Corporate Social Responsibility
Zafar, Sonia R.
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The purpose of this study is to take a closer look at the debate about corporate social responsibility (CSR) and the emerging importance of such initiatives in the modem business environment. This study sought to answer the question of whether corporate social responsibility is an attainable goal or not? In addition, this study sought to determine whether corporate social responsibility produces tangible benefits for a firm. This study uses examples of businesses such as Wal-Mart, Shell, McDonalds, and British Petroleum to illustrate how implementations of CSR initiatives enhance a company's financial and non-financial metrics. The study also examines reasons why socially responsible companies fail to uphold their standards. This topic is important because CSR is emerging as a new trend in the way firms do business. Research for this project consulted books written upon ethics, articles published about this issue, financial statements of companies who employ social responsibility programs as we\! as thoughts and insights from various scholars on the subject. The study determines therefore, that corporate social responsibility is antithetical to the nature of business and demands significant sacrifices from a firm's profitability. In addition, CSR is used merely as a PR tool and does not deliver the results it promises. Therefore, businesses should focus on core operations to minimize the damage caused to society and maximize shareholder wealth.