staff particularly related to payroll giving, community volunteering, and fundraising (Jermsittiparsert, et. al., 2019). This Corporate Social Responsibility also impacted employee turnover because employees of any organization are important assets and are responsible for any organization's success. The company should promote fairness among each and every employee as it generates low employee turnover. On the other hand, socially responsible activists believe that if there is irresponsible behaviour is seen among employees then it may be a negative impact on the perception of the employees. So treating the employees of the organization in a fair manner along with good pay and benefits would be considered as socially responsible behaviour results in a reduction of employee turnover. CSR can also use in enhancing a brand’s reputation which results in positive product evaluations. Many companies use CSR as their primary tool and others use CSR methodology as a strategic tactic to get public support in global markets which helps in making a competitive advantage. The CSR activities adopted by organizations drive their customer attention to buy their services and products regardless of their associated price. That, overall results in increased competition among firms as customers are already well versed and aware of CSR policies. This makes the company a potential differentiator as it does not add value to the company along with providing products and services. In addition, companies under severe competition can exploit CSR to maximize the effectiveness of their distribution on the output of the company. The potential differentiators to reduce costs and raise income are lowering the carbon footprint of the distribution network of a business or participating in fair trade. Customers will observe the company's devotion to CSR in this scenario while rising company revenues (Wang and Sarkis, 2017), and financial performance. Journal of Cleaner Production |pages=162}}. The effective program associated with CSR can help increase the attractiveness of the supplier to customer corporations. The adoption of Corporate Social Responsibility also influences stakeholders. According to Branco and Rodrgues, (2007), the stakeholder perspective of CSR is the set of views laid down by groups or constituents related to the firm. On the other side, the stakeholder failed to acknowledge the difficulty of network interactions that possesses in cross-sector partnerships. Also, it has been observed that the popularity of ethical consumerism has increased with the rise of CSR. Consumers are educated and more aware of the social and environmental implications of their daily consumption (Advantage, 2020). There are various national governments that promote practices related to social and environmental responsibility. This major role by the government in CSR has introduced many CSR policies and programs. Such as European governments have to push the organizations to introduce sustainable practices for corporates. Whereas in Germany, they establish the German Trade Union Confederation in 1949 to enhance CSR. There are more than fifteen European Union countries that engaged in CSR regulations and respective public policy development. The policies and efforts by CSR are different in different countries as per the complexity of the particular government and corporate roles. The company's financials and the practice of CSR also have a positive relationship. In addition, a company's success appears to affect conservatives rather than liberals. While not seeing it from the viewpoint of financial performance, liberals appear to hold a view that CSR contributes to the triple bottom line of the company (Mi, et. al., 2018). ConclusionItalic text Corporate Social Responsibility provides a company with an ethical and sustainable way to deal with environmental and social impacts that include the human rights, environment and human rights.