The notion of corporate social responsibility of business Essay

The notion of corporate social responsibility of business organizations - Essay Example It is evident from the study that various business organizations, ranging from small and medium sized enterprises (SMEs) to large corporate organizations, exist across the globe providing some service or products to their clients. Essentially, the businesses engage in some activity like production of goods or delivery of service to generate some revenue to enhance its sustainable development. This becomes the traditional economic role of the business organization. However, the operations of these business organizations are carried out in some societal context involving the human population and the environment. Thus, there is interrelation and mutual interaction between the company and the society. Besides, the business operations have to be carried out according to legislative provisions in a given country in which the organization operates. The governments and other regulatory agencies have legislation stretching across various social sectors including health, environmental, the fis cal policies, and the monetary policies among many others. Ethical considerations also need to be considered in executing the business operations by an organization. Various individuals affect, and are affected by, the operations of a given organizations. These individuals are termed the stakeholders of the organization. The interrelation has generated debates among academic scholars on the roles that business organizations need to play in the society. The societies have their interests and so do the business organizations. ... Corporate social responsibility involves performing roles that go beyond the legal obligations that prevail in a given region (Fontaine et al, 2006). It involves the organizations’ role in promoting social and economic developments in the communities while working with the employees, their families, the customers, the shareholders, the community members, and the larger society. This paper expounds the notion of social responsibility of business organizations. The rise of corporate social responsibility for business organizations Even though the notion of corporate social responsibility has come into the brighter limelight in the past three decades, the debates on this issue began as early as the 1950s (Heath & Ni, 2008) when scholars began to question the role of businesses in the society. The evaluation has since extended to non-profit and governmental agencies as well. The main point of concern in CSR is whether the business organizations add any value to the societies in wh ich they operate as they strive to achieve their mission and vision (Heath & Ni, 2008). CSR emerged and developed as a realization by the members of the public that the business organizations should no longer belong to their owners or founders (Carroll & Buchholtz, 2008, p.82). The society has developed various new expectations on the business organizations. The major characterization of corporate social responsibility in a business organization is how the organization involves its stakeholders like the customers, the stockholders, the employees, suppliers, the governments, non-governmental organizations, and international organizations in its business operations and strategy development (Fontaine et al, 2006).