Corporate Social Responsibility, Accountability & Reporting
Introduction:
In modern society, although there is no general common sense of what constitutes of Corporate Society Responsibility (CSR) and how much of it requires to firms, it is quite necessary for managers to have a better understanding of CSR and carry it out. Similarity, stakeholders also need to know it well. In early research on CSR, it was referred that the firm paid more attention to social responsibility (SR) than CSR (Carroll ,1979). The reason can be that the firm’s dominance in the business has not been noted in that time. Thus, we can find notions of CSR in early age are broad, diverse than current situation. On the other hand, concepts of CSR in current situation are more normative, multi-level and narrow (Daniel, 2007). So we can conclude that the definition of CSR in modern society is the combination of economic effectiveness and social contribution. In fact, different corporations have different notion of CSR, no matter what size it was, so there was no absolute defamation about CSR. At the same time, transparency is quite important for a company which is quite significant for stakeholders as it opens up all its function of the organization for them. If the company focus more attention of transparency, the stakeholder engagement will also improve. Moreover, companies need to disclose the environment reporting to the public, moreover, the company should use the classical model and stakeholder model to explore the economic issue and stakeholder issue, at the same time, analysis challenges that the company may face.
Interpretation of CSR
Different companies have different interpretation of CSR. In other words, big companies and small companies have different understanding of CSR. Silberhorn and Warren (2007) present that CSR as a “comprehensive business strategy”. And firms paying more attention of how CSR interact with stakeholders, meanwhile, focus on how business activities affect the society. For stakeholders, the goal of the corporate
In modern society, although there is no general common sense of what constitutes of Corporate Society Responsibility (CSR) and how much of it requires to firms, it is quite necessary for managers to have a better understanding of CSR and carry it out. Similarity, stakeholders also need to know it well. In early research on CSR, it was referred that the firm paid more attention to social responsibility (SR) than CSR (Carroll ,1979). The reason can be that the firm’s dominance in the business has not been noted in that time. Thus, we can find notions of CSR in early age are broad, diverse than current situation. On the other hand, concepts of CSR in current situation are more normative, multi-level and narrow (Daniel, 2007). So we can conclude that the definition of CSR in modern society is the combination of economic effectiveness and social contribution. In fact, different corporations have different notion of CSR, no matter what size it was, so there was no absolute defamation about CSR. At the same time, transparency is quite important for a company which is quite significant for stakeholders as it opens up all its function of the organization for them. If the company focus more attention of transparency, the stakeholder engagement will also improve. Moreover, companies need to disclose the environment reporting to the public, moreover, the company should use the classical model and stakeholder model to explore the economic issue and stakeholder issue, at the same time, analysis challenges that the company may face.
Interpretation of CSR
Different companies have different interpretation of CSR. In other words, big companies and small companies have different understanding of CSR. Silberhorn and Warren (2007) present that CSR as a “comprehensive business strategy”. And firms paying more attention of how CSR interact with stakeholders, meanwhile, focus on how business activities affect the society. For stakeholders, the goal of the corporate