Organizational Ethics & CSR in Every Company

Organizational Ethics & CSR
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Organizational Ethics & CSR
Corporate Social Responsibility
Corporate Social responsibility is a company's commitment to managing the environmental, social, and economic effects of its operation in line with societal expectations. Some elements of CSR are requirements by law or statutes (Chain, 2011). For instance, financial institutions and hospitals are required by law to protects the information given to them by the public. Other activities are voluntary and depend on the company. Some of the CSR activities include setting policies that insist that companies or people should practice ethics, reinvest income in environmental, health, and safety programs, supporting charitable organizations, and providing equal employment opportunities to all people. In today's society, most stakeholders prioritize working or spending their money with companies who prioritize CSR.
What the general public thinks about the company is important to its success in business. By building a good reputation and brand, a company can make its name as being socially conscious. A solid CSR program is an opportunity for businesses to show their good citizenship and to save the company from the risks of overlooking the social factors and environment around them (Matten et al., 2004). Research conducted by Cone Communications demonstrated that about 90% of consumers interviewed said that they consider purchasing a product or service from a company if the company is socially responsible or supports what they care about. About 75% claimed that they wouldn't buy from a company if they learn that the company supports activities contrary to their beliefs, morals, and values.
The next generation of people and employees are looking for employers who are focused on the triple bottom line strategy of people, revenue, and plant. After a recession, a company's revenue normally increases and grows rapidly; hence companies are advised to direct part of their increasing profits into policies and programs that can give back because such sustainable developments can help companies grow financially. For instance, increased sales result from a more extensive customer base, reduction in production due to less packaging and energy.
Types of Corporate Responsibility 
Environmental efforts
One of the primary focuses of CSR activities is protecting the environment. Environmental issues usually make headlines, whether it is a global issue like climate change or a local issue like a harmful chemical spilled in a river. Businesses that align themselves in these efforts will minimize environmental challenges by taking measures such as reducing carbon print, recycling waste, and reducing emissions (Popa et al., 2014). Although environmental authorities regulate companies, they should practice it as a culture.
Philanthropy
companies can practice social responsibility by donating products, services, and money to nonprofits and social causes. The largest companies are mostly aligned to philanthropy. For instance, Bill and Melinda Gates Foundation works closely with Microsoft Corporation to bring technological activities to th...