Although the main objective for a company is to make money, focusing solely on profitability is not

enough today. Consumers want to embrace and support companies and brands that take stances on
social issues going on in the world. By exercising corporate responsibility, companies can be mindful
of the impact they are having on their communities beyond sales transactions.

Corporate Environmental Responsibility

Pollution and excessive consumption were once considered the costs of doing business for
companies. As environmental issues grew on a global scale, it became more important than ever for
companies to be aware of their contributions to these problems.

Environmentally responsible companies need to analyze their processes and voluntarily do

everything in their power to reduce the environmental impact – especially when it comes to waste
disposal and carbon footprints. Global warming poses a real threat, and corporations bear a large
part of the blame.

Consumers today see it as their responsibility to take actionable steps to address the problem.

Corporate Human Rights Responsibility

Human rights responsibility for companies usually involves enacting fair labor practices, condemning
child labor and establishing fair trade practices

Employees are the core of a company, many consumers maintain that it is on company leadership to
make sure they are treating their employees fairly.

In addition to their own employees, companies must ensure that they are doing business with, are
taking human rights responsibility serious, especially when it comes to child labor

Disney, Mattel and Walmart are a few companies that came under intense scrutiny after it was
revealed that the factory that produces their toys uses child labor.

Corporate Philanthropic Responsibility

Corporate philanthropic responsibility typically involves making investments in the local community,
whether it is for educational programs, scholarship programs, health initiatives or supporting
notable causes in general.

Most corporations choose to donate money to causes that are meant to bring about social change.
Some may choose to attach their brand to the cause, while others may choose to remain entirely in
the background and not take any credit for the money or resources offered.
A good amount of large corporations have in-house departments devoted to coordinating and
managing the company's philanthropic programs and efforts. These corporations will usually have a
few causes that they attach their brand to and commit their resources toward.

Corporate Economic Responsibility

The straightforward truth is that companies that do not make money do not remain in business.
However, consumers today believe that profits should not come at the expense of ethics. Unethical
practices may benefit a company in the short term, but their long-term effects can be disastrous. The
2008 financial crisis is an example of by a few companies creating the worst financial crisis since the
Great Depression.

Economic responsibility for corporations also includes finding and implementing the most efficient
practices for minimizing wasted capital. This may come in the form of new manufacturing processes
that improve efficiency or investing in new equipment.

CONCLUSION

Corporate social responsibility (CSR) encourages businesses accountability to a wide range of

stakeholders, shareholders, and investors. The key are of concerns are the environment
protection, and the social wellbeing of people in society, both now and in the future. CSR has a
variety of policies such as giving to organization, providing products and services to consumers,
reducing harmful waste, and treating their employees with moral ethics.

Corporate social responsibility is the best thing that was implemented into businesses both large
and small, in this was the environment and society can be treated the way it supposed to, with
respect. CSR is something that everyone can benefit from, when businesses adopt its policy.