Responsibilities of companies differ between their stakeholders regarding economic, legal, and social issues in order to improve organisational performance in terms of financial performance, employee commitment, and corporate reputation. In addition, the strategy of Corporate social responsibility is important (policy, programme or process) when it yields substantial business- related benefits to the firm, in particular by supporting core business activities and thus contributing to the firm's effectiveness in accomplishing its mission (Burke & Logsdon 1996). The blending of these responsibilities into complete corporate policy without losing sight of any of its commitment is the main challenge for the company.
Additionally, in the long-term, the commitment of the company toward its stakeholders often leads to improved organisational performance. In other words, while the economic responsibility of the company might conflict with its social responsibility in the short-term, at the same time, they can work together to improve the company’s image. Thus, this does not mean that a socially responsible company cannot be as profitable as others.Currently, the common concept of CSR involves companies voluntarily disclosing social and environmental concerns in their operations to stakeholders. It includes some complex issues such as environmental protection, human resources management, health and safety at work, relations with local communities, and relations with suppliers and consumers. In addition, Friedman (2002) presented the most famous definition of CSR as the economic concept of market value maximization that has support from shareholders. He asserts that the profit demands of the owners or shareholders and the basic
regulations of society are consistent with the responsibility of a company.
Responsibilities of companies differ between their stakeholders regarding economic, legal, and social issues in order to improve organisational performance in terms of financial performance, employee commitment, and corporate reputation. In addition, the strategy of Corporate social responsibility is important (policy, programme or process) when it yields substantial business- related benefits to the firm, in particular by supporting core business activities and thus contributing to the firm's effectiveness in accomplishing its mission (Burke & Logsdon 1996). The blending of these responsibilities into complete corporate policy without losing sight of any of its commitment is the main challenge for the company.
Additionally, in the long-term, the commitment of the company toward its stakeholders often leads to improved organisational performance. In other words, while the economic responsibility of the company might conflict with its social responsibility in the short-term, at the same time, they can work together to improve the company’s image. Thus, this does not mean that a socially responsible company cannot be as profitable as others.Currently, the common concept of CSR involves companies voluntarily disclosing social and environmental concerns in their operations to stakeholders. It includes some complex issues such as environmental protection, human resources management, health and safety at work, relations with local communities, and relations with suppliers and consumers. In addition, Friedman (2002) presented the most famous definition of CSR as the economic concept of market value maximization that has support from shareholders. He asserts that the profit demands of the owners or shareholders and the basic
regulations of society are consistent with the responsibility of a company.
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