Corporate Social Responsibility
Agenda:
1. Introduction * What is the CSR (CSR definition)? 2. Why CSR (Importance of CSR)? 3. Approaches of CSR 4. Critics of CSR 5. Real Cases for CSR 6. Ref.

1. Introduction a. What is the CSR (CSR definition)?

CSR is about how companies manage the business processes to produce an overall positive impact on society.

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 (The World Business Council for Sustainable Development http://www.mallenbaker.net/csr/definition.php)

The way in which firms seek to voluntarily align the interests of owners and other stakeholders with the long-term best interests of the society (Thomsen, S.Conyon)

The stakeholders include Stakeholders include customers, employees, suppliers, government, the environment and the wider society 1. Why CSR (Importance of CSR)?
Companies promote CSR for a variety of reasons
It’s good for business
Customer demand
Improves corporate reputation
Increases financial performance

2. Approaches of CSR
The CSR have 3 approaches:
- Win-win: engaging in CSR leads to higher profits
- Delegated philanthropy: stakeholders prefer firms that engage in philanthropic activities on their behalf
- Insider-initiated corporate philanthropy: CSR is motivated by the managers’ desire to allocate money based on their own preferences.

3. Critics of CSR * Firms have no responsibilities beyond making profits 4. Managers are employees, hired to optimize the welfare of their employer – i.e. the owners 5. The idea of CSR implies that managers can take actions that conflict with the