The Principles of Corporate Social Responsibility Concept Assignment

The Principles of Corporate Social Responsibility Concept - Assignment ExampleCurrently, it has become a concentre for many companies due to its continuing commitment to help businesses contribute to economic development by creation responsible to their respective stakeholders (Hancock, 2005, 12). The greater part of the CSR has helped manage or improve environmental and well-disposed impacts of the company. The increase use of CSR has encouraged the corporate sector to be more environmentally and socially responsible specially at a time when the crisis has damaged consumers level of trust in the operations of the company. This linked with the rise in transparency and social media has facilitated companies to begin taking CSR more seriously in position to help reduce their environmental impacts (Louche et al, 2010, 209). Corporate social responsibility has helped enterprises to contribute to the highly competitive social market economy and sustainable development. Responsible b usiness conduct has helped many private sector operators to entrust public services. For instance, they have provided employment opportunities, social amenities as well as sustainable, smart and inclusive growth (Mullerat & Brennan, 2011, 29). CSR has facilitated engagement with both external and internal stakeholders thus enabling businesses to take advantage of social fast-changing expectations as well as operating conditions. The enterprises have acted as drivers for the emergence of other markets and the development of genuinely opportunities for growth. Companies normally commit responsible investment in various sectors of the economy to enhance the social public assistance of their stakeholders. This results in economic growth thus improving the living standards of the stakeholders (Mullerat & Brennan, 2011, 89). Corporate social responsibility preparation has come to the forefront for major companies future growth opportunities. Their increased investment in CSR initiativ es, for instance, environmental initiative, has been real attractive in inducing economic stimulus of a country while at the sametime achieving solid CRS goals.