BUSN 313 Post 5. Business & Marketing. Coursework.

BUSN313 POST 5
Author’s Name:
Institutional Affiliation:
Submission Date:
BUSN313 POST 5
The video for this assignment talks about corporate social responsibility in firms and their benefits in the market. The readings of this week were about target markets and how people can penetrate them to maximize their wealth. Hence, to understand and evaluate the two topics, we need to define corporate social responsibility. Corporate social responsibility refers to an developing business practice that integrates sustainable development into a firm business model (De Kluyver, 2010). It gives the company positive impacts on environmental, economic and social factors. Through corporate social responsibility, people thinking is changed to fit the business world. On the other hand, target market refers to a group of potential customers or consumers that a firm targets to sell their products and services (De Kluyver, 2010). There two types of firms in the business world. Firms that have embraced the CSR tool and those that do not use it.
Stakeholders manage those firms that have embraced the tool. The stakeholders have the responsibility of monitoring all the organization activities and behaviour. On the other hand, companies that do not use the CSR tool are managed by shareholders. Shareholders are responsible for making most of the organization decisions, which brings them high profit (De Kluyver, 2010). They are mostly concerned with profit maximization. Most of the firms that managed by both stakeholders and shareholders are not only concerned about the capital, but they consider other factors that affect their business. Corporate social responsibility companie...