The Five Dimensions of Responsible Business

The analysis in the report is based on the discussion related to nature of the business and the shape of the business structure as well. The initiatives related to business operations and other factors related to the influence of the government in the business activities will be analysed (Tai and Chuang 2014). Business responsibility can be related to many things that includes the ways by which the activities related to a business influences the consumers of the organizations, the employees and the environment as a whole. This can be called as the corporate social responsibility of the organization (Suliman, Al-Khatib and Thomas 2016). The other names that can be given to a responsible business are corporate citizenship, corporate conscience, sustainable business and social performance.

The major responsibility of any business organization is to earn profits, however, the concept of corporate social responsibility relates to the duty of the companies to be responsible towards the society at large (Clapp and Rowlands 2014). The five dimensions or components of responsible business are as follows,

• Environmental – The dimension of a business related to social responsibility is mainly related to the impact of the activities related to business on the external environment. The goal of a responsible business is to engage in the business activities that can benefit the environment (Pedersen 2015). The environmental dimension of the business is important to decide the sustainability of the business organization in the market. The business organization can be more sustainable in the market if the activities related to the business have a positive impact on the environment.
• Social – The second dimension of a responsible business is the social aspect which involves the relation between the society and the business (Cheng, Ioannou and Serafeim 2014). The social dimension is related to the way by which the businesses can aim towards benefitting the society in a holistic manner. The sourcing of products must be done in an ethical manner and the organizations need to take initiatives to provide some benefits to the society.
• Economic – The third aspect of a responsible business is the economic dimension. This dimension refers to the ways by which the social responsibility of the business has an impact on the finances of the organization (Korschun, Bhattacharya and Swain 2014). The corporate social responsibility has an impact on the financial planning of the business organization as well. This impact has to be taken care of by the management of the organization. The management needs to take decisions in such a way so that the costs related to being a good corporate citizen can be balanced with the profit making of the business.
• Stakeholder –The fourth dimension of responsible business are the stakeholders of the company. The stakeholders of the company include the consumers, employees and suppliers (Schrempf-Stirling, Palazzo and Phillips 2016). The ways by which the decisions related to social responsibility affect these groups of people are important for the analysis of this dimension.
• Voluntariness – The voluntary services that are provided by the members or the people related to the various groups are falls under the fifth dimension of a responsible business (Servaes and Tamayo2013). The voluntary services provided by these groups of people are related to the ethical values of the organization and the members of the organization as well.

Corporate Social Responsibility is the particular concept that a business requires to be concerned with profit. Proper organizational commitment is essential in nature in different organizations as this will help in bringing stability in the organization and this will help in retention of the customers. There are different customers wherein proper stability is required in order to gain the long-term growth as well as with the increased that can be served with maintaining stability with different aspects in the company. According to the Kumar (2015), proper CSR activities have to be created in order to create proper kind of relationship between commitment as well as CSR on the entire social exchange.

Within an entire organization, social enterprise plays a major role in bringing proper sustainability in the business. Corporate Social Responsibility helps the different organizations in providing different chances that are required in order to provide chance to all the employees to contribute towards the entire society (Baumann-Pauly et al. 2013). CSR plays a major role in providing proper opportunity to the organizations as this will help them in working towards the betterment of society as well as make the better place as well. CSR goes long way as this will help the company in creating positive environment for the entire organization and this will help the organizations as a whole.

Corporate Social Responsibility provides the different employees in the organization a proper feeling of unparalleled happiness as this will help the employees in providing training to the different employees in the entire organization as this will help in contributing positively towards the entire society. Corporate Social Responsibility provides ability to have positive impact in the entire community, as this will help in analyzing the different requirements that will help in contributing for the entire environment.

Organizational Commitment and the Importance of Stability

CSR will help the different companies by supporting with outcomes that are publicly valued, this will help in contributing towards the entire society, and this will help in generating positive change in the entire organization as well (Harjoto, Laksmana and Lee 2015). The different ways has to be found by the different organizations, as this will help in delivering different positive outcomes with the help of focusing on the services that are provided by the different organizations as well. There are different services wherein this will help in contributing towards the entire community as well.

CSR activities in the different organizations will help in encouraging both the personal as well as professional development as this will help in providing the employees the different kind of benefits that are required in order to encourage the different developments (Carroll, Primo and Richter 2016).  The CSR activities in the different organizations will help in generating more potential employees and this will help in personal development as well. The CSR activities will help the different organizations will help in enhancing the different kind of relationships among the different clients.

 A strong corporate social responsibility will help the different organizations is essential in nature as this will strengthen the relationship and this will help them in maintaining proper relationships with the different employees in the organization as well. Corporate Social Responsibility activities in the organization will help in improving the entire public image and this will help in demonstrating the different commitments that are required in order to publicize the different efforts in the organization.

The different activities that are related to CSR will help in increasing the coverage in the media and this will help in forming proper relationships among the employees as well as customers. These kinds of CSR activities will help in improving the possible benefits that are required in order to have the CSR program that will help in increasing the different chances that will help the company in getting proper coverage as well. The different CSR activities will help in boosting the morale of the engagement of employees and this will help in providing the different employees with equal better output (Asif et al. 2013). The different activities that is related to CSR will help in retaining as well as attracting the investors wherein the money are invested in different social works and this will help in engaging different jobs that will attract as well as retain the valuable as well as engaged employees.

The Role of CSR in Improving Public Relations

The proper relationships has to be maintained in the different organizations as this will help them in delivering positive outcomes and this will help in engaging properly with the public as well. A proper as well as strong relationship and corporate social responsibility is required to be maintained properly as this will help the organizations in maintaining different value outcomes as well. Proper corporate social responsibility is required to be maintained as this will help the different organizations in maintaining properly encouraging the different private relationships among the employees as well as public kind of relationship among the different other publics who are the different investors of the respective organization.

Proper visibility of the social media is essential in nature, as this will help in creating successful programs that helps in showing the different sustainable materials that will help them in donating the different financial resources. This will help the different organizations in volunteering for the different positive environmental causes. The proper visibility of the environmental causes is essential in nature, as this will help in building positive workplace environment. The proper kind of potential public relationship is essential in nature, as this will help in shaping the different image of the customers. There are different corporations that will promote the social responsibility, as this will help in publicizing the different initiatives related to Corporate Social Responsibility (Wenzhong 2013). The proper relations with the government is essential in nature as this will help in building programs related to employee volunteers and this will help in gaining proper competitive advantage as well. The proper CSR activities will help in building positive outlook and this will help in working towards the entire community as well as in organizations. The proper public image is of great importance, as this will help in donating different funds that are required in order to make the different organizations participate in different tasks that are required in benefitting in the entire organization.

Proper positive environment is essential in nature as this will help in making the employees work for the organization, as this will help in analyzing the issues that will help in ensuring the different materials as this will help the different organizations that will be sustainable in nature (Aguinis and Glavas 2017). Proper sustainable environment is essential in nature as this will help in identifying the different issues that can affect the image of the business and this will have huge impact on the business as well. The proper ascertainment are required to be done as this will help in covering the different corporations that are required as this will help in reflecting the corporate social responsibility issues and this will help in enhancing the entire business as well.

Employee Development and Volunteerism

Proper CSR activities is essential in nature as this will help the different companies in building proper public image and this will help in enhancing the public as well as private image in the organization. The different negative impacts has to be reduced by the organizations with implementation of the activities related to CSR as this will help in benefitting the different tasks performed by them.

The government plays an important role in the CSR activities of an organization. The responsible business needs support from the government to carry out the CSR activities and to become a responsible corporate citizen. Government plays the role of a stakeholder in the organization and the CSR activities are related to the support that is provided by the government (Wu and Shen 2013). The rules and regulations that are formulated by the government affect the CSR activities of the organization. The regulations are formulated based on the environmental as well as social problems that occur in the industry where the organization is operating. The significance of the government is changing constantly in the new business environment.

The corporate responsibility of the organization mainly provides a framework that is related to the collaboration among the different governments, corporations and the civil society as well. The new model related to the governance can help in creating the interactions between the actions that can help in solving the problems related to the society that include social exclusion and unemployment. The resources related to the private sector can play an instrumental role in the delivery of international goals that are sustainable in nature. The activities related to code of conduct and CSR are considered to be cost efficient in nature and enhancing the effectivity of the development strategies that are sustainable in nature. The governments make tie-ups with the businesses in an international level (Cramer 2017). The relation of innovation with national competitiveness is a major reason that is related to the concern of government regarding CSR.

The clusters of corporate responsibilities that are able to share responsibilities and resources can help in creating a successful framework for the purpose related to design and implementation of the public policies related to corporate responsibility. Governments need to show the reactiveness related to the CSR activities of the companies so that they can gain benefits from the increased stability and peace and enhance the protection of the environment. The trust of the public can also be increased in this manner, the process of sustainable development will become conventional, and the businesses will not affect the communities in an adverse manner (Boulouta and Pitelis 2014). The major role of the government related to the CSR activities of the organization is related to the ways by which the government can promote the CSR of the companies.

Government Support for CSR Activities

The role of the government needs to be reinvented in the current business environment. The legislations that are formed by the government needs to ensure that the CSR activities can deliver the outcomes that are desired so that the challenges related to the system can be met. The governments need to work with the business to the incentives can be created and it can encourage the organizations to take the actions related to the benefits of the society and business (Linnhoff et al. 2014). There are six major roles of the government that are considered for the CSR activities of the organizations which include,

• Increasing the knowledge related to the positive impact of CSR.
• Developing exchange related to good practice in CSR.
• Promotion of the development of management skills related to CSR.
• Facilitating transparency and convergence of CSR practices
• Launch of a stakeholder program related to CSR.
• Integration of CSR and community policies

Conclusion

The report can be concluded by saying that the responsible business or the corporate citizens are a major part of the business environment. The responsibility of the business organization mainly lies in aligning the activities of the business with the activities related to the sustainability of the business with the environment. The ways by which the business activities affect the environment and the society is important for the sustainability of the business. The responsible business mainly relates to those types of businesses that operate in the market in a responsible manner. This helps the organization to sustain in the business environment for a longer by not affecting the environment in an adverse way. A responsible consists of many different components that include environmental components, social components, stakeholders, economic components and voluntaries as well. All the five components of the responsible business that are discussed above affect the ways by which the business operates in the market.

The organizations that play significant roles in the sustainability of the environment are also known as the social enterprise. The social enterprise can be therefore described as those organizations that act as responsible corporate citizens and decrease the effects of the business activities on the environment. The role of government in the CSR activities of the organizations is also discussed in the report. The governments play a significant role in the CSR related activities of the organizations. Governments can also promote the CSR activities of the organizations and help them to create a sustainable business environment. It can therefore be said that the CSR activities of a company are closely related to the environmental preservation and development as well.

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