Petrova Karina, group 9-6-33

The company's social responsibility policies in today's world

In todays business world there are a lot of strategies being used to run business such as special loyalty
programmes, express delivery and mobile-friendly shopping experience. It goes without saying that these
offerings are very important, however, it is getting more and more difficult for businesses to conciliate a
new consumer as the latter has a plethora of options. The thing that can tip the scales in favour of a business
is using profits to do good in the world and benefit society. Therefore, the topic of Corporate Social
Responsibility (CSR) is becoming more and more popular.
Nowadays, corporate social responsibility is an essential part of many business organizations,
especially for big corporations. Generally speaking, it ensures that a businesss activities comply with the
law, ethical standards and international norms. Implementation of these policies is becoming almost an
obligation in a range of countries. Corporate social responsibility is aimed at keeping both environmental
and business sustainability sound. To develop economic sustainability, a company should take into account
the interests of its employees, consumers and society in general, as they affect directly companys image,
profits and appeal for investors.
Adopting corporate social responsibility has a number of advantages. First of all, it can help
shareholders. Despite the fact that socially responsible actions may reduce a companys profits, they can
greatly enhance a companys reputation and broaden the marketability of its stock to potential investors as
many of them view social responsibility as an investment prerequisite. Thus, implementation of social
responsibility policies may provide an access to investment and funding opportunities. It addition to this, it
can generate positive publicity and media opportunities as today media is very interested in ethical business
activities. For example, the problem of exploitation of cheap labour force in developing countries without
providing proper working conditions and wages. Moreover, adopting corporate social responsibility can
stimulate a positive climate in a company, as employees feel that their work makes an impact, what is
important for their happiness. Hence, it may strengthen their loyalty to a company and enhance productivity
of their work what will influence positively a companys profits and reputation.
Although there are a lot of obvious advantages of adopting social responsible policies, there are some
people who claim that social responsible policies have some drawbacks. Some companies may use social
responsibility policies to direct consumers attention from more serious and harmful businesss practices.
For instance, McDonalds corporation - a well-known fast food chain that has restaurants all over the world
actively claims that they conduct social responsibility policies. However, McDonalds meals have been
accused of promoting poor eating habits, unhealthy lifestyle and using poor ingredients for its products.
Thus, it is possible to say that some company may abuse social responsibility policies to switch publics
attention away from significant problems.

Petrova Karina, group 9-6-33

In conclusion, this work has shown that corporate social responsibility is a vital element for any
businesses to be able to withstand competition. Despite the fact that some corporations may abuse corporate
social responsibility policies to hide some drawbacks and negative practices of their business, it actually
produces favorable results for consumers, stakeholders and a company itself. Big corporations are important
institutions and, therefore, can contribute significantly to the well-being of society and environmental
sustainability.

Petrova Karina, group 9-6-33

Petrova Karina, group 9-6-33

business practices