Trends in Corporate Social Responsibility
Trends in Corporate Social Responsibility
In the modern business environment, corporate social responsibility is characterized by numerous trends. Whereas some companies have already begun to implement these trends, others are set to characterize the practice of CSR in the future. It is thus pertinent to examine the prevailing trends in corporate social responsibility. Firstly, transparency has become one of the most significant issues in CSR. While developing frameworks for CSR, companies in the modern business environment seek to maintain transparency (Schwartz, 2011). This is largely because of the extensive scrutiny of customers and government regulatory frameworks.
Apart from transparency, another outstanding trend in CSR is the emphasis on human rights. The society expects corporate entities to perform their business activities in a framework that recognizes fundamental human rights. Consequently, business organizations must establish CSR strategies that prioritize the basic rights of all people. The third outstanding trend in corporate social responsibility is environmental sustainability. The globe has been experiencing significant challenges in terms of environmental degradation (Carroll, 2011). Aspects such as climate change have become clichés but they are real. Considering the input of anthropogenic activities towards the different environmental challenges, companies must promote clean development mechanisms. This is an integral component of CSR because organizations must contribute towards environmental sustainability.
Another notable trend in corporate social responsibility pertains to social media. More than 1 billion people are frequent users of the major social networking sites. The social media wave has also caught up with corporate social responsibility (Hopkins, 2012). Corporate entities can no longer ignore the influence of social media on their performance. Consequently, companies establish comprehensive guidelines for engaging with social media. All these perspectives highlight the most essential CSR trends in the modern corporate world.
References
Carroll, A. B. (2011). Business and society: Ethics and stakeholder management. Mason,OH: South-Western
Hopkins, M. (2012). Corporate social responsibility and international development. New York, NY: Routledge
Schwartz, M. S. (2011). Corporate social responsibility: An ethical Approach. Buffalo,NY: Broadview Press
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