Corporate Social Responsibility Corporate Philanthropy

Topic 3: Corporate Social Responsibility (CSR): Corporate Philanthropy Why some firms are more committed to corporate philanthropy than others? 1. Introduction Corporate social responsibility (CSR) is a topic under spotlight in recent years, firms become more committed to involve in corporate philanthropy by giving away gifts or monetary contributions to social and charitable causes. However, different firms tend to have a different level of commitment towards corporate philanthropy, which means that some firms are more committed to corporate philanthropy than others. Therefore, this essay discusses why some firms are more committed to corporate philanthropy than others by analyzing the motives of the firms on the individual level, firm level and field level. 2. Definition of Corporate Philanthropy and the Relationship with CSR Corporate philanthropy can be defined as donating a portion of its resources to a social cause by a business enterprise (Ricks Peters, 2013). Gautier and Pache (2013) also define corporate philanthropy as voluntary donations of corporate resources to charitable causes and for public purposes. Speaking of the relationship between corporate philanthropy and CSR, some scholars suggest that corporate philanthropy is a precursor of CSR (Gautier Pache, 2013) and is a component of the larger domain of CSR (Wang Qian, 2011). Thus, given that corporate philanthropy is a component of CSR, by referring and studying some academic journals that areShow MoreRelatedCorporate Social Responsibility : Corporate Responsibility773 Words   |  4 PagesCorporate social responsibility may also be referred to as corporate citizenship and can involve spending finances that do not directly benefit the company but rather advocate positive social and environmental change. 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