Corporate social responsibility

"Corporate Social Responsibility", or CSR for short, is the buzzword for company’s
voluntary initiatives involving a number of various activities and company’s programs.
But the question is what does Corporate Social Responsibility really means and how is
it implemented in German companies? Expectations are growing as the public at large
and, increasingly, the financial markets want to know not just what a company does
with its profits, but also how it earns them.
This assignment examines first in what extend ethical aspects are an essential
condition for the justification of Corporate Social Responsibility. Therefore the basic
aspects of CSR and the paradigms to ethics will be discussed in the first part.
Afterwards before examining the situation of CSR in the German businesses
landscape, the main elements to build up a program focussing on social responsibility
will be listed. Then with the insight of what drives a CSR program, the question how is
it implemented in German companies in order to meet stakeholders expectations will
be answered. Several surveys conducted by agencies and the German ministry will be
the basis for an objective reflection of the situation in Germany and illustrating the
variety of initiatives and commitments. Final regards on the problems and risks
connected with Corporate Social Responsibility are mentioned to close up the study. If you follow the literature and daily press, marketers are verifying their relationships
with social values and responsibilities. Philip Kotler is pointing out in his ‘Principles of
Marketing’ that “as the worldwide consumerism and environmentalism movements
mature, today’s marketers are being called upon to take greater responsibility for the
social and environmental impact of their actions.” Demands in corporate ethics and
social responsibility have become important topics for the companies. Only few
companies can ignore this demanding change, but are being forced to take action
when authorities and the public are claiming. More forward-looking businesses readily
accept their role and seek ways to best serve the interests of their customer and
communities. They are building social responsibility and action into their company
goals and with that approach, they include concerns for individual and community
welfare in their daily decisions.