Corporate Social Responsibility (CSR) Essay Example | Topics and Well Written Essays - 2250 words - 1

Corporate Social Responsibility (CSR) - Essay ExampleFrom this discussion it is clear that before going to understand the contribution and role of Wal-Mart towards the CSR, it is utterly significant to clearly define and understand the entire judgment of CSR. This understanding would clearly help critically evaluate the role and commitment of Wal-Mart and other connections towards the CSR.This make-up outlines thatundoubtedly, this broader definition with a wider range of stakeholders may have distinct preferences for the accessiblely responsibly activities they would prefer to see a corporation invest in. In addition, these preferences do not remain the same they vary as the currency of social and environmental issues evolves over period of time. to a greater extent clearly, CSR involves extending integrated accountability to other stakeholders, who are every directly or indirectly affected by the corporate activities of corporations. Under the framework of CSR, corporations are required to publish their corporate activities that put either negative or positive effects on the other stakeholders. Normally, corporations add an additional portion to their annual reports. The additional portion defines and explains the aggregate bearing of a corporation towards the CSR. Employees, customers, suppliers, social and environmental groups, communities, governments, current and potential creditors, suppliers, and those other groups whose interests are directly or indirectly affected by corporate activities of corporations, are specify as the stakeholders.... In order to justify with the requirements of this paper, first, a corporation, Wal-Mart, and its CSR role has been included in this paper. Afterwards, the contribution of CSR towards corporate strategy is highlighted. Subsequent to that, the importance of CSR is discussed and a critical evaluation of CSR comes before the part of conclusion. Wal-Mart and CSR Before going to understand the contribution and ro le of Wal-Mart towards the CSR, it is utterly significant to clearly define and understand the entire concept of CSR. This understanding would clearly help critically evaluate the role and commitment of Wal-Mart and other corporations towards the CSR. Corporate Social Responsibility has a wide variety of definitions (Margolis & Walsh, 2003). However, sensation particular definition has been given to understand the term corporate social responsibility defines to be as voluntary actions of corporations, these actions are designed to improve social or environmental conditions (Davis, 1973 Wood, 1991 Wood & Jones, 1995 Waddock, 2004). Additionally, corporate social responsibility is also called as corporate social performance, sustainable responsible business (SRB), responsible business, corporate responsibility or corporate citizenship (Wood, 1991). Undoubtedly, this broader definition with a wider range of stakeholders may have distinct preferences for the socially responsibly activi ties they would prefer to see a corporation invest in. In addition, these preferences do not remain the same they vary as the currency of social and environmental issues evolves over period of time (Clarkson, 1995 Davis, 1973 Moskowitz, 1975 Wartick &Cochran, 1985 Wood, 1991a). More