It is in this response that the use of Corporate Social Responsibility (CSR) has emerged to be one of the inescapable top priorities for various business leaders or managers all over the globe.
However, the fact remains that many current approaches to Corporate Social Responsibility are quite disconnected from the initial strategy of various companies or firms using it.
Most also have to comply with external regulations or laws governing their industry or sector.
1.0 Introduction: Corporate Social Responsibility means the way in which business firms integrate environmental, economic and social concerns into their culture, values, strategy, decision making and operations in an accountable and transparent manner and, therefore, leading to better creation of wealth, an improved society and better Activists, the media and governments all over the world have become adept by holding their organizations or enterprises to account for the social impacts of their actions.
(2.3) How CSR enhances the reputation of various business enterprises: According to the article by the Harvard Law School on Financial Regulation and Corporate governance, it was ascertained that activities, which were related, to Corporate Social Responsibility had a greater potential in the creation of various forms of value which were distinct to the customers.
It was through the perception of customers towards this value that can mediate the relationship between a company’s CSR activities and its subsequent performance in finance.
Corporate Governance: According to the Business Development Bank of Canada, corporate governance "is the practice of ensuring a corporation conducts itself accountably, fairly and openly in all its dealings.
It is the responsibility of a company’s board of directors.
Surveys are the best research methods that can be used in the exploratory or empirical research in business studies and in Corporate Social Responsibility.
In order to obtain research results, some specific group of people, like for instance business leaders or managers tasked with the responsibility of adopting CSR in an organization can be interviewed or given questionnaires.