Elgar original reference
Edited by Ronald Paul Hill and Ryan Langan
Chapter 11: Corporate social responsibility: a look at Eastern nations
Corporate social responsibility (CSR) programs have become a centerpiece within many firms. Some have adopted these programs as part of their core mission, while others have used them to supplement community outreach. As many consumers around the globe have become more socially conscious, the decisions made by firms have at times been influenced by the desires of socially conscious consumers. CSR programs often exist for one of two reasons. First, some firms believe that being socially responsible is a necessary part of doing business in terms of public perceptions. This lessens perceptions that a firm is ‘overbearing’ in the eyes of its consumers and other members of society. Here, firms feel that they must engage in CSR whether they think doing so helps meet financial goals or not. Second, some firms believe that CSR is good for business. Firms that promote their socially conscious business practices do so in part because they believe that this will lead to positive feelings about the firm or brand, which will be used as a revenue driver. The latter reason is being studied extensively by researchers and firms alike, to determine if socially conscious business practices really help to increase revenue and, ultimately, earnings.
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