Topic 4 – Corporate Social ResponsibilitySituation:Corporate Social Responsibility is not a luxury...

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Topic 4 – Corporate Social ResponsibilitySituation:Corporate Social Responsibility is not a luxury anymore, it is a requirement of all firms no matter how big or small.Task: Complete the below questions 	What is Corporate Social Responsibility? 	Legitimacy theory speaks of a ‘social contract’ between organizations and the society in which it exists. It also speaks of a ‘legitimacy gap’ when this relationship breaks down. Explain these concepts. 	Stakeholder theory speaks of an ethical and a managerial branch. Explain the differences between these two branches and including the relevant assumptions of both. 	Explain the link between stakeholder theory and an organization’s voluntary disclosure of sustainability reports 	Should sustainability reports be included in an entity’s financial report? Explain why or why not. 
	
Document Preview: Topic 4 – Corporate Social ResponsibilitySituation:Corporate Social Responsibility is not a luxury anymore, it is a requirement of all firms no matter how big or small.Task: Complete the below questionsWhat is Corporate Social Responsibility?Legitimacy theory speaks of a ‘social contract’ between organizations and the society in which it exists. It also speaks of a ‘legitimacy gap’ when this relationship breaks down. Explain these concepts.Stakeholder theory speaks of an ethical and a managerial branch. Explain the differences between these two branches and including the relevant assumptions of both.Explain the link between stakeholder theory and an organization’s voluntary disclosure of sustainability reportsShould sustainability reports be included in an entity’s financial report? Explain why or why not.

Robert · Accepted Answer

Corporate Social Responsibility
By Name of the student
Course Name 
Instructor Name 
University Name
2
nd
 September 2013
Answer 1 
Corporate social responsibility is the commitment by the business firms to carry out 
business ethically and at the same time contributing to the economic development and improving 
the life of the employees, their families and society at large (International Conference on 
Corporate Social Responsibility and Sustainable Development 2013).  By the means of corporate 
social responsibility a company tries to integrate its social and environmental concerns in its 
business operations and attain a balance between economic, environmental and social obligations 
(United Nations Industrial Development organization 2013). 
Answer 2 
Legitimacy is considered as a generalized perception that the actions of an entity are 
desirable and appropriate with socially constructed system of norms, values, beliefs and 
definitions. Legitimacy theory suggests that organizations try to ensure continuously that they 
operate according to the expectations of the society. It speaks of an implicit social contract 
between the business and the society where the business is accountable to the society for its 
actions and agrees to operate in a socially desirable manner with an expectation of approval from 
the society with regards to the operations and objectives of the business (Laan 2009).

Topic 4 – Corporate Social Responsibility Situation: Corporate Social Responsibility is not a luxury anymore, it is a requirement of all firms no matter how big or small. Task: Complete the below...

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