Corporate Social Responsibility Csr Programs - 1348 Words

Nowadays, stakeholders not only care about profits, but pay more attention to company’s actions on environmental, ethical and social aspects, which links to Corporate Social Responsibility program, as these factors may significantly change the fate of a company in a long term (Chan, 2014). According to an article addressed by CSRquest, (2016) Corporate Social Responsibility is how companies manage the business processes to produce an overall positive impact on the society through its interaction with key stakeholders such as employees and customers. Furthermore, CSR is closely linked to globalisation because whether a company has engaged in CSR programs or not has become a decisive factor of engaging in a globalised marketplace, because†¦show more content†¦(Chan, 2014) For example, when donating money to the poor areas becomes a widely known action for a company by the public, which would largely gain potential customers’ attention, it is unsurprising that the company has a good reputation, which leads to increased numbers of consumers with good impressions of the company. According to Better Business Journey, (cited by The Borgen Project, 2013) which is a small business consortium in the United Kingdom, 88% of consumers stated that they were more likely to buy products from the company which caused positive impacts on the society. It is undoubtedly that buying from a company which engages in activities to improve society makes consumers feel more surefooted because of the conscience of mankind, and believe that the products they bought from the company are guaranteed. Furthermore, Chan (2014) illustrated that it was easier for companies with high reputation to attract more talent to work and retain current employees. Also, Kotler and Lee (cited by Chan, 2014) claimed that around 80 percent of people refused to work in company who had bad reputation on its CSR practice while The Cone Corporate Citizenship Study (cited by Chan, 2014) indicated that over 80 percent of Americans are willing to switch to company with positive portrait to the society. Supporting