Corporate Social Responsibility And Its Implication

Northeastern University Corporate Social Responsibility Final paper Topic: Corporate Social Responsibility and its implication in Africa Temitope Oguntoyinbo Introduction Human beings are living organisms whose health is dependent on how well internal body systems interact with the external system. A person is considered healthy when all the body systems are performing at an optimum rate and interacting appropriately. There is another aspect that influences the well-being of people significantly. The interaction between an individual also plays an important role in ensuring that internal systems are performing well. These two aspects of internal and external environments of a person are also real in the business world. The†¦show more content†¦Companies should not strive to achieve financial performance at the expense of the society and the environment. Organizations are expected to actively analyze the impact of their operations on the overall financial and social systems in which they operate. Businesses should know expectations of the society and then manage their behavior and actions to yield results that address those expectations. The implementation of corporate social responsibility plan by an organization is an honor to humanity and nature. CSR discourages organizations from engaging in activities that threaten the life of people affected by its operations. An example is waste management strategies a company puts in place to ensure an appropriate disposal of by-products. Waste materials can pose health dangers such as cancer, contamination of water and food which may result in illnesses or even death of community members. Additionally, natural resources such as forests and water are threatened by selfish strategies aimed at realizing financial performance without consideration of social responsibilities of the firm. CSR also encourages organizations to behave and act in a manner that promotes values of the community which they are embedded (International Conference on Economics and Management Engineering, 2014). Alexander P. (2015) argues that business ethics should not be sacrificed on the altar of profit maximization. It is the interest of shareholders to get more returns from theirShow MoreRelatedCorporate Social Responsibility: Historical Perspective, Implications, Role, and Prospects and Governance in Bangladesh3395 Words   |  14 Pagesgoverning the passing of benefits and burdens of freehold covenants should be enunciated. Explain and illustrate. 1 .Introduction: The first question that needs to be answered is ‘what do we mean by corporate social responsibility or CSR?’ Corporate social responsibility can be defined as â€Å"the behavior that society commonly expects of businesses in matters of public concern.†[1] . 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