Essay Example on A STUDY OF CSR AND IT S EFFECTS ON THE EXAMPLE OF BOSCH

That is managers who use corporate resources to further some social good are doing so only to advance a personal agenda such as promoting their self image Friedman 1970 One of the earliest challanges to Friedman s point of view was Caroll s A Three Dimensional Conceptual Model of Corporate Performance from 1979 Caroll s framework allowed others to test rhe relationship between CSR and financial performance Freeman 1984 argued that CSR is a valid role of management and that organizations can t thrive without the support of stakeholders such as employees customers suppliers and community groups and this is what real CSR actions have to begin Following this argument Fombrun and Shanley 1990 demonstrated that the returns to socially responsible behavior are captured through the reputation of the organization An implication of this can be that organizations are ought to acknowledge CSR as a part of corporate strategy Today most organizations practice a multifaceted version of CSR that runs the scope from pure philanthropy to environmental sustainability to the active pursuit of shared value Furthermore well managed organizations seem less interested in totally integrating CSR with 1 The manager acting as the agent for the shareholders or principals is supposed to make decisions that will maximize shareholder wealth even though it is in the manager s best interest to maximize his own wealth Read more https www investopedia com terms a agencyproblem asp ixzz55KJA8qoZ A STUDY OF CSR AND IT S EFFECTS ON THE EXAMPLE OF BOSCH 8 their business strategies and goals than in devising a convincing CSR program aligned with the organization s purpose and values Harvard Business Review 2015 General Analysis Conclusions A STUDY OF CSR AND IT S EFFECTS ON THE EXAMPLE OF BOSCH 9 References