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

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Running head A STUDY OF CSR AND IT S EFFECTS ON THE EXAMPLE OF BOSCH 1 A STUDY OF CORPORATE SOCIAL RESPONSIBILITY AND ITS EFFECTS ON THE EXAMPLE OF BOSCH GMBH Institution Schiller International University Course BA 589 Methods of Research and Analysis Introduction Literature review With increasing awareness of environmental problems and therefore the magnitude of prices associated it has become an imperative for organizations to integrate environmental efforts into their business strategy There is a growing awareness among organizations on conservation and optimum utilization of natural resources to realize competitive advantage Hart 1995 Corporate Social Responsibility CSR is a concept that originated in the 1950s when many people believed that the actions of corporations are closely related to society and the public and should adjust and satisfy social values and expectations Bowen 1953 Since then many studies have been conducted in order to truly analyzes what does it mean to be socially responsible especially when it concerns organizational behavior One of the factors contributing to the ambiguity that raised all the discussions about social responsibility was the lack of consensus on what the concept really means Wayne Visser 20 in his book The A to Z of Corporate Social Responsibility defines CSR as a concept of Value creation Economic development Good governance Institutional effectiveness Social contribution Stakeholder orientation

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Environmental integrity Sustainable ecosystems Similarly Investopedia com 2018 defines CSR as corporation s initiatives to assess and take responsibility for the company s effects on environmental and social wellbeing The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups Two theoretical views were adopted to analyze the contexts within which an organization is encouraged to commence environmental actions and assess A STUDY OF CSR AND IT S EFFECTS ON THE EXAMPLE OF BOSCH 7 environmental ways The Natural Resource Based Theory NRBT is concerned with how an individual firm might gain a competitive advantage by going green Hart 1995 The neo institutional theory emphasizes the role of social and cultural pressures imposed on organizations that influence organizational practices and structures Scott 1995 Some researchers had a somewhat negative view of how CSR is being conducted and what s it really for Friedman s New York Times Magazine piece is the one that is the most usually cited Here Friedman argues that the responsibility of managers is to maximize the return to shareholders and that any actions that further some social good beyond the interest of the stockholders can be viewed as deriving from an agency problem 1

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


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