Corporate social responsibility

Seminar paper from the year 2005 in the subject Organisation and administration - Miscellaneous, grade: 1,3, University of applied sciences, Neuss, course: Marketing, language: English, abstract: 'Corporate Social Responsibility', or CSR for short, is the buzzword for company's voluntary initiatives involving a number of various activities and company's programs. But the question is what does Corporate Social Responsibility really means and how is it implemented in German companies? Expectations are growing as the public at large and, increasingly, the financial markets want to know not just what a company does with its profits, but also how it earns them. This assignment examines first in what extend ethical aspects are an essential condition for the justification of Corporate Social Responsibility. Therefore the basic aspects of CSR and the paradigms to ethics will be discussed in the first part. Afterwards before examining the situation of CSR in the German businesses landscape, the main elements to build up a program focussing on social responsibility will be listed. Then with the insight of what drives a CSR program, the question how is it implemented in German companies in order to meet stakeholders expectations will be answered. Several surveys conducted by agencies and the German ministry will be the basis for an objective reflection of the situation in Germany and illustrating the variety of initiatives and commitments. Final regards on the problems and risks connected with Corporate Social Responsibility are mentioned to close up the study. If you follow the literature and daily press, marketers are verifying their relationships with social values and responsibilities. Philip Kotler is pointing out in his 'Principles of Marketing' that 'as the worldwide consumerism and environmentalism movements mature, today's marketers are being called upon to take greater responsibility for the social and environmental impact of their actions.' Demands in corporate ethics and social responsibility have become important topics for the companies. Only few companies can ignore this demanding change, but are being forced to take action when authorities and the public are claiming. More forward-looking businesses readily accept their role and seek ways to best serve the interests of their customer and communities. They are building social responsibility and action into their company goals and with that approach, they include concerns for individual and community welfare in their daily decisions.