Corporate Social Responsibility for Global Business- myassignmenthelp

Question: Discuss about theCorporate Social Responsibility for Global Business. Answer: Introduction The concept of managerial accounting Managerial accounting refers to the process of measuring, identifying, analysing, communicating and interpreting information for effective achievement of an organization's goals.At present, there has been an increase in the concept that corporate social responsibility (CSR) is substantial for the sustainable development of companies and their role in the society as a whole (Bhattacharya, et al., 2017). The CSR is incorporated into mission and vision statements and is given the highest priority in strategic configurations of modern organisations increasingly. The importance of CSR in the management Accounting As per the Global Business Council for Sustainable Development, CSR is the continuing commitment by business to contribute to economic development while improving the quality of life of the workforce and their families, as well as of the community and society at large. The Corporate Social Responsibility looks beyond profits and keeps on focusing on the technique how a business should run and can benefit community (Steenkamp, 2017). The concept of corporate social responsibility enables the corporations to perform their bit for the society, customers, environment and the stakeholders. When it comes to management accounting the Corporate Social reposinility has the following importance in the business environment: The concept of corporate social responsibility provides opportunities for all the organizations employees to make contribution to the society, country and environment: The concept of social responsibility deals with the ideology of living for others and making and action that would benefit the community as a whole (Ruggie, 2017). An act that would bring a smile to the lives the people is given priority by the organisations. For instance the organization may pledge to provide education to the poor children of a particular village, this not only provides them with the sense of inner satisfaction but also enables them to gain pride and contentment. The Corporate social responsibility creates a word of mouth that is beneficial for the organization: If the company conducts an act that would benefit the stake holders, society, customers it would not only enhance the entity into a greater level but also can guarantee a growth that is long term along with success. It also plays a vital part in creating the brand prevalent not only among the competitors but also other organizations, media, and people who are the direct customers. Corporate social responsibility provides the organization unparalleled happiness: The activities of CSR strengthen the bond among employees. The People develops a habit of working as one unit to help others along with the sense of attachment and loyalty towards their enterprise which is at least thinking for the society (Poussenkova et al., 2016). The CSR also heps in building a positive brand image. The Positive word of mouth helps to generate revenues for the business. Some examples of Corporate Social Responsibility in management accounting in renowned countries: BMW The company of BMW is proud of being one of the most socially responsible companies in its industry. It has fixed goal of serving many by the year 2020. They have conducted agendas such as The Schools Environmental Education Development Project to help in raising awareness of environmental and social issues. LEVI STRAUSS CO. The company that keeps its focus on the efforts of CSR is Levis. Its look out is to decrese their environmental footprint by acting in human rights and environmental causes. Levis has a Worker Well-Being Initiative that has the objective to help and improve the life of their employees. Levis has also trademarked their Water-Less campaign by using less water when manufacturing their products. They have saved over one billion litres of water and hope to improvise their process of manufacturing by the year 2020. Starbucks Coffee The company of Starbucks Coffee focuses on social and ethical responsibilities. The company of Starbucks goals in making a product that not only gives advantages to the customers, but also to the environment (Schwartz, 2017).The C.A.F.E. program initiated by them, sets guidelines to enhance the quality of product, social and economic responsibility, and management of environment. Partnering with Ethos Water, Starbucks is helping bring clean water to over one billion people who does not even have access to it. Conclusion Several ways are there about processing the best program of CSR for a business. In the approcahes from above it has been seen how different companies take different approaches. Some organizations give back to their employees, few of them give back to the community, and at times to both. The society develops a positive feeling for a brand that is engaged in taking the initiative of providing education to the poor children, plantation of more trees for a environment that is greener, providing the villages with electricity, giving employment to many individuals and similar actions. References Bhattacharya, C. B., Korschun, D., Sen, S., Routledge, H. (2017). Corporate social responsibility.Journal of International Law,26(2). Poussenkova, N., Nikitina, E., Loe, J. S., Wilson Rowe, E., Wilson, E., Fjaertoft, D. (2016). Corporate Social Responsibility.Russian Analytical Digest (RAD),181. Ruggie, J. G. (2017). The theory and practice of learning networks: Corporate social responsibility and the Global Compact. InLearning To Talk(pp. 32-42). Routledge. Schwartz, M. S. (2017).Corporate social responsibility. Routledge. Steenkamp, J. B. (2017). Corporate Social Responsibility. InGlobal Brand Strategy(pp. 209-238). Palgrave Macmillan, London. Tai, F. M., Chuang, S. H. (2014). 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