essay on corporate social responsibility

• Search Search Please fill out this field.
• Portfolio Management
• Socially Responsible Investing

What Is Corporate Social Responsibility (CSR)?

How Corporate Social Responsibility Works

Benefits of corporate social responsibility, frequently asked questions (faqs).

 Hero Images / Getty Images

Corporate social responsibility (CSR) is the business practice of joining environmental and social policies with a business’ economic goals and operations. It is based on the idea that businesses can reduce their adverse social and environmental impact on the world.

Key Takeaways

• Corporate social responsibility (CSR) involves actions taken when a company seeks to improve its environmental and societal impact.
• CSR also includes companies adopting fair and ethical business practices.
• Research suggests that a commitment to CSR can positively affect a company’s finances and employee morale.
• CSR is similar to ESG, a process by which investors make decisions based on CSR programs and a company's environmental impact.

Corporate social responsibility is a way of doing business that aims to increase a company's social impact while meeting business objectives such as growth and revenue goals. It can also refer to any effort to improve a company's eco-friendliness or carbon footprint. Companies can deploy CSR efforts as a standalone program or as part of a broader campaign.

Companies may create CSR programs that involve every part of their business and often have dedicated staff members and resources for CSR.

Types of Corporate Social Responsibility

In 1991, researcher Archie B. Carroll, came up with a 'pyramid of corporate social responsibility.' His pyramid included the four components of CSR – economic responsibility (make profits), legal responsibility (follow laws), ethical responsibility (be fair) and philanthropic responsibility (be charitable).

These components have evolved over time into the following types of CSR:

• Economic responsibility : According to Carroll, maximizing profits consistently was the firm's responsibility. Of course, that definition has evolved to include business practices that not only help maximize profits but help make an impact.
• Environmental responsibility : Efforts made by companies to adopt business practices keeping in mind their environmental impact. This could include companies committed to shirking their carbon footprint or working in other ways to mitigate adverse impacts of global warming and climate change.
• Ethical responsibility : Efforts made by companies to adopt fair and ethical business practices. That could mean anything from offering equal to or better than minimum wages to employees, to using ethically sourced raw material.
• Philanthropic responsibility : Some companies may opt to give away a portion of their earnings or executive time to charities or towards charitable causes. For example, in 1946, Target made a commitment to give away 5% of the company's profits back to the community.

Examples of Corporate Social Responsibility

CSR programs vary in scope, but a few examples might include:

• Giving to nonprofit groups, such as local food banks, by supplying volunteers or through monetary donations
• Offering job-training programs for those in need
• Pledging to ensure diversity in the workforce
• Focusing on shrinking the company’s carbon footprint through improved supply chain efficiency

For example, outdoor and sport apparel-maker Patagonia has a number of programs as a part of its CSR efforts. These include a living wage program, a migrant worker program, a fair trade program as well as a fair labor program among others.

Another example of a company's corporate social responsibility is Starbucks' commitment to global human rights. This commitment is spelled out in official corporate policy and includes compliance requirements across the firm's business units. From hiring to supply chain to the way the company works with its business partners, adhering to this social mission affects all levels of Starbucks' operations.

Though CSR programs are often the result of pressure from within the community , research shows that, once instilled, these programs often receive broad support from within the company, too.

One report found that 92% of S&P 500 and Russell 1000 companies published reports charting their efforts related to CSR and sustainability in 2020. In 2011, that figure was less than 20%.

There's little doubt that CSR programs should exist in every business. Companies with robust CSR programs can benefit from better public relations and have happier customers. Improved company profits usually result, in turn satisfying stakeholders.

In some cases, the positive financial impact of CSR is clear. For example, a shift toward renewable energy sources, like solar panels at corporate campuses, might result in lower electricity costs over time.

A report by Babson College reviewed hundreds of CSR program studies. The reviewers found that the programs can have a strong impact on a company's market value and brand and lower risk. The report's findings found that CSR programs have the potential to do the following:

• Increase market value by up to 6%
• Reduce systemic risk by up to 4%
• Reduce the cost of debt by 40% or more
• Raise price premium by up to 20%
• Reduce staff turnover rate by up to 50%

A lot of companies publish CSR reports and provide success metrics, however, it is very difficult to measure the actual impact of CSR activities beyond the numbers provided by the companies.

Corporate Social Responsibility vs. Environmental, Social, and Corporate Governance

CSR is similar to environmental, social, and corporate governance (ESG) principles. The leading difference is that CSR is an internal function, while ESG is an external one.

With CSR programs, it's up to those inside the company to measure the success of their actions. They decide which programs to continue, and rework those that aren't performing as well.

ESG, on the other hand, is a metric that outside analysts can use to compare the effect of different corporate efforts to address environmental and social issues.

Many investment groups gauge companies based on their pledge to integrate ESG criteria. Institutional investors and mutual fund companies may outline how ESG guidelines are incorporated into their philosophies in their annual reports.

The framework for ESG reporting stems from the Global Reporting Initiative (GRI), which is a private standards body that seeks to standardize corporate sustainability reporting. It has been working toward this goal since the late 1990s.

In 2006, the United Nations launched the Principles for Responsible Investment (PRI), a program that institutional investors can use to merge ESG values into their decision-making process. More than 3,000 investors and groups have signed on to the PRI, pledging to stand by ESG six principles.

Individual investors may want their investments to reflect their values. They can buy into mutual funds and exchange traded funds (ETFs), grouped by their commitment to CSR. Examples of this include the iShares MSCI KLD 400 Social ETF (DSI) and the SPDR SSGA Gender Diversity Index Fund (SHE).

Why is corporate social responsibility important?

Big businesses committing to social and environmental causes can make a big a difference. However, CSR is important for businesses not just because it is good for their brand. Research suggests that CSR can potentially help companies increase their market value, reduce systemic risks and even retain employees. A 2019 survey suggested that 77% of consumers were motivated to give their business to companies committed to making the world a better place.

What is mainly driving the move toward more corporate social responsibility?

Companies moving towards practices aligned with environment, social and governance (ESG) criteria one of the driving forces behind CSR in recent years. While ESG has its roots in CSR, ESG is more focused on driving environmental impact, sustainability , and positive changes towards social justice.

Harvard Business School. " 5 Examples of Corporate Social Responsibility That Were Successful ."

Archie B. Carroll. " The Pyramid of Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders ," Pages 40-43.

Target. " 2021 Target Corporate Social Responsibility Report ," Page 11.

Patagonia. " Social Responsibility. "

Starbucks.com. " Global Human Rights Statement ."

Porter Novelli. " PN Purpose Tracker: Employee Perspectives on Responsible Leadership During Crisis ," Page 3.

Governance & Accountability Institute. " 92% of S&P 500® Companies and 70% of Russell 1000® Companies Published Sustainability Reports in 2020, G&A Institute Research Shows ."

Babson College. " Project ROI: Defining the Competitive and Financial Advantages of Corporate Responsibility and Sustainability ," Page 3.

Global Reporting Initiative. " About GRI ."

Principles for Responsible Investment. " About the PRI ."

Aflac. " 2019 AFLAC CSR Survey ."

Dan Daugaard and Ashley Ding. "Global Drivers for ESG Performance: The Body of Knowledge."

Home — Essay Samples — Business — Corporate Social Responsibility

Essays on Corporate Social Responsibility

Corporate Social Responsibility (CSR) has become an integral part of modern business practices. It involves companies taking responsibility for the impacts of their activities on society and the environment. As such, CSR has gained increasing attention from businesses, consumers, and policymakers. Writing an essay on CSR provides an opportunity to explore various aspects of this important topic and its implications for business and society. In this article, we will provide a long list of CSR essay topics and discuss the importance of the topic, as well as offer advice on choosing a topic for your essay.

The Importance of the Topic

The concept of CSR has gained significant importance in recent years due to the increasing awareness of environmental and social issues. As a result, businesses are under pressure to operate in a more sustainable and socially responsible manner. This involves considering the impact of their operations on the environment, as well as their employees, customers, and local communities. CSR has also become a key factor in shaping a company's reputation and brand image, as consumers are increasingly looking to support companies that demonstrate a commitment to social and environmental responsibility.

Furthermore, CSR can have a positive impact on a company's bottom line. Research has shown that companies that prioritize CSR tend to have better financial performance and are more attractive to investors. Additionally, CSR initiatives can help improve employee morale, attract top talent, and enhance customer loyalty.

Advice on Choosing a Topic

When choosing a topic for your CSR essay, it's important to consider your interests and the specific aspects of CSR that you are passionate about. You may want to focus on a particular industry, such as the fashion industry or the technology sector, and explore the CSR practices and challenges within that industry. Alternatively, you may want to examine the role of government policies and regulations in promoting CSR, or the impact of CSR on consumer behavior and purchasing decisions. You could also explore the ethical implications of CSR, corporate governance, or the role of stakeholders in shaping CSR strategies.

In addition, you may want to consider current events and trends related to CSR, such as the impact of the COVID-19 pandemic on CSR practices, or the role of businesses in addressing climate change and environmental sustainability. Ultimately, the goal is to choose a topic that is both relevant and meaningful to you, and that allows you to explore and analyze the complexities of CSR in a thoughtful and insightful manner.

Writing an essay on Corporate Social Responsibility provides an opportunity to delve into a wide range of important and timely topics. CSR is an increasingly important aspect of modern business practices, with implications for the environment, society, and the economy. By choosing a topic that is relevant and meaningful to you, you can explore the complexities of CSR and contribute to the ongoing dialogue on how businesses can operate in a more sustainable and socially responsible manner. Hopefully, the list of CSR essay topics provided in this article will inspire you to choose a topic that sparks your interest and allows you to make a valuable contribution to the discussion on CSR.

List of CSR Essay Topics

• CSR practices in the fashion industry
• The impact of government policies on CSR
• Consumer behavior and CSR
• Ethical implications of CSR
• Corporate governance and CSR
• Stakeholder roles in shaping CSR strategies
• The impact of COVID-19 on CSR practices
• Businesses' role in addressing climate change
• Environmental sustainability and CSR

Carhartt Case Study: a Company Analysis

Philanthropic responsibility case study, made-to-order essay as fast as you need it.

Each essay is customized to cater to your unique preferences

+ experts online

Case Study: Augustine Medical

Corporate social responsibility (csr), the importance of corporate social responsibility, ethics and corporate social responsibility, let us write you an essay from scratch.

• 450+ experts on 30 subjects ready to help
• Custom essay delivered in as few as 3 hours

What Are Toyota's Mission and Vision Statements

The corporate social responsibility of apple inc, corporate social responsibility and human trafficking, corporate social responsibility: cisco system inc., get a personalized essay in under 3 hours.

Expert-written essays crafted with your exact needs in mind

The Concept of Corporate Social Responsibility at The Non-governmental Organizations

Individual and corporate social responsibility, the effectiveness of corporate social responsibility, social responsibility & ethics management program in business, case study on google’s code of ethics, trust and policy influence effects of csr and cpa, the boeing company: the learning points, differences in business ethics among east asian countries, an impact of profitability on corporate social responsibility, profit as the lifeblood of business, corporate social responsibility for small and medium enterprises, an evaluation of the strengths and weaknesses of united parcel services, an issue of nestle pumping water out of michigan, procter & gamble’s corporate social responsibility strategy, case study on friends of the earth international (foei) v. wilmar international limited (wil), the importance of corporate social responsibility programs for football clubs, major ethical issues in business, allegations of children rights and human rights violations by british american tobacco, social and ethical responsibility on the example of the peter alexander`s company, individual sorporate social responsibility (csr) company analysis: reflective journal, relevant topics.

• Small Business
• Starting a Business
• Madam Cj Walker
• Time Management
• Swot Analysis

By clicking “Check Writers’ Offers”, you agree to our terms of service and privacy policy . We’ll occasionally send you promo and account related email

No need to pay just yet!

We use cookies to personalyze your web-site experience. By continuing we’ll assume you board with our cookie policy .

• Instructions Followed To The Letter
• Deadlines Met At Every Stage
• Unique And Plagiarism Free