Corporate Social Responsibility and Corporate Governance Research Paper

Corporate Social Responsibility and Corporate Governance - Research Paper ExampleCSR- related policies function as built-in, mechanisms through which the profession evaluates and ensures that it operates actively in compliance with ethical standards, the law, and international expectations. As such, CRS activities are supposed to impact the stakeholders, environment, communities, consumers, employees and the overall public sphere positively. There are a number of goals that drive businesses into engaging in corporal citizenship. However, the key objective of the activity relates to the establishment of sustainable businesses, which, in fact, need healthy communities, markets, and economies. Some of the drivers of corporate social responsibility include enlightened self-interest, social investment, trust and transparency, and increased expectations of enterprises by the public according to ASOCIO (2004). There are various approaches that corporate entities lot take in regard to soc ial responsibility. While for example, some will opt for philanthropy, others will opt for a community-based development approach. Yet again, others will elect to go the Creating Shared Value (CSV) way. Whichever method or approach is assumed, however, the organization somehow commits some of its resources for the good of other parties as earlier mentioned. Research on corporate social responsibility (CSR) has blossomed in the 21st century. There is also an increased interest in the topic by different firms and people as seen in table 1. This is attributed to various factors like pressure exerted on organizations to demonstrate high ethical standards and the increasing concern about CSR expressed by policymakers. Firms from create countries are driven by heightened demands on forms exporting to their products to Europe and other western countries do document their compliance to high ethical standards so as to be competitive. Generally, various organizations develop and express CSR because of various factors that can be summarised as internal and external factors. In this paper, three international companies namely Monsanto familiarity, Microsoft Corporation, and Coca-Cola Company will be used to illustrate the various arguments. All the three companies already have a CRS in place. Why International firms are cover increasing interests in corporate social responsibility and corporate governance There are internal and external factors that are making or propel international firms to show increasing interests in CSR and corporate governance. Internal factors include managers, shareholders, employees, customers, and suppliers while external factors include social, economic, cultural, legal/government regulations, technological, global standard and nongovernment organizations. scotch and Social factors Researchers have given a special attention to the connection between CSR and the financial performance of an organization.