Impact of Corporate Social Responsibility Policy

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A corporation's responsibility to their workplace and to society stretches across many boundaries. How well an organization manages this responsibility can be critical to the overall success or failure of the business as a whole. A company that chooses to ignore its responsibility to society will be met with harsh criticism, pay massive fees in many cases for compliance issues, and ultimately end up losing many if not all of its employees and customers due to the disregard for public safety and health (Wagner, 2009).

Fundamentally, corporate responsibility is a corporation's actions in relation to all things related to their business that impact people and the environment. Regardless of the size of an organization, every company serves some form of service to the public and to its employees; therefore, it has an obligation to make a positive impact on the people and environmental elements it is involved with (Waller, 2011).

For most corporations, the key factors that they focus on to be good contributors to society are things such as their environmental impact on the community and the earth as a whole. If they have excessive wastes and pollutants that they choose to ignore, it would be considered poor corporate responsibility. On the other hand, a company that is proactive and spends money and invests in improvement projects to reduce waste and help control their environmental impact would be considered a socially responsible business and the community would welcome them in most cases.

Other examples of corporate responsibilities are how a business treats its suppliers, vendors, contractors, and other partners that are critical to the success of the company. If a company works diligently at building trust and working toward mutual agreements and harmony in these relationships it can help drive down costs and work to the bottom line ...