Value of Corporate Social Responsibility

Question: Discuss about the Value of Corporate Social Responsibility. Answer: Introduction: It would be correct to say that Corporate Social Responsibility (CSR) is a multidimensional concept addressing a range of social, cultural, ethical, economic and political concerns (Truong, 2011). In the current economic and business environment, CSR (Corporate Social responsibility) has emerged as a critical business function. The organizations have felt the need of integration between CSR and HRM function. The main objective of HRM function is to bring all the stakeholders together and CSR is a critical step in this (Kymal, 2014). The HR practices like planning, organizing, employee engagement would have a role to play in broad level CSR policies as good level of CSR policies depend on the way employees are engaged and utilized. Today, organizations have realized that the emphasis on CSR is the path to attain the objectives of sustainable development (Shen, 2011). Therefore, the large and multinational organizations have started to have the organizational design that supports CSR. Beckman (2009) argued that regardless of the model used, the organizational design must use a model that concurrently utilizes information systems design and work place design due to the models evolving over time and as the needs of businesses have changed (Beckman, 2009). It is observed that the large and multinational organizations are able to focus more on CSR practices as compared to the small and mid-size organizations. Google Inc. is one such company that has a strong policy of CSR (Woodrow, 2012). The management of Google Inc. has realized the role of various internal and external stakeholders to uphold the values of corporate social responsibility. The management of Google Inc. has been able to realize various tangible and intangible benefits of dedicated CSR policies (Yang, 2013). One of the tangible benefits of CSR policies for Google Inc. is an increase in the organizational revenue. The focus on CSR and sustainable development has helped Google Inc. to have a good rapport with consumers and eventually it has increased the revenue and profitability of the company. There are various indirect or intangible benefits of CSR for Google Inc. For example, Google Inc. has observed an improvement in the employee satisfaction index with the focus on C SR policies (Greenwood, 2002). The company is able to have a good relationship with various internal and external stakeholders. There are also various tangible and intangible costs of CSR polices that Google Inc. has to absorb. For example, the company has to make various monetary investments to implement the strategies and policies of CSR. The shareholders of the company directly absorb the monetary cost (Ferguson, 2016). However, the cost-benefit analysis of CSR suggests that the benefits if CSR outweighs the costs of CSR. The focus on CSR policies has been beneficial for both internal and external stakeholders of the company (Igalens, 2011). With various CSR polices and strategies, Google Inc. has been able to increase the motivation level of employees and the motivation level of employees is directly linked to the productivity level of employees. Therefore, Google Inc. has witnessed an overall organizational improvement with the focus in CSR policies and strategies. References Aksak, E.O., Ferguson, M.A. and Duman, S.A., 2016. Corporate social responsibility and CSR fit as predictors of corporate reputation: A global perspective.Public Relations Review,42(1), pp.79-81. Beckman, S. L. (2009). Introduction to a Symposium on Organizational Design. California Management Review, 51(4), 6-10. Caldwell, C., Truong, D., Linh, P. Tuan, A. (2011) Strategic human resource management as ethical stewardship, Journal of Business Ethics, 98 (1), pp.171-182. Gond, J.P., Igalens, J., Swaen, V. El Akremi, A. (2011) The human resources contribution to responsible leadership: an exploration of the CSR-HR interface, Journal of Business Ethics, 98, pp.115-132. Greenwood, M.R. (2002) Ethics and HRM: a review and conceptual analysis, Journal of Business Ethics, 36 (3), pp.261-278. Guest, D. Woodrow, C. (2012) Exploring the boundaries of human resource managers responsibilities, Journal of Business Ethics, 111 (1), pp.109-119. Shen, J. (2011) Developing the concept of socially responsible international human resource management, International Journal of Human Resource Management, 22 (6), pp.1351-1363. Visser, W. and Kymal, C., 2014. Creating Integrated Value: Beyond CSR and CSV to CIV.Available at SSRN 2522987. Yang, N., Colvin, C. Yim-Yu, W. (2013) Navigating corporate social responsibility components and strategic options: the IHR perspective, Academy of Strategic Management Journal, 12 (1), pp.39-58.