Corporate Social Responsibility And Business - 2249 Words

Introduction As we all know, corporate social responsibility is a discipline in business practices. This is one of the business practice sector that is most demanding and constantly changing sector in business enterprise. Because of these demanding tasks that corporate social responsibility has posed on business, business leaders or stakeholders has been faced with the responsibility of bringing a favorable environment for business activities. The prospect of corporate social responsibility became famous in the 1960s. Many companies have used this term in an unlawful manner to benefit the business responsibility rather than overall business welfare, which it is meant for (Ferrell 2014, pp. 3-17). Corporate social responsibility in its†¦show more content†¦This also promotes a strong relationship between stakeholders and its communities they operate. Hence, it has made Canadian business activities to improve access to loanable funds and promote the well being of its citizens. CRS aim is to help an organization to accomplish its mission and goals set for themselves. It also helps the organization to stand out among its equal. The CRS aim is to encourage business enterprises to create positive impact in the business environment and create a forum in which the stakeholders will be able to interact with its consumers, investors, employees and the communities as a whole (Benson 2014, pp. 1636-1663). Many researchers has argued that the sole aim Corporate Social Responsibility is to increase long term profit through developing a high public relationship rather improving high ethical standards in the business which reduces risk. Business ethics in this contest aims at proper evaluation of moral, norms and ethical principle problems which may arise in a competitive business environment. The acceptable international standard for CRS is the ISO 2600. Many public sectors organizations adopt the accounting framework to examine organizational structure and performa nce of the business in other aspects to add business values. It is widely view that CRS adopts the same principles, but not basically on the legal