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.
Corporate Social Responsibility, or CSR, has received growing attention in the past decade. We’ll take a look at the roots of the concept, what it involves and some of the benefits which include lowered costs, improved employee satisfaction and a more positive impact on our world. We’ll also briefly discuss how many external vendors, from local energy auditors to FrontStream with our portfolio of tools, can help you accomplish CSR goals.
Corporate Social Responsibility, or CSR, has received growing attention in the past decade. We’ll take a look at the roots of the concept, what it involves and some of the benefits which include lowered costs, improved employee satisfaction and a more positive impact on our world. We’ll also briefly discuss how many external vendors, from local energy auditors to FrontStream with our portfolio of tools, can help you accomplish CSR goals.
Your Culture Shapes What Your Business BecomesBill Thomas
Your organization’s culture is not what your CEO or executive team believes it is or proclaims it to be. It’s what your employees, customers and investors believe it to be. This article discusses three keys to shaping a culture that aligns with the business, rather than letting one’s culture determine the business.
Report- Impact of CSR on financial performance of the companyBindu Priya Pasham
A team of dedicated professionals from IIM Udaipur, Futurescape and Economic Times have worked on the CSR study of 2015 and has listed India’s top 100 companies for CSR in the year. The top 5 companies and the bottom top 4 companies of the list i.e. 95-99 companies will be considered. The financial data of those companies will be taken and ratios will be performed, so that we come to know whether CSR policy has benefited the companies financially or not.
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.
The work of HR part two the flow ofinformation and work.docxchristalgrieg
The work of HR part two: the flow of
information and work
Harnessing
the power
of corporate
culture
STRATEGIC COMMENTARY
Laurent Jaquenoud
e-HR
Employee self-service at RDF
HOW TO...
Integrate corporate culture and
employee engagement
PRACTITIONER PROFILE
Julie Bass, Groupama
METRICS
Rating intellectual capital
HR AT WORK
Tailored recognition at Lloyds TSB
Asset Finance
HR AT WORK
Transport for London’s
non-traditional training
REWARDS
Communicating employee
recognition at MDOT
RESEARCH AND RESULTS
Effective recruiting tied to stronger
financial results
September/October 2005
Volume 4, Issue 6
PAGE 20
DEPARTMENTS
Ethics and strategy innovation at Citigroup
How O2 built the business case for
engagement
Creating a business-focused IT function
Developing leaders for a sustainable
global society
Defining the strategic agenda for HR
FEATURES
by Dave Ulrich and Wayne Brockbank
32 Volume 4 Issue 6 September/October 2005
VER THE PAST DECADE, increasing
focus has been placed on the role that
businesses can – and should – play in
contributing to a sustainable global society.
Failure to face up to these challenges has significant costs.
Increasingly, a firm’s long-term competitiveness is
dependent on how creatively and adroitly its leaders
manage at the intersection of financial, social and
environmental objectives.
Responsibility for assuring that leaders at all levels in
the firm are ready to meet these rising expectations is
widely shared throughout the corporation, but HR
professionals, particularly those responsible for leadership
development, can be at the forefront of the effort.
To be in this vanguard, leadership development
experts must reflect on two critical questions: What
kind of leader is called for? And how do we develop
individuals with these capabilities? Since 1999 the
Aspen Institute’s Business and Society Program has
been convening experts in leadership development
from academic institutions, corporations and
professional service firms around the world, inviting
them to share insights on these questions. This article
details what we have learned so far from conversations
with these leading thinkers.
A new model for business leadership
If we are now expecting businesses to operate with a
longer-term view that takes social and environmental
impacts into account, we need a new model of
leadership to achieve that result. Typically, “new
model” leaders:
• are able to span boundaries, listen to diverse
constituencies and be willing to be altered by any of
these inputs;
• have the courage to make tough decisions in a way
that acknowledges the often conflicting
values/expectations of these constituencies;
• are enriched, not overwhelmed, by complexity and
diversity;
• build a team that is stronger than its individual parts;
• see the firm in a larger context, considering social and
environmental issues beyond the corporation’s gates;
• move beyond solving specific problems or addressing
particular needs ...
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?
The CEO Report_Oxford Univeristy & Heidrick & StrugglesNiren Thanky
Our unique research initiative brought together two globally renowned institutions with a shared purpose of helping to enhance the practice and positive impact of leadership throughout the world.
The CEOs we interviewed represent every industry and geography, these global leaders have nearly 900 years of CEO experience at companies employing 6 million people, generating nearly $2 trillion in revenue.
‘The CEO Report – Embracing the Paradoxes of Leadership and the Power of Doubt’ was launched in Davos at the World Economic Forum 2015
The CEO Report offers unique insights into how CEOs experience the changing nature of their role and turn their new challenges into opportunities for business and personal growth.
A stakeholder approach to corporate social responsibility, reputation and bus...Shifur Rahman
A stakeholder approach to corporate
social responsibility, reputation and
business performance
A research paper based presentation. The paper is available through the link mentioned below............
http://hdl.handle.net/10536/DRO/DU:30073833
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
1. Corporate Social Responsibility:
What it really is, Why it’s so important, and How it should be managed
David Waldman1, Ron S. Kenett2, & Tami Zilberg3
Corporate social responsibility (CSR) is a topic that is increasingly capturing the interest
and imagination of people in the business world. However, despite all of the attention that has
been given to this issue, there is still much confusion and many misperceptions surround it. The
objectives of this article are to briefly and concisely add clarity to the understanding of CSR
based on our experiences, as well as leading research on the topic. We describe how CSR links
back to key managerial concerns such as strategic planning, organizational development, human
resource management, risk management, supply chain management and ongoing operations. We
address three specific questions: (1) what exactly is CSR, (2) why is CSR so important for the
business world to consider, and (3) what should corporate decision-makers and leaders do in an
attempt to properly manage CSR.
First, let’s clear up one misconception. CSR is not all about philanthropy or doing
charity services for the community. This is not to say that such activities are unimportant. These
actions on the part of a firm can help establish good relations with community members and
leaders, however philanthropy and related actions are at best superficial manifestations of CSR.
Restricting CSR to philanthropy can even have a negative impact on the organizational climate.
For example, employees may become cynical if it becomes aparent that while the organization is
generous in terms of charities, it does not express adequate sensitivity to working conditions or
employees' safety; the public might become critical if it turns out that the organization does not
show responsibility to environmental issues.
Our main message is that in order to understand CSR, one must consider the holistic
attempt, on the part of a firm, to engage and conduct a meaningful dialogue with a wide
spectrum of constituents or Stakeholders. The Stakeholders are any individual or group, that
might affect or be affected by the organization' activities. Examples to stakeholders are
s
employees, suppliers, contractors, customers/clients, shareholders, government, community
leaders and non-governmental organizations.
A firm that is committed to employee development and empowerment is, de facto,
already practicing some components of CSR. A firm that openly shares information with
employees about a move toward downsizing, and then helps displaced employees find new jobs,
is actively practicing CSR. Moreover, a firm that is committed to the production of safe,
reliable, and innovative products or services in line with customer needs is strategically involved
in CSR. CSR is, therefore, a management approach that takes into consideration an integrated
1
School of Global Management and Leadership, Arizona State University , Phoenix, Arizona 85069-7100, USA
2
KPA Ltd., Raanana, Israel and Department of Statistics and Applied Mathematics "Diego de Castro", University of
Torino, Torino, Italy
3
Founder and Head of Israel Center for Social Responsibility, author on CSR issues, member of the ISO Working
Group and Editing Committee for ISO26000, the Standard for Social Responsibility
2. 2
set of indicators that map the firm' impact and reciprocal effects within the realm of its
s
economic, societal and environmental existence.
Why is CSR so important? Most importantly, findings from scientific research are
becoming increasingly clear with regard to how CSR is essential for the long-term sustainability
of a firm. Firms that blindly and narrowly pursue the profit motive, without concern for the
broad spectrum of Stakeholders that are relevant to the long run, are increasingly shown to lack
sustainability. But it’s not only important to realize the importance of these groups. Firms must
also be able to “connect the dots” and understand how various Stakeholders, and the satisfaction
of their needs, represent interrelated challenges. For example, the strategic management of
human resources is related to customer satisfaction, and it is essential for firms to attempt to
understand and deal with this connection.
So with all of this in mind, how should CSR be managed? First, let’s clarify how it
should not be managed. Most executives and policy-makers have a feel for CSR and its potential
importance. However, too often they tend to select one isolated issue, mistakenly refer to it as
"CSR Management", and attempt to magnify it and use it for advertising or marketing purposes
in order to improve a firm’s image. In addition, managers may miss the "big picture" while
engaging solely in a strictly rational or economic decision-making process in an attempt to
determine the precise return on investment for money put into CSR.
We argue that such limited rational or manipulative thinking will backfire in the long run.
Stakeholders will eventually catch on and will perceive that the firm is not being authentic or
“real” in its approach to CSR. In other words, if managers do not recognize the full
ramifications of CSR in terms of what it is and its complexities, they might be better advised to
not even concern themselves with it. Managers should have a genuine or authentic desire to
pursue CSR in order to truly realize its benefits for themselves, their firms, and stakeholder
groups. To say it another way, managers should attempt to lead CSR, rather than just manage
CSR.
Leading CSR
But what exactly does it mean to lead CSR, and how can managers approach such
leadership? We see three implications based on our recent research. First, the type of values that
managers apply to their decision-making appears to matter. A recent multinational study of
CEOs in 15 countries suggested that executives can apply two types of values to their decision-
making.4 On the one hand, they can stress economic factors such as profits, cost control, and
market share. On the other hand, they can consider the effects of decisions on constituent groups
such as employees, customers, environmentalists, and the greater community in which they
operate. To be sure, these are not mutually exclusive categories, and each type can, and should,
be considered when executives go about making decisions. However, the research showed that
the executives who reported stressing the constituent group values were seen by subordinates as
4
For more information about this research, see: Waldman, D. A., Sully, M., Washburn, N, & House, R. J. 2006.
Cultural and leadership predictors of corporate social responsibility values of top management: A GLOBE study of
15 countries. Journal of International Business Studies, 37: 823-837.
3. 3
being inspirational – for example, being visionary and having integrity. They were also viewed
by subordinates as having less authoritarian leadership tendencies. Conversely, managers who
stressed the economic values were seen as less inspirational. Instead, they were viewed as being
more authoritarian. Furthermore, inspirational leadership was associated with better firm
performance and employee extra effort and commitment; no such relationship was found for
authoritarian leadership.
The upshot is that strong executive values stressing economic factors may go
“unrequited” – in other words, no positive returns for attempts to emphasize such values in one’s
decisions and actions. But values more in line with CSR appear to achieve desirable returns in
terms of how the leader is viewed by subordinates, as well as subsequent outcomes for the firm.
Unfortunately, various authors have noted how management cultures and educational processes
(such as MBA programs) seem to stress economic decision-making values, as opposed to
constituent group values.5 With such forces at play, the leadership challenge is made even more
immense.
Second, it is important to consider how the implementation of CSR cannot be a one-
person show. In other words, it takes commitment from managers below the top-level executive
to implement CSR policies and practices. The research mentioned above also revealed how top-
level executives with strong constituent group values and those viewed as inspirational tended to
beget subordinate managers who shared similar values. Perhaps they surrounded themselves
with subordinates of like mind, or perhaps subordinates gradually start to share the same values
of these executives. Either way, there appears to be a dominoes effect whereby the values of
top-level executives show up in the values of their followers. Although to some degree these
values also tended to differ across countries involved in the research, the effect of top-level
leadership on the values of their subordinates was consistent.
Third, other research would suggest that values are not enough. To a large degree, the
effective implementation of CSR can be complex, sometimes requiring the balancing of
seemingly disparate interests of various constituent groups. To lead CSR, an executive may need
to help followers see the connection between what may appear to be competing goals. For
example, followers may need to be able to better envision how the pursuit of profits or other
strategic goals can be balanced with the firm’s desire to contribute to the welfare and economic
development of the greater community, nation, or even the world in which the firm exists.
To illustrate, the CEO of a Fortune 500 company had been trying to energize his top
management team and their immediate subordinates to focus on a totally new conceptualization
of the firm’s strategy – relying primarily on economically-based projections and plans.6 Yet
because of the uniqueness and change involved in the strategy, it was facing skepticism from
followers. The CEO organized a three-day retreat with his top 200 executives to discuss the new
5
As an example, see: Ghoshal, S. 2005. Bad management theories are destroying good management practices.
Academy of Management Learning and Education, 4: 75-91.
6
For more information on this example, see: Waldman, D. A., Siegel, D., & Javidan, M. 2006. Components of
transformational leadership and corporate social responsibility. Journal of Management Studies, 43:1703-1725.
4. 4
strategy in an attempt to build commitment to its implementation. During the first day, the CEO
and other speakers provided details on the new strategy and engaged in a variety of discussions.
By mid-afternoon, it was evident that there was not a clear connection to the group. The CEO
decided to shift gears and started talking about how the new strategy would help the company
contribute to the global fight against AIDS. He started this section by a slide showing the word
IMAGINE. Then he talked about how the war against AIDS could benefit from the new
strategy, even though the company is not even involved in medically-based industries.
The impact of the short talk about AIDS was strong, and the mood of the group showed a
noticeable change. The lower-level executives and managers started showing a stronger interest
in the firm’s new strategy. During formal and informal discussions that evening and the next
two days, many references were made to how that new strategy could be connected to the battle
against AIDS. Upon completion of the retreat, the participants rated the discussion about AIDS
as one of the retreat’s highlights. The gathering started with a large group of skeptics and
seemed to have ended with a large group of energized and mobilized executives.
So what exactly does this case illustrate? We identify two key lessons to be learned.
First, followers may sometimes need to be stimulated intellectually in order to see how
competitive or economically-based goals can be connected to, or congruent with, goals involving
a wider range of constituencies or the greater community. Second, by framing a firm’s strategy
in terms of socially-based values or goals, there will be more of a tendency for followers to want
to identify with that strategy – and indeed with the firm as a whole. With such identification also
comes commitment to carrying out the firm’s strategies and goals.
Putting it All Together
We have made the case here that CSR is a holistic approach and that it would be ill
advised to consider parts of it in narrow or simplistic terms. We have also considered the danger
of thinking about the pursuit of CSR using a limited financial or manipulative framework,
whereby any component of CSR is restricted to calculations in terms of projected returns.
We have further considered the leadership element which is so often missing in
formulations of CSR. To lead CSR requires a combination of values and behaviors on the part of
leaders. The bad news is that such values and behaviors are not consistently stressed in
management networks or institutions, such as MBA programs. The good news is that, if
realized, the values and behaviors mentioned in this article can foster impressions of inspirational
leadership and integrity. What person in a leadership role would not like to be viewed as such a
leader? In addition, the firm is likely to realize important outcomes such as employee
commitment and optimism for the future, as well as performance.