Discussion Forum: Corporate Social Responsibility
In your own words, explain what CSR is. Name two examples of socially responsible companies you know and explain why you consider them so.
It is important for companies to incorporate social responsibility into their strategic plans. Give a brief summary of the company you chose in Week 1. What aspects of corporate social responsibility would you recommend they incorporate into its strategic plan? Support your rationale from your research.
(NOTE: Incorporate the feedback you receive from your instructor and save your work. It will be part of your Strategic Plan Final Project for this course).
Corporate social responsibility (CSR) is when an organization has a business model in place that is socially acceptable by consumers, investors, and stockholders. Most of these business models that are socially acceptable involve giving back to the community, donating portion of proceeds to a charity, or getting involved in a movement or organization within the community. Overall, the corporate social responsibility is having different levels of responsibility ranging from legal, ethical, philanthropic, and economic. Law responsibility is self-explainable where they make sure they are not breaking any laws. Economic responsibility is to be success and profitable so more jobs can be created. Philanthropic responsibility is where organizations will take some of their profits and donate it to charities or certain local projects. Ethical responsibility is making sure what the mission or business model, the right thing is being done. The two examples of socially responsible companies I choose are Google and Microsoft. Both these companies have giving back to the community and over decades have been giving back to charities, organization, and local projects to better the community.
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