Corporate Social Responsibility Term Paper Example | Topics and Well Written Essays - 2500 words

Corporate Social Responsibility - Term Paper Example They also realized that injudicious exploitation of the communities and the environment is nothing more than making graveyards for themselves. The importance of a healthy community and environment has been realized quite late by the corporate world. The above realization resulted in the development of topics such as corporate social responsibility, sustainable development etc. he needs of nature and societies should be balanced with the needs of the corporate world in order to create a healthy business environment. Earlier, business world were concentrated more on their own needs which resulted in weakened relationships between the business and the society or nature. In short, current companies are aware of doing something to the communities and the environment in which they operate. This paper briefly analyses various dimensions of corporate social responsibility. Corporate Social Responsibility (CSR) Change is an inevitable aspect of human life. One can see tremendous changes in ev ery aspect of human life if he compares the current standards of living with respect to that a couple of decades before. Business circle is also undergoing lot many changes over the past few decades. The introduction of globalization, privatization and liberalization forced corporate companies to implement many changes in their business strategies. Earlier, organizations were more focused increasing their profits. They did so at the expense of the interest of the people. However, current organizations realized the importance of doing something in return to the community in which it operates. Corporate Social Responsibility is thus evolved as a new term in organizational world recently. Nexen (2009) defined Corporate Social Responsibility â€Å"as a commitment to behave ethically and contribute to economic development while improving the quality of life of our workforce and their families as well as the local community at large† (Nexen, 2009). Ethics and morality are rapidly d isappearing words from human life; however in the corporate world, these topics are much debated ones now. Relationship building is accepted as the core of every business activity by the modern companies. They are keener in establishing or developing strong relationship with the community in which they operate. Companies often strengthen their relationship with the communities with the help of doing some favors to the communities for the re4sources they exploited from the community. In short, modern companies are so particular in protecting the community and the environment in which they operate. Corporate social responsibility is currently accepted just as another business strategy by the modern organizations. Various dimensions of Corporate Social Responsibility (CSR) Hawkins, (2006) has pointed out that it is â€Å"the society which provides both customers and resources to fulfill the business objectives of the corporate companies† (Hawkins, 2006, p.2). A company can never operate in vacuum. Moreover, a company can never operate with the help of their own resources alone. For example, Coca Cola is the biggest soft drink manufacturer in the world at present. It operates in more than 200 countries worldwide. The major ingredient of every soft drink is water. Coke can never generate water from vacuum. They are exploiting both ground water and under water resources to produce their soft drinks. Exploitation of water resources will create drinking water