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Complete 7 pages APA formatted article: Key Principles of Corporate Social Responsibility Based on Starbucks.
Complete 7 pages APA formatted article: Key Principles of Corporate Social Responsibility Based on Starbucks. Beginning 1900 to 1970s, various movements calling for business to be more responsive to society rather than focusing on making profits only emerged. Businesses were called to accept responsibilities related to improvement of the society as a whole and this is the view obtaining on the ground at the moment.
Thus, in order to gain a clear understanding of the concept of CSR, it is imperative to begin by defining its meaning. Corporate social responsibility (CSR) can be defined as the "economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time" (Carroll and Buchholtz 2003, p. 36, viewed from http://www.referenceforbusiness.com/management/Comp-De/Corporate-Social-Responsibility.html ). Strydom (2004, p.11) concurs with this definition when he says: “CSR is the concept that maintains that businesses are part of the larger society in which they exist and are accountable to the society for their operations.” This concept often goes hand in hand with the concept of ethics which is loosely defined as an attempt to make a distinction between something that is morally good from bad (Guarnieri & Kao, 2008). There is a need for businesses to attempt to strike a fine balance between the organization’s profit needs and the needs and interests of the stakeholders. A wide range of behaviors such as the utilisation of environmental initiatives, sponsoring charitable events as well as demonstrating a commitment to safety is some of the tenets of CSR which businesses are mandated to observe. Basically, the stakeholder concept holds that a stakeholder is an individual or group that is affected by the actions of the organization (Smith, 2003). There are various kinds of stakeholders such as the customers, communities, shareholders, natural environment as well as civic groups among others.
Against this background, this essay seeks to discuss the key principles of CSR as well .as explain their importance for the stakeholders. .
