...DISCUSS CORPORATE SOCIAL RESPONSIBITY IN BUSINESS. INTRODUCTION Corporate social responsibility is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders. Corporate Social Responsibility can also be defined as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large Importance of corporate social responsibility Corporate social responsibility Attracts and Retains Employees Employees are our most important asset and we see CSR as increasingly vital in attracting and retaining top talent. These programs give people a sense of pride in the organisation, create teamwork and are a source of inspiration and connectedness. And most importantly, they’re about “doing” rather than just “giving”. CSR is a Vital Tool to Boost Business and Employee Morale Employees want to work for companies that are good corporate citizens. They want to see that they can make a difference. And through these types of programs you’re making your organisation a better place. Staff welfare For a smaller business, extravagances can be hard to justify. However, happier staff doesn’t simply mean bonuses and...
Words: 2228 - Pages: 9
...What is Corporate Social Responsibility – Do We Need It? And Why? On 2011/05/20 · Leave a Comment In the next series of four articles I plan to explore the idea of “corporate social responsibility” (CSR). In the first one today, I shall discuss the shareholder view of CSR using Milton Friedman’s perspective as my main thesis. In the second article next week, I will explore the stakeholder view of CSR using Peter Drucker’s argument to initiate an alternate set of core ideas. In the third article, I shall take an important long detour to consider economic underdevelopment in the Middle East to highlight what happens to politics and society when the development of the corporation is impeded. In the fourth article, I reconsider the role of CSR in today’s world. The idea of CSR is to urge corporations to embrace not just the interests of shareholders, but also the interests of multiple stakeholders in the conduct of its activities. These stakeholders often include employees, suppliers, customers, and the local community in which the corporation conducts its business. CSR is a relatively new term although the idea that business has social and moral responsibilities beyond maximizing profit is much older. The term has only gained common currency since the late 1960s and the early 1970s, when the global reach of multinational corporations expanded as international trade and investment flows grew. Since then public debate over the role of business in society has been most vociferous in...
Words: 2765 - Pages: 12
...How, and to what extent, corporate social responsibility can be coordinated with an organization's obligation to maximize profits for its shareholders. Basically, the two go hand-in-hand nicely, in several ways. The company's main objective is to be profitable, or to maximize profits. In doing so, they provide a nice return on the investment for their shareholders. The company also has a CSR obligation. If the company finds the right way to mesh the two together, they continue profit maximization, and attract additional investors through sustained CSR efforts. Most companies undertake CSR initiatives that include giving back to natural resources that they have taken. Water companies (bottled water) find ways to give back, because they are using a natural resource. They generally do this by conserving various elemental environments, like starting programs to protect rain forests and similar programs. Large companies have recently become involved in various farming initiatives that have agreements whereby the company only buys from farmers that are part of a co-op, and the company donates X amount of dollars to the community where the farm is located. Many companies have recently started to use suppliers who are certified organic - farmers that do not use any type of chemicals or pesticides on their products. By taking on these types of CSR activities, the companies are showing that they plan on being profitable, and remaining in business for a long time. They're maximizing shareholder...
Words: 300 - Pages: 2
...Arturo Chavez Business Cornerstone Procter & Gamble Introduction Corporate Social Responsibility (CSR) is a concept that has been introduced and used by businesses well over half a century, Corporate Social Responsibility is all about contributing back to social society through various charity projects from where companies have earned. CSR is how Companies are doing businesses in a way that can separate them from the competition in the minds of consumers; it gives companies enormous amount of benefits such as; It helps to build good working atmosphere among its existing staff, Brand differentiations through CSR projects are also used to persuade governments and the wider public, that company is taking current issues like health and safety, diversity or the environment seriously and so avoid intervention. CSR programs also draw attention away from companies' perceived negative impacts e.g. the petroleum giant BP has run campaign to clean oil spill and also installed very visible wind-turbines on the roofs of some petrol stations in the UK. The Procter & Gamble Company P&G is one of the world largest consumer goods manufacturing companies with US $78.9 billion revenue (2010) employing over 127000 people. It is 6th most admired company in Fortune magazine 2010 list. Company is 172 years old and has grown through enormous amount of challenges and Depression. Through all this volatility, the one factor above all others that has enabled P&G to grow responsibly, which...
Words: 2590 - Pages: 11
...Corporate Social Responsibility on Workplace The concept of corporate social responsibility (CSR) that business must consider the impact of its decisions and operations on the well-being of employees and other stakeholders and not only on business owners and shareholders could influenced the development of business practices throughout the ideas of what constituted a modern workplace were first beginning to take shape. A stronger integration of social responsibility into business strategy emphasizes responsible employment practices and HR’s strategic role in communicating, protecting and maintaining business values. According to Uddin et al. (2008) social responsibility to employees extends beyond terms and conditions of the formal contract of employment. Table 1 presents the results of the analysis of the human resources related activities. The framework had fifteen disclosable items relating to human resources activities. Table 1: Selected CSR practices | CIMB Bank | | Maybank | | Public Bank | | Hong Leong Bank | Supporting local talent development | / | | / | | / | | / | Communication and engagement between management and employees | / | | / | | / | | / | Competitive remuneration (include benefits on medical and health care) | / | | / | | / | | N/A | Recognition on high performance (opportunities to performing employees) | / | | / | | / | | N/A | Thriving on workforce diversity (gender, ethnicity, culture, religion) | / | | / | | / | |...
Words: 548 - Pages: 3
...Corporate and Social Responsibility Author’s Name Institutional Affiliation The idea of Corporate Social Responsibility is becoming popular and is meeting support worldwide in recent decades. By Corporate Social Responsibility (CSR) we understand a set of long-term strategies, actions and policies that aim at contributing to the society and environment where the company is operating. The companies have a lot of power, in fact. It is especially obvious when we talk about huge multinational corporations as the effect of their activity can be easily noticed and felt by many people all over the world. To outweigh somehow the negative impact that business might have on the environment and communities, the notion of CSR was introduced. Logically, if the companies can have direct or indirect harmful influence on the surrounding world, that means, that they can also use their power and resources to do something useful for the society. Generally, CSR is a set of measures, not required by law that companies voluntarily implement in order to compensate their potentially harmful impact or to provide additional benefits to the community, thus adding value to the company name or the brands of the company. The gradual development of CSR frame and its acceptance by the people resulted in the spread of this concept and introducing it in a business realm as a normal practice. It is no surprise that now days all the multinational corporations have been already implementing the Corporate...
Words: 4373 - Pages: 18
...oCsr Synopsis Corporate social responsibility History: The history of today’s CRS theory has a long and wide spreading background. Despite the concept of CSR being growing, manifested and flourished in recent times, the late 1800s (industrial revolution) is considered to be the beginning of CSR concept and practice, when creating more productive employees were the main concern for promising business. One might argue to differentiate the social and business reason behind. Carnegie, Cadbury and Lever were among the many individuals who utilised company assets to improve the conditions of nineteenth century workers. Throughout the twentieth century, companies such as Norsk Hydro would take responsibility for social conditions in their, often isolated, company towns. According to management historian Daniel A. Wren, there were criticism of the emerging factory system in Great Britain, particularly regarding the employment of women and children, and these same issues occurred in the America as well. Reformers of both countries perceived the factory system to be the source of numerous social problems, including labour unrest, poverty, slums, and children and female labour. Wren depicted the industrial betterment/welfare movement of this early period as an uneven mixture of humanitarianism, philanthropy and business acumen. He points to industrialists such as John H. Patterson of National Cash Register as one executive instrumental in setting the course for the industrial...
Words: 293 - Pages: 2
...have moral responsibilities? * Provide an explanation of the legal structure of a corporation and the separation of ownership and management. * Outline the principal/agent argument. * Argue a case against corporations having moral responsibilities. * Present case for corporations having moral responsibilities. * What is the difference between global CSR and domestic CSR? * Case study. Examine a MNC which has had a CSR issue. * Sum up. Introduction This assignment will seek to delve upon profit making institutions, their objective on increasing shareholder value and in the quest to do so, evaluate their sole focus on economic benefits which might erode broader social benefit or harm the society. In this light, this report seeks to evaluate Corporate Social Responsibility (CSR) in theory and actual practice. In the process of evaluating, the assignment would showcase different scenarios / cases where CSR abuses or upholding the same would be examined. From such cases, arguments would be built to show how abusing business activities (Hamilton and Webster, 2012, p. 311) may have a negative impact on stakeholders and societies; and how upholding CSR values is beneficial for the society at large besides being beneficial from business standpoint as well. Globalisation has increased corporate power which is pervasive on a world wide scale and any abuses of this power has reverberating effects across the globe, an example being Lehman Brother’s management...
Words: 2895 - Pages: 12
...UNIVERSITY OF DAR ES SALAAM OFFICE OF THE DEPUTY VICE CHANCELLOR (ADMINISTRATION) INFORMATION TO CONTINUING STUDENTS FOR 2011/12 ACADEMIC YEAR The University of Dar es Salaam (UDSM) would like to inform all undergraduate students who will continue with studies in the 2011/12 academic year that studies will begin on 10th October 2011. All bonafide students should pay their share of tuition and other required fees as indicated below before they report to the University as only those who pay the fees will be processed for registration and will be allowed to access accommodation and other university facilities/services Payment should be made through: 1. The University of Dar es Salaam Main Campus (UDSM) NBC Bank Account Number 040103001709 (UDSM Branch) or CRDB Bank Account Number 01J1088967000 (UDSM Branch). 2. The Dar es Salaam University College of Education (DUCE) NBC Account Number 071101000196 (Chang’ombe Branch). 3. The Mkwawa University College of Education (MUCE) CRDB Account Number 01J1071134810 (Mkwawa Branch). 4. For those using international telegraphic transfer, the Swift Code is NLCBTZTX for NBC Bank and CORUTZTZ for CRDB Bank. Students should keep the original pay-in slips for submission to the University. 1 Fee Matrices for Undergraduate Students 2011/2012 Second and Third Year Grade Percentage Approved Tuition Fees COLLEGE/SCHOOL Means Testing A 0% Payable Tuition Fees B 10% Payable Tuition Fees C 20% Payable Tuition Fees D 30% Payable...
Words: 1250 - Pages: 5
...Ethics and Social Responsibility Ethics are important in the business world because these days most of the businesses are dealing with a diverse culture and global environment. Organizations or companies should not only concentrate on the profit and loss of the company but also focus on the ethics in the business too. Ethical business behavior can be encouraged in ourselves and others by understanding the term ‘ethics’. Ethics in the workplace is important because good ethics represents a civilized society. Organizations have responsibilities towards the society to fulfill their customers’ need. More often it happens that companies are criticized for their unethical decisions because of the difference in values between the stakeholders and the business people. The common scenario in most of the businesses or organizations is that some business people think for maximum profit of the company. The profit of the company is good and is the key achievable objective for the company, whereas other people in the company may have a different perspective to work in. Enron is a good example of a company overstepping ethical boundaries for stakeholder’s agendas. Enron, the natural gas pipeline company held a conference in Houston for Wall Street investors and analysts. The audience includes the financial experts on the natural gas and power industries for the talk of Enron’s capabilities for its rapidly growing business of numerous commodities such as electricity, and network...
Words: 580 - Pages: 3
...BUGEN5930: Business, Society and the Planet. Assignment Task 1: Reflective Journal Topic: Sustainability issues, challenges, concepts and approaches. Increasing economy and globalisation has converted many small towns in South-east Asia as emerging global megacities. And I belong to one of those megacities, Hyderabad, India, also known as Hi-Tech city for its tremendous contribution in IT sector. Being a municipal corporation in early 1900’s, Hyderabad has grown in size and activities in early 2010 and thus was made a Greater Municipal cooperation. Still accommodating more and more IT firms in the heart of the city has led to many environmental issues like, dense pollution, low quality of air, water pollution, solid waste pollution etc. Air pollution is, by far is the biggest concern in my locality, followed by bad roads and industrial emissions. Every increasing motors vehicles and their activities, rapid rate of industrialization, wide spread construction activities has contributed to poor air quality in Hyderabad. Resulting in poor health for citizens and premature death in carrying mothers. According to Central Pollution Control Board (CPCB), respirable suspended particulate matter level in my city is on rise and it might cross the acceptable limit soon. According to Times of India, a famous national News daily, 20% of lung cancer patients who die in the city are exposed to high levels of air pollution. Central Pollution control board (CPCB), a government organisation...
Words: 852 - Pages: 4
...TITLE OF ASSIGNMENT: MARKETING ASSIGNMENT NAME AND SURNAME OF STUDENT: JARROD DANIEL GRABE STUDENT NUMBER: 12-002746 COURSE/QUALIFICATION: BCOM – STRATEGIC MANAGEMENT (IIE DEGREE PROGRAMS) SUBJECT CODE: MRKT5111 DATE: 21 MAY 2012 NAME OF MY LECTURER: HULU BHILA WORD COUNT: (Excluding references, table of contents and any tables or graphs) TABLE OF CONTENTS: 1. QUESTION 1.1……………………………………………………………………3 2. QUESTION 1.2……………………………………………………………………3-4 3. QUESTION 2…………………………………………………………………………. 4. QUESTION 3…………………………………………………………………………. 5. QUESTION 4…………………………………………………………………………. 6. QUESTION 5…………………………………………………………………………. 7. REFERENCES……………………………………………………………………...... 1. QUESTION 1.1 The corporate responsibility of Europcar is a voluntary process whereby the Furthermore Europcar has achieved an ISO14001 rating this entails that Europcar has done a thorough analysis into its business areas and activities and their environmental impact, that it has gone beyond just the needed legislation practices and strived for excellence and the care of future generations and its impact on the environment. The above rating means Europcar has attempted or in some cases succeeded in reducing the cost of waste management, improved distribution costs, lower energy and material consumption and finally an improved brand image among watchdogs, customers and the general public. Environmentally Europcar has been focusing he Socially, Europcar has numerous accolades...
Words: 1803 - Pages: 8
...Subject: Stowham Community Centre Proposal Finance | Introduction: In this report I will be telling you about the 3 options for the Stowham Community Centre and what I will recommend as the best choice and that will be more beneficial financially and socially. The beneficial part is that you will be saving more money and is cheapest, social part is that it’s for a certain age group where they will get along and can come and do some learning and meeting new people and be able to build up confidence and get involved into new activities. | Findings: In my Findings I have found that each option e.g. Café, Karts and Arts have a lot of sales but overall café has the most of a total of £25.066 which will be very profitable. In the monthly running up costs café and karts have the most expenses for the running costs whereas the Arts have a very cheap running costs with a total of £11.790 so when they are going through all the building and the stock also the insurance and wages and all the other bills will be very cheap because they will have profit of £5.000 every month because of their monthly income whereas café and Karts they will only have a profit of 1 to 2 thousand pound. The most successful to be in the set-up cost will be the Arts again because they have cheap expenses for the Equipment and stock whereas the Café and Karts are a lot more expensive to be paying for the cheapest Building work would be the Café but for the total for the set-up cost will be the Café. ...
Words: 374 - Pages: 2
...Influencing America?Discussions Question 2, Can Social Entrepreneurship Succeed? Week 2Discussions Question 1, International Trade or Stay Close to Home?Discussions Question 2, Industrialized Versus DevelopingWeek 3Discussions Question 1, Socially Responsible?Discussions Question 2, Is it a Matter of Ethics?Week 4Discussions Question 1, Ethical Considerations Discussions Question 2, A Small Business and Social MediaWeek 5Discussions Question 1, Communication: In a Promotional WayDiscussions Question 2, Blogs, Podcasts, and Social MediaWeek 6Discussions Question 1, What? Me!? A Manager?Discussions Question 2, Workers and Robots: Fair and Equitable?Week 7Discussions Question 1, Effects of Information Technology on ManagementDiscussions Question 2, Financial Controls BUSN 115 Week 1 to 7 Discussion Question Purchase here http://www.proprofs.com/training/course/?title=busn-115-week-1-to-7-discussion-question_1 Product Description • BUSN 115 Discussion QuestionWeek 1Discussions Question 1, In What Manner is Wal-Mart Influencing America?Discussions Question 2, Can Social Entrepreneurship Succeed? Week 2Discussions Question 1, International Trade or Stay Close to Home?Discussions Question 2, Industrialized Versus DevelopingWeek 3Discussions Question 1, Socially Responsible?Discussions Question 2, Is it a Matter of Ethics?Week 4Discussions Question 1, Ethical Considerations Discussions Question 2, A Small Business and Social MediaWeek 5Discussions Question 1, Communication:...
Words: 278 - Pages: 2
...Effect of Industries in social Life Report Vishal Mandaviya (PM002213) Masters in Habitat Management, CEPT University CONTENTS Introduction3 What is Gamthal4 Overview4 Location………………………………………………………………………………………………………………………………………4 Demography……………………………………………………………………………………………………………………………….5 History………………………………………………………………………………………………………………………………………..5 Social Aspects……………………………………………………………………………………………………………………………..5 Objective 6 Methodology 6 Existing Infrastructure7 Social Infrastructure ……………………..……………………………………………………………………………………………7 Road & transportation ……………………………………………………………………………………………………………….8 Water Supply & Drainage …………………………………………………………………………………………………………..9 Industrial Infrastructure……………………………………………………………………………………………………………10 Effect of Industries in Social life………….……………………………………………………………………………………………10 Industries in Gamthal ………………………………………………………………………………………………………………10 Effect of Industries on social life………………………………………………………………………………………………11 SWOT analysis...………………………………………………………………………………………………………………………12 Conclusions………………………………………………………………………………………………………………………………………13 References……………………………………………………………………………………………………………………………………….14 Endnotes….………………………………………………………………………………………………………………………………………15 Introduction The study was commissioned by CEPT University to analyze Gamthal in Ahmedabad include Demography, Social Life, Economy, Administration and infrastructure. The team of five students went to various Gamthal in...
Words: 1526 - Pages: 7
