Topic > To what extent do companies that do good do better?

Since the last decade, corporate social responsibility (CSR) has been integrated into the policy of many companies because it helps to increase a positive social impact on people, the environment and improve the company's reputation. Most entrepreneurs seem to agree that CSR only offers benefits; for example, increasing the differentiation of products that can appeal to consumers, decreasing operational costs in recruiting and retaining employees and reducing turnover costs (The Financial Times). However, companies appear to have a hidden agenda – an underlying financial purpose – behind CSR. For this reason, this essay will point out the contradictions against CSR and argue that companies that practice CSR do not always perform well financially. Corporate responsibility consists of three main aspects to consider: profit, society and environment. A responsible way of managing business does not only mean acting strategically and managing a business ethically, but achieving long-term sustainability. Investing in activities that focus primarily on communities, such as improving the quality of life and developing people's potential, which could also be another interesting option for using CSR to succeed in business. Business and society belong together; If a strong society and people living well come together, of course, this will push the enterprises of that society to move to a better position. Since the business is part of society, it needs the support of consumers. On the other hand, despite the fact that CSR receives a lot of attention globally, it has become a trend in the business world. CSR objectives could be distorted and transformed into a new tool for social marketing. We all know that everything always has...... middle of paper ......CSR ticing (Part 2). CSRI, 6 March 2010. CSR06 (2006). Frequently asked questions: International Conference on Corporate Social Responsibility. Retrieved September 17, 2011, from http://www.csr06.ro/faq.phpThe Economist (2005). The Union of Concerned Managers. The Economist, January 20, 2005.Ferguson, M.A. (2010). Why CSR can't help BP now. Forbes, June 25, 2010. The Financial Times. Business case for corporate social responsibility. Retrieved September 18, 2011, from http://lexicon.ft.com/Term?term=business-case-for-corporate-social-responsibilityLewis, R. (2006). Corporate CSR work fails to enthuse the public. PR Week UK, 8 November 2006. Mesicek, D. (2010). Is corporate social responsibility just a marketing gimmick? Venture Definite, August 6, 2010. Retrieved September 18, 2011, from http://venturedefinite.com/is-corporate-social-responsibility-just-a-marketing-stunt/