Corporate Social Responsibility is a series of activities taken up by the organi
ID: 373422 • Letter: C
Question
Corporate Social Responsibility is a series of activities taken up by the organization as a contribution towards the society. Organization's stakeholders get benefitted at large due to CSR activities. Some ofthem are :
Projects a good image of the company in front of the society : Companies which involve in CSR activities project a good image of the company in front of the society.
Increase in Sales and profits: As a result of positive image in the society, the sales and the profits of the company improves. This is because public develops a connect with the company involved in CSR activities and thus shows a positive inclination towards such companies.
Attracts skilled and talented workforce : Employees also feel good and proud getting associated with a company having positive image in the market. Thus a talented workforcecan easily be attracted by the company.
Regulatory Authorities become less hostile : As a result of CSR activities , the regulatory authorities do not go for strict scrutinizing of the documents and the firm.
Attracts capital inflow from investors : Investors will have a soft corner towards such firms and get attracted by the positive image of the company.
Clean Environment and public welfare : Through CSR Activities undertaken by the company, public get clean environment and higher prosperity as a result of the welfare activities undertaken by the corporate.
Positive Word Mouth Publicity : It leads to positive publicity of the company.
Cost of CSR Activities to stakeholders
Explanation / Answer
what are some of the benefits of CSR to an organisation's stakeholders (staff, vendors, customers, shareholders, communities and the public at large)? what might some of the cost be to certain stakeholders?