Corporate Social Responsibility: Challenges, Benefits and Impact on Business Performance

Corporate executives have transitioned in their thinking about the role of corporations in a global society. Corporate social responsibility initiatives, once a nice-to-do’ for the marketing benefits, are now necessary to convince consumers to support their businesses. The current definitions of corporate social responsibility (CSR) have different foci, but most include improving the quality of life for people and the planet, as well as making profit. They also include the processes by which companies make their profits as well as what they do with them. All discussions of CSR include the requirement of external stakeholder dialogue, and understanding the values and needs of stakeholders, including employees, customers, suppliers, and the community members in which businesses operate. This book discusses several topics of interest in corporate social responsibility that include the identity and image of CSR; the relationship between disclosure and assurance in sustainability reporting; proposed methodology for measuring the published information on clients and human resources; total respect management; CSR and financial performance; as well as challenges, issues, and benefits of CSR on business performance.