According to this article (here) CSR can be interpreted as “hypocritical window-dressing”, where many firms have been adapting to become corporate socially responsible as a way to market their products better. Firms are taking advantage of the idea of becoming CSR in order to see an increase in demand and profit. On the other hand, firms would face less risk in developing an unethical reputation from becoming a CSR company, as they would become a more trusted company; where actually “77% of consumers” say that it is significant for firms to establish a positive CSR.

What does CSR benefit and how do they all relate to one another? (http://www.csr-matrix.com/)

Transitioning from a more skeptical view to the businesses standpoint, they are benefitting from CSR. Some companies are realising that adapting to CSR may mean cutting costs, therefore more profit would be left for them. For example, Tyler Elm (Canadian Tire’s vice president of corporate strategy and business sustainability) values the idea of creating environmental sustainability, he believed that this could be a way to cut down costs and build a good reputation (CSR). He pointed out the “excessive packaging” and all the wasted paper and plastic Canadian Tire was facing, and persuaded the company that smaller packaging would reduce waste and also unit size; which further related to lower shipping costs as more products could be fit into the shipping containers. Elm had a point!

Therefore, there are conflicting views on the idea of firm’s adapting to CSR and it becoming all ‘a show’, but looking on the positive side CSR is a way to motivate companies to better the society/environment as well as the economy, as it creates CSV (a shared value in terms of profitability and reduction in cost) within the company.

Articles Used Links:

“How corporate social responsibility improved these companies’ bottom lines” – Alex Ballingall:

http://www.macleans.ca/general/how-corporate-social-responsibility-improved-these-companies-bottom-lines/

“From fringe to mainstream: companies integrate CSR initiatives into everyday business”:

http://knowledge.wharton.upenn.edu/article/from-fringe-to-mainstream-companies-integrate-csr-initiatives-into-everyday-business/