...Global Context of Management. Assignment #3. Having read the article by Senge and Carstedt, do you think that in the topic of sustainability/CSR amounts to a revolution? To answer this question let us first define what revolution is. One of the definitions of this term is « a dramatic and wide-reaching change in conditions, attitudes, or operation». Given this definition I believe that Corporate Social Responsibility does amount to a revolution when it comes to the topic of sustainability for several reasons. Firstly, we observe following change in attitude – increasing transparency of corporations. Secondly, the conditions in which companies operate are changing taking into consideration phenomenon of prosumerism, when consumers are taking an active part in co-creating value of the product sand services they acquire. Thirdly, CSR introduces changes in operation not only of one company but the whole value chain. Let us take a closer look on these reasons. 1. Increasing transparency of corporations. As Senge and Carstedt have noticed, companies are experiencing increasing pressure of public and community attention to the way business operates in terms of its influence on the environment and society. We can observe it via different channels – PR, advertising, reporting. Through their PR activities companies underline their CSR policies. Even when they do not do it consciously, they have to address these issues when facing public critics in case of irresponsible behaviour...
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...towards sustainability Case Study on Ballarpur Industries Ltd.” in reference to Yamunanagar Plant” *Ms. Shilpa Jain **Mr. Abhishek Tripathi Abstract ……………………………………………………………………………………………………………………………… CSR is not new to India; companies like TATA and BIRLA have been imbibing the case for social good in their operations for decades long before CSR become a popular cause. Inspite of having such life size successful examples, CSR in India is in a very nascent stage. It is still one of the least understood initiatives in the Indian development sector. Thus the situation is far from perfect as the emphasis is not on social good but rather on a policy that needs to be implemented. A lack of understanding, inadequately trained personnel, non availability of authentic data and specific information on the kinds of CSR activities, coverage, policy etc. further adds to the ineffectiveness of CSR programmes. But the situation is changing and CSR is coming out of the purview of ‘doing social good’ and is fast becoming a ‘business necessity’. The ‘business case’ for CSR is gaining ground and corporate houses are realising that ‘what is good for workers - their community, health, and environment is also good for the businesses. Present article focuses on the CSR with the case study of BILT (YamunaNagar Plant) as a concept and analyses the real life case study. Present paper is divided in to two parts. First part gives the insight of CSR as a concept, current trends of CSR in...
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...What would an even more complete CSR engagement look like? With the advancement of technology, organizations are looking for more ways to reduce costs and increase revenues. Pressure from employees, consumers, shareholders and the community to be more efficiently, publicly, and ecologically aware have contributed to more organizations going “green”. This not only involves paper or pollution waste, but Information Communications Technology (ICT) as well. No exceptions to the rule, ICT managers are faced with sustainable issues on how to collect, communicate, control, or salvage information electronically. According to Wright (2010), The Information and Communications Technology Industry has the “potential to impact society and the environment in a more positive than negative way, because of its impact on other industries, e.g. through smart buildings, smart grid, intelligent transportation and reduced transport as a result of electronic communications” (p. 39). Legislation at both the national and European levels is pushing for alterations to reduce risk by promoting improvements in recruiting, loyalty, brand differentiation and innovation. A more even complete CSR engagement would encompass a connection between social and environmental execution and financial execution. Vogel (2005) noted in his book that corporate social responsibility (CSR) should be about “more than going beyond compliance; it must also include efforts to raise compliance standards” (p. 171). Host...
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...Host Europe: Advancing CSR and Sustainability in a medium-size IT company – What issues is Host Europe facing? – Which measures have been introduced? 1) What would an even more complete CSR engagement look like? With the advancement of technology, organizations are looking for more ways to reduce costs and increase revenues. Pressure from employees, consumers, shareholders and the community to be more efficiently, publicly, and ecologically aware have contributed to more organizations going “green”. This not only involves paper or pollution waste, but Information Communications Technology (ICT) as well. No exceptions to the rule, ICT managers are faced with sustainable issues on how to collect, communicate, control, or salvage information electronically. According to Wright (2010), The Information and Communications Technology Industry has the “potential to impact society and the environment in a more positive than negative way, because of its impact on other industries, e.g. through smart buildings, smart grid, intelligent transportation and reduced transport as a result of electronic communications” (p. 39). Legislation at both the national and European levels is pushing for alterations to reduce risk by promoting improvements in recruiting, loyalty, brand differentiation and innovation. A more even complete CSR engagement would encompass a connection between social and environmental execution and financial execution. Vogel (2005) noted in his book that corporate...
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...A review of the sustainability products, services and programmes of the international best practice sustainability finance institutions and initiatives demonstrates some or all of the following characteristics: COMMON THEMES Embedding CSR: Many companies report on their governance and management systems and processes to embed CSR or sustainability throughout the company, including: • Boardapproved mission and values statements that incorporate sustainability. Some FIs take the view that CSR will contribute to longterm shareholder value; others commit their organization to using financial services to contribute to sustainable development; and the sole purpose of a third group is to aid sustainability through finance. • Establishment of CSR board committees and governance frameworks. • Shift to thinking about CSR as a business strategy or opportunity. Many companies describe a process of moving away from a compliance and risk minimization orientation to identification of new business opportunities and win-win solutions that benefit the company and the environment/society. • Designation of senior management responsibility for CSR, appointment of CSR staff, establishment of CSR units and cross-department CSR teams and working groups. • CSR staff training and development of CSR awareness in leaders. • Incorporating CSR into performance contracts, job descriptions and incentive pay. • Secondment, including long-term secondment programs, and...
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...Course: CSR Trimester I Assessment: Oral Presentation Total Marks (15 marks) CLO Students should be able to integrate dimensions of social responsibility in managerial decision making (CLO2) |Aspect/ Performance Area |Exemplary |Satisfactory |Unsatisfactory |Score | | |(3) |(2) |(1) | | |Rational for sustainable |Clarity in describing the |Identifies the rational based |Has a vague idea of the rational | | |business/CSR |alignment between business |on a few pertinent facts |and does not have facts to support| | |(5 marks) |goals and social goals on the | |the same. | | | |basis of facts | | | | |Identifies CSR/Sustainability |Explains the logic of various |Determines some logic to |Is not sure about the logic of | | |Dimensions |CSR/ Sustainability dimensions|explain CSR dimension |various CSR dimensions | | |(5 marks) |incorporated by the company | |incorporated by the company ...
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...DEVELOPMENT THROUGH CSR ____________________________________________________ INTRODUCTION Sustainable development is a vision and a way of thinking and acting so that we can secure the resources and environment for our future generation. It will not be brought through policies only - it must be taken up by society as a principle guiding the many choices each citizen makes every day, as well as the big political and economic decisions that affect many. It is clear that environmental degradation tends to impose the largest costs on those generations that are yet to be born. We can only improve sustainable development when it will put an emphasis on involving citizens and stakeholders. Ultimately, the vision will become reality only if everybody contributes to a world where economic freedom, social justice and environmental protection go hand in hand, making our own and future generations better off than now.1 Sustainability has emerged as a challenge before entire civilization. The challenge before us is to reduce disparity through capacity building and providing poor and dispossessed access to the knowledge and resources needed for meaningful life. National Development through Corporate Social Responsibility (CSR) and Sustainability ensures the well-being of individual by integrating business practices in an economically, socially and environmentally sustainable manner that is transparent and ethical. CSR is about not only complying...
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...concept of ‘sustainability’ became a phenomenon that was widely embraced by many government agencies and corporations worldwide. The importance of sustainability has grown especially in the context of rising global competition and economic downturn with research indicating that 93 percent out of 800 global CEOs acknowledging the important role of sustainability in their companies’ success [Refer to Figure 1 and Appendix A]. (Gibson & Hassan 2005; Lacy & Hayward 2011) Figure 1 – Importance of Sustainability Issues to Business’s Future Success (Source: Lacy & Hayward 2011, pp. 350) Sustainability is a broad concept which can be defined as the long term ability of managing and maximizing practices to achieve positive outcomes while minimizing the negative impacts on future generations and their ability to achieve future needs. (Hitchcock & Willard 2009; White 2009; Crowther & Capaldi 2008; Henriques & Richardson 2004; Aras & Crowther 2008) The 1987’s Bruntland Report (Our Common Future), by the World Commission on Environment and Development (WCED), identified economic, social and environmental aspects as dimensions present in the concept of sustainability. (Crowther & Capaldi 2008; UN Documents 2011; Filho 2000) [Refer to Figure 2] This TBL reporting standard has been established to expand transparency of corporate reporting. (Mueller, Klandt, McDonald & Finke-Schuermann 2007) Figure 2 – The Elements of Sustainability (Source: Crowther...
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...IMPORTANCE OF CSR Corporate social responsibility (CSR) is not going to solve the world’s problems. That said, CSR is a way for companies to benefit themselves while also benefiting society. When I define CSR to the uninitiated, I typically get three reactions. Some say, “Isn’t that a bunch of greenwashing?” Others use a non-so-nice word to describe male bovine excrement instead of greenwashing. Still others say my definition sounds like an inspiring call to action to soothe the ills of capitalism. Then there are those who say CSR is like a begrudging call to Woodstock to sing Kumbaya – something only “hippies” could dream up. So what’s a CSR professional supposed to do when faced with such a varied response? Typically, I step on top of my soapbox to declare the six business reasons why companies should embrace corporate social responsibility. Companies that “get it” are the ones that are using CSR (or sustainability as I prefer to call it) as a way to push the following business processes into the organization: 1. Innovation – I know, I know, it’s an over-used term. Just typing the word into Amazon will bring up nearly 150,000 items. But in the context of CSR, innovation is a huge benefit to a company and society. For example, I recently watched a video of a brief talk by Geoff McDonald who is the Unilever Global VP for HR, Marketing, Communications and Sustainability. Using the “lens of sustainability” as McDonald described it, Unilever was able to innovate new products...
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...Strandberg Consulting MAY 2009 CSR and HR Management Issue Brief and Roadmap 2 ISSUE BRIEF AND ROADMAP OBJECTIVE • To understand the foundational elements that need to be in place to foster a high performance CSR (corporate social responsibility) organization and develop a framework or roadmap for firms wishing to become a high performing CSR organization. AT A GLANCE • Human resource professionals have a key role to play to help a company achieve its CSR objectives. Employee involvement is a critical success factor for CSR performance. Human resource managers have the tools and the opportunity to leverage employee commitment to, and engagement in, the firm’s CSR strategy. • High performing CSR organizations foster a culture of CSR and fully integrate CSR throughout their operations, rewarding and incentivizing CSR decisions and initiatives. • Employees prefer to work for organizations aligned with their values; thus, incorporating CSR into the employee brand can enhance recruitment and retention, particularly in tight labour markets. • CSR can be applied to the HR toolkit, resulting in a roadmap or pathway for human resource practitioners to follow who wish to contribute to the achievement of their organization’s sustainability and business aspirations, thereby improving social and environmental conditions locally and globally. CSR and HR Management Issue Brief and Roadmap 3 CSR and HR Management Issue Brief and Roadmap 4 CSR and HR Management Issue Brief...
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...CSR 2014 www.educationpost.com.hk/csr2014 MBAs and social responsibility The green trend in business Lowdown on courses and events Hong Kong Brazil Singapore Miami Manchester Shanghai Dubai 25 Nobel Prize Winners 22 4 Top in Hong Kong * | World 34 # | 6th in UK * | 14th in Europe * years in Hong Kong 3 Accreditations + Registration No. 250144. It is a matter of discretion for individual employers to recognise any qualification to which this course may lead. Source: * Financial Times ranking 2014 # Financial Times 3 year average rank (2012-14) + Part of 1% of business schools to be awarded tripe accreditation status (AMBA, EQUIS, AACSB) Original Thinking Applied CONTENTS CSR 2014 04 The Trend The rise of CSR in business education 07 Case Study 10 Teaching CSR 14 16 18 Event The green trend in business Advertorial Economy MBAs and social responsibility Industry 08 CSR 2014 Lowdown on courses and events Oil companies and MBAs: a pipeline for corporate social responsibility www.educationpost.com.hk/csr2014 MBS stresses importance of social responsibility Teaching China’s business leaders the importance of CSR PolyU means business when it comes to creating a better world 04 07 08 10 14 16 18 Corporate social responsibility will revitalise the world’s economy CUHK CSR case competition winner will be awarded a Swire...
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...Government is often seen as the answer to society’s problems, but spending by the Government of Developing countries alone will likely be insufficient to address these critical issues. governments can encourage contributions from the private sector by passing legislation and using its purchasing power to create a supportive, enabling environment. Philanthropy can also help catalyze change, but charity has a limited ability to sustainably achieve scale. The private sector, however, possesses skills and technologies necessary for innovation, and excels at developing sustainable solutions to identified needs and taking such solutions to scale. Creating shared value is more effective than traditional approaches. Corporate social responsibility (CSR) has been the primary mechanism by which Developing countrie’s companies have contributed to societal development. Domestic corporations have long believed that...
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...Borsa Istanbul 100 index companies between the years 2010 and 2012. In order to test our hypothesis that the companies issuing corporate social responsibility reports have higher performance in terms of financial accounting ratios, we applied a logistic regression analysis. Corporate social responsibility was used as the dependent variable and financial performance measures, firm size, firm risk, and type of ownership as independent variables. We found that there was a significant relationship between company size and corporate social responsibility. We were not able to find any significant relationship between financial performance, risk, type of ownership and corporate social responsibility. Key Words: Corporate Social Responsibility, Sustainability Reporting, Financial Performance TÜRKİYE’DE KURUMSAL SOSYAL SORUMLULUK VE FİNANSAL PERFORMANS ARASINDAKİ İLİŞKİNİN ARAŞTIRILMASI Özet: Bu çalışmada, kurumsal sosyal sorumluluk ile finansal performans arasındaki ilişki Borsa İstanbul 100 endeksinde yeralan şirketlerin 2010-2012 yılları arasındaki verileri esas alınarak incelenmiştir. Kurumsal sosyal sorumluluk raporu yayınlayan şirketlerin finansal muhasebe oranları açısından daha yüksek performansa sahip olduğu hipotezini test etmek amacıyla lojistik regresyon analizi uygulanmıştır. Kurumsal sosyal sorumluluk bağımlı değişken, finansal performans oranları, firma büyüklüğü, firma riski ve ortaklık yapısı bağımsız değişken olarak kullanılmıştır. Şirket büyüklüğü ile kurumsal sosyal sorumluluk...
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...In today's business, the idea of Corporate Social Responsibility (CSR) is well-known that corporations should act in a social responsible manner. With the growth of globalization of multinational and transnational operations, corporations are becoming more connected and in a world that is striving to improve one's conceptions in social responsibilities. Corporate governance had been a prime focus for many businesses; however, there is more interest for the integration of CSR elements in a company's mission and values, risk management and business strategy, and CSR performance reporting. (Strandberg 2008) CSR seeks to deliver economic, social and environmental considerations while managing sustainability in the short-term and long-term decision making of a corporation. In many corporations, the board of directors roles and responsibilities is to provide the overall direction and strategy for the business (Boland 2009). With the growing interest of CSR, it puts more speculation on the activities and decisions directors make for the organization's day to day operations which affects stakeholders, investors, employees and customers. This causes a conflict on the compensation of the directors or officers. A corporation that is too focused on maintaining sustainability through CSR will take away of the performance and objectives of the company. On the other end, corporations that do not participate in CSR or CSR is not an important aspect in their strategy will suffer poor perceptions...
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...Introduction As the theoretical framework of CSR evolves, there is increasing focus on the interaction between internal capabilities and business activities with the external environment. Aras and Crowther (2007) integrated key attributes of sustainable activities, namely Societal influence, Environmental impact, Organisational culture and Finance, in conjunction with internal-external and short-term long-term context to develop the sustainable development guiding framework for corporations, i.e. Model of Sustainable Development. Visser (2010) proposed the concept of CSR 2.0, highlighting five dimensions (C)reativity, (S)calability, (R)esponsiveness, (2) glo-cality and 0) or circularity as the five targets for future CSR activities. Unilever’s CSR efforts in 2012 are analysed using the above models and short conclusions are drawn about the effectiveness and overall accountability and transparency achieved by the company. Model of Sustainable Development Theoretical Background Many executives are realising that an enterprise’s environmental and societal impacts influence business long term viability as much as financial performance (Lawler and Worley, 2012). This trend is clearly presented in a recent study by the United Nations (2013) since 96% of surveyed CEOS believe that sustainability is crucial to future success of their companies and they have certain plans to ensure sustainability. Owing to the importance of sustainability in contemporary business, it is of utmost...
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