Business are complex pieces in e social ecosystem, bo impacted by and impacting a wide variety of groups in e external environment. As a leader or manager at an organization, understanding bo internal and external stakeholder needs is a central responsibility. isions should be made in a way at ensures all stakeholders are considered. Stakeholders and Corporate Social Responsibility History Sparked by e labor movement, e concept of Corporate Social Responsibility (CSR) has only been in existence since e 1950’s. Society began to expect companies to accept additional social responsibilities outside of e fundamental business . 25, · Being a socially responsible company can bolster a company's image and build its brand. Social responsibility empowers employees to leverage e corporate resources at eir disposal to do good. Being a responsible business is integral to our success, and at of e customers, clients, shareholders and communities we serve around e world. Corporate Social Responsibility (CSR) is embedded in our values and informs how we conduct business, develop products and services and deliver on our goals and commitments. 30, · Social responsibility is voluntary. it is about going above and beyond what is called for by e law (legal responsibility). Social responsibility means eliminating corrupt, irresponsible or une ical behavior at might bring harm to e community, its people, or e environment before e behavior happens. e shareholders, suppliers of resources, e consumers, e local . As part of our series of blogs on key stakeholders in a private company limited by shares, such as e Company Director, we will now look at e role of e shareholder.. Whilst a company amend e roles fulfilled by directors and shareholders in eir constitution or articles, is blog focuses on e standard company articles (in accordance wi e UK Companies Act 2006 and e Irish. 22, · Pursuing social responsibility should not be at odds wi maximizing shareholder value. DOW JONES, A NEWS CORP COMPANY News Corp is . 15, · e drine states at e only social responsibility of a business is to maximize its profitability to benefit its shareholders while observing laws of e community in which it operates. None eless, under e economic model school of ought, society will eventually benefit from e success of a business organization. Shareholder Responsibility Owners. e owners of a corporation are called e stockholders or shareholders. Shares of stock represent ownership wi in a Corporation. Serve. e law gives shareholders e right to ide who will serve on e board of directors and e right to receive dividends when e corporation makes a profit. Electing. Responsibilities tod Stakeholders Placing its Corporate Policy—A Corporation in Step wi e World, and A Corporation needed by Society — at e foundation of all its activities, e Yazaki Group has been striving to contribute to e development of. Corporate Social Responsib ility (CSR) is an organisation’s obligation to maximize positive stakeholder benefits while minimizing e negative effects of its actions. It is e idea at businesses and o er organisations occupy a significant space in society and at responsibilities are not owed only to . Social Responsibility of a Business. A business enterprise is an important part of e society and it should do its operations and earn money in ways at satisfy e expectations of e society. Social responsibility of a business refers to e obligations to take ose isions and perform ose actions which are desirable in terms of e objectives and values of society. Responsibilities tods Shareholders. Shareholders are investors of a corporation. China Telecom insists on carrying out robust operations, striving to honour its commitment to shareholders rough achieving excellent operating results and continuously enhancing its corporate values. 17, · Corporate social responsibility is a broad concept at can take many forms depending on e company and industry. rough CSR programs, philan ropy, and . Corporate responsibility is e way a company takes responsibility for its actions and eir impact on employees, stakeholders and communities.. It includes e way your company conducts its business, how it manages its impact on e environment, how it treats its employees and how it supports community activities at aim to solve social problems such as poverty or discrimination. Shareholders and Social Responsibility Brian P. Schaefer ABSTPJVCT. e article presents an analysis and cri tique of Milton Friedman's argument at e social responsibility of business is merely to increase its profits. e analysis uncovers a central claim at Friedman im plies, but does not explicitly defend, namely at e. Feb 21, · Microsoft Corporation’s corporate social responsibility (CSR) strategy is founded on a number of international concerns regarding e computer harde and softe business. Archie Carroll developed e corporate social responsibility model to highlight e mutual influence among stakeholders and businesses. (Crane.., et al 2008) social and economic is defined as what benefits can social alignment bring to e company. While CSR be about having a narrow focus on impressing e shareholders and raising eir profit, however some believe it should not affect e profitability of e business. From a business e ics perspective, one can argue at being e owners, e shareholders of a company are indeed in charge of e social responsibility of e firm (Schaefer 2008). Following. 16, ·. VINAYAKAN V ROLL NO 43 ICM PARASSINIKADAVU. 2. Social responsibility contends at management is responsible to e organization itself and to all e interest groups wi which it interacts. O er interest groups such as workers, customers, creditors, suppliers, government and society in general placed essentially equal wi shareholders. 3. e responsibility of business . It is e responsibility of e shareholders to appoint corporation officers to help in e running of e business. Shareholders elect directors during annual general meetings. ese directors constitute a board at is charged wi e responsibility for e overall management of e company. N.R. Narayana, Chairman of Infosys makes e idea of social responsibility of business quite clear when in a conference on corporate social responsibility he said, Corporate’s foremost social responsibility is to create maximum shareholders’ value working in a way which is fair to all its stakeholders — workers, consumers, e community, government and e environment He fur er points out. . e Responsibilities of e Shareholders. Any public limited or private limited company has shareholders who contribute capital tods e setting up and running of e company. While in e case of private limited companies, e shareholders are usually e promoters and a few close friends or family, e public limited companies have a large body of shareholders drawn from all walks of life. A longstanding e ical debate about corporate social responsibility asks whe er, in fact, a corporation owes a duty to society or only to its shareholders. e line of important court cases shaping is issue spans almost a century and includes a series of land k cases involving e Ford Motor Company, e Wrigley Company, and Hobby Lobby. 15, · Corporate social responsibility (CSR) became popular during e 1980’s and has continued to remain a pillar of corporate structure. Gulf Coast Environmental Systems serves as an integral part of many organizations wi pollution control as a component of eir CSR policy. In is article we will review how to develop a CSR, e advantages and disadvantages of publishing a CSR . 07, · Below are e four social responsibilities of a business:. Economic responsibility of a business. e most basic responsibility of a business organisation is to maximise its profitability not only to attend to e interests of its shareholders but also to contribute to e progress of e economy. Let us go rough some social responsibilities of an organization tods its customers. Treat your customers as kings and do not ink of em only when you have a pressure to meet your targets wi in e stipulated time frame. us, it is important to know e business responsibilities to stakeholders. Definitely, e company has responsibilities tods stakeholders in order to maintain a working and equitable balance. It is e responsibility of e business firm to ensure at e stakeholders are satisfied wi e business structures and objectives. 01, · Responsibilities a Business Owner Has to Its Stakeholder Groups. Being a business owner brings more responsibilities an you might imagine. While your goal is to earn money for you and o er owners of e business, you have customers, community members, suppliers, employees and business partners who have needs. 11, · McDonalds appear to have realised e importance of creating shareholder value and by changing to heal ier menus it was clear to em at while eir customers enjoyed e food, ere was a need to take some responsibility tods heal issues, despite e 1997 court ruling. 23, · Corporate Social Responsibility: Meaning, Definitions, Scope, Types, Challenges, Advantages and Limitations Corporate Social Responsibility (CSR) – Scope, Limitations and Social Cost Benefit Analysis (Wi Indicators of Social Desirability of a Project) CSR denotes e way e companies integrate e general, social, environmental and economic concerns of e society into . 09, · Question 9. Describe e obligations of business tods owners and shareholders. Answer: Social responsibility of business tods its shareholders or investors is most important of all o er obligations. If a business satisfies its investors, ey are likely to invest more money in a project. 24, · Shareholders voted in favour of each of e items of business before e Meeting, including e election of e director nominees listed in e Company's management information circular. Arising out of eir social responsibility tods e community and public at large, businessmen are expected to maintain a balance between e needs of business and e requirements of society. In general, business should be so managed as to make e public good become e private good of e enterprise ra er an e old drine at. Explain e social responsibility of commercial organisation tods employee and shareholders? Definition: H.R.BOWEN defines Social responsibility of business refers to e obligation of business to pursue ose policies, to make ose isions, or to follow ose lines of actions, which are desirable in terms of objectives and values of.