The Status of Corporate Social Responsibility

Abstract

This report shows the reason why corporate social responsibility (CSR) is needed by Australia companies with a brief introduction of CSR, and in order to achieve sustainability, organisations should fulfil social expectations. Both organisations and society can benefit from acting CSR. Internally, acting CSR can decrease the turnover of employees and the company’s potential risk, improve customers satisfaction and the company’s reputation. In addition, externally, acting CSR will protect the environment, facilitate the economic development and improve organisations’ ability to survive. However, CSR is an uncompleted concept, it still has some limitations in comparability, consistency, reliability, and relevance. Therefore, effective regulatory system should be designed to monitor those companies that introduced CSR policies.