Corporate Social Responsibility Essay - 882 Words

Corporations deal with a wide variety of social issues and problems; some directly related to their operations, some are not. Corporate Social Responsibility (CSR) can be defined as â€Å"the actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations† (Ghillyer 78). If this is the case, establishing appropriate and practical ethical guidelines in the workplace seems to be a reasonable request as a basis for corporate operations. Wal-Mart should be an example in determining what constitutes the values associated with its fundamental purpose of Corporate Social Responsibility. The four components of CSR are financial, legal, ethical,†¦show more content†¦In addition, most associates cannot afford to be covered by health insurance. The consequence of this treatment of personnel is a high employee turnover rate, which seems to question management’s view that the organization is a family (â€Å"The NEW Age of Walmart†). The second component of CSR, which is representative of the legal standards and obligations, refers to the expectation that a corporation will follow the rules set down by society. This means the organization is to comply with government laws used to protect employees’, stakeholders, customers, suppliers, the community, and other competition in the marketplace. An individual business could have thousands of legal responsibilities governing almost every aspect of their operations, including consumer and product laws, environmental laws, and employment laws (Barnett). The legal challenges that face Wal-Mart are numerous. Before Wal-Mart decides to build a new store, it researches and visits specific site locations in conjunction with considering the neighborhood. It does so discretely as not attract attention attempting to protect against opposition to the development of a new store. Defenders of Wal-Mart propose the overall advantages to the community, which includes economic benefits and consumer choice. Opponents to a new Wal-Mart have concerns over trafficShow MoreRelatedCorporate Social Responsibility : Corporate Responsibility773 Words   |  4 PagesCorporate social responsibility may also be referred to as corporate citizenship and can involve spending finances that do not directly benefit the company but rather advocate positive social and environmental change. The soul in the next economy forum presentation made it evident that achieving corporate social responsibly in a company can reap major benefits in terms of finances, more inspiring workplace and customer satisfaction. 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