Corporate Social Responsibility

In: Business and Management

Submitted By yangyiming09
Words 1964
Pages 8
Corporate Social Responsibility
Literature review

Today, the highly competitive business environment demands an increasingly sophisticated market strategy. In order to satisfy customer’s needs and gain competitive advantages, companies have to take consistent effort to create further value in to their products or services. In the meantime, worldwide government’s policy and legal system are adding more pressure on environmental sustainability. On top this, modern customers are asking for sustainable approach (Gauthier, 2005) and the investors are getting more sophisticated not only on company’s financial performance but also on the company’s sustainability and social responsibilities. All of the factors above, made merely financial oriented approach are not sufficient anymore, the companies who have the ambition to compete globally have to have a forward point of view and establish the sustainable marketing approach.

Definition and Debate of CSR
The concept of CSR has appeared into public view over last several decades, but a clearer definition has not been reached yet. In principle, CSR refers to a collection of value sheared with business stakeholders, namely, the business approach should meets or exceeds the ethical, legal, commercial and public expectations that holds by society, in order to achieve the sustainable development of the planet. Generally speaking, the concept of CSR widely ranged from ethical standard to accomplish the welfare of society. One famous definition done by Norwegian Prime Minister Gro Harlem Brundtland(1980) “Meeting the needs of the present without compromising the ability of future generations to meet their own needs”. CSR concept requires the companies to behave responsibly and contribute the development of social welfare as a citizen and a cooperator.

The debate around CSR has never ceased since the beginning of the…...

Similar Documents

Corporate Social Responsibility

...Activities 15 Theoretical Discussion on CSR Practices 19 Why The Reporting Necessary in relation to CSR Practices 22 Standard of Listed companies in Bangladesh with Regard to Social Audit 23 * Part Three: Objectives, Scope & Methodology of the Study Objectives 26 Scope 27 Methodology 28 * Part Four: Findings of the Study Sample Enterprises 30 Areas of Social Responsibilities Discharged 33 Reporting Practices 36 Evaluation 37 * Part Five: Conclusion Summary of the Findings 39 Future Directions 40 References 42 Part one: Introduction A Brief Description of CSR Corporate social responsibility (CSR), also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business (SRB), or corporate social performance, is a form of corporate self-regulation integrated into a business model. Ideally, CSR policy would function as a built-in, self-regulating mechanism whereby business would monitor and ensure its support to law, ethical standards, and international norms. Consequently, business would embrace responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Furthermore, CSR-focused businesses would......

Words: 4961 - Pages: 20

Cigna-Corporate Social Responsibility

...Examples of Corporate Social Responsibility “The concept of corporate social responsibility means that organizations have moral, ethical, and philanthropic responsibilities in addition to their responsibilities to earn a fair return for investors and comply with the law” (Corporate Social Responsibility, 2009). While Corporate Social Responsibility (CSR) can be practiced by companies in many different ways, the most well known examples are how business is conducted internally, including business ethics, community involvement, and environmental responsibility. But the concept of corporate social responsibility extends far beyond what the company is doing for the community around them and how they handle business internally. It affects employees, consumers, and investors and each of these groups have a different idea of how companies should be conducting business and these ideas need to be taken into consideration when drafting their CSR reports. Cigna is a good example of how publicly traded companies formulate and report their involvement in CSR. Community involvement and philanthropic activities are some of the most visible ways companies can market to their consumers as well as potential employees. “Cigna believes that investing in the health of their communities directly connects with their overall success” (Corporate Responsibility, n.d.). They provide their employees with a variety of programs to help them get involved with the surrounding community. Some......

Words: 964 - Pages: 4

Corporate Social Responsibility

...GHANA CHRISTIAN UNIVERSITY COLLEGE AMRAHIA, GHANA CORPORATE SOCIAL RESPONSIBILITY (CSR) OF ZAIN GHANA, A MARKETING STRATEGY FOR COMPETITIVE ADVANTAGE OR TRULY GIVING BACK TO THE SOCIETY: A CASE STUDY OF ZAIN’S SCHOOL BUILDING PROJECT AT ODUMASI-KROBO. YEBOAH-MANTEY EMMANUEL APRIL 2010 CORPORATE SOCIAL RESPONSIBILITY (CSR) OF ZAIN GHANA, A MARKETING STRATEGY FOR COMPETITIVE ADVANTAGE OR TRULY GIVING BACK TO THE SOCIETY: A CASE STUDY OF ZAIN’S SCHOOL BUILDING PROJECT AT ODUMASI-KROBO. YEBOAH-MANTEY EMMANUEL A CAPSTONE PROJECT SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF DEVELOPMENT MANAGEMENT DEGREE APRIL 2010 STUDENT’S DECLARATION I hereby declare that this project work is the result of my own original research and where I have use others’ materials, I have fully acknowledged them Signature: ……………………… Date: …………………………… (YEBOAH-MANTEY EMMANUEL) SUPERVISOR’S DECLARATION I hereby declare that the preparation and presentation of this project work was supervised in accordance with the guidelines on supervision of Capstone Project as laid down by Ghana Christian University College Signature: ………………………… Date: …………………… Acknowledgements Table of Contents Declaration I Acknowledgements II Table of Contents III Abstract............................................................................................................

Words: 13052 - Pages: 53

Corporate Social Responsibility

...ABSTRACT The new company law has been put in place by the government with best intentions and it is now the turn of the corporate sector to demonstrate that it will play according to the rules. The government on its part must trust the corporate sector to function honestly and also keep a watch. The Companies Act, 2013, enacted on 29th August, 2013 on accord of Hon’ble President’s assent, has the potential to be a historic milestone, as it aims to improve corporate governance, simplify regulations, enhance the interest of minority investors and for the first time legislate the roles of whistle blowers. The 2013 Act has introduced several provisions which would change the way Indian corporates do business and one such provision is spending on activities of Corporate Social Responsibility. The importance of Corporate Social Responsibility is increasing in Indian Corporate scenario because organisation have realize that ultimate goal is not profit making beside this trust building is viable and assertable with societal relationship. “Companies Act 2013: A Revolutionary Legislation or Not” “Businesses need to go beyond the interests of their companies to the communities they serve.” ~Ratan Tata, Former Chairman the Tata Group India had a long tradition of corporate philanthropy and industrial welfare has been put to practice since late 1800 A.D. Historically, the philanthropy of business people in India has resembled......

Words: 2412 - Pages: 10

Microsoft Corporate Social Responsibility

...Microsoft Corporate Social Responsibility ETH/361 July 21, 2014 Lorece Tietjen Microsoft Corporate Social Responsibility: Introduction The Microsoft office was ranked number one company for their Corporate Social Responsibility reported by Reputation Institute’s 2012 CSR Rep Trak 100 Report, around the world. This study was conducted via various indications such as Citizenship, Governance and Workplace and Microsoft received the first category of Governance and the top ranking all the world. Defining Citizenship in terms of CSR ranking describe the company’s support to the citizen and protects their environment. Governance describes how the company’s ethical behavior and its transparency with their business dealings with the government. The last portion of ranking is the Workplace and it is one of the major setbacks for every employee and the environment. Companies were ranked on how the workplace appealed to their employees, as a place to work and to meet the Occupational Health and Safety standard and treated their employees well. Corporate Social Responsibility (CSR) Microsoft’s perspective is strongly to support European Union and the Member States in promoting dialogue, productivity, share the CSR to their surroundings and create employment opportunities to their partnering countries and within the US. The CSR concentrates in the following region; • Education and Digital Inclusion provides access to the......

Words: 503 - Pages: 3

Corporate Social Responsibility

...CORPORATE SOCIAL RESPONSIBILITY is a term which is no longer a cliché. Discussions and debates on this subject abound. The topic gains more prominence with the backdrop of recent disturbing economic downturns, and the disgruntlement against the activities of the big corporates, more particularly in the developing countries. There is a movement against what people perceive as a move to corporatize each and every activity of human life. All these things have only added to the controversy surrounding the corporates, and the need to make them more responsible to the society and its environs. Corporate Social Responsibility (CSR), in simple terms, means an ethical practice which ensures that the corporation functions with a strong social bonding and societal commitment. It is a mechanism to achieve a fine balance between the corporate worlds, society in general, and their interplay with the government. In what started as an ethical need within the corporate houses in response to a clamor for the same, x Introduction this concept has now developed greatly. The nature of the business, and the stranglehold and hegemony of the corporates, have considerably dwindled. Smaller players, which are more popularly known as the Small and Medium-sized Enterprises (SMEs) have grown in strength, and contributed massively, in that they form the substratum of any sustainable economy. This is perhaps the reason that even the world’s most esteemed body, namely the United Nations Industrial......

Words: 359 - Pages: 2

Corporate Social Responsibility

...Corporate Social Responsibility – How the new companies’ bill-2013 will affect the lives of people in India. JOSHI BABU.PALLI 13SSMA35 Contents 1. Corporate Social Responsibility (CSR)-Definition 2. CSR history in India 3. Role of CSR in society –Indian perspective 4. Indian companies’ achievements as part of CSR so far 5. Companies bill-2013 6. Benefits and challenges to the society 7. Conclusion 1. Corporate Social Responsibility-Definition There are so many definitions are there which defined the Corporate social responsibility(CSR) in their own way but most acceptable definition is given by Lord holme and Richard watts in the book “making good business sense” i.e. “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” with this definition we can understand that CSR that corporate companies’ contribution to the betterment of society by funding and as well as organizing the social works and fighting against the social evils. Many countries have their own terminology for CSR for example: USA uses corporate citizenship and some other countries use sustainable business etc. The concept of CSR originated in the 1950’s in the USA and the concept came into prominence in public debate during the 1960’s and 1970’s. At that time US had lots of pressing social problems......

Words: 2599 - Pages: 11

The Corporate Social Responsibility Equation

...Jessica Macaluso Dr. Smith-Hunter Sociology of Work April 14, 2015 Rewriting the Corporate Social Responsibility Equation Many people believe that corporate social responsibility begins with the cause of the problem. In “Rewriting the Corporate Social Responsibility Equation” by David Hessekiel, he explains that the equation begins with the business objective instead. If an organization focuses on how to incorporate corporate social responsibility into its business plans, it can benefit both parties greatly. Focusing on business before finding a cause to support may seem selfish. Perry Yeatman, from Mission Measurement says “…whether the business outcome is saving money or generating revenue, social impact efforts must be tied to mission critical activities in order to receive the funding, staffing and attention they need to succeed” (1). The best way for an organization to approve an investment in a worthy cause is to prove that it fits the overall business plan. If the investment does not provide a benefit for the company, it will be very vulnerable to budget costs later on down the road. Kraft Foods provides a great example of how they put business objectives first regarding the corporate social responsibility equation. Being “one of the largest buyers of branded cocoa in the world”, Kraft decided that they would support a supply chain issue for cocoa production in Ghana by dedicating millions of dollars to the cause. Their investment vastly improved......

Words: 584 - Pages: 3

Corporate Social Responsibility

...Corporate Social Responsibility Corporate social responsibility refers to a business practice that involves participating in initiatives that benefit society. Liz Maw, CEO of nonprofit organization Net Impact, noted that CSR is becoming more mainstream as forward-thinking companies embed sustainability into the core of their business operations to create shared value for business and society. Sustainability isn’t just important for people and the planet. But also is vital for business success” said Maw, whose company connects students and professionals who want to use business skills to do social good. Communities are grappling with problems that are global in scope and structurally multifaceted like ebola, persistent poverty, climate change. The business case for engaging in corporate social responsibility is clear and unmistakable. Billions are at stake if last and large scale action is not taken. As consumers awareness about global social issues continues to grow. So does the importance these customers place on CSR when choosing where to shop. Honestly technology has brought global connectivity and enable advocacy and awareness for social situations that were once obscure. Millennials are redefining what it means to connect and give back through this technology. It’s not about just having recycling programs or products. People want to feel good about what their dollar is doing. Consumers aren’t the only ones who have drawn to the businesses that give back. Susan Cooney......

Words: 793 - Pages: 4

Corporate Social Responsibility and Corporate Image

...1857-8047 CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE IMAGE Ayanda, Adebayo Maruf Department of Business Administration and Management Technology, Faculty of Management sciences, Lagos State University, Ojo, Lagos- Nigeria. Baruwa, Akinfolarin Afeez Department of Business Administration and Management Technology, Faculty of Management sciences, Lagos State University, Ojo, Lagos- Nigeria Abstract This article analyses the impact of corporate social responsibility on corporate image, basing the findings theoretically and empirically. The first part of this article focuses on a theoretical concept of corporate social responsibility. The authors analyze different definitions of corporate social responsibility, review chronological development of this concept and reveal similarities between different definitions. Positive and negative positions towards corporate social responsibility are presented and compared. The second part of this article reveals the theoretical concept of corporate image and the constituting factors. After discussing different definitions of corporate image, concluding remarks are made. The authors of this article discuss the topicality of corporate image management subsequently and name the factors that form corporate image, laying out the basis to manage particular factors. The first two parts of this paper provide a theoretical basis for further discussion. The third part of this article outlines insights for causality between corporate social......

Words: 7229 - Pages: 29

Corporate Social Responsibility

...Business Ethics Assignment Corporate Social Responsibility Table of Content_____________________________________________________ ______ What is corporate social responsibility? 3 Why Has CSR Become Important? 4 3. What Is The Business Case For CSR? 4 4. Potential benefits of implementing a CSR approach 5 5. Are Firms Benefiting From CSR Activities? 7 6. What Is The Relationship Between CSR And The Law? 8 7. Implementing Corporate Social Responsibility________________________ 8 8. CSR Implementation Framework and Corporate Governance__________ 9 9. What Is a CSR Strategy? 11 10. Why to Have a CSR Strategy?_______________________________________11 11. How to Develop A CSR Strategy?____________________________________11 11.1 Build support with senior management and employees______________ 11 11.2 Research what others are doing___________________________________ 11 11.3 Prepare a matrix of proposed CSR actions__________________________ 12 11.4 Develop options for proceeding and the business case for them______13 11.5 Decide on direction, approach and focus areas____________________ 14 12. Can You Have Social Responsibility Without Ethics?__________________ 15 13. Corporate social responsibility as business strategy__________________ 20 ...

Words: 10867 - Pages: 44

Corporate Social Responsibility

...ASOCIO Policy Paper CORPORATE SOCIAL RESPONSIBILITY Date: June 2004 Table of Contents 1 CORPORATE SOCIAL RESPONSIBILITY ........................................................... 2 1.1 What is corporate social responsibility? ........................................................ 2 1.2 Asia Pacific Perspective ................................................................................ 2 1.3 Corporate Social Responsibility: Unlocking the value................................... 3 1.4 World Economic Forum & CSR ..................................................................... 3 1.5 Case Studies ................................................................................................. 4 1.6 Should ASOCIO have a role? ....................................................................... 5 CORPORATE SOCIAL RESPONSIBILITY ASOCIO Policy Paper June 2004 1 CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility (CSR) is becoming an increasingly important activity to businesses nationally and internationally. As globalisation accelerates and large corporations serve as global providers, these corporations have progressively recognised the benefits of providing CSR programs in their various locations. CSR activities are now being undertaken throughout the globe. 1.1 What is corporate social responsibility? The term is often used interchangeably for other terms such as Corporate Citizenship and is also linked to the concept of......

Words: 1624 - Pages: 7

Corporate Social Responsibility

...Amy Huddleston Kimberly Gleason BA_3300 Business Cornerstone – Spring 2016 14 April 2016 Corporate Social Responsibility (CSR) Introduction Companies by the virtue that they are considered to have influence in the economy of the region they are situated and beyond, also have the moral responsibility to give back to the same community that is hosting them after having fulfilled their needs. This is because they have more financial influence than the individuals combined in the place they are situated. This voluntary development that a company undertakes to the favor of the community hosting them and beyond to improve the social status, after having met their own, is known as the corporate social responsibility. This paper tries to look into the PepsiCo corporate social responsibility. PepsiCo as a company majorly dealing with refreshments has been of great assistance to the communities that are situated in the regions where it is situated and the branches worldwide (Dorfman et al. 45). Before the company gets situated in a place and starts offering corporate social responsibilities to the external community, it has to fulfill its internal needs first that make it stable. The following are the stages of corporate social responsibilities that the company fulfills in the whole cycle of the CSR. Economic Responsibilities Firstly, the company has to make sure that it has the right amount of finance in internally operating its activities without dependence on other external sources....

Words: 680 - Pages: 3

The Boundaries of Social Corporate Responsibility

...The Boundaries of Strategic Corporate Social Responsibility Geoffrey P. Lantos Professor of Business Administration Box D-55 Stonehill College North Easton, MA 02357 June 2001 Phone: 508.565.1205 Fax: 508.565.1444 E-mail: glantos@stonehill.edu 1 The Boundaries of Strategic Corporate Social Responsibility Keywords Corporate social responsibility (CSR), Roles of business, Stakeholder theory, Ethical CSR, Responsibilities and duties, Altruistic CSR, Strategic CSR, Abstract Reviews the development of the corporate social responsibility (CSR) concept and its four components: economic, legal, ethical, and altruistic duties. Discusses different perspectives on the proper role of business in society, from profit making to community service provider. Suggests that much of the confusion and controversy over CSR stem from a failure to distinguish its ethical, altruistic, and strategic forms of CSR. On the basis of a thorough examination of the arguments for and against altruistic CSR, concurs with Milton Friedman that altruistic CSR is not a legitimate role of business. Proposes that ethical CSR, grounded in the concept of ethical duties and responsibilities, is mandatory. Concludes that strategic CSR is good for business and society. Advises that marketing take a lead role in strategic CSR activities. Notes difficulties in CSR practice and offers suggestions for marketers in planning for strategic CSR and academic researchers in further clarifying the boundaries......

Words: 20025 - Pages: 81

Corporate Social Responsibility

...CORPORATE SOCIAL RESPONSIBILITY SUSTAINABILITY- A CRITIQUE Outline What is CSR? What do w e mean by sustainability? Critique OCEANIC Bank’s Story What is CSR Corporate Social Responsibility and Sustainability can be defined as a company's verifiable commitment to operating in an economically, socially and environmentally sustainable manner that is transparent and increasingly satisfying to its stakeholders. Stakeholders include investors, customers, employees, business partners, local communities, the environment and society. The emphasis is on transparent and verifiable stakeholder driven business operation delivering optimised sustainability performance and associated competitive advantage. Sustainable business operation means addressing the needs of present stakeholders while seeking to protect, support and enhance the human and natural resources that will be needed by future stakeholders. CSR describes the principle that companies can and should make a positive contribution to society. CSR is the practice of managing the social, environmental and economic impacts of the company, being responsive to 'stakeholders' (those who are affected by a business operation) and behaving according to a set of values which are not codified in law. In practice the term can refer to a wide range of actions that companies may take, from donating to charity to reducing carbon emissions. By CSR here we refer to the practice of major companies, rather than 'ethical pioneers':......

Words: 2032 - Pages: 9

Chap 800 | Hell Below - Krieg unter Wasser | slicer1967