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Csr guide A Guide to Corporate Social Responsibility CSR Corporate Social Responsibility CSR Starting point Why do businesses exist What is the purpose of a business or in the bigger picture any economic system The derivation of the word company Two Latin

A Guide to Corporate Social Responsibility CSR Corporate Social Responsibility CSR Starting point Why do businesses exist What is the purpose of a business or in the bigger picture any economic system The derivation of the word company Two Latin words cum and panis which mean breaking bread together How does this origin translate in today ? s business environment What are or should be the goals of the modern corporation Opinions di ?er and cover a wide spectrum Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate o ?cials of a social responsibility other than to make as much money for their stockholders as possible Milton Friedman I think many people assume wrongly that a company exists simply to make money While this is an important result of a company ? s existence we have to go deeper and ?nd the real reasons for our being As we investigate this we inevitably come to the conclusion that a group of people get together and exist as an institution that we call a company so that they are able to accomplish something collectively that they could not accomplish separately ?? they make a contribution to society a phrase which sounds trite but is fundamental Dave Packard Co-founder of Hewlett Packard Company in Corporate Social Responsibility CSR represents an attempt to address these questions What is CSR The entirety of CSR can be discerned from the three words contained within its title phrase ? corporate ? ? social ? and ? responsibility ? Therefore in broad terms CSR covers the responsibilities corporations or other for-pro ?t organizations have to the societies within which they are based and operate More speci ?cally CSR involves a business identifying its stakeholder groups and incorporating their needs and values within the strategic and day-to-day decision-making process Michael Arndt ? An Ode to ? The Money-Spinner ? ? BusinessWeek March pp - review of ? The Company A Short History of a Revolutionary Idea ? by John Micklethwait Adrian Wooldridge Modern Library Milton Friedman Capitalism and Freedom Chicago University of Chicago Press Charles Handy ? What ? s a Business For ? Harvard Business Review December p CA Guide to Corporate Social Responsibility CSR Therefore a business ? ? society ? within which it operates which de ?nes the number of stakeholders to which the organization has a ? responsibility ? may be broad or narrow depending on the industry in which the ?rm operates and its perspective Other de ?nitions of CSR The notion of companies looking beyond pro ?ts to their role in society is generally termed corporate social responsibility CSR ? It refers to a company linking itself with ethical values transparency employee relations compliance with legal requirements and overall respect for the communities in which they operate It goes beyond the occasional community service action however as CSR is a corporate philosophy that drives strategic decision-making partner selection hiring practices and ultimately brand