...The four main dimensions of corporate responsibility For CSR to be accepted by a conscientious business person, it should be framed in such a way that the entire range of business responsibilities is embraced. It is suggested here that four kinds of social responsibilities constitute CSR; Economic, Legal, Ethical and Philanthropic. These four categories or components of CSR are commonly depicted as a pyramid . Economic Responsibilities A company's first responsibility is its economical responsibility. As such, its principal role is to produce goods and services that consumers needed and wanted and to make an acceptable profit in the process. A company needs to be primarily concerned with turning a profit. This is for the simple fact that if a company does not make money, it cannot stay afloat, employees will lose jobs and the company will be unable to take care of its social responsibilities. At some point the idea of the profit motive got transformed into a notion of maximum profits, and this has been an enduring value ever since. All other business responsibilities are predicated upon the economic responsibility of the firm, because without it the others become moot considerations. The table below shows the components of economical responsibilities | Components of Economical responsibility | 1. | It is important to perform in a manner consistent with maximizing earnings per share | 2. | It is important to be committed to being as profitable as possible | 3. | It is important...
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...Corporate Social Responsibility October 2, 2012 Pr. Katrina Kerr The definition of corporate social responsibility Introduction The corporate social responsibility ( CSR) seems to be came in the beginning of the millennium after so many wrong actions in past decades. May be, after the shock of scandals business such as Enron, WorldCom and Parmalat, also with the effect of weather change on the environment, all in consider have make many companies and organizations to rethink about their responsibilities towards their customers and stakeholders. Nowadays, business suggested that CSR is a normative, has different levels of concepts, which definition depends on many different of views and relationships, and changes in response to social directions (Silberhorn & Warren, 2007) . This study will examine how CSR is defined from different perspectives. There are different businesses see CSR from different concepts, they have their own trends. By looking at statement of missions of large companies publish on their web sites, we will find it explores their social responsibility and there view for their nation. Some businesses see CSR is about making profit. Unlike others businesses, attempt to do more than to make a profit (Struijk, 2012). Despite the fact that the main responsibility of a firm is to make a profit, in order to provide a product or excellent service that people are looking for. For example, some of companies could be responsible investing into some social activity...
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...Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders, Business Horizons, July-August 1991 For the better part of 30 years now, corporate executives have struggled with the issue of the firm’s responsibility to its society. Early on it was argued by some that the corporation' sole responsibility was to provide a maximum financial return to s shareholders. It became quickly apparent to everyone, however, that this pursuit of financial gain had to rake place within the laws of the land. Though social activist groups and others throughout the 1960s advocated a broader notion of corporate responsibility, it was not until the significant social legislation of the early 1970s that this message became indelibly clear as a result of the creation of the Environmental Protection Agency (EPA), the Equal Employment Opportunity Commission (EEOC). the Occupational Safety and Health Administration (OSHA), and the Consumer Product Safety" Commission (CPSC). These new governmental bodies established that national public policy now officially recognized the environment. employees, and consumers to be significant and legitimate stakeholders of business. From that time on, corporate executives have had to wrestle with how they balance their commitments to the corporation' owners with their s obligations to an ever-broadening group of stakeholders who claim both legal and ethical rights. This article will explore the nature of corporate social responsibility (CSR)...
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...The role of Leadership in Organizational Integrity, and five modes of Ethical Leadership Components of Ethical Leadership. Ethical leadership begins with the way leaders perceive and conceptualize the world around them. Ethical leadership, organizational ethics, and social responsibility are inseparable concepts. They are developing concepts, to be sure, but inseparable. How ethical leaders relate to and come to understand the world around them involves judgment and action. These can be developed. In sum, the leader's role is to guide the human potential of the organization's stakeholders to achieve organizational aspirations in ways that liberate rather constrain their imaginations and judgment. Ethical leadership must, then, be effective, efficient, and excellent if it is not to waste human potential. It is not enough to be ethical in one's individual actions to be an ethical leader. To be effective, efficient, and excellent, four components of ethical leadership must be understood and developed: purpose, knowledge, authority, and trust. The relationship between these four components can be visualized as interrelated components, as described in the figure opposite. Attention to any one component alone is incomplete and misleading. * Purpose-The ethical leader reasons and acts with organizational purposes firmly in mind. This provides focus and consistency. * Knowledge-The ethical leader has the knowledge to judge and act prudently. This knowledge is found...
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...The role of ethics and social responsibility aids organizations in developing a strong strategic plan, while addressing the needs of stakeholders. Ethics and social responsibility require social awareness to address the needs of the environment and to increase the knowledge of employees, which will lead to a corporation focused on supplying the customer with what is needed, managers equipped with solid decision-making abilities, and employees who believe that he or she are an asset to the business. It is the executive manager’s responsibility to establish a clear vision for the corporation and place a specific focus on understanding stakeholder’s needs. In an effort to support these requirements agendas and regulations will be developed to maintain and enforce business ethics within the organization. It is vital for an organization to establish a firm code of ethics for employees and managers to agree and adhere to equality within the organization. Establishing a universal understanding of ethics and expanding the knowledge and of ethics will strengthen the corporation socially by enforcing respect towards everyone, respect for the organization and a corporation that is working together to form a universal business. Ethics are the morals, values, and beliefs of individuals it is the right and wrong behavior and believes of individuals. The importance of establishing and maintain an ethical business is to prevent various types of litigations against the company; protecting the...
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...Education: Corporate Social Responsibility, Stakeholders and the Managerial Role Abstract The purpose of this paper is to examine three themes that have been discussed in our Management Process and Organizational Theory course: Corporate Social Responsibility, the Stakeholders, and Managerial Roles. Corporate Social Responsibility emphasizes the commitment an organization makes to achieve greatness following the law and making a profit. The discussion of managers and their roles considers how certain kinds of manager’s function as it relates to making a decision. A stakeholder’s involvement in an organization is crucial to that organization and how the organization influences society or their surrounding community. All three of these themes are being analyzed from the aspect of higher education. Many discussions have been held in which the components of organizational theory, management, and organizations have been examined. This paper intends to take the three themes and analyze how they are applied to or affected by higher education, since higher education (undergraduate, graduate, post-graduate levels) as an organization helps prepare individuals for the workplace to potentially become a manager or even stakeholder and practice Corporate Social Responsibility. Corporate Social Responsibility The concept of Corporate Social Responsibility is a relatively new phrase having only been used since the 1960s. In 1960, Keith Davis suggested that social responsibility refers to businesses’...
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...Study 3 1. Discuss the four components of corporate social responsibility and how they relate to a charitable campaign such as (Product) RED. How does participation in a cause-marketing event contribute to a company's social responsibility? What role does sustainability play? The four components of corporate social responsibility are Economic responsibilities by being profitable to the company, Legal responsibilities by obeying the law or playing by the rule, Ethical responsibilities by being ethical in carrying business and Philanthropic responsibilities by being a good corporate citizen and also by improving the quality and standard of living of the community and society. Economic performance is important as the foundation of the other three responsibilities, because if it does not achieve good performance, the other three responsibilities will be questionable. This company shows their participation in a cause-marketing event as the core values for this campaign and that not only the companies but the consumers can contribute to the cause to fight HIV/AIDS. Bono and Bobby Shriver, came up with a product that showed that companies could still make money and contribute to a great cause. Sustainability play is latest theory for social responsibility. It is the idea which suggests that business organizations which are more socially responsible will eventually outperform their peers, rivals or competitors by focusing on the world’s social problem and seeing them as...
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...‘Corporate Social Responsibility’ strategies important for enterprises? Prof. Dr. Jose M. Magone LV 400591.01 Work, Business & Society Berlin, 2011 Abstract Nowadays, the importance of social responsibility activities is growing awareness for companies.It is directly related to your business and if you want to have long term business success, you have to create value for the society.People are aware of the social and environmental problems of society.In this technology time, it is so easy to reach the information whatever they want They always follow the daily news from the world and care about them.Due to the fact that paying for the strategies of CSR increases attention to the corporation.Companies’ understanding of social responsibility should always be the part of their investment strategy.They should regard the “Corporate Social Responsibility” as a business management philosophy not as a social activity.It definitely provides sustainability to the business.The purpose of this essay is to explain why “Corporate Social Responsibility” strategies are so important for enterprises.Firstly I will explain the theoretical information about criterias and framework of CSR and then I will support the facts by giving examples from the international companies to clarify the reasons of importance well. Index of Abbreviations The abbreviation used throughout on this essay is presented below; CSR – Corporate Social Responsibility ...
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...TOPIC OR UNIT OF STUDY | Business Ethics and Social Responsibility | CONTENT STANDARD(S) AND OBJECTIVE(S) | Students will * point out the areas in which businesses demonstrate social responsibility and ethics. * recognize consumerism. * determine current trends to improve the workplace for employees. * research how regulatory agencies protect consumers, workers, and the environment. | INTRODUCTION | Review with students how to prepare unbound reports. Have a class discussion of the 4 components of social responsibility and ethics. Discuss how business people use values to make decisions that are acquired through family, educational, social and religious institutions. Discuss business code of ethics and how it serves as a guideline to help managers and other employees in any organization make better decisionsStudents will conduct on-line research of 5 major corporate websites in order to write a code of ethics for a fictitious company they will create. The students will then describe how these ethical guidelines relate to any or all of the four (4) components of social responsibility. Students will look at 2-3 companies that have practiced unethical behavior. The students will make a multi-media presentation to the class describing any relationship between their company’s code of ethics and the four components of social responsibility. | ESSENTIAL QUESTION | What is ethical behavior and social responsibility | INTEGRATION OF ACADEMICS, TECHNOLOGY, ENTREPRENEURSHIP...
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...TABLE OF CONTENTS 1.0. INTRODUCTION 2 2.0. INTEGRATED MARKETING 3 3.0. INTERNAL MARKETING 5 4.0. RELATIONSHIP MARKETING 7 5.0. PERFORMANCE MARKETING OR SOCIAL RESPONSIBILITY MARKETING 8 6.0. CONCLUSION 10 7.0. REFERENCE 11 1.0. INTRODUCTION Holistic marketing concept is based on the development, design and implementation of marketing programs, process and activities that recognize their breadth and interdependencies. Holistic marketing recognizes that everything matters with marketing and that a broad integrated perspective is necessary to attain the best solution. Holistic Marketing is a great tool for any business whether you are a therapist, practitioner, consultant, or any other type of business one wishes to market effectively. The first step in Holistic Marketing is to start to the soul searching process. You need to look inside yourself in order to figure out what is going on in your life and what you wish to accomplish. Ask questions that will help figure out what inner strengths that you may possess, then figure out how to draw on those strengths. Another step is to figure out what you and the potential clients have in common. Clients need to be able to feel comfortable and trust who they are doing business with, no matter what field of expertise it might be. No one is going to see a doctor if they don't feel comfortable with them. The next part of Holistic Marketing is that the individual marketing their skills or product needs...
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...Mid-Term/Exam Review * Material covered from chapters 1-7 * From managers and managing to individual and group decision making process * Exam will be a series of short essay questions and multiple choices * The exam is at ART 026 Question 1: What is Management Explain the different parts of the formal definition? Management is a process, involving a series of activities and operations, such as planning, organizing, leading and controlling an enterprises financial, physical, human and information resources to achieve the organizations goal of supplying various products and services to consumers Finally, management involves activities carried out in an organizational setting by people with different functions intentionally structured and coordinated to achieve common purposes. Basically the management is structured around the areas of financial, human resources, operation, and marketing and information organizational functions. Question 2: what creates the personality of an organization? Each organization has its own personality created by the experiences, skills, personalities, and mannerisms among the people who make up the organization. Question 3: Complete the sentence: The rational decision making process requires to …… 1) Evaluate the effectiveness of their decision 2) Make sure that the chosen alternative has served its original purpose 3) Adopt an alternative that had previously been discarded 4) Recognize that the situation...
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...Part I: Case Study 1. Discuss the four components of corporate social responsibility (CSR) and how they relate to a charitable campaign such as (Product) RED. How does participation in a cause-marketing event contribute to a company’s CSR? What roles does sustainability play? Corporate social responsibility is the activities of an organization that address the impact of its activities on the environments and society. The four components of corporate social responsibility include employees, environment, customers and society. RED mainly focuses on two facets of CSR (customers and society) by creating products that satisfy consumer needs while at the same time providing funds for a charitable course, the Global Fund to fight HIV/AIDS in Africa. The company has emphasized on the core values for the campaign as the reason for having the cause marketing. Therefore, the contributions will be made by both consumers and the companies involved. The founders, Bono and Bobby Shriver, have indicated the viability of the campaign in companies being able to make money at the same time contributing to a great cause. Sustainability is crucial for crucial for this cause marketing. Julia Cordua, the marketing VP, indicates that Boo and Bobby Shriver were keen on a long term event that would last five to ten years of making donations, Gap offered 100% of its profits but they refused since the companies involved in the market had to make profits to sustain their businesses. 2. Do you...
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...Business & Society http://bas.sagepub.com Corporate Social Responsibility: Evolution of a Definitional Construct Archie B. Carroll Business Society 1999; 38; 268 DOI: 10.1177/000765039903800303 The online version of this article can be found at: http://bas.sagepub.com/cgi/content/abstract/38/3/268 Published by: http://www.sagepublications.com On behalf of: International Association for Business and Society Additional services and information for Business & Society can be found at: Email Alerts: http://bas.sagepub.com/cgi/alerts Subscriptions: http://bas.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Citations http://bas.sagepub.com/cgi/content/refs/38/3/268 Downloaded from http://bas.sagepub.com at Biblioteca di Ateneo - Trento on April 28, 2010 Carroll / CORPORATE SOCIAL RESPONSIBILITY BUSINESS & SOCIETY / September 1999 Corporate Social Responsibility Evolution of a Definitional Construct ARCHIE B. CARROLL University of Georgia There is an impressive history associated with the evolution of the concept and definition of corporate social responsibility (CSR). In this article, the author traces the evolution of the CSR construct beginning in the 1950s, which marks the modern era of CSR. Definitions expanded during the 1960s and proliferated during the 1970s. In the 1980s, there were fewer new definitions, more empirical research, and alternative themes...
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...Assignment 1: Social Media La-Nika Romain Gayles Professor Scott Levassuer Business Law I August 10, 2014 Assignment 1: Social Media In this paper, I will explain how Facebook utilizes the four components of legal astute social media marketing manager who utilizes social media outlets for consumer transactions and how each component can mitigate the risk involved in doing business in cyberspace. I will also list and analyze methods of alternative dispute resolutions and determine which would be most effective in resolving genuine disputes that may arise with consumers who may make purchases from links affiliated with social media. In addition I will examine how the federal government make control these transactions, since these transactions can occur across state lines. I will also examine the (3) branches of government and discuss which can make the most significant impact on regulating consumer transactions via social media. Lastly I will explain the agency relationship that exists on social media provider, and business that utilizes sites for advertisement. Social Media Facebook is a very popular social media site where users can express the way the feel freely without being judge. On this specific site they user can post pictures, videos and very amusing status. This site is also a way a person can keep in touch with family and friends from near and far. I can additionally say that I am also a member of the Facebook trend that has caught on and I have been...
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...RAMP Components Name Course Instructor Institution Date Introduction Research carried out on 48 virtual teams that had different effectiveness depicted that there were five characteristics and practices that distinguished between the highest and lowest performing virtual teams. These differentiators include; commitment and engagement, collaboration, information flow, shared decision making processes and trust. Below I will discuss four of the differentiators. Differentiator 1: Commitment and Engagement From the research, it shows that high performance virtual teams as being proactive, engaged and very initiative. They have a score of around 3.6 from a possible 4 points as compared to their counterparts that have a score of 3.06. These top performing teams always tend to go above and beyond so as to make sure they achieve their successes. Another reason for success would be the use of team leaders who help to motivate the others members and hence play a role in commitment and motivation. Most of the top performing teams had members that would take on leadership responsibilities and hence reduce the leader’s burden, but the low performing teams would not do so. It is crucial for virtual team members to help in sharing the official leader’s responsibilities this is because it means that they can work under less supervision and hence will be very effective in carrying out their other responsibilities than those members who cannot share the leader’s...
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