Whats Corporate Social Responsibility Essay - 2124 Words

â€Å"Corporate Social Responsibility† â€Å"Corporations today are under a microscope. Virtually every aspect of operations is subject to scrutiny by consumers.† According to Ogilvy, If CSR issues are managed well, there will be opportunities for a company to build its reputation and differentiate itself. In today’s society, what you stand for as an organization matters way more than what you produce, sell or what services you provide. CSR is a commonly used as an abbreviation for â€Å"Corporate Social Responsibility†. It is the corporate plan to assess and take liability for the organization’s effects on the environment and impact on social welfare. It’s basically a companys commitment to values that benefit society in addition to itself and its†¦show more content†¦Even though some have not yet officially implemented CSR, they do however engage in concrete preventative measures, which are often labeled â€Å"Risk management†. This is a term commonly used for the process of identifying, controlling and minimizing the impact of uncertain events in an organization. The last thing a company needs is bad press. In Public Relations, people manage this by having their organizations and clients listen to criticism. They see the importance in learning form other’s mistakes. Risk management specialist, Michael Regester, indicated that some companies only pay attention to the pos itives aspects of their organization and fail to recognize the intensity of criticism they often receive. Some view CSR as a part of an organization’s overall â€Å"Issues management† initiative. Issues are situations that present matters of concern to organizations. Abe Bakhsheshy (2003) of the University of Utah defines it as a trend, an event, a development or a matter in dispute that may affect an organization. Issues management refers to the process by which an organization tries to anticipate emerging issues and respond to them before they get out of hand. As such, it is an ongoing process of aligning corporate behavior with stakeholder expectations. Issues arise when this alignment is missing. However, if these Corporate Social Responsibility issues are identified at an early stage, they can be prioritized, closely monitored and managed,Show MoreRelatedToyota s Ethics And Corporate Social Responsibility1267 Words   |  6 Pagesby Stewart (2010), Toyota ended up with a full blown crisis on its hands largely because of the delay and mediocre response from Toyota. The se management practices call in to question Toyota’s ethical practices and their commitment to corporate social responsibility (CSR) principles. 2. 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