...Corporate social responsibility (CSR) refers to a company’s policy of protecting consumers, employees, community and the environment in addition to its own bottom line. Many consumers are aware of the potential for long-range harm from unethical business practices and will refuse to purchase the products or services of companies that employ such practices. For this reason, many companies have emphasized the importance of corporate social responsibility. Apart from its own benefits, it is also a good public relations move. Stakeholders Through CSR stakeholders have increased influence on company business activities as community citizenship and social responsibility have been consistently integrated into business management. Customers, employees, communities and business partners are among key stakeholder groups that carry weight in company decisions and activities. The objective of being of socially responsible business is achieved when its activities meet or exceed the expectation of all its stakeholders. The quality of relationships that a company has with its employees and other key stakeholders is crucial to its success. Customers have true influence over many companies. This is mainly because companies have generally recognized that satisfied customers and long-term relationships are vital to building sustainable success and profiting over time. Some organizations even use customer relationship management, as a target for efficient marketing and sales efforts. Businesses...
Words: 858 - Pages: 4
...Introduction: Social Responsibility of Business or Corporate Social Responsibility (CSR) refers to management decisions & actions taken for reasons at least partially beyond the organizations’ direct economic or technical interest. The Concept of Corporate Social Responsibility is merely in growing stage towards social effectiveness of business. It is the philosophy which justifies business involvement in its social community. The simple fact is that business is a major social institution, and as such it is importantly involved in social value. In the operation of pluralism many groups influence business and in turn business influences them. Definition of Corporate Social Responsibility given by Scholars: According to Davis Keith, (“Can Business afford to Ignore Social Responsibilities?”- 1960) Social Responsibility is defined as, “Management decisions and action taken for reasons partially beyond the organization’s direct economic or technical interest.” According to Griffin R W, (“Management”- 1997) “Social Responsibility is a set of obligations an organization has to protect and enhance the society in which it functions.” According to Davis K & Blomstrom R L, Business and Society: Environment and Responsibility”- 1975) [i] Social Responsibility is defined as, “The Relationship of Business with the Social System outside its own formal organization.” [ii] Social Responsibility is that, (Business) Decision Makers are obliged to take Actions which protect and improve the...
Words: 1182 - Pages: 5
...Questions | Marks Allocated | Obtained Marks | Introduction | 5 | | 1.1 Since its return to business in India, Cola has taken many CSR initiatives in India. Identify the initiatives according to the main six social initiatives identified by Philip Kotler. | 20 | | 2.1 Discuss the negative drawback of Soft Drink Industry like Coca Cola and Pepsi Companies in the developing world like India in terms of their effects on the environment, people and economy. | 30 | | 3.1 Discuss the roles of community people and local NGOs in controlling developing ecological sensitive projects. Mention the some actions taken from the case study. | 20 | | 4.1 In your opinion, do you think there is a moral responsibility for the governmental authority who firstly issued approval to start Coca Cola business in India? Prove your opinion with finding from the case study. | 15 | | 4.2 Do you think a conditioned renewal of license is a good decision? Support your opinion with evidence/examples of conditions. | 15 | | Conclusion | 5 | | Referencing | 10 | | Report Format | 5 | | Total | 125 | | CSR 611 Corporate Social Responsibilities FINAL ASSESSMENT I certify that this assignment is my own work, based on my personal study and/or research, and that I have acknowledged all material and sources used in the preparation of this assignment whether they be books, articles, reports, lecture notes, any other kind of document, electronic or personal communication I also certify...
Words: 2966 - Pages: 12
...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...
Words: 5311 - Pages: 22
...Pearce II and Robinson Jr.(2013),corporate social responsibility(CSR) has become a vital part of business conversation and for most companies,the challenge is how best to achieve the maximum social benefit from a given amount of resources available for social projects. Pearce II and Robinson Jr.(2013) listed these five principles of successfull collaborative social initiatives(CSI) that facilitate better outcimes for society and for corporate participants. Identify a Stubborn Challenge and Address It for the Long Term Pearce II and Robinson Jr.(2013) added that among the more obvious examples of social challenges that will demand attention for years to come are hunger, inadequate housing, ill health, substandard education and degradation of the environment. Avon Products Inc., the seller of beauty and related products, offers a fine example of a long-term commitment to a pervasive and long-standing problem. A public charity was established in 1955 to improve the lives of women and their families — launched its Breast Cancer Crusade in the United Kingdom. To date, the crusade has awarded more than $350 million to breast cancer research and care organizations worldwide. Contribute “What We Do” Companies maximize the benefits of their corporate contributions when they leverage core capabilities and contribute products and services that are based on expertise used in, or generated by, their normal operations that is the social-purpose initiatives receive the maximum gains...
Words: 532 - Pages: 3
...“Corporate social responsibility (CSR) in controversial industry sectors” The deadline for submission is December 1, 2011. Guest editors: Adam Lindgreen (Cardiff Business School), Martin Hingley (Harper Adams University College), and Jon Reast (Hull Business School) Corporate social responsibility (CSR) has gained unprecedented prominence in academic and business spheres alike (Kotler and Lee, 2005; McWilliams, Siegel, and Wright, 2006); more than ever before, it is necessary for organizations to define their roles in society and apply social, environmental, ethical, and responsible standards to their businesses (Lichtenstein, Drumwright, and Braig, 2004; Lindgreen, Swaen, and Johnston, 2009). Beyond the moral arguments and value-based debates that characterize the complex landscapes of CSR-related concepts and ideas (Garriga and Melé, 2004), corporate commitment to socially responsible management practices is associated with a conviction that the failure to meet basic social rules or expectations pertaining to the way organizations should behave can result in perceptions of those organizations as illegitimate (Campbell, 2007; Sethi, 1975). Increased engagement in CSR-related policies and initiatives, and the associated communicative efforts, therefore provide a way for organizations to circumvent situations and practices that might be perceived as unethical or unsustainable and “alienate the organization from the rest of society, resulting in reduced reputation, increased costs...
Words: 892 - Pages: 4
...that only people can have responsibilities, not business. Friedman stated that "the social responsibility of business is to increase its profits" only, he does not agree social responsibility is part of the responsibilities of Business, he stated that "Only people can have responsibilities" instead of a corporate, a business itself. "The corporate executive is an employee of the owners of the business, which generally will be to make as much money as possible while conforming to the basic rules of the society". In other words, the only reason to Corporate Social Responsibility (CSR) is to maximize the profit of the business. "Only individuals who are to be responsible are businessmen, the owners of the business, has the direct responsibility to his employers and to conduct the business in accordance with their desires". So it comes to an individual can perceive responsibilities but not business itself. Business as a whole cannot be said to have responsibilities. While according to Freeman (2006) does not agree to Milton Friedman's argument that only social responsibility is to increase profit; in the moral sense, giving money doesn't make up at all in doing CSR. Freeman has reassigned a new interpretation of CSR. "A conceptual scheme that separates the social responsibilities of a corporate from its business responsibilities has long outlived its usefulness." To replace Corporate Social Responsibility, Company Stakeholder Responsibility has formed. He also introduces...
Words: 353 - Pages: 2
...“Can Corporate Social responsibility (CSR) give a competitive advantage?" At a time where the UK business industry is more saturated than ever, more and more companies are incorporating social and environmental aspects into their business practices in order to stay competitive. Modern day customers no longer expect the best price and quality, in addition they expect the company to utilise their custom in order to enhance a positive impact on the world around them, because of this, many organisations are prioritising CSR and are ensuring they pursue ethical practices in order to generate a good reputation for being responsible for the procedures they undertake in production and supply. One way in which a company may seek to utilise CSR in order to achieve a competitive advantage is by establishing an affirmative relationship with local authorities. For example, Ben and Jerry’s ice cream company strive for upmost responsibility when it comes to the production of their ice cream products; they only use fair trade produce in production and furthermore they developed a dairy farm sustainability programme in Vermount which is the company’s hometown (James Caan, J.C. (2008). If it were the case that Ben and Jerry’s established a strong relationship with the local authorities due to their exceptional CSR, then it could mean they will be granted more use of local government owned land than competitors, which would lead to an obvious competitive advantage (Ben and Jerry’s website)...
Words: 1058 - Pages: 5
...CHAN Ching To (UID 3035102223) To what extent is Corporate Social Responsibility (CSR) beneficial to a company’s performance? An analysis of the relationship between CSR and financial soundness, quality of marketing, people management and long-term investment value. Introduction Since the late 1990s, corporate social responsibility (CSR) has been increasingly discussed in the society and it slowly becomes one of the important components in the business world (Jenkins, 2005). McWilliams and Siegel (2006) interpret CSR as ‘situations where the firm goes beyond compliance and engages in “actions that appear to further some social good, beyond the interests of the firm and that which is required by law”’. In general, CSR is believed to, in long-term, enhance business performance and boost employee morale. Also, CSR could be a tool to improve company image and to prevent crises (Weber, 2008). This essay argues that CSR has a positive relationship with a company’s performance, meaning that it brings benefits to corporate performance to a large extent. To measure one’s performance, three key aspects are considered, namely financial soundness, quality of marketing and people management. These three aspects are chosen from the criteria for Britain's Most Admired Companies 2014 (Management Today, 2014). Effects of CSR on Financial Soundness One of the most crucial criteria to determine a company’s performance is by analysing its financial soundness. Common indicators...
Words: 1547 - Pages: 7
...rCorporate Social Responsibility (CSR) has recently assumed strategic significance in the industrial world for companies and governments alike. In emerging countries that seek to build vital economies, CSR has taken on an added value. Increasingly, there is the understanding that national development and CSR are characteristically intertwined. Indeed, it has become clear that developing nations will not be able to move forward without the purposeful engagement of corporations in societal affairs and their active contribution to capacity building. The underlying reasoning is that the competitive position and the national standing of a country and the well being of its citizens are inextricably linked to environmental, technological and competency challenges. These mounting challenges can only be managed through corporate initiatives in partnership with government. The United Nations Industrial Development Organization1 has reported that corporations in partnership with governments can make a vital contribution to developing innovative solutions to developmental challenges. Furthermore, in its study, "CSR and Developing Countries," the UN's Division for Sustainable Development2 has argued that governments across the globe have promoted CSR to enhance national competitiveness and to help deliver public-policy goals and priorities. The Arab countries are no exception. Governments in the Arab world have in recent decades espoused certain tenets of CSR. In particular, there has been...
Words: 445 - Pages: 2
...Partnership for POSDAYA; Supporting Family Empowerment Program through Corporate Social Responsibility A case of CSR Partnership Program of PT Adaro Indonesia and POSDAYA in South Kalimantan Dr Laila Refiana Said Indonesian National Council on Social Welfare Universitas Lambung Mangkurat Abstract In recent years, social responsibility of corporations has become a major issue. As a result, the mining companies in Indonesia have come under increasing pressure by NGOs and communities. In response to the pressure, mining companies in Indonesia have carried out corporate social responsibility (CSR) programs, especially when the companies are subsidiaries of global mining companies that utilize CSR as part of their global business strategy. The companies recognize that there is a responsibility to give back to the local communities to ensure the development of a better life in the surrounding mining areas. This paper brings a family empowerment perspective to many of the issues covered in the CSR programs. One of the strategies emphasizes a good relationship with local communities through community development as PT Adaro Indonesia made through its free cataract surgery programs for residents in South Kalimantan together with Badan Koordinasi Kegiatan Kesejahteraan Sosial (Coordinating Agency of Social Welfare Activities). This paper examines the combined effectiveness of PT Adaro Indonesia’s CSR program with the family empowerment program of POSDAYA (Pos Pemberdayaan Keluarga)...
Words: 353 - Pages: 2
...CSR and globalization[1] Corporate social responsibility is at least in its name and formal recognition a relatively recent phenomenon. Yet, owners and managers of firms have engaged in activities that we would now consider CSR almost from the beginning of the industrial revolution (Davis, Whitman and Zald, 2006). But, until the 1990s, CSR was generally limited to corporate philanthropy. It is from the early 1990s that enlarged concepts and practices of CSR have come to the fore. What drove these radical changes in the conception and implementation of CSR? Scherer and Palazzo (2007) claim that, in a globalized world, it is necessary a shift toward a new politically enlarged concept of CSR. In fact, globalization is weakening the power of (national) political authorities to regulate the activities of corporations that globally expand their operations: for instance, globalization forces national governments into a race to the bottom in order to win the competition with other countries for attracting corporate investments. Thus, they reason that corporations should be understood as both economic and political actors. Davis, Whitman and Zald (2006) claim that, in addition to weak national boundaries that separate domestic from foreign companies, another crucial difference of the global competitive environment of the 21st century is the weak distinction between activities and transactions occurring inside as opposed to outside a corporate entity: while companies are moving part...
Words: 1199 - Pages: 5
...Corporate Social Responsibility Reflective Essay of “Executive and Management attitudes towards corporate social responsibility in Malaysia Introduction “Social Responsibility is defined as the role that companies play to serve different stakeholders and also the role that the companies play to support the society.”(George Pohle, 2008) Corporate Social Responsibility (CSR) is now longer phenomenon to the worldwide organisations and corporation in developed countries on the world, it is considered as the large organisation’s globalising strategies or their responsibility and dedication into the society. However, this essay will focus on the other side of CSR developing world- Malaysia and also the Malaysian managers and executives toward to corporate social responsibility. Based on the report “Executive and management attitudes towards corporate social responsibility in Malaysia” (Rashid and Ibrahim, 2002), criticism and discussion about the writer’s analysis and point of views on the researching statistic will be the main stream of this essay. Also, this essay shall analyse statistic and judgements that are provided in the report. Corporate Social Responsibility of Malaysia discussion by Rashid and Ibrahim (2002) is a considerable material to be study but there are still a few points in the report should be criticised: literature review and methodology. Aims and Author Conduction To begin, there are three main aims listed in the report: examination the attitudes in Malaysian...
Words: 1545 - Pages: 7
...Cosmopolitanism, Neo-liberalism, and Global Corporate Social Responsibility Introduction With the rise of globalization come several opportunities as well as threats. On one hand there is the opportunity to overcome problems such as world hunger, poverty, and abuse of human rights. However, on the other hand, globalization could pose as a threat against cultural diversity, as well as allow large corporations and rich governments to exploit human and natural resources in less developed countries. There has been much discussion and debate over how to approach globalization in a way that maximizes opportunities and minimizes threats, but of course it is not always clear which approach will do this. Two approaches in particular, which have been come to known as cosmopolitanism and neoliberalism, have developed and made lasting impacts on ideologies as well as policies. There are avid supporters as well as opponents of both, but in this paper, rather than compare the pros and cons of the two and argue for which one is superior, I would like to discuss if these approaches oppose each other or if in fact they compliment each other as an approach to globalization. As well, I will discuss the issue of social responsibility of multinational corporations in a globalized environment. Cosmopolitanism In order to evaluate the relationship of cosmopolitanism and neoliberalism as approaches to globalization, it is important to first have a clear understanding of the basic tenants and...
Words: 1968 - Pages: 8
...change (Denney-Finch, 2011) • Great correction: prosperity built on credit • Demographic timebomb: avrg no of children per woman –1.5 • New superpowers: Brazil, China, India. • Battle for resources: energy, water, food consumption • Volatile climate: floods, heat waves, forest fires • Digital revolution: Internet, mobile phones Challenges for food firms (Denney-Finch, 2011) • Return to sales growth in Europe • Win a big share of emerging markets • Manage input costs • Make supply chains more sustainable & resilient to shocks • Build a stronger relationship with society Key challenge Building a strong relationship with society (& key stakeholders) • Getting closer to consumers / shoppers • Scepticism about large companies - CSR practices dunnhumby initiative Structure 2005: Joint venture between KBS and dunnhumby Mission To help small food and drink producers improve their businesses by developing a better understanding of consumer preferences Delivery Model PhD studentships, funded by government and industry Capacity building to facilitate business planning and marketing decision-making that is driven by consumer insight Shoppers focusing more on value for money Store choice Product choice 1. Price 2. Fat content Improvements 1. Price 2. Local foods 3. Promotions 4. Discounters 1.Price 2.Layout 3. Brand 3.Accessible 4.Parking 4. Ingredients Source: Shopper Trends 2010 – Shopping in a Recession Increased...
Words: 1626 - Pages: 7
