Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 3000 words

Corporate Social Responsibility - Essay Example This essay stresses that CSR has been known to have a great positive impact on the reputation of a business but very little, if any, impact on the profit margins of a company. This paper declares that the level to which these principles are applied is institutional and is on the basis of a firms basic business obligations as a business unit. Principles of social responsiveness are of value simply because they define the institutional relationship between businesses and the society and gives a specification of what is expected of the business. This being the first level of measuring CSR, it is all about the relationship between the relationship between businesses and the society at large. This level has three major elements. The first major element is legitimacy. This concerns the business as a social institution and it frames the analytical view of the relationship between a business and society. The second element is public responsibility. This concerns the individual firm and its processes and outcomes within the framework of its own principles in terms of what it actually does. The third element is managerial discretion. This element refers to the membe rs of the organization, managers especially, as moral actors of the company. Managers are under obligation to exercise discretion as is availed to them towards socially responsible outcomes within every domain of corporate social responsibility.... Just like any other business variable, CSR is measureable. Much interest has grown on the measurement of CSR and as a result, people have developed numerous literary documents that try to explain how CSR can be measured. The most common approach for measuring CSR is a systems model that is referred to as the 3p Model (Hopkins 2012). This model evaluates the CSR performance of a business on three levels namely: Principles of social responsibility; Processes of social responsiveness; and Products or the outcomes as they relate to the firms societal relationships. Principles of Social Responsiveness The level to which these principles are applied is institutional and is on the basis of a firms basic business obligations as a business unit. Principles of social responsiveness are of value simply because they define the institutional relationship between businesses and the society and gives a specification of what is expected of the business. This being the first level of measuring CSR, i t is all about the relationship between the relationship between businesses and the society at large. This level has three major elements. The first major element is legitimacy. This concerns the business as a social institution and it frames the analytical view of the relationship between a business and society. The second element is public responsibility. This concerns the individual firm and its processes and outcomes within the framework of its own principles in terms of what it actually does. The third element is managerial discretion. This element refers to the members of the organization, managers especially, as moral actors of the company. Managers are under obligation