Corporate Social Responsibility
Corporate social responsibility is a relatively new area of discussion, it focus's on whether organizations should take full responsibility for all of it's activities.
Such activities include things that can impact on the organizations staff, customers, shareholders, the community living near the workplace and the environment.
All companies have legislation and laws which regulate how they should behave legally.
But corporate social responsibility is more concerned with the things a company can do voluntarily to improve situations for people and the environment.
Such things can include: trying to improve the work - life balance for its employees, helping local communities either by sponsorship of donations and such like, making sure that the company behaves in an environmentally sound way and generally improving the image of the company by doing things for the benefit of others.
Corporate social responsibility was unheard before the twentieth century when it was common for large businesses to mistreat their employees and not allow them any rights as workers.
This all changed however around one hundred years ago when the US Supreme Court broke up the Standard Oil Company on the grounds of antitrust. From that point on companies realized they needed to act more socially responsible.
This decision lead to companies putting the needs of their employees, surrounding areas and communities high on their agendas.
By doing this companies not only raise the standards of their workforce, but also find that they will have a higher retention rate for staff. This is due to the fact that people would rather work for a socially responsible company.
Similarly, people today prefer to use the services of a company that is socially responsible as they believe they are helping society by doing so. In short corporate social responsibility helps companies, employees, communities and the environment, and that is a good thing.
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