...CSR also known as Corporate Social Responsibility, is aims to ensure that companies conduct their business in such a way that is ethical. This means that a company should take into account their social, economic and environmental impact as well as consider the human rights also. The organizations that introduces CSR behaves more ethically and contribute to economic development. Many organizations do a lot to contribute to the society and environment. Companies express their citizenship through different practices like waste and pollution reduction, by contributing in social and educational programs (Horrigan, 2010). If an organization implements the CSR concept in a proper manner, it will benefit them in many ways: It can bring them a competitive advantage, like increase in their capital and market, increase in their profit and sales, saves operational costs, improvement in quality as well as productivity, efficient base of human resource, improve their brand image and also their reputation, increased customer loyalty, etc. Sustainability is necessary for an organization's success. It is a question of debate from past many years that should Corporate Social Responsibility be mandatory. This is a vision to become ethical and value driven society, it is easy to say, but difficult to implement. If CSR becomes mandatory it will be very beneficial for them as: CSR means contributing to the society either through company's products, services or operations or by any of its deeds and...
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...In order for business organizations to survive both profit and CSR are significant strategic factors. Corporate social responsibility efforts have the ability to substantially impact both the external and internal aspects of an organization. CSR efforts can be closely tied to the concept of utilitarianism. In utilitarianism actions are performed with the intent of receiving a specific end result. This end result could be profit, social change and even a mixture of both. While many organizations find themselves seeking to solely maximize profits, others seek to have a significant impact on both the community and society as a whole. While some believe corporations are the sole beneficiaries of such practices, others believe that regardless of intent stakeholders benefit. I believe an organization must implement both profit driving and corporate social responsibility efforts in an effort to successfully maintain their business processes. Views on the benefits of corporate social responsibility differ dramatically across a variety of spectrums. Milton Friedman believes that CSR is in a sense a hypocritical concept due to its end result of greater profit for the corporation as a whole. I personally find this difficult to prove due to the benefits of CSR being challenging and nearly impossible to track within an organization. The business model of grocery store Whole Foods is a good representation of the benefits of incorporating both profit and CSR initiatives as it relates...
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...CSR and the link to HRM Human Resource Management is the process of hiring and developing employees so that they become more valuable to the organization. (3) HRM includes planning, recruiting, retaining, training, developing, salaries, benefits, hiring, firing and evaluating performances. Corporate Social Responsibility plays a big role with HRM. CSR refers to business practices involving initiatives that benefit society. (4) There is a linkage between the two. Companies with more developed HRM, have more developed CSR policies. The goal of HRM in relation to CSR is to understand the foundation that is required to be in place to promote growth of a high performance CSR organization and design a framework for the organization that aims to become a high performing CSR organization. (1) It benefits the company and society as a whole. When you are selecting employees and trying to recruit a certain employee, you want to have CSR and HRM policies stated in stone so you can find the perfect employee to match your criteria. For example, if your company believes that using paper over plastic is better for the environment, you’re going to want to hire an employee who is interested in helping the environment as well. Positive results come from employees who are interested and happy with the company they work for. You want to choose employees that share the same values and interests as you (the company) do. You work better together if you agree with the same policies. Employees who...
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...responsibility (CSR) of Host Europe. Host Europe, like other organizations, recognizes the importance of corporate sustainability. They realize that they must address the issues of digital divide and green IT and they have made some advances in addressing this; however, they need to continue advancing their program and create a plan for greater improvements and expand their CSR program as well. It is important for Host Europe to advance their level of sustainability; however, it also presents a challenge for them as the CSR models, methodologies and priorities must be specific to their industry. The purpose of this paper is to provide insight to the resources that will assist Host Europe in creating and implementing a more comprehensive CSR program. This paper addresses the meaning of CSR and the obligation that Host Europe has to their employees, stakeholders, customers, environment and community in the way that they conduct business. An overview of a complete CSR engagement will be addressed, identifying opportunities for Host Europe to continue to advance their program. It will examine the opportunities that they have to be proactive and provide programs to address their economic, legal, ethical and social responsibilities. Host Europe has realized the necessity of addressing their needs by dedicating resources to the development of a broaden program, now they will explore how they can be proactive and not reactive in this pursuit (Hahn, 2010). A Complete CSR Engagement ...
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...Strandberg Consulting MAY 2009 CSR and HR Management Issue Brief and Roadmap 2 ISSUE BRIEF AND ROADMAP OBJECTIVE • To understand the foundational elements that need to be in place to foster a high performance CSR (corporate social responsibility) organization and develop a framework or roadmap for firms wishing to become a high performing CSR organization. AT A GLANCE • Human resource professionals have a key role to play to help a company achieve its CSR objectives. Employee involvement is a critical success factor for CSR performance. Human resource managers have the tools and the opportunity to leverage employee commitment to, and engagement in, the firm’s CSR strategy. • High performing CSR organizations foster a culture of CSR and fully integrate CSR throughout their operations, rewarding and incentivizing CSR decisions and initiatives. • Employees prefer to work for organizations aligned with their values; thus, incorporating CSR into the employee brand can enhance recruitment and retention, particularly in tight labour markets. • CSR can be applied to the HR toolkit, resulting in a roadmap or pathway for human resource practitioners to follow who wish to contribute to the achievement of their organization’s sustainability and business aspirations, thereby improving social and environmental conditions locally and globally. CSR and HR Management Issue Brief and Roadmap 3 CSR and HR Management Issue Brief and Roadmap 4 CSR and HR Management Issue Brief...
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...CORPORATE SOCIAL RESPONSIBILITY INITIATIVES C.B. Bhattacharya Daniel Korschun Sankar Sen Forthcoming: Journal of Business Ethics Abstract Corporate social responsibility (CSR) continues to gain attention atop the corporate agenda and is by now an important component of the dialogue between companies and their stakeholders. Nevertheless, there is still little guidance as to how companies can implement CSR activity in order to maximize returns to CSR investment. Theorists have identified many company favoring outcomes of CSR, yet there is a dearth of research on the psychological mechanisms that drive stakeholder responses to CSR activity. Borrowing from the literatures on means-end chains and relationship marketing, we propose a conceptual model that explains how CSR provides individual stakeholders with numerous benefits (functional, psychosocial, and values) and how the type and extent to which a stakeholder derives these benefits from CSR initiatives influences the quality of the relationship between the stakeholder and the company. The paper discusses the implications of these insights and highlights a number of areas for future research. 1 STRENGTHENING STAKEHOLDER-COMPANY RELATIONSHIPS THROUGH MUTUALLY BENEFICIAL CORPORATE SOCIAL RESPONSIBILITY INITIATIVES Corporate social responsibility (CSR), or “a commitment to improve community wellbeing through discretionary business practices and contributions of corporate resources,” (Kotler and Lee 2004, p.3) is by now an...
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...ROLE OF HUMAN RESOURCE (HR) FOR CORPORATE SOCIAL RESPONSIBILITY (CSR). Ms. Suhas Diwate Suhas_diwate7@rediffmail.com Name of Author/Co-Author: Suhas B. Diwate Institutional Affiliations: Asst. Professor (HRM- Department of Management Studies), Bapurao Deshmukh College of Engineering, Sewagram Correspondence Address: Suhas B. Diwate C/o B.M. Diwate, Gajanan Nagar. Near Z.P. Colony. Wardha-442001 ( Maharashtra) Contact Details: • E-mail ID- suhas_diwate7@rediffmail.com • Mob: +91 8087293033 • Fax No: NA Title of paper: “ Role of HR for CSR” ABSTRACT: Concept of CSR A Business Unit is in society, within which it operates. This speaks of a number of stakeholders to which the organization has a responsibility. The social responsibility of business encompasses the economic, legal, ethical and discretionary expectations of that society have of organizations at a given point in time. The Concept of CSR originated in the 1950s in USA. CSR became a matter of utmost importance of diverse groups demanding change in business. It is a voluntary assumption of responsibilities that go beyond the economic and legal responsibilities of corporations. Corporate Social Responsibility (CSR) covers all aspects of an organization’s operation, inter-alia the relations with stakeholders including the employees as one of them. Business cannot exist in isolation. They need the infrastructure...
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...CORPORATE SOCIAL RESPONSIBILITY (CSR) – THE NEED OF THE HOUR What is CSR? “No success or achievement in material terms is worthwhile unless it serves the needs or interests of the country and its people “ - Late Shri. J.R.D. Tata As evident from the above definition, the basic objective underlying CSR is maximization of societal benefits from business. The concept of CSR has been evolving since the early seventies, and yet there does not seem to be a uniform definition. It is perhaps not surprising that the CSR that exists now has many different definitions. In the Indian context, CSR would extend to issues as complex as regional development, rural development, employment, education and healthcare services, while CSR in the context of developing countries (and to some extent developed countries as well) broadly relates to issues of governance, business ethics, human rights and environment. CSR activities have their own advantages. The benefits are in terms of building a positive image, encouraging social involvement of employees, which in turn develops a sense of loyalty for the organization. A survey recently conducted by a reputed NGO revealed that the factors most influencing public impression of companies were social responsibility; brand reputation and sound business fundamentals. This goes to show the importance of CSR in an organizational context. Factually speaking, CSR activities in most organizations are much more than a brand-building...
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...Chapter 1: What is CSR Organizations can be classified in 3 categories: 1) For profits: Seek gain for their owners 2) Government: Exists to define rules and structures of society within which all organizations must operate 3) Non-profits: Emerge to do social good when the political will of the profit motive is insufficient to address societies needs Stakeholders: Includes all those who are related in some way to a firm “A stakeholder in an organization is any group or individual who can affect or is affected by the achievement of the organizations objectives” could range from clearly defined customers, employees, suppliers, creditors, and regulating authorities, to other more amorphous constituents such as local communities CSR is both critical and controversial; It is critical because the for-profit sector is the largest and most innovative part of any free societies economy. However CSR remains controversial; In spite of the rising importance of CSR today for corporate leaders, academics, and bureaucrats alike, many still draw on the views of the Nobel Prize- winning economist Milton Friedman, who argues against CSR because it distracted leaders from economic goals. Friedman believed that the only “social responsibility of a business is to increase its profits”- that society benefits most when businesses focus on maximizing their financial success. David Packard, a co-founder of Hewlett-Packard however, believes “a group of people get together and exist as...
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...CSR and EDUCATION 1A Kalyani, Assistant Professor, NBN SSOCS, Pune Dist, koukuntla.kalyani@gmail.com 2Dr. K E Balachandrudu Professor & HOD-CSE, PRRMEC, SHABAD – R R Dist. Kebalu.chinni@gmail.com Abstract Universities, especially private ones are in need of strong corporate strategies in order to be successful in the highly competitive education industry. In this respect, Corporate Social Responsibility (CSR) becomes one of the highly preferred strategies by higher education institutions for gaining a good reputation and a competitive advantage. The major finding of the study is that in order for an institution to be successful in CSR strategy, CSR actions has to be internalized and must be supported by the management. In India companies like TATA and Birla are practicing the Corporate Social Responsibility (CSR) for decades , long before CSR become a popular basis. In spite of having such good glorious examples; In India CSR is in a very much budding stage. A lack of understanding, inadequately trained personnel, coverage, policy etc. further adds to the reach and effectiveness of CSR programs. Large no. of companies are undertaking these activities superficially and promoting/ highlighting the activities in Media. Keywords: Corporate social responsibility, higher education, competitive advantage, Societal Marketing, reputation. Introduction In a societal structure, we have many stakeholders, one amongst them are companies or Corporate Houses. These Corporate...
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...Corporate Social Responsibility and Nonprofit Organizations Darin Leedy December 2009 Senior thesis submitted in partial fulfillment of the requirements for a Bachelor of Arts degree in Economics at the University of Puget Sound Introduction Corporate social responsibility has taken on an increasingly prominent role in the business world in recent years. CSR has grown so popular that nearly every major company in the U.S. now integrates a significant commitment to social and/or environmental programs into its business model. CSR can be loosely defined as the adoption of socially beneficial and environmentally sustainable practices by corporate actors. The rise of CSR can be attributed to growing public disenchantment with traditional business practices that degrade the environment and compromise worker wellbeing, and resulting pressure from consumers and nonprofits on the private sector to reform itself. Instead of simply complying with government regulation, a company that is “socially responsible” adopts more stringent self-regulation ensuring that it is acting to minimize negative impact on the environment, its employees, its customers, and the community. The attitude that the corporate world should be responsible for adverse production effects has expanded into a broader conception of its responsibilities. It is now common to expect corporations not only to be accountable for their actions, but to contribute to solving the world’s problems...
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...Introduction Corporate social responsibility has taken on an increasingly prominent role in the business world in recent years. CSR has grown so popular that nearly every major company in the U.S. now integrates a significant commitment to social and/or environmental programs into its business model. CSR can be loosely defined as the adoption of socially beneficial and environmentally sustainable practices by corporate actors. The rise of CSR can be attributed to growing public disenchantment with traditional business practices that degrade the environment and compromise worker wellbeing, and resulting pressure from consumers and nonprofits on the private sector to reform itself. Instead of simply complying with government regulation, a company that is “socially responsible” adopts more stringent self-regulation ensuring that it is acting to minimize negative impact on the environment, its employees, its customers, and the community. The attitude that the corporate world should be responsible for adverse production effects has expanded into a broader conception of its responsibilities. It is now common to expect corporations not only to be accountable for their actions, but to contribute to solving the world’s problems. That is, corporations are now pressured to contribute to the creation of public goods like a healthy environment and poverty reduction as well as to absorb their own production externalities. Combined with the growing demand for “green” products, the private...
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...Course: Tutor: Date: Commercial Benefits of Corporate Social Responsibility Chapter 1: introduction Following the increase in the discoveries of corporate scandals in emerging and developed countries, there has been a rapid growth of concern in ethical and socially responsible business behaviour over the past two decades. The World Business Council for Sustainable Development has taken many initiatives to advance public’s concern about energy, climate, environment, sustainability, and corporate responsibility (Marrewijk, 2003). It defines CSR as “the commitment of business to contribute to sustainable economic development, working with employees, their families and the local communities”. As highlighted by Jamaliand Mirshak (2007), the fundamental idea of CSR is that business organizations would have an obligation to fulfil the needs of various organizational stakeholders (Waddock, Bodwell, & Graves, 2002) Corporate social responsibility (CSR) practices or initiatives have been performed by many corporations, particularly as a large number of researchers have demonstrated the benefits of being socially responsible (Berens, van Riel, & van Bruggen, 2005; Luo & Bhattacharya, 2006; Nan & Heo, 2007; Vaaland, Heide, & Gronhaug, 2008). In general, previous studies in Western developed societies have shown a positive relationship between CSR associations and corporate product evaluation. In order to really understand CSR we must root it in a broad understanding...
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...Coca-Cola Company. It has identified pertinent issues that affect CSR policies and how an organization has to act responsibly. Coca-Cola Company has been a market leader in the soft drinks industry. However, in the recent past they have received negative publicity and unhealthy competition from worthy competitors like Pepsi. This report, therefore, finds out the discrepancies existing between Coca-Cola’s business strategy and their common practice. It, therefore, discusses the CSR projects implemented by the Coca-Cola Company and gives recommendations on how Coca-Cola will continue to operate a sustainable business. Table of Contents 1.0 Executive Summary…………………………………………………………………………..2 2.0 Scope of Engagement………………………………………………………………………...4 3.0 Current Understanding of CSR………………………………………………………………4 4.0 Examining Coca-Cola’s CSR Commitment………………………………………………….5 5.0 Discrepancies between Communicated Intention and Corporate Practice…………………...7 6.0 Recommendations…………………………………………………………………………….7 References………………………………………………………………………………………...9 Communication in Business 2.0 Scope of Engagement Business social responsibility is a core success factor for any organization. While acting to fulfill its mandate, an organization must not infringe on the interest of the community or of the stakeholders. In so doing, an organization works socially responsible (Cragg, 2009). I have been hired to conduct a CSR audit for the Coca-Cola Company. In the recent past, this company...
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...INTRODUCTION Historical Background Just after the Second World War, when the nation was devastated and Filipinos were in need of medicines, Isosceles Pascual and his wife, Leonora Figueroa-Pascual, founded Pascuallab as a single proprietorship. They operated their business out of Tondo, Manila with products for treatment of tuberculosis and vitamin deficiency then. In 1952, the Pascuals modernized their plant in Tondo and expanded the operations to include anti-infectives and cardiovascular medicines. By the 1960s, Pascuallab entered into strategic partnerships with foreign-based companies and became a corporation. It was during this time that it formalized the marketing and sales activities and strengthened its Product Research and Development Division. In the 1970s, Pascuallab transferred its manufacturing plant from Tondo to a place then known as Km 31, MacArthur Highway in Balagtas, Bulacan in response to the government’s call to locate all factories outside the 30-kilometer radius from Manila. The head office moved to Epifanio de los Santos Avenue (EDSA), Quezon City. Pharex Corporation assumed the distribution of the company’s products. In the 1980s, the company made Metro Drug Crop. as product distributor and officially appointed Pharex health Corp as the marketing arm of Pascual Corp’s generic products. It also formed the Consumer Products Division to market personal hygiene and vitamin products. In the 1990s, it went into intensive marketing for consumer health...
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