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HC3031 TRENDS IN THE GLOBAL BUSINESS ENVIRONMENT
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TOPIC SELECTED— DISCUSS THE ROLE OF ‘CORPORATE SOCIAL RESPONSIBILITY’ (CSR) IN TODAY’S WORLD. GIVE PRACTICAL EXAMPLES FOR YOUR ARGUMENTS.
Table of Contents
Executive Summary    3
Introduction    4
Corporate Social Responsibility and its History    4
Corporate Social Responsibility in Reality    4
How Greenwashing Works    5
Is There Hope for Corporate Social Responsibility?    5
Conclusion    6
Bibliography    7
Executive Summary
In this report, we are going to do a thorough research on what Corporate Social Responsibility or CSR is and how it works for companies. Therefore, Corporate Social Responsibility or CSR is a mechanism, which helps a company to establish that the products manufactured by the company are sustainable and eco-friendly. It does not matter if the claims are true or false. Most companies do that in order to produce products that are not sustainable, since they are fancier and cheaper, while claiming that they are, since sustainability increases the sale because people now a days are more and more obsessed with the environment. They get certificates from independent organizations that lack authenticity and apply many other techniques to greenwash their products thereby gaining a lot of profit by false methods. Of course, not all companies do that and they follow a strict policy of corporate social responsibility, but many do.
Introduction
Corporate Social Responsibility or CSR is an operation method or a procedure by which a company holds itself to “a set of legal, ethical, social and ecological standards”. It makes itself answerable to the stakeholder, the customers as well as itself. It is a set of policies, which are undertaken by the company itself. In this era of globalization, the companies are becoming interdependent with each passing day, hence making it difficult for one particular law to supervise the issues that has been undergoing. Corporate Social Responsibility should and must be viewed as an indispensable part of a company’s reputation. Unfortunately, this is not the actual scenario (Jones, 2020).
Corporate Social Responsibility and its History
Howard Bowen, in the 1950s, coined the term Corporate Social Responsibility. He is also widely regarded as the father of modern Corporate Social Responsibility. He is an economist by profession and he writes, “CSR refers to the obligations of businessmen to pursue those policies… which are desirable in terms of the objectives and values of our society.” He has prepared the backbone of modern Corporate Social Responsibility upon which the companies, in the present days, rely. Studies show that almost 80% of the largest and the biggest companies in the world use Corporate Social Responsibility in order to establish their company as a sustainable one, thereby proving their concern...