Is it ethical for companies to benefit from their efforts to

Is it ethical for companies to benefit from their efforts to practice corporate social responsibility?

Is it ethical for companies to benefit from their efforts to practice corporate social responsibility?

Why or why not?

How can anyone be sure that CSR efforts aren’t just public relations ploys?

Please make sure information is original with no copied information and please provide at least 1 APA style reference

Solution

Yes.

The objective of the firm/corporate is to maximize returns for all its stakeholders. here stakeholders includes government, equity holder, employees, society, cutomers etc. Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. Considered at the organisational level, CSR is an organisational policy. As such, it must align with and be integrated into a business model to be successful. With some models, a firm\'s implementation of CSR goes beyond compliance with regulatory requirements, and engages in \"actions that appear to further some social good, beyond the interests of the firm and that which is required by law\" ¹. hence by investing in social resposibilties, corporates can send a strong message to its customers about the involvement of the firm in social responsibility and create attention. for example. P&G on its retail products claim its invesment in NGO\'s specifialy in developing regionsof Africa and Asia and claim social resposibility at global level and earn global brand label.

One can be sure that CSR efforts arent jusr public relations ploy, by developing internal and external policies for CSR investments. corporates can develop indicators in terms of lives helped, carbon prints, pollution prints etc whithin the policies to make sure that CSR efforts aren’t just public relations ploys.

(1). McWilliams, Abagail; Siegel, Donald (2001). \"Corporate social responsibility: A theory of the firm perspective\". Academy of Management Review.