Can Businesses Continue to Ignore Corporate Social Responsibility in the Face of Economic Crisis Free Essay Example, 2000 words

Everyone desires to belong; businesses are not left out in such desires. Any business will wish to be recognized as a good ambassador for their countries of origin, their brands and even to present the best image possible to their consumers. This enhances the survival of the business in the face of adversities (Jenkins 2005, p. 525-540). Corporate Social Responsibility (CSR) also entails continuing voluntary commitment by business and even businesspeople to behave ethically. This then would mean investing in the people and community so as to enhance their quality of life. When people are financially empowered, they are able to spend on goods and services. As such, they increase the size of the market for the business to serve (Shaw 2009, p. 565-576). Looking at Corporate Social Responsibility as an instrument for value creation would mean that CSR should be employed as a way of enhancing innovation and promoting the sustainable business model. This has a far-reaching fundamental, st rategic and operational impact in the sense that it will enhance shared values between the business and the community. This will then ensure competitiveness and foster innovation as the community knows and appreciates what the business does. We will write a custom essay sample on Can Businesses Continue to Ignore Corporate Social Responsibility in the Face of Economic Crisis or any topic specifically for you Only $17.96 $11.86/page Instead of expecting the business to close down due to the economic crisis, the available human capital will provide the necessary innovations and develop ideas that would ensure the business remains afloat in such times (Kreng May-Yao 2011, p. 529-541).