Individual Reflective Journal

  • Category:
    Management
  • Document type:
    Assignment
  • Level:
    Masters
  • Page:
    2
  • Words:
    1076

6REFLECTIVE JOURNAL

Reflective Journal

Corporate Social Responsibility — Reflective Journal

Prior to this course, my knowledge about sustainability issues and the impact of Corporate Social Responsibility (CSR) to the society was microscopic. But now I understand that sustainability has become a major priority since the consumption of Earth’s resources has increased tremendously due to the increasing global population. Without a doubt, the global increase in population has resulted in environmental, economic and social challenges, which places the future generations at risk. Myself, I have been cynical of Corporate Social Responsibility because it is used by businesses to solve problems with the objective of achieving long-lasting results. When social responsibility is accepted by society as a voluntary commitment from business organisations anticipating investment return, then I think it should not be referred as ‘responsibility’. For years, I have believed that all the CSR initiatives should be comprehended in terms of the individual characteristics of the corporation, rather than just one standard requirement that exemplify the initiative itself. Hitherto, I have learned the importance of carrying out a concrete analysis with regard to the corporation’s context as well as the impacts of its production and operations. The analysis would help the company to design an effective CSR plan. To a certain extent, I have realised that many companies are not looking beyond their ability; therefore, turning ethics into profits have become increasingly challenging. While growing up, my father used to complain that the world problems cannot be talked by businesses that have failed to handle their own impacts.

should not just focus on turning ethics into profits, but should also ensure their initiatives are ethical and positively impact the members of society. Many companies consider Corporate Social Responsibility as a tool for innovation, creativity and achieving competitive advantages. Most corporations engage in CSR activities not to improve the wellbeing of the communities, but instead to improve their business reputation and profits. Not all businesses are showing the aspect of sustainability, which involves being responsible for future generations through sustainable initiatives,companies responsibility and profits should be embedded in businesses’ main drive of accumulating profit. This can be achieved by contributing to the socio-economic development of communities, offering eco-friendly products and services, promoting workplace safety, and so forth. Importantly, their employment value proposition. Personally, I think thatimprovinggoing green’ with the objective of Ismail (2009), companies are using the term ‘Back then, I never understood what my father was implying, but after learning the concept of sustainability it is now clear what he meant. My father’s argument was that large companies were making a visible commitment to social responsibility, but, they did not have initiatives in place to reduce their environmental footprint. Such companies were focussing more on financial performance, rather than environmental performance. Even today, many companies are engaging in CSR activities, not for sustainability, but to improve social reputation and drive company growth. According to

posit that have failed to address the main issues like the business operations environmental and social impact on the communities. Málovics, Csigéné, and Kraus (2008) As an individual and a potential future manager, CSR is important because it exhibits how corporations are benefiting from serving the communities. This theme is important to me because it can differentiate a business from others and also can lead to a competitive market advantage, which is something important for the company’s brand at present and in the future. As a future manager, I have learned that companies having strong CSR policy are more inclined to become successful in creating a positive brand. Importantly, a strong CSR policy results in improves market reputation and brand image, reduced risks as well as long-term strategic interests. Before engaging in CSR activities, I think it is imperative for companies first to understand the expectations of the public authorities, the citizens and consumers, how the economic activities can positively or negatively affect the environment, and business activities transparency. These days, companies are closely monitored not just by the authorities, but also the media and the public. Importantly, I have learned that the main objective of the CSR concept core idea is that role played by the corporation in the society should be more noneconomic rather than economic (making profits). This can be achieved by engaging in environmentally and society-driven activities; that is to say, businesses have to rise above their commercial activities that are profit-oriented and start improving the community well-being. In so doing, they will make the world a better place. Given that most CSR practices are business-driven,

overty in urban and rural areas has not been tucked away. Corporate social responsibility should not be a tool for improving business reputation or generating profits, but instead, it should be an instrument for reducing poverty and reducing costs. In the future, I will ensure CSR focus on the wellbeing of the communities rather than that of the company. research and development, resource management, communication, training and development and co-operation with other institutions such as those involved in environment protection. It is unwise for companies to make profits in millions while the issue of pollution and pAs a result of new thinking, I have started considering corporate social responsibility an important feature of both the society (improves wellbeing of communities) and business (improves business reputation and profits), but still, there is a need to address the issue of ethics, stakeholder management, and global corporate citizenship. We can shift from fractured d knowledge economy towards an integrated by updating the socially responsible leadership. In my opinion, I think the time has come when the companies should start pushing for highest short-term gain through engaging in sustainable activities. Still, there are some erroneous assumptions as well as misconceptions concerning business profitability and opportunities that can be achieved through public relations, rather than CSR activities. What I believe is that when the business serves the poor, they would gain new sources of greater efficiencies, which eventually will result in improved purchasing from the local consumers. Still, CSR cannot become successful without accountability from organisations, leaders, community members, employees, customers, and other stakeholders. This course has enabled me to understand the factors that could influence the effectiveness of CSR activities:

References

Ismail, M. (2009). Corporate social responsibility and its role in community development: an international perspective. The Journal of International Social Research, 2(5), 199–209.

Málovics, G., Csigéné, N. N., & Kraus, S. (2008). The role of corporate social responsibility in strong sustainability. The Journal of Socio-Economics, 37(3), 907–918.