The increasing importance of Corporate Social Responsability to organizations

Abstract

Today, organizations have been undertaking an increasingly important role as "social promotion agents”. There has been a growing recognition that good ethics can have a positive economic impact on the performance of companies. For example, in recent years, environmental issues have become one of organizations’ major concerns and the power of globalization has led companies to incorporate the socioenvironmental dimension into their management decisions. Enterprises should aim to be not only successful and profitable corporations, but also responsible entities. It is, therefore, imperative that companies recognize the impact of their business on the rest of society, including their own stakeholders and the environment surrounding them.