Corporate Social Responsibility (CSR) is a moral and ethical responsibility that companies have to their stakeholders, including employees, customers, shareholders, and the environment. While it has been around since the 1980s when it was coined by John Ruggie in his paper “United Nations Framework Convention on Corporate Social Responsibility,” CSR has only begun to take hold in recent years. The public opinion of CSR varies depending on who you talk to; some believe that CSR is nothing more than an attempt by corporations to clean up their image while others see it as a way for businesses and society to work together collaboratively.
Essay Sample On Disadvantage of Corporate Social Responsibilities (CSR)
Introduction – Disadvantage of CSR
Corporate Social Responsibility (CSR) is a kind of agreement between the business and the public, which avails some benefits for both of them. It’s better to say that CSR reflects the awareness of an organization about its social responsibilities and its desire to be accountable for how it does things in society. In this respect, every business wants financial success too, but sometimes they give priority to their interests instead of concerns about society. Nevertheless, CSR wants to transform these negative aspects of the businesses into positive acts so that they can get rid of these disadvantages.
Main Essay Body – Disadvantage of CSR
Why corporate are asked to play a social responsibility?
The main reason behind forcing the corporate to play a good social responsibility is to stop them from committing any harm to the environment. At the same time, most of the corporate companies do not bother about society and manufacture products that can harm the people. For example, a company involved in the manufacturing of food product do not bother to add harmful preservatives to keep the stuff fresh for a long time. So such malpractices can be put to an end with the help of corporate social responsibility very easily
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Major disadvantages of corporate social responsibility
Apart from the benefits of corporate social responsibility to the society and environment, it put a lot of pressure on the corporate. Sometimes they even undergo financial crises as a big part of the profit goes out in the social responsibilities. Here are few facts cited below regarding corporate social responsibility that can help you to understand the problems of corporate while playing corporate responsibility.
Big dent on the treasure of corporate
It is not that easy to cope up with the plans of environmental protection while running a petrochemical industry. New technology and equipment are required to minimize the effects of chemicals on the environment. At the same time when companies have to play a significant role for society they cannot sell adulated and chemical stuff preservative goods to customers. As a result of which a lot of harm is experienced by the business on financial grounds.
A reduction in professionalism due to delay in projects completion
There is an old saying that when we try to ride on two boats simultaneously it is sure that we are going to sink. Similar is the case experienced by the corporate when they are playing their social responsibility and at the same time focus on business plans. In managing the two aspects sometimes there occurs a delay in the completion of business projects on deadline. As a result of which the poor reputation is established among the clients in the business market. This is another big disadvantage of corporate social responsibility on the businessmen.
Lowering in the profit of the corporate
When a business loses its sheen in the market owing to unprofessional behavior and failure to meet deadlines, it gets hard to fetch a project. As a consequence of the earning of the profit for the company gets compromised. Most of the businessmen who are running startup companies are very much affected by corporate social responsibility and financial crises or bankruptcy is very common to these corporations. It is very important to maintain a balance between social responsibility and business to grow smoothly in the business market. Those who fail to do so have to kiss the dust eventually.
Internal upheavals among human resources of the corporate
When you will exert extra pressure on the employees of your company to handle both business work and social responsibility they will get disgusted. An internal cold war can also arise daily between the employees which eventually destroys the peace of the workplace. In such a place, it is very hard to execute the business plants normally. That is why it should be kept in mind that whatever is the situation you have to keep the internal stability intact in all cases. That is how you can save your business from getting crumbled
Waste of time in arranging a meeting to execute plans for social responsibility
It is a very important thing to note down that a lot of time gets destroyed in making the plans and strategies for their execution for social responsibility. As a result of which it gets problematic to focus on the business which is slipping rapidly from the hands of businessmen. The businessmen whose main motive is to maximize their profit cannot afford to devote such a big-time in doing social work and thus experience a bent in their business. Also, the plants and policies need to be discussed with the shareholders and against wastage of time in conducting conferences every other day
A feeling of disgust among the financers and shareholders of the corporate
When a business is not earning any kind of profit it becomes very disappointing for those who have invested money in the given business. For example, shareholders start showing their feeling of disgust towards the businessmen owing to the poor profit. In some cases, even shareholders withdraw their investment share from the company to get a partnership with the rival businessmen. Thus a big slap on the business and financial crises is experienced by the businessmen.
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Corporate social responsibility (CSR) is a company’s commitment to behave ethically and contribute positively to society, taking into account the interests of its employees, customers, shareholders, and the communities in which it operates. One disadvantage of CSR is that it can be costly for companies. The other disadvantages are that CSR may not always be profitable or sustainable for companies to implement, thus affecting their bottom line; organizations with limited resources may not have enough time or financial capacity to take on additional responsibilities, and CSRs often come at the expense of short-term profits because they require expenses upfront while benefits are seen later.
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