...SOCIAL RESPONSIBILITY: WHY IT’S THE RIGHT THING TO DO “Being socially responsible means that people and organizations must behave ethically and with sensitivity toward social, cultural, economic and environmental issues. Striving for social responsibility helps individuals, organizations and governments have a positive impact on development, business and society with a positive contribution to bottom-line results,” (http://www.imasocialentrepreneur.com/social-responsibility/). In layman’s terms, corporations have a responsibility to serve the community while providing goods and services and making a profit. Business Law author Henry Cheeseman identifies the four theories of social responsibility as: a) maximizing profits, b) moral minimum, c) stakeholder interest, and d) corporate citizenship. In order to comply with social responsibility standards, all requirements must be met. Unfortunately, not all business owners feel obligated to be fully socially responsible. T.J. Rodgers, founder and CEO of Cypress Semiconductor, is one who does not. His primary interests are in maximizing profits and stakeholder interests. Whole Foods CEO John Mackey, on the other hand, fully grasps the idea of and practices all aspects of social responsibility. There are legitimate arguments for and against businesses performing social responsibility activities. The strongest argument in support of social responsibility is that because businesses have such a profound impact on their communities...
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...1 Introduction 1.1 Background This assignment has been assigned by Mr. Gilbert for me to do a research on any topics that is related to the chapters that are available in this subject. The title of my research will be “Does CSR have any impact on company performance?” . Plato once said that, Only people with the whole nations good in mind can be allowed to rule the just state (Plato through Larsson, 2003 p. 87). Hence from this statement we can see that even in the past people do take serious about the importance of ethical behaviour. The multinational companies' spot and impact is developing in the global economy furthermore, with it higher requests on obligation regarding the social and natural impacts that originates from the organizations' own particular operations. Accordingly, there is a developing enthusiasm for corporate social responsibility (CSR). Enquist, Johnson and Camén (2005) state that after waves of generation situated and later administration arranged viewpoints on organizations, a third wave of sustainability and triple bottom line concern deduction is developing. According to (Elkington, 1997) the triple bottom line is trying to surround the three type of sustainability. Which is the economic, the environment and the social. Enquist, Johnson and Camén (2005) confirms that by saying this: Companies are paying attention to their core values and the development of a sense of corporate social responsibility, which can be used in marketing strategies and in...
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...Philippine Copyright 2015 By the Researchers and the College of Business Administration Polytechnic University of the Philippines All rights reserved. Portions of this manuscript may be reproduced with proper referencing and due acknowledgement of the author. THE IMPACT OF MCDONALD’S CORPORATE SOCIAL RESPONSIBILITY TO “BAHAY BULILIT” BENEFECIARIESIN MAKATI FOR THE YEAR 2014-2015 A Thesis Presented to the Faculty of the College of Business Administration Polytechnic University of the Philippines Sta. Mesa, Manila In Partial Fulfilment of the Requirements for the Course MARK 4113 Thesis Writing (Research II) by Aquino, Ronnie R. Arellano, Leziel A. Awid, Sharmaine Princess M. Chavez, Casmer Culala, Maria Margarita A. Madali, Alyana M. Panaguiton, Felisa L. March 2015 CERTIFICATION This thesis entitled THE IMPACT OF MCDONALD’S CORPORATE SOCIAL RESPONSIBILITY TO “BAHAY BULILIT” IN MAKATI FOR THE YEAR 2014-2015 prepared and submitted byA RONNIE R. AQUINO, LEZIEL A. ARELLANO, SHARMAINE PRINCESS M. AWID, CASMER CHAVEZ, MARIA MARGARITA CULALA, ALYANA M. MADALI, AND FELISA L. PANAGUITON in partial fulfilment of the requirements for the course MARK4113 has been examined and recommended for Oral Examination. Evaluation Committee ESTELITA E. MEDINA Adviser CRESILDA M. BRAGAS, MBA ELENA M. MAÑO, MPA Member Member MELINDA M. DE GUZMAN, DBA Member ...
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...World Journal of Social Sciences Vol. 2. No. 6. September 2012 Issue. Pp. 1 – 13 Practice of Corporate Social Responsibility in Islamic Banks of Bangladesh Quazi Sagota Samina* The evolution of Shariah based profit –loss sharing centered Islamic banking, worldwide has changed the thought of financial institutions even of the developed countries in the west. On the other hand the recognition of importance of corporate social activities in the business organizations as well as in financial institutions has accelerated the significance of Islamic banks as in Islam these CSR practice have been emphasized in different ways. Likewise the Islamic financial institutions all over the world, Islamic banks in Bangladesh are also being engaged in various social activities as a part of their responsibilities. In this study it has been tried to find out whether the Islamic Banks of Bangladesh are adhering to the prescribed forms of the CSR activities or not. This paper is mainly designed based on the CSR forms to be followed by Islamic banks as has been prescribed by Farook (2007) in his study “On Corporate Social Responsibility of Islamic Financial Institutions” under the light of Islamic Shariah. The research found compliance to the mandatory forms by the 6 full fledged sample Islamic banks in Bangladesh whereas variety in involvement in recommended forms of CSR activities by considering the scenario of banks from 2007 to 2011. The study also finds a strong positive correlation between CSR...
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...STOCKHOLM SCHOOL OF ECONOMICS Master thesis within Finance Evaluating the Performance of Socially Responsible Investment Funds: A Holding Data Analysis H. Camilla Stenström* Jessica J. Thorell** Abstract: This paper investigates the performance of regular mutual funds compared to Socially Responsible Investment (SRI) mutual funds, over the time period of January 2001 to September 2007. The paper extends the research on the performance of SRI funds by using holding data of regular funds to create replicating portfolios. In the replicating portfolios, unethical investments are excluded according to a norm-based screening list, hence creating artificial SRI funds. The replicating portfolio returns are then used as a benchmark to compare against the SRI funds’ and regular funds’ returns. Results from the study indicate that an exclusion of companies according to norm-based screening can improve a fund’s performance. However, when looking specifically at the fund management of SRI funds, the results point towards inferior performance compared to regular funds. Key Words: Socially Responsible Investment (SRI) funds, ethical investments, holding data analysis, norm-based screening PhD Stefan Engström 13:15-15:00, December 14, 2007 Room 349, Stockholm School of Economics Tutor: Presentation: Venue: * 19873@student.hhs.se ** 19924@student.hhs.se H.C. Stenström and J.J. Thorell ACKNOWLEDGEMENTS Special thanks to tutor PhD Stefan Engström for all support and guidance...
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...1a. Describe THOUGHTFULLY why it is important to understand the roles and functions of investment theory and social responsibility in a global economy. Ans.) The concept of social responsibility was not just conceptually valid, but could also be framed as a valid statistical construct. Social responsibility had been positively associated with financial outcomes. Typical socially responsible investors tilt their portfolios toward stocks of companies with high scores on social responsibility characteristics and shun stocks of companies associated with tobacco, alcohol, gambling, firearms, and military or nuclear operations. Analyzing 1992-2007 returns of stocks rated on social responsibility, study found that this tilt gave such investors an advantage over conventional investors. The study also found that shunning resulted in a disadvantage for such investors relative to conventional investors. The advantage from tilting toward stocks of companies with high social responsibility scores is largely offset by the disadvantage from the exclusion of stocks of shunned companies. Socially responsible investors can thus do both well and good by adopting the best-in-class method in constructing their portfolios: tilting toward stocks of companies with high scores on social responsibility characteristics but refraining from shunning stocks of any company. Social responsibility is an ethical ideology or theory that an entity, be it an organization or individual, has an obligation to...
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...Bottom of Form Email Sent! You have successfully emailed the post. Green Banking For Small Businesses Tim Chen, NerdWallet | Sep. 6, 2011, 9:07 PM | 635 | In an increasingly eco-conscious market, many small businesses are finding creative ways to go green. Whether it’s improving their energy efficiency, buying organic products, composting or just turning off electronics at night, being green means all sorts of things to different people. One small thing you may not have considered is green banking. Most banks have at least one green initiative in place (or claim to), and a few have made the extra effort to distinguish themselves as green businesses. But what does “green banking” mean exactly? Depending on whom you ask, it’s a marketing term, a social philosophy, an investment strategy, and everything in between. However, if you’re an entrepreneur, you probably want to know if it makes sense on a business level. The answer is yes! You’ll save money, you’ll help the planet, and if you’re already running a green business, it’s a great next step. That said, if you’re serious about getting a greener banking experience, you’re going to have to look at facts, not fluff. What is your bank really doing to be more environmentally friendly? Have they cut back on their paper and energy use? Do they invest in sustainable or green businesses? Do they give back to the local community in any way, or give money to charity? You don’t need to do that much digging to get some...
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...International business, corporate social responsibility and sustainable development This article discusses the issue of corporate social responsibility (CSR) and the sustainable development which associate with international business (IB) and the multinational enterprises (MNEs) role in these matters. The social and environmental problems caused by international business have emerged for a period, however, they only being seen as an important issue under the pressure of global problems such as climate change, poverty, human rights violation and HIV. In this situation, MNEs have to play an appropriate role using their global activities and influences as these issues exist as both a problem and an opportunity for MNEs. In the modern globalization era, the landscape of international business is no longer like a decade ago or past few decades. Therefore, MNEs will need to adjust their internationalization strategy to better suit with today’s globalization challenges. CSR is now considered something to be taken into account in MNEs in order to compete better in market. CSR activities are gradually become important as they influence the core business of the firm and determine firm’s ability to grow, earn profit and sustain in the tough environment. Some firms are actually work hard with CSR in order to get the competitive advantages in managing international operation or earning a ‘pass’ to operate business in countries with different cultures and values or different institutional...
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...that organizational values are more important today than at any other time in history because the personal and societal context within which business operates is changing. Who you are as an organization, and what you stand for, is just as important as what you sell. The values that an organization lives by are important to a variety of stakeholders: Societal: Organizational values need to meet society’s expectations with regard to environmental stewardship and social responsibility. Failure to support society’s values can have a very significant impact on financial performance. Shareholders: Organizational values need to meet the needs of the new breed of shareholders that are only investing in companies that: (a) meet socially responsible investment criteria; and (b) compete to be the best companies to work for, or other quality awards. Potential employees: To attract the best people, the organizational values need to meet the needs of potential new employees who are choosing to work in organizational cultures...
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...BAE Business Report on Woolworths LIU Ying (Rina) 22967 BAE 4 2012.01.10 TABLES OF CONTENTS EXECUTIVE SUMMARY……………………………………………………………………ⅰ INTRODUCTION……………………………………………………………………………….1 Evaluation of company in terms of an ethical issue…………2 Evaluation of company in financial terms of profitability…..4 Recommendation…………………………………………………..5 References…………………………………………………………..7 Executive Summary The purpose of this report is to provide an ethical and financial evaluation of Woolworths for a client to help him decide whether to invest in this company. The respect for the right of employees was chosen as an ethical issue and the company was evaluated from two aspects: the right of employees and safety. Profitability was the financial factor which was also be used for the evaluation. Woolworths has showed respect for the rights of employees and performed well in achieving safety standards for employees. It is an ethical company. In addition, the profit of Woolworths is going up every year and there is an upward trend in the profit. Thus, the recommendation of this report is that Woolworths is an ethical company with an ability to gain profit, which is good for investment. Introduction This report aims at evaluating the company of Woolworth from ethical and financial aspects to help a client who is interested in ethical investing. So the client can make a decision as to...
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...Case study: Nike’s CSR Challenge After the widespread report on the workers of Nike in the plantation in 2005, Nike worked on the reports of social and environmental practices. Nike needs to consider the welfare of the workers and the profits they are earning. Nike’s future depends on the reconstructing the information that are being sent to customers, suppliers, investors, so that company is sustainable as well as profitable. Changing the rules and regulation is not only enough but they should also engage in transcending leadership and should be able to resolve systematic problems to achieve the goals of the organization. If they don’t make any changes in the financial markets, all their changes are worthless. 1) What are the challenges regarding corporate social responsibility that companies in the apparel industry face in its supply chains around the world? * There were many cases found such as mistreating employees in more than one third of Nike’s south Asian plants. There were also reports claiming most of the factories in the same region didn’t allow access to toilet or to drink water. And in some factories the workers were forced to work all seven days of the week. They were also paid below the minimum and were also punished if they refused to work overtime. They wanted to reconstruct the signals being given out so that they could be sustainable as well as profitable. 2) Discuss the meaning and implications of the statement by a Nike representative that “Consumers...
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...its employees. With this in mind, it is important for each and every business to be socially responsible. According to Meeting Professionals International, “social responsibility” is defined as the responsibility of an organization for the impacts of its decisions and activities on the society, the environment, and its own prosperity. (“Committed to Improving Our World”, 2012). This approach does two things: It helps to build the company’s reputation which will have a great impact on its customer base, and it also gives back to the community, which in turn helps our economy. In a price-conscious world, it is difficult for businesses to welcome the idea of “giving back” to the community. However, in the long run, giving back is what will help to increase the customer base over time. After all, the community that the business is giving back to is the same community that provides daily financial support for the business. Company Q faces several challenges that further goes to support why it should practice social responsibility. Being a small chain store in a big metropolitan area, the competition alone from the big brands stands to reason why Company Q should opt to support certain philanthropic activities, even it means taking a small loss in the beginning. Currently, it appears that Company Q is rather closed-minded toward being socially responsible. There are three areas where I would recommend Company Q improve as it relates to social responsibility...
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...Third Assignment Title: ‘Imagine that you are the CEO of Syngenta, a global agricultural chemicals supply company based in Basle, Switzerland. Read the article about the ‘Pesticide Nun’, then review your strategic options and outline your decision for the future of the UK business.’ Write a statement of the purpose of this assignment. Then identify three sub-questions to be answered: 1.1 What is Syngenta and what does it do? 1.2 Company’s statement of Corporate Responsibility 1.3 Consideration of the evidence presented in the article ‘Pesticide Nun’ 1.4 Strategic positions that Syngenta might take and the conclusion The purpose of this assignment is to consider the evidence of the article ‘Pesticide Nun’ and implications of this ruling for both the UK and the global business of Syngenta. Furthermore, company’s statement of Corporate Responsibility will be discussed and then in the end the conclusion will be drawn with the decision for the future of the UK business. 1.1. Syngenta is a world-leading plant science company based in Basel, Switzerland which promotes sustainable agriculture through inventive technology and research. Furthermore, the company ranks third in the high value commercial seeds market and is a leader in crop protection products (pesticides) (Syngenta, 2009). It has more than 24,000 employees in over 90 countries committed to the purpose to bring plant potential to life. Moreover, through global reach, world-class science and obligation to the customers...
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...TIMBERLAND’S MODEL OF CORPORATE SOCIAL RESPONSIBILITY TIMBERLAND’S MODEL OF CORPORATE SOCIAL RESPONSIBILITY Timberland is a manufacturer of rugged outdoor boots, clothing, and accessories. Founded in1918 in Boston by an immigrant shoemaker named Nathan Swartz, the company has been run for almost a century by three generations of the Swartz family. Today, the company sells its product in department and specialty stores as well as in its own retail outlets in North America, Europe, Asia, South Africa, Latin America, and the Middle East. Although the company was taken public in 1987, the Swartz family and its trust and charitable foundations continue to hold about 48 percent of Timberland stock. The company’s mission embodies a strong social responsibility theme “: to equip people to make a difference in their world. We do this by creating outstanding products and by trying to make a differene in the communities where we live and work.” In 1989, Timberland was approached by City Year, an urban service corps, for young people, with a request for a donation of boots. Jeff Swartz, a grandson of the founder and CEO, said yes and agreed to join the corps for half a day of community service. Swartz later described his experience: I found myself, not a mile from our headquarters…face to face with a vision [of] America not unlike the one that drew my grandfather to leave Russia in steerage so many years ago. I spent four hours with the corps members from City Year and some young recovering...
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...logical fallacies that constitute abstract relations meant to stir the emotions of the reader. By creating a false society where income and collective good are mutually exclusive, social accountability compares to communism, and workers are separated from the society. Friedman’s narrow argument is devoid of scale and methodical firmness and fails to persuade the reader of its logical qualities. This commentary aims at clarifying the significance of corporate social responsibility and establishes how organizations can achieve their profit motives in a socially responsible manner. First, Friedman pushes the reader to take his side by creating an abstract division amid profits and social accountability. In his view of a capitalist economy, the one and only responsibility of a corporation is to use its possessions and participate in actions aimed at increasing its profits. Business people can pursue a socially responsible course without the objectionable results claimed. Contrary to Friedman’s view, broad social responsibility that is common today requires businesses to interpret ethical norms more extensively than it features in Friedman’s assertion....
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