Corporate Social Responsibility External and Internal Factors Essay

Corporate Social Responsibility External and Internal Factors - Essay ExampleGalbreath, J (2006) mentions that firms have three responsibilities to society economic, friendly and environmental. The internal factors that be active the social responsibility within the companies include managers, employees, shareholders, customers, and suppliers. The internal factors are more focused on maximizing profits on shareholder returns, giving something concealment to the society in a form of philanthropy which arises from firm surplus profit and firms proactively involve themselves in dialogue with their stakeholders and integrate their findings into decision making. The external factors influencing the social responsibility include culture, government regulations, Non-government organizations and global standards. The external factors require the company to operate within the context of national and even regional cultures of the nation, oblige to the level-headed framework necessary to an economy as a response to inefficient and inequitable behavior and global standards. The companies social responsibility towards society environmentally includes decrease of waste output, reduction of energy consumption, sustainable measures to protecting the environment. Whereas socially, a company needs to focus on promoting diversity, choosing suppliers on non-economic criteria, reintegration support and alliance with NGOs (Poussing, N. 2009) in wander to provide services to the community which are not available from the state, like education, health, welfare, etc.