Corporate Responsibilty Essay

2155 WordsNov 7, 20119 Pages
| | |Corporate Social Responsibility: | |Affect on Corporations and Governance | Executive Summary Over the past decades, there have been increasing concerns from the public that many businesses have little concern for the consumer, care nothing about the deteriorating social order, and are indifferent to the problems of the environment and minorities. The way companies handle these perceptions is by focusing on Corporate Social Responsibility (CSR). CSR is defined as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. Corporate social Responsibility is a hot issue these days and has been for the past 40 years. The views usually fall into three categories. The ones who believe the responsibility if firms is to maximized profit. The others who believe the firms are duty bound to pay it forward to the communities that support them and finally those who believe that the answer lies in between the first two views. Like most issues concerning corporations the answers are rarely clear cut. Introduction Corporate Social Responsibility (CSR) became a common term in the late 1960’s early 70’s. The term (CSR) refers to operating a business in a manner that accounts for the social and environmental impact created by the business. CSR means a commitment to developing policies that integrate responsible practices into daily business operations,

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