Tuesday, October 8, 2019

Assignment Example | Topics and Well Written Essays - 250 words - 315

Assignment Example The company has accomplished and executed the four factors of corporate social responsibility through taking part in a cause-marketing case such as Project (RED). By donating their revenue for a life-saving operations, the business organization is presented in a good light. The company also generates its turnover in a legal and ethical manner, which forms its sustainable business development. I am of the opinion that corporations, which are socially involved, achieve better financial results, since they concentrate on worldwide social issues and regard this as a possibility to bring more business for the company. 2) Corporate Social Responsibility or CSR, generally being defines as a business concern of the welfare or wellbeing of the society, and run their business activities and operations in lawful and legally accepted manner to generate profit for the company. The four components of corporate social responsibility are Economic responsibilities by being profitable to the company, Legal responsibilities by obeying the law or playing by the rule, Ethical responsibilities by being ethical in carrying business and Philanthropic responsibilities by being a good corporate citizen and also by improving the quality and standard of living of the community and society. Economic performance is important as the foundation of the other three responsibilities, because if it does not achieve good performance, the other three responsibilities will be questionable. CSR stands for Corporate Social Responsibility and is defined by how much a business organization is concerned about the prosperity of the society. Corporations which implement social responsibility run their affairs in a lawfully abiding way in order to turn a profit. There are four factors of corporate social responsibility. The first one is the economic responsibility to generate revenue for the company. The second is the responsibility to obey the law and act according to

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