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    Importance of Corporate Social Responsibility for the Success

    University: The University of Queensland

    • Unit No: 2
    • Level: Post Graduate/University
    • Pages: 8 / Words 2071
    • Paper Type: Essay
    • Course Code: LAWS7975
    • Downloads: 255
    Question :

    Project- Essay

    By using relevant examples, do a critical evaluation of the role and importance of CSR in the business organization. Also as a section of an evaluation, do an analysis of how the CSR policy of an organization impacts its corporate tax and investment decision.

    Answer :

    INTRODUCTION

    Corporate social responsibilities refers to how the organisation manages their business activities in such a way that they can provides the positive impact on the society. It includes social ethics, impact and sustainability so the business focuses to make the better society. It is a type off social business which aims to goals and objectives of society. This report determine the roles and effectiveness of CSR in the companies. This file evaluates that how the policy of company will affects the investment decision and corporate tax. Different strategies of CSR is adopted by the companies are explained in this report. The success and growth of company is possible when they using the different policies of CSR in their business activities.

    MAIN BODY

    Corporate social responsibilities states that an organisation operates their business activities in the most ethical and sustainable manner. By using the different strategy of CSR an organisation also deals with the different aspects of environmental and social. It is the effective evaluation of human rights, environment, community and society in which the company operates their business operation. The success and growth of the business only depends on the responsibilities of society and practices which is used by business that must be ethical. For example if the company will uses the different strategies of CSR in their business it will increases the image of company in front of the customer (Grayson and Hodges, 2017). In the current days every organisation focuses to achieve the success of the business and the strategies of CSR will maintain the good reputation of the brand. Every customer will analysis the image of the company when they are going to purchase any kind of products and services. So the there are the wide role of CSR in the success and growth of the company as per the future and present condition of the market.

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    With the help of corporate social responsibilities in the business each and every members will contribute their effort towards the society, environment and country. For example organisation will make their effective efforts by providing education to the poor children in the villagers which improve the image of the business. Every organisation have to make sure the importance of environment and society while they are manufacturing the different products and services in the market (Crane, Matten and Spence, 2019). Different policies of CSR will helps the business to get the success and growth because good image will leads to the future growth.

    The company changes their policy by focusing on the sustainability will saves the cost of business. For example in the production of products and services company uses less packaging and less energy which will reduces the production cost of the business. Sustainable business will gives advantage to the environment and business both (Lins, Servaes and Tamayo, 2017). This is also the part of success and growth in future. Socially responsible organisation maintain the positive and effective recognition of brand, increases the loyalty of the customer and attract the skilled employees towards the business. Theses factors will increases the profitability of the business and get the long term success of company.

    Company invest large amount of money in the communities of society and supports the local organisation will makes the business effective. For example, responsible practices of business will helps to improve the perception of the people about the company so that the customer base will increases along with the increase in the sales (Wang and et.al., 2016). These steps will attract those investors which only invested in the company who are socially responsible. When the sales of the company increases it will also increases the chances towards the future growth. In the present days people are more responsible towards the society and environment so to attain the success every company have to focuses that their business operation will not harm the environment.

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    To make the business successful CSR will helps the company attracting large number of skilled and talented people. For example to increase the level of motivation and loyalty in the employees then the company involves them in the activities of CSR. These companies will gain the better quality of candidates in the business as a result. The role of CSR in the business is very essential because they make the effective bond between the employees within the organisation (Schrempf-Stirling, Palazzo and Phillips, 2016). This will increases the efficiency of the business because every organisation make sure that the provide all the human rights to their employees so that they will motivates towards the business. In the organisation the manger make sure that their they protect their employees from any hazardous condition of business. By organising training and development programmes so that the employees will learn how to work in the most appropriate manner that they will not harm the environment and society. The employees get the equal opportunities in the organisation by using the policies of CSR so that the employees work effective to achieve the gaols and objectives of business (Yakovleva, 2017). For example, allocation of work to the employees is on the basis of their talent qualification and knowledge in the company. As per the human rights the company will not diversified the employees on the basis of their colour, race, religion, nationality so that the employees will not feels demotivated in the company. Employees are the key which leads to the success and growth of the business.

    To protect the environment of the country, company uses the environment friendly raw material in the production of goods and services. The company also contributed their efforts in reducing the rates of unemployment from the country by giving different opportunities of job to the unemployed people. This step of an organisation will makes the better company and they attain the success and growth (Jamali and Karam, 2018). For example company will produces the products and services as per the needs and wants of the customer will also leads to the future success of business. With the help of CSR the business will shows their values, engage their employees and proper communication with the customer about how they operate their business activities to make the future sustainable. Every company achieve the target by providing sustainable products to the customer. For example, company will make the plan and policies of business so that they will done the business operation in minimum wastage which will decreses the use of natural resources.

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    Corporate social responsibilities is the essential part of company for doing the business effectively in the market. The company focus on the both the corporate tax and different activities of CSR and they contribute towards the society. Activities of CSR is in the form of self regulations which incorporates the various issues such as management of environment, sustainable development. Tax is the return on the investments of the society from the advantages is taken by the different companies (Liang and Renneboog, 2017). The CSR will affects the tax of organisation because from the company's point of view, tax is not cost but it is the distribution out of the profits. Corporate directors have performed different duties in which they promote company's success and growth. On the other hand while they are performing these duties the directors have to consider impacts of their decision on society. In the current days most of the company are taking part in the corporate social responsibilities

    The activities of corporate tax will increases the profits for company because the business responsible for society and they fill taxes for the well being of society. With the criteria of CSR the customer and investors of business are increasing day by day it includes the behaviour of corporate tax to make the effective decision of investment and purchase. For example the investor make their decision to invest in the company when they properly focuses on the CSR. To increases the profits of the business every company to pay taxes to the government. The impact of the policy of CSR on the investment decision is that the improved investment of CSR will gives advantages to the shareholders which promotes the positive performance in the level of investment (Hopkins, 2016). Various activities of CSR are connected to the process of creating the value of company for example it is the tools which is used to improve the performance of the business and gain the maximum advantages of the competition. For example, if there is increase in awareness of the customer it will increases the sales and profits. When the investors are making the decision of investments they have this will be an advantages for them. Government will collect the tax to meet the objectives of economic and social.

    Aim of the CSR activities is to make sure that the practices of business will not harm the nature and society. Corporate taxes is important element in the business when they maintain business as socially responsible. When there is increase in the collection of the taxes then the goals of sustainable development are increases. For example, if the is business responsible towards the taxes then it will increases the image and reputation of company. Increase in image, loyalty and reputation is an important part of the business for maintaining an ethical business environment. Both the investment decision and corporate taxes are highly affected due to different policies of CSR in the business. The investment only invest in those company who are socially responsible. On the other hand every company have to pay the taxes so they make effective contribution in the development of the society (Matten and Moon, 2020). The focus of CSR is to protect the society and environment so company will pay the taxes to government on behalf of development of society. The government will build the schools and hospital which provides free education and treatment of the health in the low fees so it is necessary to feel the taxers for every company. Well being of the society by the government is possible only when every companies will pay the taxes timely. This will improve the company image by increase in the sales and profits of the business. For example, to achieve the success and growth of organisation is possible only when there is the large number of investors investing in the business and they attract when the business practices of company are done as per the different policies of CSR.

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    CONCLUSION

    From the above study it can be concluded corporate social responsibility is very important for the success and growth business because it will increases the effective image of the business in the minds of customer. Every company have to produce the sustainable products and services in the business and focuses to protect the nature and environment. By using the policies of CSR in business operation it will increases the sales and profits because the large number of customer attracted towards the sustainable products. Organisation will increase their profits only when they pay significant amount of taxes to the government. The investors will make the decision to invest large amount of money only in those company who are paying the appropriate amount of taxes to the government. CSR activities will make the good image of the company so the investors tend to invest in the business.

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    REFERENCES

    Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and cases in a global context. Routledge.

    Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make corporate social responsibility work for your business. Routledge.

    Hopkins, M., 2016. The planetary bargain: corporate social responsibility comes of age. Springer.

    Jamali, D. and Karam, C., 2018. Corporate social responsibility in developing countries as an emerging field of study. International Journal of Management Reviews. 20(1). pp.32-61.

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