Corporate Social Responsibility Strategy

Corporate Social Responsibility Strategy:

Commonly abbreviated as (CSR), Corporate Social Responsibility is a business strategy that makes an organization socially responsible to the general public, its stakeholders, and the organization itself. The facilitation of corporate social responsibility involves many techniques put in place by a company’s management with the help of employees. Corporate social responsibility strategies are classified into accommodative, proactive, reactive, and defensive. Such values improve a CSR performance, leading creation and maintenance of weight in the company.

Accommodative strategy in a corporation defines the reactions to the demands of stakeholders and changes those that are harmful to the company's success. A reactive approach simply shows the commitment of all the other strategies to give appropriate responses to the company's stakeholders' demands. However, the defensive strategy tends to antsystemthe probability of changes occurring in stakeholders' needs, making the management to issue relevant resources in the process. The last method is proactive, which is the company's ability to use its power in shaping the stakeholder’s requests to satisfy both of them. Buy this excellently written paper or order a fresh one from ace-myhomework.com https://content.sciendo.com/view/journals/bsrj/8/1/article-p133.xml

A company's image is what comes to mind when the name is mentioned in a random discussion. A bad reputation discourages stakeholders, while a good reputation attracts many stakeholders into your company. Despite getting a lower image rating, my company would still participate in corporate social responsibility. According to (Barić,2017), corporate social responsibility mutually benefits stakeholders and the company through information exchange. As a result of CSR, my company would improve the quality of the services offered to our stakeholders and practice ethical business behaviors that benefit everyone, including employees. Even though the main goal is to make profits, our company concentrates on the satisfaction of our stakeholders to achieve our goals.

References.

Barić, A. (2017). Corporate social responsibility and stakeholders: Review of the last decade (2006–2015). Business Systems Research Journal, 8(1), 133-146.

Fang, S. R., Huang, C. Y., & Huang, S. W. L. (2010). Corporate social responsibility strategies, dynamic capability and organizational performance: Cases of top Taiwanselected benchmark enterprises. African Journal of Business Management, 4(1), 120132. https://academicjournals.org/journal/AJBM/article-abstract/7261EC921013