Corporate Social Responsibility

Paper Summary:

This paper examines how social responsibility is an important concern of corporations and community alike. In particular, it discusses the important tool of corporate social responsibility (CSR) and how firms use it. The paper looks at how it is usually used for financial gains or for enhancing a company's image and how some firms might engage in it for purely philanthropic reasons. The paper recommends uses for corporate soical responsibility and discusses how it can be tied with better financial health.

Outline:
Introduction
Theory and Assumptions
How Social Responsibility Affects Business
Recommendations
References

From the Paper:

"Social responsibility has also become a buzzword because of the availability of large variety of similar goods. When a product comes into the market, it has to fight very hard for consumer's attention because there are several other rival goods competing for the same. A marketing and design consultant (Neuborne, 1991) states: "There was a time when you bought a product just for its price or performance...but with the number of products available, it is increasingly difficult to differentiate one product from another." In this situation, a consumer may base his buying decision on company's image and its commitment to public good. This is clearly indicated by a book, 'Shopping for a Better World' that has been selling millions of copies since it first came out in the market."

Sample of Sources Used:

• Miller, H. "Businesses don't have social responsibilities; people do." The Miami Herald 21 July 2004.
• "The Good Company." The Economist. 22-28 Jan. 2005: 11.
• Braungart, M; McDonough, W. Cradle to Cradle. New York: North Point Press, 2002.
• Aaronson, S; Reeves, J. Corporate Responsibility in the Global Village: The Role of Public Policy. Washington, DC: National Policy Association, 2002.
• Bross, D. Director, Community Outreach, US Legal-Community Affairs. Microsoft Corporation. Personal Interview. 23 June 2003.

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