Essay About Importance Of Corporate Social Responsibility And Short Term Shareholder Profit

The Importance of Corporate Social Responsibility
The importance of Corporate Social Responsibility reflect in the understanding framework of Social, Environment and financial measures which can benefits the organization and the environment. Firstly, it is from Profit Focus, which occurs only for short term shareholder profit to Philanthropy, passive donations to charities when requested, then following by Community affairs, on strategic giving linked toward business concentration. And corporate community investment, showing the strategic partnerships initiated by company. Lastly, from revenue focus to Sustainable Business, which eventually integrated into business functions, goals, and strategy. This is the basic overview of importance in corporate social responsibility. Nowadays, Corporate Social Responsibility is considered important based on some of the aspects which is Increasing competitiveness of company, this indicate that CSR bring advantage in a ways that it benefits in terms of Risk management, Cost reducing, accessibility towards capital, improve customer relationships, helps Human resource management and capability of innovations. This is due to CSR is mainly providing significantly impact towards the objectives of sustainability development. Besides, CSR supported by internal and external stakeholder enable the fast shifting of expectations and expectation of initiatives towards the society which could be a driver on achieving the development of new markets thus create growth opportunity and job opportunity. “Businesses in general are highly responsible and they have to sell goods, hire people in their local community, they have to maintain workers. Therefore most companies do recognize the responsibilities they have to the wider public. In addition, CSR could be capable of establish long-term employee, consumer and citizen trust which serve as a basic component of sustainable business models. In this term, it helps the multinational company creates an innovative growth environment for the society.