This document discusses corporate social responsibility and the motivations and responsibilities of businesses. It addresses three key models of CSR: the corporate citizenship model, in which companies engage in CSR for public good alone; the social contract model, where businesses owe reciprocal obligations to the communities they serve; and the enlightened self-interest model, where CSR can provide competitive advantages. It also explores debates around whether CSR should be motivated by self-interest or a sense of obligation, and questions who determines what responsibilities businesses have and to whom.
Corporate social responsibility emerged in the 1960s as companies faced increasing pressure to address harmful impacts of their operations. CSR involves voluntary commitments by companies beyond legal and economic obligations. It can be defined as accommodating corporate behavior to societal values and expectations. There are various approaches to CSR, including Milton Friedman's view that a company's only responsibility is to increase profits legally, and Archie Carroll's view that companies have economic, legal, ethical, and discretionary responsibilities. Arguments for and against CSR center around profit maximization, resource fit, and lack of accountability.
- CSR emerged in the 1960s as companies faced increasing pressure to address harmful impacts of operations traditionally handled by governments.
- CSR can be defined as accommodating corporate behavior to societal values and expectations beyond legal and economic requirements.
- There are arguments both for and against CSR, relating to profit maximization, resource fit with social issues, and lack of corporate accountability. However, CSR can also improve corporate image, attract employees, and minimize government intervention.
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.
This document discusses the concept of corporate social responsibility (CSR). It begins by explaining how businesses are increasingly expected to address social issues involving stakeholders, society, the environment, and government. It then provides examples of CSR initiatives undertaken by various large Indian companies to benefit local communities. The document defines CSR as a self-regulating business model that considers the public interest and impacts on people, planet and profits. It acknowledges debates around CSR and whether it distracts from economic roles or is just public relations. Overall, the document outlines the concept and increasing importance of CSR.
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.
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."
Stakeholder theory, ethics and the return on customerekanovich
This document discusses the evolution of corporate social responsibility (CSR) theory and practice. It defines CSR as a company's duty to consider the interests of stakeholders such as employees, communities, and society. The document traces the roots of CSR back to Andrew Carnegie's ideas of charity and stewardship. It outlines key developments in CSR, from early community relations and contributions, to modern strategic integration of social and environmental issues. The document argues that modern consumers expect companies to have CSR strategies and that CSR can increase customer satisfaction and profits. It examines the relationship between CSR, customer returns, and shareholder value.
Corporate social responsibility (CSR) has three main dimensions or windows: philanthropy, operational effectiveness, and transforming business models. Philanthropy includes donations, while operational effectiveness improves sustainability. Transforming business models addresses social challenges through new business forms. CSR also considers stakeholders like shareholders, employees, government, and community. It involves balancing business needs with societal responsibilities around areas like the environment, employment, and development. CSR dimensions have evolved over time from ethical and statist models to current stakeholder-focused approaches.
Corporate social responsibility emerged in the 1960s as companies faced increasing pressure to address harmful impacts of their operations. CSR involves voluntary commitments by companies beyond legal and economic obligations. It can be defined as accommodating corporate behavior to societal values and expectations. There are various approaches to CSR, including Milton Friedman's view that a company's only responsibility is to increase profits legally, and Archie Carroll's view that companies have economic, legal, ethical, and discretionary responsibilities. Arguments for and against CSR center around profit maximization, resource fit, and lack of accountability.
- CSR emerged in the 1960s as companies faced increasing pressure to address harmful impacts of operations traditionally handled by governments.
- CSR can be defined as accommodating corporate behavior to societal values and expectations beyond legal and economic requirements.
- There are arguments both for and against CSR, relating to profit maximization, resource fit with social issues, and lack of corporate accountability. However, CSR can also improve corporate image, attract employees, and minimize government intervention.
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.
This document discusses the concept of corporate social responsibility (CSR). It begins by explaining how businesses are increasingly expected to address social issues involving stakeholders, society, the environment, and government. It then provides examples of CSR initiatives undertaken by various large Indian companies to benefit local communities. The document defines CSR as a self-regulating business model that considers the public interest and impacts on people, planet and profits. It acknowledges debates around CSR and whether it distracts from economic roles or is just public relations. Overall, the document outlines the concept and increasing importance of CSR.
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.
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."
Stakeholder theory, ethics and the return on customerekanovich
This document discusses the evolution of corporate social responsibility (CSR) theory and practice. It defines CSR as a company's duty to consider the interests of stakeholders such as employees, communities, and society. The document traces the roots of CSR back to Andrew Carnegie's ideas of charity and stewardship. It outlines key developments in CSR, from early community relations and contributions, to modern strategic integration of social and environmental issues. The document argues that modern consumers expect companies to have CSR strategies and that CSR can increase customer satisfaction and profits. It examines the relationship between CSR, customer returns, and shareholder value.
Corporate social responsibility (CSR) has three main dimensions or windows: philanthropy, operational effectiveness, and transforming business models. Philanthropy includes donations, while operational effectiveness improves sustainability. Transforming business models addresses social challenges through new business forms. CSR also considers stakeholders like shareholders, employees, government, and community. It involves balancing business needs with societal responsibilities around areas like the environment, employment, and development. CSR dimensions have evolved over time from ethical and statist models to current stakeholder-focused approaches.
Corporate Social Responsibility And A CompanyAshley Thomas
Here are the key points I gathered from the document:
- Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of society and take responsibility for its impact on stakeholders such as customers, employees, investors, communities, and the environment.
- CSR goes beyond legal compliance and involves voluntary activities that improve societal well-being. It is about how a company manages its economic, social, and environmental effects as well as its relationships with stakeholders.
- While CSR can help build goodwill and a positive brand image over time, some companies see it as too costly or slow to generate benefits. Implementing CSR activities also requires time and resources which could impact short-term profits.
- The
Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of society through its activities and business
relationships. The document discusses CSR in the context of the global electronics industry supply chain. It identifies key social issues like gender
inequality and discrimination. Environmental issues discussed include pollution and e-waste. Economic issues discussed are tax havens and special
economic trading zones. The document also provides examples of CSR programs addressing communities and education in developing countries.
1. Corporate social responsibility (CSR) is both critical and controversial as some see it as a distraction from businesses' economic goals while others see CSR as important for businesses' long term success and sustainability.
2. There are two main views on CSR - the business view that a company's only responsibility is to increase profits, and the societal view that companies must balance the interests of all stakeholders.
3. Supporters of CSR argue that it provides competitive advantages, helps companies anticipate regulatory changes, and is important for maintaining societal legitimacy and long term financial viability.
1. Corporate social responsibility (CSR) is both critical and controversial as some see it as a distraction from businesses' economic goals while others see CSR as important for businesses' long term success and sustainability.
2. There are two main views on CSR - the business view that a company's only responsibility is to increase profits, and the societal view that companies must balance the interests of all stakeholders.
3. Supporters of CSR argue that it provides competitive advantages, helps companies anticipate regulatory changes, and is important for maintaining societal legitimacy and public trust over the long term.
Corporate Social Resposibility and wealth Maximaza09=\\tion adeyinka adekunle
This document discusses the relationships between corporate social responsibility (CSR) and wealth maximization. It argues that while wealth maximization has traditionally been the primary goal of firms, prioritizing CSR over solely pursuing profits may better serve firms and society. The document analyzes arguments for and against giving priority to CSR. It also examines evidence that CSR and stakeholder satisfaction are weakly linked to wealth maximization, and that firms can pursue both social goals and profits simultaneously through win-win strategies that balance multiple goals.
Business Ethic Chap 5: Corporate Social ResponsibilityShandy Aditya
Berdasarkan buku Hartman, L. P., DesJardins, J., & Macdonald, C. (2014). Business Ethic Decision Making for Personal Integrity & Social Responsibility. United State of America: McGraw Hill Education.
kali ini kita akan membahas chapter 5: Corporate Social Responsibility.
Video Presentation Link:
https://youtu.be/yfVirdn4YMM
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.
Corporate social respobsibility:Is it positive or negative, Contradictory vie...Ali jili'ow
This paper emphasizes weather corporate social responsibility is positive or negative,the paper presents concepts, history and definition of social responsibility, finally the paper discusses different arguments that supports or challenges this concept.
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 provides an overview of corporate social responsibility (CSR). It defines CSR as an organization's obligations to both internal and external stakeholders that may extend beyond legal and economic responsibilities. The document outlines several models for understanding the scope and dimensions of CSR, including its economic, legal, ethical, and discretionary responsibilities. It also discusses the importance of identifying key social issues, conducting social audits, and strategically managing an organization's social responsiveness over time. In summary, the document frames CSR as a multifaceted concept that considers business's roles and impacts on society, stakeholders, and the environment.
Corporate social responsibility (CSR) refers to companies operating in a manner that is ethical, legal, and beneficial to society. While companies' main responsibility was traditionally maximizing profits, CSR recognizes that companies impact communities and the environment and have broader obligations. CSR includes practices like respecting human rights, protecting the environment, contributing to local communities, and ensuring ethical business practices. Companies benefit from CSR by improving relationships with stakeholders, managing risks and reputation, and attracting skilled employees and consumer loyalty.
This document provides an overview of corporate social responsibility (CSR) including definitions of CSR, different views on CSR, and arguments for and against CSR. It defines CSR as a voluntary commitment by companies to behave ethically and improve quality of life for stakeholders. There are two main views on CSR - the shareholder view that a company's only responsibility is to maximize shareholder wealth, and the stakeholder view that companies should treat all stakeholders with dignity. The document also discusses whether companies should be involved in CSR and outlines some pros and cons of CSR engagement.
Corporate Social Responsibility (CSR) is a concept whereby companies integrate social and environmental concerns into their business operations and interactions with stakeholders on a voluntary basis. It involves companies aligning their values and behavior with stakeholder expectations to address issues related to customers, investors, employees, suppliers, public, government and society as a whole. Arguments for CSR include the self-interest perspective that responsible behavior leads to sustainable business success, while arguments against include that addressing social issues comes at a cost to business competitiveness. Specific relevance of CSR today includes changing social expectations, competitive labor markets, stakeholder disclosure demands, dwindling government role, and risk management concerns.
The document discusses corporate social responsibility, business ethics, and social business. It defines CSR as balancing the needs of stakeholders impacted by a corporation's actions, focusing on current relationships with employee and community groups. Business ethics refers to widely acceptable principles that apply to all aspects of business operations and strategy. Social business is defined as a self-sustaining, non-dividend company created to address a social problem, with profits reinvested to increase social impact. The document contrasts CSR and social business, noting social business aims to solve social issues while CSR focuses on stakeholder relationships.
The document discusses the evolving concept of corporate social responsibility (CSR), defining it as a corporation's duty to create wealth through means that protect societal well-being. It outlines the basic elements of CSR, including market forces, mandated social programs, and voluntary social programs, as well as arguments both for and against corporations taking on social responsibilities. The general principles of CSR expressed are that corporations have economic and ethical duties that go beyond following the law, including addressing adverse social impacts and meeting stakeholders' legitimate needs.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
Corporate Social Responsibility And A CompanyAshley Thomas
Here are the key points I gathered from the document:
- Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of society and take responsibility for its impact on stakeholders such as customers, employees, investors, communities, and the environment.
- CSR goes beyond legal compliance and involves voluntary activities that improve societal well-being. It is about how a company manages its economic, social, and environmental effects as well as its relationships with stakeholders.
- While CSR can help build goodwill and a positive brand image over time, some companies see it as too costly or slow to generate benefits. Implementing CSR activities also requires time and resources which could impact short-term profits.
- The
Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of society through its activities and business
relationships. The document discusses CSR in the context of the global electronics industry supply chain. It identifies key social issues like gender
inequality and discrimination. Environmental issues discussed include pollution and e-waste. Economic issues discussed are tax havens and special
economic trading zones. The document also provides examples of CSR programs addressing communities and education in developing countries.
1. Corporate social responsibility (CSR) is both critical and controversial as some see it as a distraction from businesses' economic goals while others see CSR as important for businesses' long term success and sustainability.
2. There are two main views on CSR - the business view that a company's only responsibility is to increase profits, and the societal view that companies must balance the interests of all stakeholders.
3. Supporters of CSR argue that it provides competitive advantages, helps companies anticipate regulatory changes, and is important for maintaining societal legitimacy and long term financial viability.
1. Corporate social responsibility (CSR) is both critical and controversial as some see it as a distraction from businesses' economic goals while others see CSR as important for businesses' long term success and sustainability.
2. There are two main views on CSR - the business view that a company's only responsibility is to increase profits, and the societal view that companies must balance the interests of all stakeholders.
3. Supporters of CSR argue that it provides competitive advantages, helps companies anticipate regulatory changes, and is important for maintaining societal legitimacy and public trust over the long term.
Corporate Social Resposibility and wealth Maximaza09=\\tion adeyinka adekunle
This document discusses the relationships between corporate social responsibility (CSR) and wealth maximization. It argues that while wealth maximization has traditionally been the primary goal of firms, prioritizing CSR over solely pursuing profits may better serve firms and society. The document analyzes arguments for and against giving priority to CSR. It also examines evidence that CSR and stakeholder satisfaction are weakly linked to wealth maximization, and that firms can pursue both social goals and profits simultaneously through win-win strategies that balance multiple goals.
Business Ethic Chap 5: Corporate Social ResponsibilityShandy Aditya
Berdasarkan buku Hartman, L. P., DesJardins, J., & Macdonald, C. (2014). Business Ethic Decision Making for Personal Integrity & Social Responsibility. United State of America: McGraw Hill Education.
kali ini kita akan membahas chapter 5: Corporate Social Responsibility.
Video Presentation Link:
https://youtu.be/yfVirdn4YMM
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.
Corporate social respobsibility:Is it positive or negative, Contradictory vie...Ali jili'ow
This paper emphasizes weather corporate social responsibility is positive or negative,the paper presents concepts, history and definition of social responsibility, finally the paper discusses different arguments that supports or challenges this concept.
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 provides an overview of corporate social responsibility (CSR). It defines CSR as an organization's obligations to both internal and external stakeholders that may extend beyond legal and economic responsibilities. The document outlines several models for understanding the scope and dimensions of CSR, including its economic, legal, ethical, and discretionary responsibilities. It also discusses the importance of identifying key social issues, conducting social audits, and strategically managing an organization's social responsiveness over time. In summary, the document frames CSR as a multifaceted concept that considers business's roles and impacts on society, stakeholders, and the environment.
Corporate social responsibility (CSR) refers to companies operating in a manner that is ethical, legal, and beneficial to society. While companies' main responsibility was traditionally maximizing profits, CSR recognizes that companies impact communities and the environment and have broader obligations. CSR includes practices like respecting human rights, protecting the environment, contributing to local communities, and ensuring ethical business practices. Companies benefit from CSR by improving relationships with stakeholders, managing risks and reputation, and attracting skilled employees and consumer loyalty.
This document provides an overview of corporate social responsibility (CSR) including definitions of CSR, different views on CSR, and arguments for and against CSR. It defines CSR as a voluntary commitment by companies to behave ethically and improve quality of life for stakeholders. There are two main views on CSR - the shareholder view that a company's only responsibility is to maximize shareholder wealth, and the stakeholder view that companies should treat all stakeholders with dignity. The document also discusses whether companies should be involved in CSR and outlines some pros and cons of CSR engagement.
Corporate Social Responsibility (CSR) is a concept whereby companies integrate social and environmental concerns into their business operations and interactions with stakeholders on a voluntary basis. It involves companies aligning their values and behavior with stakeholder expectations to address issues related to customers, investors, employees, suppliers, public, government and society as a whole. Arguments for CSR include the self-interest perspective that responsible behavior leads to sustainable business success, while arguments against include that addressing social issues comes at a cost to business competitiveness. Specific relevance of CSR today includes changing social expectations, competitive labor markets, stakeholder disclosure demands, dwindling government role, and risk management concerns.
The document discusses corporate social responsibility, business ethics, and social business. It defines CSR as balancing the needs of stakeholders impacted by a corporation's actions, focusing on current relationships with employee and community groups. Business ethics refers to widely acceptable principles that apply to all aspects of business operations and strategy. Social business is defined as a self-sustaining, non-dividend company created to address a social problem, with profits reinvested to increase social impact. The document contrasts CSR and social business, noting social business aims to solve social issues while CSR focuses on stakeholder relationships.
The document discusses the evolving concept of corporate social responsibility (CSR), defining it as a corporation's duty to create wealth through means that protect societal well-being. It outlines the basic elements of CSR, including market forces, mandated social programs, and voluntary social programs, as well as arguments both for and against corporations taking on social responsibilities. The general principles of CSR expressed are that corporations have economic and ethical duties that go beyond following the law, including addressing adverse social impacts and meeting stakeholders' legitimate needs.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
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How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
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Garments ERP Software in Bangladesh _ Pridesys IT Ltd.pdfPridesys IT Ltd.
Pridesys Garments ERP is one of the leading ERP solution provider, especially for Garments industries which is integrated with
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3. 1-3
5-3
Business has to take account of its responsibilities to society in coming to
its decisions, but society has to accept its responsibilities for setting the
standards against which those decisions are made.
- Sir Adrian Cadbury
By `social responsibility,' we mean the intelligent and objective concern
for the welfare of society that restrains individual and corporate
behavior from ultimately destructive activities, no matter how
immediately profitable, and leads in the direction of positive
contributions to human betterment, variously as the latter may be
defined.
- Kenneth R. Andrews
Ethics is tougher than
you think . . .
4. 1-4
5-4
Fill your bowl to the brim
and it will spill.
Keep sharpening your knife
and it will be blunt.
Chase after money and security
and your heart will never unclench.
Care about people's approval
and you will be their prisoner.
Do your work, then step back.
The only path to serenity.
-Tao Te Ching
“You never expect justice from a company, do you?
They neither have a soul to lose nor a body to kick.”
- Sydney Smith, 1771-1845, English writer, clergyman
Ethics is tougher than
you think . . .
5. 1-5
5-5
Chapter Objectives
After exploring this chapter, you will be able to:
1. Define corporate social responsibility
2. Discuss the three models of CSR
3. Discuss the challenge in identifying the object of a corporation’s
responsibility.
4. Distinguish key components or elements of the term
“responsibility”
5. Explain the role of reputation as one possible motivation behind
CSR
6. Evaluate the claims that CSR is “good” for business
6. 1-6
5-6
Opening Decision Point:
Does Motivation Matter?
What are the key facts relevant to your judgment?
What is the ethical issue involved in a firm’s decision to
sponsor an event or an organization?
Who are the stakeholders?
What alternatives does a firm have with regard to the way in
which it engages in sponsorship? How do the alternatives
compare, how do the alternatives you have identified affect
the stakeholders?
(Continued)
7. 1-7
5-7
Opening Decision Point:
Does Motivation Matter?
Does the law provide any guidance whatsoever in connection with
the source of funds for particular causes?
What are the consequences of offering greater support to
companies that support causes that are important to you? Who
benefits from that perception and by your judgment?
Do you simply respect the Bank or feel that it is a good corporate
citizen based on its choice of how to spend its money? Can a bank
have “virtues” as understood by virtue ethics?
8. 1-8
5-8
Is there a social responsibility of
business? If so, what is its source?
What is our early concept of a corporation?
1906 definition of the corporation submitted by Ambrose
Bierce in his Devil’s Dictionary: a corporation is “an
ingenious device for obtaining individual profit without
individual responsibility.”
In fact, one of the reasons that individuals who engage in
business “incorporate,” is to create a legal corporate shield by
which to protect themselves from personal liability for the
liabilities of the new corporation.
9. 1-9
5-9
Synonyms for CSR – Others, in your
language?
Corporate Social Responsibility (CSR),
Business Ethics,
Corporate Citizenship,
Sustainability,
Corporate Environmental Management,
Business and Society,
Business and Governance,
Business and Globalization,
Stakeholder Management,
Governance
10. 1-10
5-10
Defining “Corporate Social
Responsibility” (insert obj. 1)
In general terms, CSR encompasses the responsibilities that
businesses have to the societies within which these businesses
operate.
The European Commission defines CSR as “a concept
whereby companies decide voluntarily to contribute to a
better society and a cleaner environment.”
Specifically, CSR suggests that a business identify its
stakeholder groups and incorporate their needs and values
within its strategic and operational decision-making process.
11. 1-11
5-11
What is the difference between
social responsibility and ethics?
Issue Not Illegal Not
Unethical
Socially
Responsible
Employment
Practices
No illegal
discrimination
Fair &
equal
treatment
Diversity
Environment Do not violate
environmental
laws
Don't
pollute
Conserve, reduce,
recycle
Supplier
Sourcing
Don't violate
laws
Don't use
suppliers
who violate
laws or
standards
Reward suppliers
who go above and
beyond
12. 1-12
5-12
Why do it?
Three Models by which to Define
(insert obj. 2)
Advocates for CSR have several bases for their contentions that a
business should go above and beyond the maximization of profits or
at least that CSR activities contribute to that objective.
The models for CSR are based in both ethics (“citizenship”) and
economics, and the language used in each tends to vary.
Not meant to be exclusionary nor all-encompassing; they simply
assist us in discussing areas of differentiation.
K
13. 1-13
5-13
The Corporate Citizenship
Model of CSR
Some companies engage in CSR efforts solely for the public good and do
not expect a commercial return on their contributions.
These organizations believe that they play a particular role in the
community and that their ability to do good – which derives from the
profits they reap – creates a responsibility to do good.
This model often exists where there is a strong leader with a sense of
responsibility and connection to the community.
Example: in Ben & Jerry’s Ice Cream most recent Social &
Environmental Assessment, the company explains that it seeks to create a
“broader, bolder vision of how it can leverage its reputation and its
expertise to advance its Social Mission.”
K
14. 1-14
5-14
The Social Contract Model of
CSR
Second, some CSR proponents argue that corporations reap
the benefits of serving as a community citizen and therefore
owe a reciprocal obligation to that community.
This model holds that the moral rights possessed by various
stakeholders create responsibilities on the part of the
corporation to respect those rights.
15. 1-15
5-15
The Enlightened Self-Interest
Model of CSR
States that the incorporation of CSR can lead to differentiation and
competitive market advantage for the business, something that can be
branded for the present and future. (Also sometimes termed the economic
model)
Some companies have implemented a strong CSR policy and have been
successful in the establishment of a positive brand. Examples: BP and
Nike.
In a 2005 announcement about an increase in funding for green technology
research, General Electric CEO Jeffrey Immelt explained that it was not a “self-
sacrificing attempt to save the planet,” but instead because GE planned “to make
money doing it.”
Under this larger economics umbrella, one would find arguments based in
reduction of risk, market reputation, brand image, stakeholder
relationships, and long term strategic interests.
K
16. 1-16
5-16
Milton Friedman
(August, 2005 BusinessWeek article):
“I believe most of the claims of social responsibility are pure public
relations.”
“The idea that the resources of a company should be distributed by
people on some basis other than ownership and by people who are
not elected for that purpose -- surely, that is a socialist concept
and fundamentally subversive.”
http://www.businessweek.com/magazine/cont
ent/05_33/b3947115_mz017.htm
17. 1-17
5-17
Friedman
A corporate executive has a “responsibility is to conduct
business in accordance with [his or her employer’s]
desires, which generally will be to make as much money
as possible while conforming to the basic rules of
society, both those embodied in law and those embodied
in ethical custom.”
Do they have any other types of responsibilities?
18. 1-18
5-18
Why do it?
The following were cited in a poll throughout eight Western,
developed countries by citizens as the main reasons why firms want to
be socially responsible, good citizens. Note how most could fall
under one umbrella: Company long term strategic interest
Reduced risk
Market reputation/brand image
Relations with stakeholders (attracting & retaining employees,
morale, expedited permits, happy regulators)
Putting something back
The right thing to do/corporate values
Offers social capital or license to operate or grow (give and take)
19. 1-19
5-19
Profit =
Optimal allocation of resources
This common view of CSR has its roots in the utilitarian tradition and in
neoclassical economics.
As the agents of the owners of business, managers have primary
responsibility to pursue maximum profits for shareholders.
By pursuing profits, a business manager functions to allocate resources to
their most efficient uses. Consumers who most value a resource will be
willing to pay the most for it; thereby profit is the measure of optimal
allocation of resources. Over time, the pursuit of profit will continuously
work towards the optimal satisfaction of consumer demand, which in one
interpretation of utilitarianism, is the optimal social good.
20. 1-20
5-20
Application (consider):
“Nestlé chief rejects the need
to ‘give back’ to communities”
March 9, 2005, Boston Herald
“Companies shouldn’t feel obligated to ‘give back’ to communities
because they haven’t taken anything away,” said Nestlé S.A. CEO
Peter Braeck-Letmathe
“Companies should only pursue charitable endeavors with the
underlying intention of making money.”
“It is not our money we’re handing out but our investors’.”
“A company’s obligation is simply to create jobs and make products.
What the hell have we taken away from society by being a successful
company that employs people?”
Do you agree??
21. 1-21
5-21
To whom does business owe this
social responsibility? (Insert obj. 3)
Firms exist in relationships with many stakeholders and these
relationships can create a variety of responsibilities.
It may not be possible to satisfy the needs of each and every
stakeholder in a situation.
Therefore, social responsibility would require decisions to
prioritize competing and conflicting responsibilities.
22. 1-22
5-22
Prioritization of Stakeholders
The prioritization of stakeholders is often determined by a
company’s mission, practice, board or custom.
All too often, however, the prioritization is presumed rather
than intentionally discussed and challenged, which might lead
to entrenchment rather than enhancement of the firm.
23. 1-23
5-23
The Nature and Extent of the
Responsibility (Insert obj. 4)
Is profit, legally made, the only guiding principle of socially
responsible business activities, or should the impact of a
decision on others be considered, even where the law does not
require it?
What do we mean when we say “responsible?”
We might mean that it is reliable, dependable or trustworthy.
A second meaning of responsible involves attributing something
as a cause for some event or action.
A third sense involves attributing liability or accountability for
some event or action and creates a responsibility to make things
right again.
24. 1-24
5-24
The Nature of “Responsibility”
Reference to corporate social responsibility denotes those duties or
restrictions that bind us to act in one way rather than another.
Responsibilities are those things that we ought, or should, do, even if we
would rather not.
Responsibilities bind, or compel, or constrain, or require us to act in
certain ways.
To talk about business’s social responsibilities is to be concerned with
society’s interests that restrict or bind business’s behavior.
Social “responsibility” is what a business
should or ought to do for the sake of society.
25. 1-25
5-25
What should a business do?
Business has the social responsibility to obey the law.
Philosophers would contend that we have responsibilities
beyond the law and they distinguish between different types
of responsibilities, on a scale from more to less demanding
and binding.
First, we have responsibilities not to cause harm to others.
A second, perhaps less binding responsibility, is to prevent harm
even in those cases where one is not the cause.
Finally, there might be responsibilities to do good.
(See next slide)
26. 1-26
5-26
Philosophical priorities in CSR
Do good
Maximize economic, social
and environmental value
Do no harm
Even in those cases
where one is not the cause
Do no harm
Avoid economic, environmental and social harm
27. 1-27
5-27
Corporate “Responsibilities”
Even when not explicitly prohibited by law, ethics would
demand that we not cause avoidable harm. In practice, this
ethical requirement is very close to responsibilities
established by the precedents of tort law.
Beyond the responsibility to obey the law, a second level of
responsibilities would hold that business has a social
responsibility not to violate anyone’s rights.
But there are also cases in which business is not causing
harms, but could easily prevent harms from occurring. A
more inclusive understanding of corporate social
responsibility would hold that business has a responsibility to
prevent harms.
28. 1-28
5-28
A Responsibility
to “Do Good?”
Perhaps the most wide-ranging standard of CSR would hold
that business has a social responsibility to do good things and
to make society a better place.
Many of the debates surrounding corporate social
responsibility involve the question of whether business really
has a responsibility to support such good causes.
Some people argue that, like all cases of charity, this is something
that deserves praise and admiration, but it is not something that
every business ought to do.
29. 1-29
5-29
A Responsibility
to “Do Good?”
Philosophers sometimes distinguish between
obligations/duties and responsibilities to make exactly this
point.
We may have a responsibility to be charitable, but it is not
obligatory nor is it a duty.
Others argue that business does have an obligation to support good
causes and “give back” to the community.
This sense of responsibility is more akin to a debt of gratitude
and thankfulness; something less binding than a legal or
contractual obligation perhaps, but more than a simply act of
charity.
30. 1-30
5-30
Hmmmm.
Who is to decide what is “good” or “responsible?”
Who decides where money should go, what it means to do
“good” for society, or what is “harm?”
31. 1-31
5-31
Exploring Enlightened Self-Interest:
Motivation for CSR (Insert obj. 5)
There are a variety of arguments to motivate a socially responsible firm.
The impact on the bottom line may stem both from customer preference
as well as from employee preference.
The problem with a focus on preference, however, is that social
responsibility becomes merely social marketing.
A firm may use the image of social responsibility to garner customer
support or employee loyalty while the facts do not evidence a true
commitment.
Are motivations relevant? Can a firm
have only one motivation?
32. 1-32
5-32
Does Motivation Matter?
The practice of caring for the “image” of a firm is sometimes referred to
as reputation management.
There is nothing inherently wrong with managing one’s firm’s reputation,
but observers might challenge firms for engaging in CSR activities solely
for the purpose of impacting their reputations.
The challenge is based on the fact that reputation management often
works!
If a firm creates a good image for itself, it builds a type of trust bank
where consumers or other stakeholders seem to give it some slack if they
then hear something negative about the firm.
Similarly, if a firm has a negative image, that image may stick, regardless
of what good the corporation may do.
33. 1-33
5-33
Personal versus professional
choices/reputation
Why does an individual choose to be a good citizen?
Is it different from why a firm might so choose?
“Saying she was impressed by how much they have
contributed to the community, US District Judge Manning
declined to impose the maximum 3 year terms on Andreas
and Wilson.” (ADM scandal, from Chicago Tribune)
34. 1-34
5-34
"The way to gain a good reputation is to endeavor to be what
you desire to appear." -- Socrates (Greek philosopher, 470? -
399 B.C.E.)
35. 1-35
5-35
“Reputation Management or . . . ?”
“Reputation is an idle and most false imposition; oft got
without merit and lost without deserving.”
- Shakespeare (Othello)
‘The judgment good does not originate with those to whom
the good has been done. Rather is was the ‘good’ themselves,
that is to say the noble, mighty, highly placed and high-
minded who decreed themselves and their actions to be
good.”
- Nietzsche
36. 1-36
5-36
Does Good Ethics = Good
Business? (Insert obj. 6)
Let us take a look at the evidence
– It is somewhat persuasive but
one needs to weigh it for one’s
self.
37. 1-37
5-37
Vogel says “only a niche market”
David Vogel contends that, while there is a market for firms with strong
CSR missions, it is a niche market and one that therefore caters to only
a small group of consumers or investors.
He argues that CSR is one option for a business strategy that might be
appropriate for certain types of firms under certain conditions, such as
those with well-known band names, with reputations that are subject to
threats by activists.
He warns of the exposure a firm might suffer if it then does not live up to
its CSR promises.
He also cautions against investing in CSR when consumers are not
willing to pay higher prices to support that investment.
Does Good Ethics = Good Business?
38. 1-38
5-38
SustainAbility concludes
“it does pay!”
Though this perspective is persuasive, a review of the scholarly research
on the subject suggests the contrary on numerous counts, most
predominantly the overall return on investment to the corporation.
Another study found that, in emerging markets, cost savings,
productivity improvement, revenue growth and access to markets were
the most important business benefits of sustainability activities.
The report concludes that it does pay for businesses in emerging markets
to pursue a wider role in environmental and social issues, citing cost
reductions, productivity, revenue growth, and market access as areas of
greatest return for MNEs.
Does Good Ethics = Good Business?
39. 1-39
5-39
Additional Positive Relationships
In addition, studies have found that there are a number of
expected – and measurable – outcomes to ethics programs in
organizations.
Some people look to the end results of firms that have placed
ethics and social responsibility at the forefront of their
activities, while others look to those firms who have been
successful and determine the role that ethics might have
played.
Each of these quantifiable measurements can perhaps serve as
proxies for success, to some extent, or at least would be
unlikely to occur in a company permeated by ethical lapses.
Does Good Ethics = Good Business?
40. 1-40
5-40
Records on Social Issues =
Positive Financials
Moreover, a landmark study by Professors Stephen Erfle and
Michael Frantantuono found that firms that were ranked
highest in terms of their records on a variety of social issues
(including charitable contributions, community outreach
programs, environmental performance, advancement of
women, and promotion of minorities) had greater financial
performance as well.
Financial performance was better in terms of operating
income growth, sales-to-assets ration, sales growth, return on
equity, earnings-to-asset growth, return on investment, return
on assets and asset growth.
Does Good Ethics = Good Business?
41. 1-41
5-41
Good Corporate Citizen =
Good Financial Performance
Another study by Murphy and Verschoor reports that the overall financial
performance of the 2001 Business Ethics Magazine Best Corporate
Citizens was significantly better than that of the remaining companies in
the S&P 500 index, based on the 2001 BusinessWeek ranking of total
financial performance.
A follow-up study to validate these findings was conducted by the UK-
based Institute of Business Ethics. The IBE found that, from the
perspectives of economic value added, market value added and the price-
earnings ratio, those companies who had a code of conduct out
performed those who did not over a five year period.
Does Good Ethics = Good Business?
42. 1-42
5-42
Discussion of Opening Decision
Point: Does Motivation Matter?
The opening Decision Point asks whether you care about why a
firm engages in a particularly socially conscious endeavor.
The ethical decision-making process suggests that you make sure
that you have all of the relevant facts in order to reach a
conclusion.
Are we asking whether it is important to know a firm’s
motivation, or whether a particular motivation is better than
another?
If the latter, do you know the motivation behind a specific action
of an organization? If you are going to judge whether you value
the motivation, let’s be sure that we are clear on what it is.
43. 1-43
5-43
Discussion of Opening Decision
Point: Does Motivation Matter?
If we care about the motivation, why do we care? Why is
motivation important when we consider, for instance, a firm’s
decision to sponsor an event or an organization?
If you are clear on why this is important to you, then you may
be better prepared to find one motivation more desirable than
another.
Who are the stakeholders when we are considering a firm’s
motivation?
44. 1-44
5-44
Discussion of Opening Decision
Point: Does Motivation Matter?
The next inquiry involves the alternatives a firm may have with
regard to the way in which it engages in sponsorship.
One firm might opt to simply add their logo to a program or display a
flag, while another firm might have its name on every element
involved in the particular activity.
Some firms might involve their own executives or employees in an
activity, while others leave the hands-on involvement to an non-
governmental organization (NGO) or community organization.
Do we respond differently, depending on the nature of the firm’s
involvement? Why? How do the alternatives compare, how do the
alternatives you have identified affect the stakeholders?
45. 1-45
5-45
Discussion of Opening Decision
Point: Does Motivation Matter?
What are the consequences of offering greater support to
companies that support causes that are important to you? If
you support a firm that, in turn, supports your causes, then
you are encouraging them to continue to do that. There is an
argument that the firm can have a larger impact than any one
individual so, by supporting the firm, you are going quite a
ways in supporting your particular cause.
What is your conclusion? Do you care?
46. 1-46
5-46
Chapter Five Vocabulary Terms
After examining this Chapter, you should have a clear understanding of the
following Key Terms and you will find them defined in the Glossary:
Corporate citizenship model of CSR
Corporate social responsibility
Enlightened self-interest model of CSR
Ethical custom
Reputation management
Social contract model of CSR