Business Ethics Corporate Social Responsibility Paper.docx
1. Business Ethics Corporate Social Responsibility Paper
View attached explanation and answer. Let me know if you have any questions.1Business
EthicsNameInstructorInstitutionDate2Question A; Purpose of CSRCorporate social
responsibility (CSR) entails a firm’s efforts to enhance the societalenvironment it is
operating. These efforts aim to help society and can range from engaging incharitable
organizations to developing policies that minimize carbon footprints. CSR is abusiness
paradigm that assists an organization in being socially liable for the public, itsstakeholders,
and itself. By engaging in CSR, organizations can be aware of their effect on allfacets of
society, such as the environment, social, and economic facets. Corporate socialresponsibility
benefits employees, shareholders, and the company itself. While companies are notlegally
mandated to engage in CSR, they do so willingly to improve communities.The primary goal
of CSR in an organization is to give back to society. Organizations areincreasingly engaging
in corporate social responsibility with the aim of improving theirrecognition and enhancing
their brand recognition. As stated, companies that participate in CSRbenefit significantly.
Studies show that CSR builds trust because by helping communities, itgains trust from
current and potential customers. CSR also promotes positive relationshipsbetween
companies and community members. Communities, including members of the public,have
good relationships with organizations that give back to society through
charitableendeavors.CSR also increases profits. Research shows that most customers
purchase goods andservices from socially responsible organizations. Therefore, sales and
profits will likely increasebecause corporate social responsibility attracts and retains
customers. In addition to benefitingthe organization, CSR also greatly benefits employees.
Organizations that engage in CSR tend toattract skilled and experienced candidates while
simultaneously motivating existing employees.Also, CSR enhances employee retention
rates, loyalty, and morale (Baxi & Ray, 2012).31. StakeholdersThere are two forms of
stakeholders in any entity; primary and secondary. Primarystakeholders are directly
involved in an organization’s operations, including employees,customers, shareholders, and
suppliers. On the other hand, secondary stakeholders indirectlyengage in the daily
operations of a company. Unlike primary stakeholders, secondarystakeholders play passive
roles and include government agencies, media, trade unions,competitors, and the general
public. Secondary stakeholders are interested in a company’s publicrelations and can assist
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