Peer ceer crypto skolinimas

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For the past few years discussions about companies responsibilities growing from just abiding the laws to making sure that social, economic and environmental sustainability is ensured have been rapidly emerging. CSR s relevance mostly comes from the uncertainty of its definition which causes scepticism in businesses and society alike.

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The influence of CSR on business s results and employees is an integral part of modern business management but not every company decides to spend money and resources on it because of its costs.

Investopedia describes CSR as a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.

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By practicing corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental. Chen, Research goal to analyze corporate social responsibility s advantages and disadvantages. Research methodology analysis and systematization of scientific, theoretical literature and other sources of information.

Research tasks: 1. Define CSR 2.

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Overview CSR s advantages 3. Overview CSR s disadvantages 1. Defining CSR Corporate social responsibility is an approach which encourages companies to be more aware of the impact their business practises make on the society and the environment. Main purpose of CSR is monitoring and ensuring the company s practises meet the laws, ethical standards and national norms. In the long term it provides profits in the form of positive change towards environmental sustainability, positive public perception of the company, increased shareholder trust and thus most 7 8 likely profitable turnover.

Positive impact may also be made on consumers, employees, investors, communities and so on Geethamani, The term corporate social responsibility has been widely used since the s to cover legal and moral responsibilities. There is an uncertainty as to how CSR should be defined because different sources and articles have different definitions of it, at least 37 according to researcher Alexander Dahlsrud.

Cambridge dictionary defines it as the idea that a company should be interested in and willing to help society and the environment as well as be concerned about the products and profits it makes while the primary economics definition of it states that CSR is sacrificing profits McWilliams and SiegelReinhardt et al. CSR programs can be a beneficial strategy for a business, but it is not without a cost. If a company is practically a large enterprise, it can be a suitable plan for peer ceer crypto skolinimas business.

However, for small and medium enterprises, it can be a risky move to adopt CSR. This is one of peer ceer crypto skolinimas most important questions that every new business must assess carefully in order not to fail because it may have a serious impact for the company s future Sheehy, In this article we will present the main advantages and disadvantages of CSR and try to assess the ways to reach a sustainable and effective CSR.

Having read all peer ceer crypto skolinimas these definitions and explanations of CSR we deduct that it is a way of managing a company that blends motivation and means to complement a profitable business and following lawful regulations and obligations to the society and the environment set by the authorities.

CSR s advantages Realistically one of the most important reasons as well as a huge advantage for CSR is creating a positive public image of the company.

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A study peer ceer crypto skolinimas by Unilever found that brands are chosen based on their social or environmental impact by a third of consumers Andrew Thompson, An example of this is Google s circular economy model the products, components and materials are literally made to be made again, they are created to be easily refurbished, repaired, reused and recycled. This economy model has a huge impact on the environmental sustainability because it saves thousands or even millions of tons of natural Earthly materials every year Google, This creates a positive image of Peer ceer crypto skolinimas and encourages consumers to buy Google s products.

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Another colossal advantage of implementing CSR policies is that usually they help the company to operate under all of the law regulations. Doing CSR activities on a medium or large scale lessens the chances of operating illegally to lower costs or lying about certain aspects of their products and later getting busted by scrutinies and checkups conducted by the authorities.

Just such a case happened to Volkswagen in when over half a million diesel cars had special software installed in them which helped fool the emissions drive cycle set by the Environmental Protection Agency. La Monica, Smaller advantages include attracting and retaining valuable employees, attracting new investors and new ways to advertise the brand. Getting more positive public attention also boosts chances of getting new investors i. All in all, CSR implementations have a wide array of pros and if carried out correctly are a positive thing for the company because the budget used on CSR may be counted as an investment in your own brand s image and can be turned into profit.

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CSR s disadvantages On the contrary of the aforementioned set of CSR s advantages lies a set of challenges and disadvantages. Every company s utmost priority is making profit, however CSR activities usually mean cutting profit which may make the shareholders question whether it is necessary. Major enterprises and corporations can afford to allocate a certain budget to CSR but for smaller companies it may be very hard to implement certain CSR programs.

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For example, buying quality products from small natural farms or paying workers better wages while providing them with good working conditions is always more costly than buying products from huge dense farms or paying workers the legal minimum with bad working conditions.

Those who choose to practise CSR and choose the moral high ground may find themselves at a competitive disadvantage because their choices lead peer ceer crypto skolinimas more expensive products for the consumers which tend to buy the cheaper offering. While people may be willing to spend a bit more if they feel 9 10 a company is ethical and socially responsible there is no guarantee it will even return said company the initial investment in such a CSR program. CSR programs could also backfire on the company if carried out incorrectly.

Conducting CSR programs quietly brings few benefits but when they are conducted publicly the company subjects itself to greater scrutiny and investigation. Hence, a peer ceer crypto skolinimas mistake or an top bitcoin savininkai irresponsible action on a company s behalf usually gets heavily criticized which may outweigh most or even all of its positive activities. This can also cause irreversible damage to the brands image in the consumers eyes and its reputation Thacker, One more disadvantage of public CSR initiatives is the difficulty in showing and convincing the consumers they are genuine.

After all it is hard antroji rinka bitcoin distinguish between sincere and fake CSR programs as imply the thoughts of Albert Z.

Carr in his article You cannot expect other players to tell you the truth. Bluffing is an intrinsic part of this game. Truth and ethics are not. These words show that ethics in business can be viewed as purely a trick to get more money from the people s pockets Vaccaro, To sum up, the biggest disadvantages are costly and scrupulous implementation which is quite risky for smaller businesses and showing the public you genuinely care about the cause because in the peer ceer crypto skolinimas s eye insincere programs carry little to no benefit for the company.

Conclusion Corporate social responsibility has both: a great set of potentially world changing programs and some turnover, profit and reputation dampening risks. The main question of assessing best ways to implement a successful and low cost CSR policies is arguable and greatly depends on the company s operating field.

Peer ceer crypto skolinimas conclusions from this work are the following: 1 the larger the company, the easier it is to implement and maintain CSR programs and activities, smaller businesses should not try to overdo peer ceer crypto skolinimas in order not to become less competitive in the market; 2 all CSR activities must be carried out seriously and scrupulously, every action and mistake count towards the result; 3 there is a fine line between genuine and fake CSR because business is business and you cannot expect everyone to peer ceer crypto skolinimas fair.

In conclusion, corporate social responsibility is a positive and important thing and should be incorporated by every company that can afford it so that all of us can have a better tomorrow. Potašinskaitė, M. Ir Draugelytė, A. Scientific Journal.

Įmonių socialinės atsakomybės svarba Lietuvos organizacijoms. Research papers. A history of corporate social responsibility: Concepts and practices.

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Oxford University Press. Is Business Bluffing Ethical. Harvard Business Review. Source: 5. Chen, J. Corporate Social Responsibility. Source: 6. Environment Projects.