The Importance of Corporate Social Responsibility

Paper Summary:

This paper takes a look at how corporate social responsibility (CSR) has become a popular method for organizations to bolster their reputations and respond to pertinent social issues. To illustrate, it focuses particularly on the organizations of Starbucks and Ben & Jerry's. The paper claims that, although CSR programs are important to the organization, the costs of these programs are so extensive that achieving a competitive advantage through CSR can be a notable challenge. In an effort to elucidate these challenges, the paper considers whether or not organizations can derive a competitive advantage through corporate social responsibility programs. The results of the investigation suggest that CSR can lead to a competitive advantage, but only through integration of CSR with all aspects of the organization's operations. The paper concludes with recommendations for organizations to develop and implement CSR programs.

Table of Contents:
Introduction
Literature Review
Corporate Social Responsibility: An Overview
Business Ethics: An Overview
Competitive Advantage: An Overview
Business Ethics to Achieve Competitive Advantage
CSR and Business Ethics Vs. Profit Maximization
Importance of CSR Activities
Commercial Justification for CSR Policies for a Competitive Advantage
Summary
Recommendations for Application
Conclusion

From the Paper:

"Based on the data provided here, it seems reasonable to argue that corporate social responsibility encompasses a wide range of issues for the organization, requiring the fair, equitable, ethical and legal treatment of all organizational stakeholders. Stakeholders include employees and the public as a whole--i.e. anyone that will in some way be impacted by the organization. Through the adoption of comprehensive programs and policies that support fair and equitable treatment of stakeholders, the organization is able to establish a clear corporate social responsibility program that will have direct implications for the way in which the organization does business. CSR programs are intended to have a holistic impact on the organization, producing improved outcomes in all levels of operations."

Sample of Sources Used:

• Angeles Gil Estallo, M., Giner, de-la Fuente, F. & Griful-Miquela, C. 2007, "The importance of corporate social responsibility and its limits", International Advances in Economic Research, vol. 13, no. 3, pp. 379-388.
• Aronson, R., Olander S. & Steiner, T. 2003, "Governance and accountability in today's business climate: How do electronic cooperatives measure up?", Management Quarterly, vol. 44, no. 3, pp. 2-70.
• Berger, I.E., Cunningham, P. & Drumwright, M.E. 2007, "Mainstreaming corporate social responsibility: Developing markets for virtue", California Management Review, vol. 49, no. 4, pp. 132-157.
• Blair, M., Bugg-Levine, A. & Rippin, T. 2004, "The UN's role in corporate social responsibility", McKinsey Quarterly, vol. 4, pp. 21-23.
• Butler, K.M. 2006, "Examining the benefits of corporate social responsibility", Employee Benefit News, vol. 20, no. 6, pp. 26.

More papers on The Importance of Corporate Social Responsibility:

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• Research Paper # 112104 : "Corporate Social Responsibility in an Organization"

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