Social Reporting in Businesses Coursework Example | Topics and Well Written Essays - 2000 words

Social Reporting in Businesses - Coursework Example This essay declares that businesses pursue goals, objectives, and strategies that are highly likely to foster business continuity. This further takes the competitor factor into account. Where competitors are ignoring the dynamics of social reporting, a business can employ social reporting as an operational strategy that raises its short term and long term prospects. This is essentially seen in the energy sector. Firms in this sector have been shifting from energy sources that are environmentally harmful to green energy sources that best suit social and environmental concerns in today’s societies. As a result, players in this sector are now competing on green basis. The fashion industry, for example, is highly volatile. Its diversity and dynamism would require shifts in corporate social responsibility programs every time shift in fashion occurs. However, doing so is not only expensive, but also time wasting. This paper makes a conclusion that perceptions and expectations of the society shape social reporting in a very unique manner. Businesses develop values and cultures that allow them to effectively and efficiently serve the society. In order to fully communicate these values and cultures, businesses have to communicate them to the society. Moreover, the society cannot associate with business values and cultures that it is not aware of. For this reason, businesses have factored in their values and cultures in social reporting. This unique practice strengthens business-society ties in the corporate social responsibility context.