What is the business of business
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This document discusses two opposing views on the role of business in society: 1) "The business of business is business" which argues that the sole purpose is shareholder wealth, and 2) corporate social responsibility which sees an implicit social contract. It argues that social issues are fundamental to long-term business value and critics are at loggerheads. While CSR is limited, mapping social issues to corporate strategy could establish higher standards of integrity and transparency through explicit strategic planning processes and more active involvement in external debates.
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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.
Cretical perspective of Corporate social responsibility in developing countries
This document discusses corporate social responsibility (CSR) in developing countries from a critical perspective. It notes that while CSR is often touted as benefiting poverty alleviation and development goals, current CSR approaches have limitations. The document explores definitions of CSR, criticisms of CSR including that it is "bad capitalism" or "weak CSR is bad development." It argues a critical research agenda is needed to better understand CSR's potential and limitations for development.
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This document discusses corporate social responsibility (CSR) in India, including its dimensions and challenges. It begins by providing background on CSR and defining it as companies integrating social and environmental concerns voluntarily into their business operations and interactions with stakeholders. The document then examines drivers of CSR like demands for disclosure, customer and investor pressure. It outlines dimensions of CSR like economic, legal, ethical and discretionary responsibilities. Challenges of CSR in India are also summarized, such as lack of community participation, need to build local capacities, issues of transparency and non-availability of clear guidelines. Examples are provided of CSR practices by Indian companies Reliance and Tata.
BA 362 ch005.ppt
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.
Stakeholder theory, ethics and the return on customer
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 customer
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.
Csrstake
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.
Presentation2
Corporate social responsibility (CSR) refers to companies considering social and environmental impacts in their business operations and stakeholder interactions. Strategic CSR allows companies to balance economic and societal value creation, manage stakeholder relationships, and develop sustainable practices. Integrating CSR into strategic management requires companies to consider their economic, legal, ethical, and discretionary social responsibilities. This can provide competitive advantages like customer loyalty. A company's mission statement should reflect its ethical standards and stakeholder concerns. Effective CSR integration involves embedding ethics into organizational culture, diagnosing social responsibilities, and generalizing the CSR approach throughout company activities.
8Corporate social responsibility
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
The document discusses corporate social responsibility (CSR) and related topics. It begins by outlining traditional government responsibilities and the growth of the private sector and foreign investment. It then poses questions about private sector obligations beyond profit/employment generation. It lists stakeholders and questions around their definition and role. The document explores how CSR involves dialogue between companies and stakeholders, respects social contracts, and goes beyond basic legal/philanthropic responsibilities. It also discusses perspectives on CSR as a requirement rather than luxury in today's transparent information age.
11.vol 0003www.iiste.org call for paper no 2 pp 180-201
This document discusses corporate social responsibility (CSR) initiatives of major fast-moving consumer goods (FMCG) companies in India. It begins with an abstract that notes CSR initiatives in India typically focus on environment, health, education, community welfare, and women's empowerment. It then provides context on CSR frameworks and ratings. Major Indian FMCG companies like Hindustan Unilever are highlighted as doing work in areas like CO2 reduction. The Karmayog CSR rating system is discussed as a way to evaluate companies' CSR performance. Appendices provide more details on the top three Indian FMCG companies' overall CSR initiatives.
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What is the business of business
- 1. WHAT IS THE BUSINESS OF BUSINESS? ANAND KUMAR JHA
- 2. The Great Debate Two views on Role of Business in Society “The business of business is business.“ - Milton Friedman This view was established in Anglo-Saxon economies. The sole legitimate purpose of business is to create shareholder wealth. Corporate Social Responsibility Role of Big Companies & Its CEOs Ethics and Strategy An implicit social contract - the relationship between big business and society
- 3. Critics at Loggerheads The business of business is business Legal / Statutory Issue Social issues are not tangential rather it are fundamental to business. Made them unconcerned about long term value creation opportunities. To address questions about their ethics and legitimacy
- 4. Is CSR the answer? Only CSR, No. CSR approach is limited as an agenda for corporate action. It is disconnected from corporate strategy as it fails to capture potential importance of social issues in corporate strategy. To map long-term options and responses. To be rooted in the development of strategy.
- 5. Common Meeting Ground: A New Approach Introduce explicit processes - as part of overall strategic planning. An implicit contract between big business and society – Relationship between Economy & Society. Understand and manage. Establish higher & appropriate standards of integrity and transparency. more actively involved in external debates.
- 6. Thank You
- 7. Thank You