Corporate social responsibility (CSR)
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Corporate social responsibility (CSR) is a controversial subject when determining how the MNCs should function, especially in less developed countries (LDC). Why is it important for a MNC to consider CSR? How do they take action? The level of corporate responsibility ranges from low involvement to high, proactive involvement; explain this. What are examples of controversy related to CSR?
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Solution Summary
This solution discusses why it is important for a MNC to consider CSR, how they take action, and the level of corporate responsibility range from low to high. It focuses on less developed countries. It gives examples of controversy related to CSR. Includes APA formatted references.
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Multinational companies must consider corporate social responsibility for variety of reasons. The primary reason is that behaving in a responsible fashion is the right thing to do and part of operating a business is making a commitment to making a social and environmental contribution. Companies are in a unique position to address social and environmental issues. In addition, there is increased international regulatory pressure that establishes international guidelines for CSR. Foreign direct investment puts pressure on multinational companies to exhibit greater CSR, which then becomes embedded throughout the organization. Shareholders and consumers demand corporate social responsibility, particularly in multinational organizations.
MNC may take action by reviewing local conditions and bringing the standards up to those of the organization's home country. The ...
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