Corporate Social Responsibility, By Chantelle Daka Id Number

CORPORATE SOCIAL RESPONSIBILITY By Chantelle Daka ID Number:26267 CONTENTS Contents 2 Introduction 2 About CSR 4 How it is connected to the strategic purpose of an organisation 4 Result of CSR in reference to various stake holder group expectation’s (good and poor cases) 6 Conclusion 8 Bibliography 9 INTRODUCTION Corporate social responsibility (CSR) also known as corporate conscience and corporate citizenship according to Investopedia (2014). It is becoming a hugely applied concept and is a central area in business decision making (Cochran, 2007). According to the World Business Council for Sustainable Development (2014) CSR is described as the ongoing commitment by organisations/businesses to contribute to the economic development while improving the quality of life of the stake holders as well as the community and society as a whole. CSR involves organisations going beyond focusing entirely on how to maximize profits, to being more committed to building a better society. Social progress, economic development/production and environmental preservation are the three fundamental keys to sustainable development. While there are various definitions on CSR, this report will outline what is meant by the term â€Å"CSR† and how it is connected to the strategic purpose of an organisation. It will also critically asses the results of CSR in reference to various stakeholder expectation’s looking at both good and bad