Corporate social responsibility (CSR) refers to voluntary actions that companies take to improve society. While not legally required, many companies practice CSR by making environmental conservation efforts, encouraging green innovation, and donating to charities. CSR affects everyone, including shareholders, employees, customers, communities, and governments. By being environmentally and socially responsible, companies aim to improve lives, preserve resources for future generations, and gain good publicity. Examples of CSR include companies' efforts in areas like environmental sustainability, community volunteering, business ethics, and economic sustainability. Overall, corporate social responsibility shows that companies care about more than just profits and helps make society better for all people involved.
2. WHAT IS CORPORATE SOCIAL
RESPONSIBILITY?
• Corporate social responsibility (CSR) is not a legal requirement
• A choice made by businesses to better society
• Companies that practice CSR may:
• Make environment conservation efforts
• Have high ethical standards
• Encourage green innovation
• Donate/contribute to charities
3. WHO IS AFFECTED BY CSR?
• Everyone is affected by a company’s CSR Including:
• Shareholders
• Employees
• Customers
• The community
• The government
• And many more!
4. CORPORATE SOCIAL RESPONSIBILITY
STANDARDS
• CSR standards are beyond what law requires
• A business decides to/not be socially responsible
• Businesses set the standards they follow
• Consumers hold businesses to those standards
• CSR helps to better society
5. WHY SHOULD A BUSINESS BE
SOCIALLY RESPONSIBLE?
• It is the ethical thing to do
• Most businesses practice some CSR
• More and more consumers care about businesses ethics
• This trend is aided by information available online
• People can access information quickly and easily
• Social responsibility efforts can show in consumer searches
What business doesn’t want some good publicity?
6. HOW DO WE KNOW IF A COMPANY IS
SOCIALLY RESPONSIBLE?
• Companies make their efforts known
• They want to show their good side
• Many businesses incorporate CSR in
marketing
• See Fig. 1. for an example of CSR at Kohl’s
Fig. 1. “Corporate Responsibility at Kohl's.”
7. ENVIRONMENTAL
IMPACT
• Being environmentally conscious is a
form of CSR
• Being environmentally responsible:
• conserves resources for generations to
come
• Impacts everyone on the planet
• Can be costly upfront but save money
long term
• See Fig. 2. for sustainable energy
efforts at Amazon
Fig. 2. Sustainable energy at Amazon “Our Planet.”
8. CORPORATE SOCIAL RESPONSIBILITY
IN COMMUNITIES
• Corporate social responsibility can be community work
• Some companies have volunteer programs
• These programs can involve:
• Helping feed those in need
• Providing a service with no fee
• Mentoring or tutoring
• Cleaning trash/litter from the community
9. CORPORATE SOCIAL RESPONSIBILITY
AND ETHICS
• CSR extends past business interests
• These efforts go beyond legal requirements
• CSR alleviates some ethical problems with businesses
• For example:
• Pollution is unethical and bad for the planet
• A business practicing CSR may
• Make recycling efforts
• Seek to offset carbon emissions
• Promote environmental cleanup
10. ECONOMIC CORPORATE SOCIAL
RESPONSIBILITY
• Economically responsible CSR:
• Improves business practices and
sustainability
• Sustainable business is good for everyone
• Businesses seek more efficient methods
• Resources are preserved
• Communities see benefits
• See Fig. 3. from Coca-Cola’s water
conservation efforts
Fig. 3. Water conservation “Sustainable Business.”
11. HOW DOES CORPORATE SOCIAL
RESPONSIBILITY AFFECT US?
• Companies that practice CSR aim to:
• Improve the environment
• Better the community
• Pursue sustainable business practices
• Corporate social responsibility
• shows that a business cares
• Improves the lives of people involved
• Helps preserve limited environmental resources
• Corporate social responsibility affects everyone
12. WORKS CITED
“Corporate Social Responsibility.” Ethics Unwrapped, McCombs School of
Business, 12 Dec. 2018, ethicsunwrapped.utexas.edu/glossary
/corporate-social-responsibility. Accessed 14 June 2021.
Fig. 1. “Corporate Responsibility at Kohl's.” Kohls, corporate.kohls.com/
corporate-responsibility. Accessed 14 June 2021.
Fig. 2. “Our Planet.” US About Amazon, Amazon, 21 Sept. 2020,
www.aboutamazon.com/planet. Accessed 14 June 2021.
Fig. 3. “Sustainable Business.” The Coca-Cola Company, The Coca-Cola
Company, www.coca-colacompany.com/sustainable-business.
Accessed 14 June 2021.