DQ1:What are the various understandings of the Business Case for CSR? Is this a good way of thinking about CSR? If yes, why? If no, why not?
Corporate Social Responsibility (CSR) can be defined as the policy or the practice that can be run by the business to beneficial the society. The different between social expectation of business performance and business actual social performance is getting bigger since 1960s (Carroll & Buchholtz 2008,16) , hence the CSR is promoted to solve the social problem. According to Milton Friedman, the theory of “The business of business is business”, all the money spent on the social and environmental is conflict with the nature of business. But the pressure and the social expectation of business performance is getting bigger and people start to believe that the business is responsible to the society and environment. The unethical business practice is getting more and more awareness by the public. People believes business have the power to bring positive impact to social and environment. Therefore, the term of CSR is promoted since 1970s.
CSR is encouraging the business to integrate the social and environmental impact into the processes of business. It is about finding creative and value-added solution to social and environmental challenges. All in all, it is about finding a solution that is beneficial to both business and society and also environment, another word means that its create a “win-win” scenario.
There are many different ways to outline the advantages of CSR. Generally, it include good CSR is interrelated to good financial performance (Banerjee 2008,62).The business can be improve financial performance and productivity though develop an operational efficiency strategy which is highly recommend by CSR. Society will support toward the business that have better CSR which will also increase the sales of the business. Other than that a good CSR performance will also improved the relationship between business...