The document criticizes common perceptions of corporate social responsibility (CSR) and provides insights from the author's research on the topic. The author evaluated 75 companies and found that CSR is most effective when it is integral to a company's purpose and strategy, rather than a superficial marketing exercise or form of philanthropy. True leaders in CSR, like General Electric, have social and environmental goals that drive business innovation and performance. The author dispels myths that CSR is just about brand differentiation or that companies must pursue many CSR areas to be effective. Focused strategies in key areas are more impactful.
Public Engagement: Survive and Thrive in a Bigger Society Vol. 3Edelman Digital
The third volume of Edelman’s annual publication, Public Engagement: Survive and Thrive in a Bigger Society, is a collection of thought pieces written by the UK team in which we continue to explore the shifting media, thought and working landscapes that we inhabit, as well as the increasingly complex relationship between businesses, brands, government, the media and society.
The document discusses whether companies should behave ethically and be held accountable by society. It provides an overview of corporate social responsibility (CSR), including environmental and social initiatives as well as theories like the stakeholder approach and corporate citizenship. It discusses advantages like increased profitability and customer relations, and disadvantages such as costs and pressure to perform. Examples where CSR could have helped are provided for BP after the Deepwater Horizon spill and Coca-Cola's alleged labor issues. IBM is presented as applying CSR well through its initiatives and supply chain standards.
Stakeholder theory, ethics and the return on customerekanovich
This document discusses corporate social responsibility (CSR) and its relationship to business profitability and customer satisfaction. It provides background on the evolution of CSR, from early philanthropic activities to today's strategic integration of social and environmental issues. The document examines different theories around CSR, including stakeholder theory. It argues that modern consumers expect companies to implement CSR strategies and that CSR can be competitively advantageous by increasing customer satisfaction and loyalty. Overall, the document suggests that CSR allows companies to redefine profit maximization and increase their "return on customer."
This article discusses the challenges of modern leadership. Successful leadership requires adapting to rapid shifts in the business landscape, where there is no precedent. Leaders must focus on developing "substance" by basing their strategy on a term of reference close to their personal values and legacy. This will allow them to guide their organization with conviction through an evolving environment. Key social and economic indicators suggest the current phase requires "age of substance" where organizations demonstrate transparency, authenticity, and speed in order to earn consumer trust and punish those who do not live up to expectations.
Corporate social responsibility_csr_overKush Juthani
1. The document discusses corporate social responsibility (CSR) initiatives taken by various companies in India. It provides examples of CSR programs focused on areas like farmer development, education, healthcare, and community development.
2. Many large Indian companies and corporations are recognizing CSR as an important part of their business strategy and are engaging in long-term, sustainable CSR programs in partnership with NGOs and local communities.
3. Examples of leading CSR programs mentioned include ITC's farmer development programs, IT companies like TCS and Wipro developing educational software, and companies like Aptech, Infosys Foundation, and Jubilant Organosys running schools, hospitals, and health programs.
This document summarizes a report on sustainable business practices at different levels of organizations. It discusses how attitudes have shifted to view businesses as having broader social responsibilities. While profits remain important, stakeholders now expect companies to operate responsibly. The document examines challenges in integrating sustainability, such as short-term thinking from public investors. It provides examples of companies finding business value in tackling social and environmental issues core to their operations through employee engagement, goal-setting and transparency.
This document discusses whether corporate responsibility is a business driver or an ethical obligation. It argues that while companies pursue corporate responsibility partly for business benefits like cost reductions and brand reputation, viewing it solely as a means for profit is dangerous. True corporate responsibility requires following ethical principles like sustainability rather than just maximizing short-term gains. However, most companies still have far to go in thoroughly integrating responsibility into all of their operations and achieving high-quality, consistent results on social and environmental issues rather than just focusing on public relations. For the long-term needs of the planet, corporations will need to move beyond evolution and embrace revolution in their use of resources.
Public Engagement: Survive and Thrive in a Bigger Society Vol. 3Edelman Digital
The third volume of Edelman’s annual publication, Public Engagement: Survive and Thrive in a Bigger Society, is a collection of thought pieces written by the UK team in which we continue to explore the shifting media, thought and working landscapes that we inhabit, as well as the increasingly complex relationship between businesses, brands, government, the media and society.
The document discusses whether companies should behave ethically and be held accountable by society. It provides an overview of corporate social responsibility (CSR), including environmental and social initiatives as well as theories like the stakeholder approach and corporate citizenship. It discusses advantages like increased profitability and customer relations, and disadvantages such as costs and pressure to perform. Examples where CSR could have helped are provided for BP after the Deepwater Horizon spill and Coca-Cola's alleged labor issues. IBM is presented as applying CSR well through its initiatives and supply chain standards.
Stakeholder theory, ethics and the return on customerekanovich
This document discusses corporate social responsibility (CSR) and its relationship to business profitability and customer satisfaction. It provides background on the evolution of CSR, from early philanthropic activities to today's strategic integration of social and environmental issues. The document examines different theories around CSR, including stakeholder theory. It argues that modern consumers expect companies to implement CSR strategies and that CSR can be competitively advantageous by increasing customer satisfaction and loyalty. Overall, the document suggests that CSR allows companies to redefine profit maximization and increase their "return on customer."
This article discusses the challenges of modern leadership. Successful leadership requires adapting to rapid shifts in the business landscape, where there is no precedent. Leaders must focus on developing "substance" by basing their strategy on a term of reference close to their personal values and legacy. This will allow them to guide their organization with conviction through an evolving environment. Key social and economic indicators suggest the current phase requires "age of substance" where organizations demonstrate transparency, authenticity, and speed in order to earn consumer trust and punish those who do not live up to expectations.
Corporate social responsibility_csr_overKush Juthani
1. The document discusses corporate social responsibility (CSR) initiatives taken by various companies in India. It provides examples of CSR programs focused on areas like farmer development, education, healthcare, and community development.
2. Many large Indian companies and corporations are recognizing CSR as an important part of their business strategy and are engaging in long-term, sustainable CSR programs in partnership with NGOs and local communities.
3. Examples of leading CSR programs mentioned include ITC's farmer development programs, IT companies like TCS and Wipro developing educational software, and companies like Aptech, Infosys Foundation, and Jubilant Organosys running schools, hospitals, and health programs.
This document summarizes a report on sustainable business practices at different levels of organizations. It discusses how attitudes have shifted to view businesses as having broader social responsibilities. While profits remain important, stakeholders now expect companies to operate responsibly. The document examines challenges in integrating sustainability, such as short-term thinking from public investors. It provides examples of companies finding business value in tackling social and environmental issues core to their operations through employee engagement, goal-setting and transparency.
This document discusses whether corporate responsibility is a business driver or an ethical obligation. It argues that while companies pursue corporate responsibility partly for business benefits like cost reductions and brand reputation, viewing it solely as a means for profit is dangerous. True corporate responsibility requires following ethical principles like sustainability rather than just maximizing short-term gains. However, most companies still have far to go in thoroughly integrating responsibility into all of their operations and achieving high-quality, consistent results on social and environmental issues rather than just focusing on public relations. For the long-term needs of the planet, corporations will need to move beyond evolution and embrace revolution in their use of resources.
CSR has evolved over the 20th century from being rejected by businesses to becoming widely accepted. [1] The 1919 Dodge v. Ford Motor Company case established that a business's primary responsibility is to provide profits to shareholders. [2] However, in the mid-1900s figures like Donald David began calling for businesses to support social causes beyond shareholders. [3] While opponents like Friedman argued for a conservative view of profit-maximization, CSR is now commonly practiced and expected of businesses globally.
The Four Cornerstones of the Conscious Corporation - PresentationEuro RSCG Worldwide
This document discusses the rise of corporate power over the past 200+ years and increasing distrust in corporations due to scandals. However, consumers now expect more from corporations in terms of social responsibility. The document proposes four cornerstones of the "conscious corporation" of the future: 1) a purpose beyond profit, 2) a people-centered culture, 3) championing sustainability, and 4) respecting consumers' power. Examples of companies embracing these principles are provided. The rewards of cultivating a strong reputation through these means are discussed.
This document summarizes an academic article published in the European Journal of Business and Management that discusses different views on corporate social responsibility. The article provides an introduction to CSR and outlines two main schools of thought - the classical economic view that a company's sole responsibility is to maximize profits, and the stakeholder view that companies have a responsibility to consider interests beyond just shareholders. The article then reviews various perspectives from literature on this topic, including instrumental theories that see CSR as a strategic tool for profits, and normative theories that see CSR as an ethical obligation. It concludes that contemporary organizations see CSR as an ethical approach that can provide both community and company benefits despite sometimes being criticized as just a marketing tactic.
How humanized businesses are growing by establishing a purpose beyond profits and a people-centered culture, championing sustainability, and respecting consumers' power. Includes select findings from Euro RSCG Worldwide's The Future of the Corporate Brand study, plus information on Good for Business: The Rise of the Conscious Corporation (Palgrave Macmillan).
This document discusses how embracing mutuality, or doing social good and financial profit together, can help businesses build stronger brand relationships and long-term profits. It argues that social responsibility has become essential for brands today. However, there are challenges that prevent social good initiatives from fully engaging consumers and optimally building brands, such as social strategies being peripheral to core business concerns and failing to involve stakeholders. The document analyzes these challenges and argues that the principle of mutuality can help address them.
This document provides an overview and definitions related to corporate social responsibility and corporate social initiatives. It discusses trends showing increased corporate giving and reporting on social responsibility efforts. The document defines key terms like corporate social responsibility, corporate social initiatives, and describes six major types of initiatives companies undertake to support social causes. It aims to provide guidance to companies on selecting, implementing, and evaluating social initiatives that provide benefits to both social issues and the company.
IBM Study On Sustainable Corporate Social ResponibilityrScott Rains
IBM's Institute for Business Value conducted a survey of over 250 business executives worldwide about corporate social responsibility (CSR). The survey found that most companies now see CSR as an opportunity for growth rather than just a cost of doing business. Specifically:
- 68% of surveyed executives said their companies are focusing CSR activities on creating new revenue streams.
- Over half said their CSR activities already give them a competitive advantage.
- However, 76% admitted they don't fully understand their customers' expectations around CSR.
The document discusses how increased connectivity and information sharing have led to greater visibility into companies' operations and supply chains. It also outlines strategies for companies to integrate CSR into their core business strategies and operations
Master Class Strategies for Re-engagement January 2013Thomas Lee
This is the slide deck from Master Class on re-engaging employees. It includes the ABC analysis of engagement--A (for antecedents and attitudes), B (for behaviors), and C (for consequences of behaviors)--on each of the five tiers of engagement: creative engagement, active engagement, passive engagement, passive disengagement, and active disengagement. It also includes practical strategies for boosting engagement, especially from passive disengagement to passive engagement and from passive engagement to active engagement.
111124 nk nacd business ethics and csrNoke Kiroyan
This document profiles Noke Kiroyan, an Indonesian businessman and consultant. It lists his previous roles including positions at mining companies Newmont Pacific and Rio Tinto. It also outlines his current public service, professional memberships, education background and areas of expertise including governance, CSR and sustainability.
111129 nk rajawali foundation csr gatheringNoke Kiroyan
Noke Kiroyan has held leadership positions in several mining and resource companies in Indonesia. He currently serves on the boards of various organizations focused on business, governance, and sustainability issues. Kiroyan has extensive international experience and education.
On the Semantics of Linking and Importing in Modular OntologiesJie Bao
The document discusses different approaches to modular ontologies, including linking approaches like Distributed Description Logics (DDL) and E-Connections, and importing approaches like Package-based Description Logics (P-DL). P-DL uses semantic importing where local domains can partially overlap, and importing establishes transitive, one-to-one domain relations. This avoids problems with DDL like non-composable bridge rules and inter-module unsatisfiability, and allows modeling scenarios supported by DDL and E-Connections.
1) The document proposes adding two new constructs, rdf:context and rdf:imports, to make contexts explicit in RDF graphs.
2) rdf:context would associate a context definition with an RDF graph, and rdf:imports would represent how knowledge is transferred between contexts during import operations between graphs.
3) Making contexts explicit would allow for reasoning about compatibility between contexts and partial reuse of knowledge between contexts through relations like compatible and incompatible.
Individual social responsibility (isr) infinitemyriaads.comInfinite Myriaads
Individual Social Responsibility (ISR) involves individuals contributing their time and energy to social causes, which is an important part of overall Corporate Social Responsibility (CSR) efforts. Individuals can contribute through their employment at companies supporting CSR projects or by volunteering directly with organizations working on social projects. ISR is the foundation of CSR, as corporate CSR initiatives rely on individual contributions. The organization Infinite Myriaads is seeking to develop a robust ISR model to provide opportunities for individuals to give back through volunteering in areas like language development, soft skills training, and domain-specific training in retail, financial services, travel, hospitality, and call centers.
Market Pulse is a leading Indian market research and analytics firm recognized for pioneering work in assessing new technologies and products. It has a strong management team with experience in various industries. Market Pulse delivers strategic insights through proprietary research frameworks and has a high customer retention rate. It offers a full spectrum of services including market assessments, product research, and retail audits. Market Pulse has extensive experience conducting retail audits in various sectors such as telecom, automotive, and consumer goods.
Rahul Bohra - HPGD JA14 May 2015, Project ISR, NGO Being HumanRahul Bohra
Being Human is a registered charitable trust working in the areas of education and healthcare for the underprivileged.
Name : Rahul Bohra
College : Welingkar Institute of Management and Research
Class : MBA E - Business, 3rd Semester.
Project : Individual Social Responsibility.
Social Cause : Education & Healthcare
NGO : Being Human
Thanks for watching. Please comment and give us feedback.
CSIC research fellow Tracey Wright interviews 12 DC-area small businesses to explore how they use social media to communicate their socially responsible business practices to their stakeholders.
CSR has evolved over the 20th century from being rejected by businesses to becoming widely accepted. [1] The 1919 Dodge v. Ford Motor Company case established that a business's primary responsibility is to provide profits to shareholders. [2] However, in the mid-1900s figures like Donald David began calling for businesses to support social causes beyond shareholders. [3] While opponents like Friedman argued for a conservative view of profit-maximization, CSR is now commonly practiced and expected of businesses globally.
The Four Cornerstones of the Conscious Corporation - PresentationEuro RSCG Worldwide
This document discusses the rise of corporate power over the past 200+ years and increasing distrust in corporations due to scandals. However, consumers now expect more from corporations in terms of social responsibility. The document proposes four cornerstones of the "conscious corporation" of the future: 1) a purpose beyond profit, 2) a people-centered culture, 3) championing sustainability, and 4) respecting consumers' power. Examples of companies embracing these principles are provided. The rewards of cultivating a strong reputation through these means are discussed.
This document summarizes an academic article published in the European Journal of Business and Management that discusses different views on corporate social responsibility. The article provides an introduction to CSR and outlines two main schools of thought - the classical economic view that a company's sole responsibility is to maximize profits, and the stakeholder view that companies have a responsibility to consider interests beyond just shareholders. The article then reviews various perspectives from literature on this topic, including instrumental theories that see CSR as a strategic tool for profits, and normative theories that see CSR as an ethical obligation. It concludes that contemporary organizations see CSR as an ethical approach that can provide both community and company benefits despite sometimes being criticized as just a marketing tactic.
How humanized businesses are growing by establishing a purpose beyond profits and a people-centered culture, championing sustainability, and respecting consumers' power. Includes select findings from Euro RSCG Worldwide's The Future of the Corporate Brand study, plus information on Good for Business: The Rise of the Conscious Corporation (Palgrave Macmillan).
This document discusses how embracing mutuality, or doing social good and financial profit together, can help businesses build stronger brand relationships and long-term profits. It argues that social responsibility has become essential for brands today. However, there are challenges that prevent social good initiatives from fully engaging consumers and optimally building brands, such as social strategies being peripheral to core business concerns and failing to involve stakeholders. The document analyzes these challenges and argues that the principle of mutuality can help address them.
This document provides an overview and definitions related to corporate social responsibility and corporate social initiatives. It discusses trends showing increased corporate giving and reporting on social responsibility efforts. The document defines key terms like corporate social responsibility, corporate social initiatives, and describes six major types of initiatives companies undertake to support social causes. It aims to provide guidance to companies on selecting, implementing, and evaluating social initiatives that provide benefits to both social issues and the company.
IBM Study On Sustainable Corporate Social ResponibilityrScott Rains
IBM's Institute for Business Value conducted a survey of over 250 business executives worldwide about corporate social responsibility (CSR). The survey found that most companies now see CSR as an opportunity for growth rather than just a cost of doing business. Specifically:
- 68% of surveyed executives said their companies are focusing CSR activities on creating new revenue streams.
- Over half said their CSR activities already give them a competitive advantage.
- However, 76% admitted they don't fully understand their customers' expectations around CSR.
The document discusses how increased connectivity and information sharing have led to greater visibility into companies' operations and supply chains. It also outlines strategies for companies to integrate CSR into their core business strategies and operations
Master Class Strategies for Re-engagement January 2013Thomas Lee
This is the slide deck from Master Class on re-engaging employees. It includes the ABC analysis of engagement--A (for antecedents and attitudes), B (for behaviors), and C (for consequences of behaviors)--on each of the five tiers of engagement: creative engagement, active engagement, passive engagement, passive disengagement, and active disengagement. It also includes practical strategies for boosting engagement, especially from passive disengagement to passive engagement and from passive engagement to active engagement.
111124 nk nacd business ethics and csrNoke Kiroyan
This document profiles Noke Kiroyan, an Indonesian businessman and consultant. It lists his previous roles including positions at mining companies Newmont Pacific and Rio Tinto. It also outlines his current public service, professional memberships, education background and areas of expertise including governance, CSR and sustainability.
111129 nk rajawali foundation csr gatheringNoke Kiroyan
Noke Kiroyan has held leadership positions in several mining and resource companies in Indonesia. He currently serves on the boards of various organizations focused on business, governance, and sustainability issues. Kiroyan has extensive international experience and education.
On the Semantics of Linking and Importing in Modular OntologiesJie Bao
The document discusses different approaches to modular ontologies, including linking approaches like Distributed Description Logics (DDL) and E-Connections, and importing approaches like Package-based Description Logics (P-DL). P-DL uses semantic importing where local domains can partially overlap, and importing establishes transitive, one-to-one domain relations. This avoids problems with DDL like non-composable bridge rules and inter-module unsatisfiability, and allows modeling scenarios supported by DDL and E-Connections.
1) The document proposes adding two new constructs, rdf:context and rdf:imports, to make contexts explicit in RDF graphs.
2) rdf:context would associate a context definition with an RDF graph, and rdf:imports would represent how knowledge is transferred between contexts during import operations between graphs.
3) Making contexts explicit would allow for reasoning about compatibility between contexts and partial reuse of knowledge between contexts through relations like compatible and incompatible.
Individual social responsibility (isr) infinitemyriaads.comInfinite Myriaads
Individual Social Responsibility (ISR) involves individuals contributing their time and energy to social causes, which is an important part of overall Corporate Social Responsibility (CSR) efforts. Individuals can contribute through their employment at companies supporting CSR projects or by volunteering directly with organizations working on social projects. ISR is the foundation of CSR, as corporate CSR initiatives rely on individual contributions. The organization Infinite Myriaads is seeking to develop a robust ISR model to provide opportunities for individuals to give back through volunteering in areas like language development, soft skills training, and domain-specific training in retail, financial services, travel, hospitality, and call centers.
Market Pulse is a leading Indian market research and analytics firm recognized for pioneering work in assessing new technologies and products. It has a strong management team with experience in various industries. Market Pulse delivers strategic insights through proprietary research frameworks and has a high customer retention rate. It offers a full spectrum of services including market assessments, product research, and retail audits. Market Pulse has extensive experience conducting retail audits in various sectors such as telecom, automotive, and consumer goods.
Rahul Bohra - HPGD JA14 May 2015, Project ISR, NGO Being HumanRahul Bohra
Being Human is a registered charitable trust working in the areas of education and healthcare for the underprivileged.
Name : Rahul Bohra
College : Welingkar Institute of Management and Research
Class : MBA E - Business, 3rd Semester.
Project : Individual Social Responsibility.
Social Cause : Education & Healthcare
NGO : Being Human
Thanks for watching. Please comment and give us feedback.
CSIC research fellow Tracey Wright interviews 12 DC-area small businesses to explore how they use social media to communicate their socially responsible business practices to their stakeholders.
Corporate social responsibility (CSR) involves companies balancing economic, environmental, and social responsibilities. While CSR has traditionally been viewed as a moral obligation, this document argues it can also drive innovation through new products and services that benefit society. The benefits of CSR include improved reputation and community acceptance for companies, as well as environmental protection and a more sustainable world. CSR should be a strategic part of business management, not just charitable donations, in order to create value for both companies and stakeholders.
The document summarizes key aspects of corporate social responsibility (CSR) including:
- The meaning and definitions of CSR, how it has evolved from voluntary to mandatory practices.
- The objectives of CSR which include embracing responsibility, maximizing societal impact, and giving back to communities.
- Benefits of CSR for businesses such as increased employee engagement, improved brand perception, and enabling better customer engagement.
- New amendments to CSR rules in India including clarifying eligible CSR activities and treatment of unspent/excess CSR funds which must be transferred to specified funds.
Corporate social responsibility (CSR) involves companies taking responsibility for their impact on society beyond short-term profits. CSR addresses stakeholders' interests, including employees, customers, communities, the environment, and shareholders. By adopting CSR, companies can build trust with stakeholders, attract customers and employees who value ethics, manage risks to the company's reputation, and gain government support. CSR has become necessary for companies to operate sustainably in today's competitive environment.
Corporate social responsibility (CSR) refers to a company's responsibility to consider the interests of stakeholders, including communities, in its business activities and operations. Stakeholders exert direct or indirect influence over a business and are also impacted by its actions. CSR aims to address major challenges like economic, social, environmental, and ethical issues faced by companies. By creating a culture of "doing good" and "being right", companies can gain stakeholders' trust and purchasing preferences. CSR involves delivering benefits not just to a company's direct customers but to everyone affected by the business.
Corporate social responsibility (CSR) refers to a company's responsibility to consider the interests of its stakeholders, including consumers, employees, investors, communities, and the environment. Stakeholders exert direct or indirect influence over the company and are also impacted by its actions. CSR aims to address major challenges companies face, such as economic, social, and environmental issues, by creating a culture of "doing good" and "being right" to gain stakeholders' trust. Implementing CSR can help companies manage risks, recruit employees, gain government support, and reduce costs - ultimately leading to long-term business success.
Corporate social responsibility (CSR) refers to a company's responsibility to consider the interests of its stakeholders, including consumers, employees, investors, communities, and the environment. Stakeholders exert direct or indirect influence over the company and are also impacted by its actions. CSR aims to address major challenges companies face, such as economic, social, and environmental issues, by creating a culture of "doing good" and "being right" to gain stakeholders' trust. Implementing CSR can help companies manage risks, recruit employees, gain government support, and reduce costs - ultimately leading to long-term business success.
Corporate social responsibility (CSR) refers to a company's responsibility to consider the interests of its stakeholders, including consumers, employees, investors, communities, and the environment. Stakeholders are groups that influence or are influenced by a company's actions. CSR requires companies to provide value to stakeholders through their operations in an ethical and environmentally sustainable manner. Implementing CSR can help companies reduce costs, attract customers and employees who value sustainability, manage risks to the company's reputation, and gain government support.
This document discusses corporate social responsibility (CSR). It defines CSR as a holistic approach that considers a firm's impact on and relationship with all stakeholders, not just shareholders. It argues that CSR is important for long-term business sustainability. To properly manage CSR, leaders should authentically pursue CSR through inspirational leadership focused on stakeholder values rather than narrow economic or rational decision-making. Leaders must help followers see how CSR connects to business goals and broader societal issues to build commitment to CSR strategies.
The document discusses whether corporate social responsibility (CSR) is effective. It notes that while CSR aims to improve society, some argue it is mainly for public relations purposes. The document examines CSR programs by Coca-Cola and Shell that aim to help communities. However, critics argue CSR reports do not always provide full transparency and CSR may not address the root problems companies contribute to. Overall, the document analyzes differing perspectives on the impacts and motivations of CSR activities.
Corporate Social Responsibility(CSR) and Firm PerformanceSherif Sidhom, MBA
Corporate social responsibility is a critical issue for most organizations and their top management. Corporate social responsibility is a focal point and has strategic impact on companies in all different industries.
To what extent Corporate Social Responsibility (CSR) Impact on Firm Performance?
This document discusses corporate social responsibility (CSR) and its importance for businesses. It defines CSR as how companies integrate social, environmental, ethical, and economic concerns into their operations and interactions with stakeholders. The document outlines the legal provisions for CSR in India, potential areas for CSR activities, and benefits to businesses that implement CSR programs, such as improved reputation, compliance with laws, and attracting consumers. It provides statistics showing that CSR reporting is increasing and CSR activities are generating positive publicity and financial returns for companies.
The document discusses corporate social responsibility (CSR). It begins by stating that CSR is not simply charity, but is a strategic business opportunity that can provide returns on investment. It discusses three types of CSR approaches - charity, outsourced, and business goal-oriented. The document argues that business goal-oriented CSR is the most effective as it incorporates social responsibilities into business strategy. The rest of the document discusses why companies adopt CSR, how to develop a CSR strategy, examples of returns on CSR investments through cost savings and higher margins, and factors that influence consumer behavior and willingness to pay more for socially responsible products.
Corporate social responsibility and cause marketing programs aim to benefit society while also achieving business goals. A survey found 88% of consumers believe companies should try to improve society and the environment along with their business goals. Employees also have high expectations - over 65% would consider leaving a job if their employer harmed the environment, and 83% for using child labor. The survey identified attributes of good companies and leaders to provide social and environmental benefits.
The document discusses the relationship between business and society, and the importance of business ethics. It makes three key points:
1) Business and society are interdependent - business needs societal approval to survive long-term, and society relies on business for economic prosperity.
2) Unethical business practices may provide short-term gains but ultimately harm both business and society. Ethical businesses that serve all stakeholders have enjoyed long-term success.
3) In today's global environment, businesses can only grow by adopting ethical, socially responsible policies that benefit investors, customers, employees and communities. Maintaining transparency and treating all stakeholders fairly is essential for good corporate governance.
This document discusses the difference between corporate social responsibility (CSR) and having an authentic purpose-driven business. While CSR focuses on minimizing harm, purpose is about maximizing positive social and environmental impacts. Purpose requires a mindset that considers long-term societal wellbeing, not just short-term profits. Interviewees state that a purpose-driven business culture engages employees in living the company's purpose through their daily work.
QUESTIONDiscuss how leaders can use emotional intelligence today .pdfformicreation
QUESTION:
Discuss how leaders can use emotional intelligence today in the workplace. Include subject
headers that introduce the following topics and relate these concepts to at least one company:
accountability, transformational communication, and values. You may use multiple corporate
examples your choice.
READINGS:
Guy Millar explains the importance of developing emotional intelligence in creating true
corporate values business decisions.\"Yur priority is to establishthe right culture andleadership,
makingcitizenship core to ourvalues and day-to-day\"Committed to safety, respect, excellence,
courageand one team.\"\"...our behaviour being open and honest ineverything we do\".\"...to act
with the highest integrity in everythingwe do\".These are the stated values of some of theFTSE
100 companies that have been pilloried inthe press of late. However, our experience of
theseorganisations has not tallied with these fine words.Users of these companies\' products and
serviceshave felt let down, used or cheated. Trust has beenbroken, with little faith in it being
restored. Forthe employees working in these organisations,there is also a feeling of being let
down, and wherebefore they may have felt proud of their company,they now feel a certain
amount of shame.The soul or heart of any organisation orbusiness is the quality of its
relationships. It seem the people have been forgotten and that manyorganisations\' values have
lost validity - losingtheir reputation and integrity along withtheir souls.The companies that do the
best job of living upto their values and developing ethical employeesrecognise that the real cause
of success - or failure- is always the people, not the words. Ultimatelyactions will say much more
to employees aboutvalues and leadership than words ever can. Ifactions are wise, no one wiU
care if the words arenot perfect. If actions are foolish or iU-considered,the words posted on the
corporate website and inthe staff handbook will only look like propagandaand no one will
believe it.The current wave of corporate disapprovalbegan in 2001 with the bursting of the dot-
combubble, the ensuing bear market, and the financialscandals involving Enron, WorldCom,
Tyco andothers. Ever since, the press has had a field daywith the top people in corporations and
publiclife providing a constant source of entertainmentof the worst kind - ritual humiliation. In
anutshell, the actions of these CEOs, politicians,celebrities and organisations have let them
down.\"If people\'s state of being is not matched by theirstate of doing, they recklessly court
disaster,\" saysMarianne Williamson, author and founder ofThe Peace Alliance\'.References1
WilliamsonM The Ageof Miracles:Embracing theNew MidiifeHay House(2008)2
http://www.towerswatson.com/research/7177Being congruent is really important rightnow and it
goes to the heart of what businessleadership needs to be about.An organisation\'s values should
be anexpression of its culture, of what it believes to bei.
This document discusses the trend of companies moving away from "goodwashing" and towards creating shared value. As consumers expect more transparency and accountability, companies are focusing on effecting real change through their business models rather than just token CSR efforts. This includes being open about flaws and plans for improvement. With information easily accessible online, companies must demonstrate their positive social impact in a clear, visual way. Those that don't become more responsible and sustainable will lose ground to competitors.
1. ChangeThis
Why Corporate “Goodness”
Isn’t Good Enough:
Rethinking Corporate Responsibility
By Christine Arena
No 31.02 Info Hide/Show menus next
2. ChangeThis
T
he other day, I was sitting in a crowded auditorium that housed a symposium on corporate
social responsibility (CSR). It was the fourteenth such event that I had attended in less
than six years. As usual, the conference teemed with renowned CSR experts, advocates,
consultants and executives—all rubbing elbows and selling their wares. When the
keynote was ready to begin, I moved through the crowd to find an inconspicuous seat off to the
side. But as I thumbed through the conference guide, a play on the theme of “value-based”
leadership, my mild interest turned into full-blown malaise.
A recycled curriculum combined with the self-congratulatory buzz in the air urged me from my
chair and toward the exit. Although I paid a hefty sum for my ticket, I decided to cut and run.
I just couldn’t bring myself to endure another two days of the same back-patting. the same rhetoric.
the same core ideas. the same case examples.
Interface “does well by doing good.” Altria Group “integrates its values.” Unilever’s Dove makes
“ethical branding” work.
If there is one thing that I have learned while researching the variables that separate true from
false corporate responsibility, or winning from losing approaches, it’s that the most effective
companies leave vague concepts like “doing the right thing” behind.
Exactly what is the “right thing,” anyway?
And who gets to decide?
No 31.02 Info /14
3. ChangeThis
Furthermore, who among us consciously commits doing the wrong thing? While many in the CSR
industry—including notable media sources, research firms and socially responsible investment
(SRI) funds—attempt to separate right action from wrong and either award or admonish companies
accordingly, skeptical stakeholders call their criteria into question.
not BUyInG It
In one highly publicized rebuttal against SRI industry standards, for instance, environmental
entrepreneur and bestselling author Paul Hawken noted that many of the multinational corporations
awarded “good” status and included in SRI funds were actually far from right:
“Over 90% of Fortune 500 companies are included in SRI funds… If a fund doesn’t own
companies involved with gambling or pornography, it can be called socially responsible.
Never mind that it owns Halliburton and Monsanto.”
Similarly, in response to Business Ethics magazine’s 2005 list of the “100 Best Corporate Citizens,”
independent media entity Alternet.com made the observation that:
“When one looks at the companies on this list, it is easy to be baffled at the real meaning of
CSR.…[It] is riddled with companies that have significant blemishes on their records.”
More recently, in response to Business Ethics’ 2006 roster, which awarded Green Mountain Coffee
Roasters first place, readers like Pheobe Sullivan, chief sustainability officer of coffee company
Dean’s Beans, complained:
“After reading through your list of 100 Best Citizens, I was taken aback by your choice for
the leader of the pack, Green Mountain Coffee Roasters. If a company is only 20% committed
to Fair Trade, how could one possibly deem such a company ethical?”
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these critiques are by no means isolated. each and every entity in the business of rating and selling
business goodness has likely experienced similar backlash from people who don’t quite see things
their way. And it isn’t any wonder why.
If I asked you to rate the absolute level of goodness (or good citizenship) of your particular company,
how confident would you be that your rating would be one hundred percent accurate, and that it
would match or even closely correspond to the ratings generated by all others who encountered it?
the likely outcome is that regardless of the methodology used, scores would vary significantly
according to the vantage of the particular viewer.
Business goodness is a subjective concept.
And I propose, an unconstructive one.
the phrases and associations used by many to encapsulate this practice area are so broad that they
are meaningless. After all, the nice executives at Halliburton, Monsanto and Altria Group whole-
heartedly believe that their companies “do the right thing,” stand for “socially responsible values”
and that ethical conduct is “the way we do business.” But while pedantic notions such as these
infiltrate many business practice areas, they set the stage for an even larger issue in the CSR arena.
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GooDneSS IS tHe PRoBleM
the widely held notion that corporate responsibility is about “doing good” effectively marginalizes
CSR, keeping it on the sidelines of many corporate agendas. that’s because the practical execution
of doing good often translates into philanthropy rather than business strategy. thus, the concept
of business goodness not only hinders companies from making a real difference, it also inhibits the
CSR movement from taking root in powerful economic sectors.
For the most part, goodness is the reason why we still cannot agree on an accurate and cohesive
definition for CSR, and why we also disagree about which companies pass muster. Goodness is
also the ammunition that CSR critics—who assert that a company’s sole responsibility is to generate
shareholder wealth rather than give back to society—use in their arguments against the practice.
And since goodness (or the perception of goodness) is the end goal that so many companies
strive for in their “corporate responsibility” community outreach programs or multi-million dollar
marketing bonanzas, goodness potentially diminishes the impact that companies ultimately
have on shareholders, society and the planet. therefore, goodness affects us all.
Me ASURInG WHAt MAt teRS
In the Spring of 2005 I decided it was high time for a piece of research that cut through the hype
and demystified an unnecessarily complex field. the industry as a whole, I reasoned, might benefit
from a constructive assessment of the CSR practices of so many companies striving to do good.
My goal was to structure a study that both uncovered why and how corporate responsibility affects
business performance, and that also distinguished between the extraordinary companies driven
by purposeful ideals, and those companies that merely pretend to be responsible. I realized that in
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6. ChangeThis
order for the results of my study to be taken seriously and adopted by mainstream corporations,
the standards and methodology used had to be both objective and rigorous.
In conjunction with the McGill University Desautels Faculty of Management and a team of sharp
MBA students, I spent two academic semesters analyzing the corporate responsibility practices
of 75 well-known corporations from major industries that spend millions annually on CSR and
actively promote their commitment to society and the environment through marketing communica-
tions. the companies in my study ranged from JetBlue Airways to Wal-Mart, McDonald’s and
Starbucks. (For a full list of companies evaluated, why they were selected and how they fared,
please refer to chapter one of my latest book, The High-Purpose Company).
Rather than judge them as good or bad citizens,
we evaluated the quality of each company’s
CSR approach.
My research team and I defined CSR quality in tangible terms—namely, the economic, social
and environmental value produced. And rather than rely exclusively on the company’s point of view
about itself, the way many CSR auditing firms do, we reached out to each company’s web of
accountability. We interviewed hundreds of stakeholders to get a real sense of where each company
was with respect to its true level of CSR authenticity and effectiveness.
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7. ChangeThis
In assessing Wal-Mart, for instance, we interviewed Wal-Mart executives, employees, store managers,
whistleblowers and their attorneys, activist groups like Wal-Mart Watch and industry insiders, such as
energy expert Amory lovins of the Rocky Mountain Institute. this well-rounded assessment gave us
a much better sense of potential gaps in conscience—that is, discrepancies between what a company
says and what it actually does—and a clearer understanding of the impact that a company has on
shareholders and stakeholders.
In structuring our inquiries, we deliberately steered clear of obscure questions often debated by
CSR advocates and critics, such as: Is there a compelling business case for CSR? or, Does CSR pay?
Instead, we focused on concrete issues like:
Precisely when does CSR pay? Under what specific
conditions does CSR work the best—and worst?
In addition to improving the integrity of the study’s output, asking the right kinds of questions from
the start yielded a single criteria, a gold standard, that can be used to help distinguish the truly
responsible and highly profitable firms from all the rest.
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tHe lItMUS teSt
Is purpose invaluable to the company? this simple question draws a tidy line in the sand between
true and false corporate responsibility, while also simplifying a bewildering practice area.
Although many companies claim to stand for a grandiose purpose that serves the common good,
few companies actually absorb and reflect that purpose to the point where their own success depends
on it, where it becomes a dominant force for corporate performance and development. In true
High-Purpose Companies, the concept of a higher purpose—of somehow serving society or protecting
the environment—is so integral to the fabric of the organization that if you removed that thread,
the company would start to unravel.
Without its purpose, such companies would be
crippled, utterly drained of life force and unable
to compete as effectively in the marketplace.
For instance, consider the difference in purpose-driven value generated by Chevron versus General
electric (Ge). In Chevron’s case, the company spends tens of millions annually advertising its
commitment to energy conservation, yet presently sells few if any products that meet this favorable
end. In fact, Chevron has the business incentive to undermine its reputed cause since its current
financial performance and near-term growth rely almost exclusively on increased oil prices, demand,
supply and control.
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on the other hand, in Ge’s case, while the company equally spends tens of millions annually
promoting its intent to “provide imaginative answers to the mounting challenges to our ecosystem,”
it substantiates this claim by investing over $1.8 billion annually in environmental technologies
and generating over $10 billion in annual revenues from “ecomagination” products. According to
the company, revenues from ecomagination products—which address global issues ranging from
water scarcity to climate change—are expected to double to $20 billion by 2010.
Passed The LiTmus TesT
Company: higher Purpose:
Ge “Provide imaginative answers to the mounting challenges to our ecosystem.”
DuPont “Create sustainable solutions essential to a better, safer, healthier life
for people everywhere.”
toyota “Make sustainable mobility a reality.”
SC Johnson “Promote global well-being.”
Jet Blue “Bring humanity back to air travel.”
IKeA “Create a better everyday life for the many people.”
Patagonia “Inspire and implement solutions to the environmental crisis.”
*For a full list of companies that passed the litmus test along with corresponding in-depth analysis,
please refer to chapters 6-7 in The High-Purpose Company.
A higher purpose makes corporations like Ge, DuPont, toyota, SC Johnson, Jet Blue, IKeA, Patagonia
literally worth more to shareholders and also, worthy of succeeding. While these companies are
undoubtedly imperfect, they provide tremendous value. owing to the fact that they fill fundamental,
unmet human needs and address serious world problems, society would be worse off without them.
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SoRtInG My tHS FRoM Re AlIt y
the results of my study defy conventional wisdom about CSR and prove many widely held beliefs
to be inaccurate. If your company invests even minimally in corporate responsibility, then you risk
losing out by not seeing things anew.
While The High-Purpose Company provides a thorough review of findings and how they might pertain
to your business, here are a few notions worth re-thinking today:
➔ myth #1: CsR is best approached as a “cosmetic exercise.” this argument was first asserted
by The Economist’s Clive Crook in his 2005 article, “the Good Company,” and then later expounded
upon by The Wall Street Journal and others. However, my results clearly indicate that when CSR
is approached cosmetically, then companies ought not invest at all. that’s because companies that
falsely approach CSR as a superficial form of marketing or philanthropy don’t produce meaningful
results. on the contrary, they often waste their money and create additional liabilities stemming
from stakeholder backlash and similar factors.
➔ myth #2: making the world a better place is the top priority of CsR. Many companies
expend much time and money “giving back” to the community, when really they should first focus
on eliminating the damage they create through their most basic business activities. Some of the best
CSR programs presented in my book and elsewhere work to benefit society and the environment
so well because they primarily target business inefficiencies and risks. For instance, without Gap’s
efforts to improve labor standards, it would remain a target for watchdog groups, lawsuits and nega-
tive publicity. Without tyco’s comprehensive ethical house cleaning, it would remain an SeC target
and suffer from a dysfunctional internal corporate culture. Without DuPont’s commitment to become
a “zero emissions,” “zero accidents” organization, the company would face substantial liabilities
produced by pollution costs and workplace fatalities and injuries—not to mention miss out on $2
billion in saved overhead costs. By both minimizing the practices that create business vulnerabilities
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11. ChangeThis
and maximizing approaches that work to reverse related social and environmental problems, compa-
nies such as those featured above become textbook examples of high performance CSR. therefore,
the first question for business leaders to ask themselves isn’t necessarily, How can we better serve
society? but rather, Where and how are we most vulnerable to the risks produced by social and
environmental inefficiencies? By answering question two, companies naturally answer question one.
➔ myth #3: Competitive distinction is the top benefit of CsR. Many advocates tell companies
to invest in CSR because it can set their brand apart. this claim leads one to ask the valid question:
if everyone else in my sector is doing it, then why should I? the fact is that brand differentiation is
absolutely not the top benefit of CSR. Innovation is. As the companies featured throughout my book,
from Wal-Mart to Wainwright Bank trust, John Deere and SC Johnson prove, outstanding CSR leads
to higher quality products, services, business models, management policies, operational innovations
and other advancements that can revitalize a company and catapult it forward. the advantages
gleaned by a slightly better brand position alone pale in comparison.
➔ myth #4: The most effective companies leave no stone unturned. Companies that dabble
in every conceivable corporate responsibility facet (community, diversity, environment, human rights,
etc.) tend to be less effective than the companies that pursue deliberate strategies in a focused
area—both in terms of making a substantive social and environmental impact, and in terms of
generating a financial return on investment. this is a key finding from my study, and it runs contrary
to the way that companies are often rated on Best Citizens lists. Whereas Best Citizens lists typically
quantitatively rate companies across these various performance dimensions and then add up cumula-
tive scores, we found that too much strategic diversity or fragmentation actually diluted CSR results.
on the other hand, the most successful companies concentrated on key strategic areas where they
knew they could make the biggest difference and brought their greatest strengths to bear in order
to better meet an unmet need. For instance, while over the past eight years Microsoft might not have
been hailed by the CSR industry due to antitrust or public opinion issues, the company hones in on
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12. ChangeThis
one critical problem: the digital divide. By 2010 Microsoft intends to bring the benefits of technology
to one quarter billion under-served people, thereby simultaneously helping to alleviate poverty and
also growing its market. Companies like target, Dell, nike, Starbucks and many others featured in
my book take a similar approach, leveraging their core competencies and generating substantive
results. Such firms demonstrate why ranking companies on the basis of their general “responsibility”
or “goodness” when they can provide better value to society and shareholders by going deep risks
missing the point.
➔ myth #5: CsR is a laudable end-goal. In fact, there is no definitive finish line, as corporate
responsibility is not really an objective or desired effect. Rather, it is a continual process of change
and self-improvement. In The High-Purpose Company, my study’s core findings are presented as a
ladder of CSR effectiveness. each sequential step on the ladder represents a level of skill or strategic
aptitude. the higher companies climbed on my ladder, the more skills they had visibly mastered and
the better results they produced for the environment, society and shareholders alike. Conversely, the
lower companies resided on my ladder, the fewer skills they visibly reflected and the less meaningful
their results. In some cases, where companies reflected none of the skills that my research team and
I identified, they produced negative results—amounting to billions in financial liability.
the first step toward making inroads in this space is to re-think the very definition of the practice
itself. true and effective CSR isn’t as much about being “responsible” as it is about being responsive.
Answering to changing human needs, to shifts in the economy, society and the environment, and
to emerging market trends is the business of High-Purpose Companies. Such firms prepare themselves
for inevitable turns and are the first to market with progressive solutions that are vital and necessary,
not frivolous or easily replicated. the more ingeniously they meet society’s needs, the more returns
they produce for shareholders—and the more we can all benefit.
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13. ChangeThis
info abouT The auThoR
Christine is the award-winning author of two books, Cause for Success: 10 Companies that Put Profits
Second and Came in First (new World library, november 2004), and The High-Purpose Company: The Truly
Responsible (and Highly Profitable) Firms that are Changing Business Now (Collins, January 2007), from which
this manifesto is adopted. through her books, Christine’s prime objective is to enable readers to easily
distinguish between true and false corporate social responsibility (CSR), or winning and losing approaches.
She is a frequent speaker on the subject of CSR effectiveness to corporate and academic audiences
worldwide. Additionally, Christine serves as a strategic partner to change management consulting firm
Interaction Associates, and sits on the advisory boards of green business ventures IdealBite.com and
Re:Vision. A masters graduate of new york University, she lives in San Francisco with her husband.
abouT ChaNGeThis
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whaT you CaN do
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