Corporate Social Reporting Essay Example | Topics and Well Written Essays - 1000 words

Corporate Social Reporting - sample ExampleCompanies that embrace corporate affable responsibility take on received long-term positive benefits. These entangle better workings conditions, which in turn increases productivity and innovation, increased trust and enhanced reputation with stakeholders and great customer devotion. Businesses also receive better publicity through media reports. Indeed, staff turnover in companies such(prenominal) as Starbucks and Bettys and Taylors is low. In the latter, its philanthropic ways extend wholly the way to the employees, who have seen improvements in working relations and strong ties are developed with suppliers that not only certify quality in their produce, and also ensure these produce are grown in a socially responsible bearing (10). On the contrary, pressure groups are making their presence known. In 1995, Royal Dutch/Shell suffered invalidating publicity as well as heavy losses when European boycotted them in their bid to tur n out an oil platform at sea (3). Evidently, the business practice of being socially responsible is passing preferred.In a study on the power and size of firms, there are loopholes present in baseer organizations that, for instance, violate legal rights of workers in cleaning subcontractors. Although this issue is not uncommon with the larger firms, it is plunge that they exercise greater care as their business is reliant on the state (9). However, in some other study, it is found that both small and large firms are likely to participate in corporate social responsibility moves based on their visibility, resource access and scale of operations (4). The two studies are sooner conflicting evidence of how corporate social responsibility is adopted by firms of different sizes. Perhaps, a small business operating locally is not as likely to be subject to public interrogatory compared to a larger one operating globally. Larger organizations are embracing this practice far to a greate r extent, which gives them a competitive advantage as the stakeholders they affect are wider. Furthermore, they are able to attract younger talents who yearns more than fat remuneration packages (8). Small businesses, on the other hand, are driven to embrace this practice because note is their key reliance. With this strategic foresight, they are able to find opportunities in a growing market (2).However, these all boils down to management decision on whether to embrace this philosophy or not.2.3 The profitability strength of businesses that uses CSRAs mentioned earlier, companies that adopt corporate social responsibility receive better recognition than those who do not. Customer loyalty and consumer trust are key points in sustaining a business as evident in the physical structure Shop. Smaller firms practising CSR are a great target for acquisition even though there have been no drastic change in their combined earnings or improvements in the way they slabber out their busines s in terms of being socially responsible. Although consumers are looking for healthier options when acquire products, it is found that only a handful will actually pay a premium for such