The Truth About Corporate Social Responsibility

Subject: Business Ethics
Pages: 4
Words: 835
Reading time:
4 min
Study level: Master

Introduction

The article “The Truth About CSR” by Kasturi Rangan, Sohel Karim, and Lisa Chase explains why companies should design appropriate CSR that support their business models. This review focuses on the best approaches to dress Corporate Social Responsibility (CSR) as vital business tool. The targeted article supports the importance of coordination and collaboration with different stakeholders (Rangan, Chase, and Karim 42). The article goes further to explain why CSR should be connected with every organizational initiative. This review supports the fact that the article is masterpiece that can be used to redefine CSR.

Background Information

Corporate environmental and social responsibility is a practice that is embraced by many companies in the world. The ultimate goal of the practice is to improve the wellbeing of different communities that support a firm’s business model. However, many firms have CSR portfolios that fail to support their business purposes and values. The article indicates that many CSR strategies are hampered by “poor coordination and inability to connect with various programs” (Rangan et al. 42). This discussion will examine the role of CSR towards supporting the goals of many corporations.

Summary

The authors begin by arguing that the CSR initiatives embraced by many corporations lack adequate coordination. Some CEOs also fail to be part of the CSR agenda. Consequently, such companies find it hard to maximize their business outcomes. Companies embracing such disparate approaches to CSR fail to achieve the desirable social responsibility objectives (Rangan et al. 42). The authors go further to present specific solutions that can address the problem. The three steps proposed in the article include a positive philosophy, effectiveness of different operations, and transformation of a company’s model (Rangan et al. 43). Such efforts will ensure the “new CSR has the potential to create shared value” (Rangan et al. 43).

Corporations should design new CSR strategies that are aligned with their values and business purposes. The programs should also “be coordinated and supported by an interdisciplinary management team” (Rangan et al. 43). The effort will play a positive role towards driving the firm’s CSR strategy. That being the case, the article encourages business leaders to emulate the CSR strategies of successful firms (Rangan et al. 49). Such leaders will ensure their corporations have coordinated and interdependent business programs. The ultimate goal is to ensure CSR portfolios are aligned to the values and purpose of the targeted firm. The strategy will ensure the CSR agenda addresses the needs of the targeted societies.

Evaluation

The authors have achieved their goals by presenting meaningful approaches that can be used to align a company’s CSR with its core values. The article presents three key approaches towards redefining the role of CSR. Evidences from successful companies are presented to support the argument. The article indicates clearly that companies that align their CSR initiatives and business values will realize their goals much faster (Beal 28). The central lesson gained from the article is that firms should design appropriate CSR portfolios guided by their values and goals. Such firms should develop better ways to measure the success of every CSR initiative (Filho et al. 12). Powerful teams characterized by competent people should be designed in order to drive every company’s CSR strategy (Rajak 22).

Several strengths explain why more people should read it. To begin with, the article identifies a unique gap that has been ignored by many companies. The article goes further to present an effective action plan towards supporting the CSR initiatives of many companies. The strategic plan can make it easier for more firms to achieve their potentials while at the same supporting the needs of different communities (Rosen-Zvi 536). The arguments are supported using concrete evidences from various successful companies. I strongly believe that the article does not have any weakness. The arguments presented by the author can be applied in different business settings (Rangan et al. 46). As an employee, I have observed that our organization treats CSR as an integral attribute of its business model. This approach explains why more customers and stakeholders support the company’s business objectives.

Conclusion

In conclusion, the ideas presented in this article have the potential to transform the performance of many companies. This is true because the CSR concept has the potential to improve a firm’s shared values and goals. The authors encourage managers in an organization to develop multidisciplinary teams in an attempt to drive the targeted CSR strategy. Stakeholders should also be informed about the initiatives undertaken to create the most desirable business model. The arguments presented in the article are meaningful and applicable in different settings. Future scholars should analyze the benefits of aligning a company’s CSR strategy with its business goals (Rangan et al. 48). Such studies will present new arguments to support the ideas described in this article. This study is relevant towards transforming the performance of many transnational and local corporations (Broomhill 22). I am also planning to read more articles and books in order to identify new strategies that can make our company successful.

Works Cited

Beal, Brent. Corporate Social Responsibility: Definition, Core Issues, and Recent Developments, New York: Sage, 2013. Print.

Broomhill, Ray. “Corporate Social Responsibility: Key Issues and Debates.” Dunstan Papers 1.1 (2007): 1-31. Print.

Filho, Jose, Lilian Wanderley, Carla Gomez and Francisca Farache. “Strategic Corporate Social Responsibility Management for Competitive Advantage.” Brazilian Administration Review 1.1 (2010): 1-16. Print.

Rajak, Dinah. Corporate Social Responsibility: Definition, Core Issues, and Recent Developments, Stanford: Stanford University Press, 2011. Print.

Rangan, Kasturi, Lisa Chase and Sohel Karim. “The Truth About CSR.” Harvard Business Review 1.1 (2015): 41-50. Print.

Rosen-Zvi, Issachar. “You Are Too Soft: What Can Corporate Social Responsibility Do For Climate Change?” Minnesota Journal of Law, Science & Technology 12.2 (2012): 527-572. Print.