Advantages and Disadvantages of Corporate Social Responsibility Essay

Advantages and Disadvantages of Corporate Social Responsibility - Essay ExampleThis root illustrates that there ar three CSR theories, which are interdisciplinary utilitarian, relational, and managerial theories. Utilitarian theories emphasize on a maximization of profit, hence related to theories of competitive advantage. The managerial theory, on the other hand, has the CSR approached internally meaning that anything exterior to the business is taken into account for the firms decision-making. The Relational theory has to do with the complex firm-environment relationships. The meaning here is that the firm-environment relationships form the focus of the CRS analysis. In the CRS, business in society comes up as a matter of interplay between the two. Thus, the relational theory is value-based and interdependent between the corporation and mankind. CSR is important to both the commission and the consumers in a number of ways for companies, it helps them create a better popular i mage since their public image is at the mercy of their social responsibility strategies and how their customers are mindful of them. According to Cone Communications, 90% of the consumers would avoid doing business with corporations if there were no social responsibility plan. Studies indicate that firms heavily involved in funds and goods donation to Non-governmental and other non-profit making organizations and schools are likely to increase the likelihood of consumers buying their products. At the same time, a corporation that takes care to ensure that the primal matter used in its products are environmentally secure and the manufacturing process is sustainable is more eye-catching to the society.