In this blogpost, Sudhi Ranjan Bagri, Student, National Law Institute University, Bhopal, writes about what is corporate social responsibility and problems might arise in its implementation Introduction Corporate Social Responsibility has not been specifically defined anywhere. Though in its general meaning, it requires organizations to consider the company’s impact on society and the environment as they conduct business. Technically it is a good principle and is meant to benefit the society and also to take care of nature, but when its practicability is considered, there are a lot of problems which arise in its implementation, which the companies have to deal with. The blog would try to cover all those reasons which seem apparent to the author. Cost and Workload The first and foremost point which goes against implementing the social responsibility is that the cost which is required for its proper implementation is very high.

Where Can I The Pippa Funnell Games. Further, at the initial stage, it requires a high labor workload. It requires for early planning and troubleshooting strategies, which usually require massive time and cost, thus would lay a burden on the company. The company has to make long-terms strategies which would have such impact on maximizing the benefit while taking care of its social responsibilities. Risk awareness as a result of the implementation has to be taken into consideration and monitored. Business Objective Unlike public services which function to serve the public needs, the main aim of most of the private businesses is to maximize profit.

Advantages and disadvantages of corporate social. Advantages, disadvantages Introduction Corporate social responsibility. Corporate social responsibility. Keywords: Advantages of CSR, Disadvantages of CSR. Today, corporate social responsibility is considered as part of business strategy, there are many. What are the disadvantages of corporate social responsibilities to a. Advantages Corporate Social Responsibility. Disadvantages Corporate Social Responsibility.

Their main aim behind such incorporation thus makes it difficult to implement the social responsibility accounting system, as it requires a substantial amount of money. For example, it might happen that the policies and procedures, of a company, on disposal of chemical waste, is in accordance to the rules and regulation in that regard. However, it may not be sufficient to achieve the target of accommodating environmental and social needs. Staff Morale The implementation process requires heavy workload, and this may deteriorate the morale of the staff working in a company. Logically thinking, if some employees have to work extra than their scheduled hours without getting any extra pay for the same, they would prefer to quit their job and would seek some other place to work. Thus, this will increase the labour cost of the company as they would be left with no other option than to recruit new staff and equip them with the necessary training, which would further be a burden on the capital of the company. Shareholder Interests Proper implementation of corporate social responsibility requires a lot of changes to be made to many processes, which includes increased reporting.

Corporate Social Responsibility calls for organizations to consider the company’s impact on society and the environment as they conduct business. Though noble in principle and profitable in some industries, CSR has a number of detractors who point out the disadvantages of implementing socially responsible practices.

Companies usually hire some additional personnel to manage CSR initiatives. Amy Winehouse Frank 320 Rapidshare S. These require money, and thus the rivals in the market point out that the money spent on CSR comes directly from shareholders’ pockets, and that the company is thus taking steps which could hamper the interests of the shareholders.