Running Head: CORPORATE SOCIAL RESPONSIBILITY    1
CORPORATE SOCIAL RESPONSIBILITY         6
CORPORATE SOCIAL RESPONSIBILITY
Define Corporate social Responsibility?
Corporate Social Responsibility is defined as the actions that an organisation undertakes to ensure social benefits. Every organisation undertakes certain activities that do not usher any profitable grounds for the company. These activities are merely carried out to meet the social dysfunctions in the economy. The organisation undertakes the responsibility of removing social disparity through the activities of corporate social responsibility. The activities undertaken as a role of corporate social responsibility are aimed to gain reputation and social fame, beyond the monetary benefits of the stakeholders and the shareholders. These activities are critical for the organisation to mitigate the negative impacts of corporate life in the social and cultural existence.
The shareholders and stakeholders play an important role in maintaining the activities within corporate social responsibility. The role of the stakeholders includes the keenness and the interests in serving the state. The activities of CSR can only be performed if the shareholders have an aim beyond the profitable grounds. Corporate social responsibility is not only limited to social or cultural activities. Certain organisations need to perform legal and environmental actions well. According to Ferrell (2019) Different countries have different legal and structural bindings. Making business does not imply the negation of all rules and regulation. The maintenance of these structural rules and regulations are often termed as corporate social responsibility. In other words, the liability of an organisation towards society is termed as corporate social responsibility.
The definition of corporate social responsibility states that every organisation is performing their activities in an extremely competitive market. Therefore, these companies need to sustain their growth strategy. Growth strategy can be maintained only when the organisation comply with the legal, federal and state obligations of a particular market. Corporate social responsibility is excessive in the case of a big organisation. Large multinational companies infer a huge impact on the societal structure. Therefore, the responsibility also becomes extremely high. These companies need to pay taxes and other non-profitable contributions to society to sustain the market. Often CSR is also used as a competitive edge in the market. Moreover, CSR is also defined as the profitable contributions done by the organisations towards the employees. For example, Nike faced absolute consumer boycott, in the early 90s, because of abusive labour practises. The additional beneficiary factors provided to the employees is also termed as corporate social responsibility.
Name two other terms that may be used for socially aware corporate behaviour.
As mentioned earlier, every organisation must be socially aware of their behaviour. However, socially aware corporate behaviour has other...