...Vladimir Putin said “We need business to understand its social responsibility, that the main task and objective for a business is not to generate extra income and to become rich and transfer the money abroad, but to look and evaluate what a businessman has done for the country, for the people, on whose account he or she has become so rich.” Corporate Social Responsibility is a set of policies and functions whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards and international norms. It is a model in which economic, social, and environmental responsibilities are satisfied simultaneously. Companies these days are issuing corporate social responsibility reports that detail their environment, labor, and corporate giving practices. Also some firms have employed a position of director of corporate social responsibility. Although many firms are endorsing a culture of ethics and social responsibility, some believe that it is being done was a public relations campaign. One of the most common ways to approach CSR is corporate philanthropy. This includes monetary donations and aid given to nonprofit organizations and communities. Donations are made in areas such as the arts, education, housing, health, social welfare and the environment, among others. Owner of Headbands of Hope, Jessica Ekstrom sells made-in-the-U.S. headbands and donates a dollar of each sale to childhood cancer research through the St. Baldrick's Foundation...
Words: 847 - Pages: 4
...The Missing Link; How Corporate Social Responsibility Increases Market Value Bachelor Thesis Marketing Supervisor: Ph.D. Ernst Osinga 2009/2010 ANR Name E-mail Subject : 888692 : Puck van den Biggelaar : P.vdnBiggelaar@uvt.nl : Marketing and firm value Subject Area : Marketing corporate social responsibility and market value Study Program: International Business 1 Abstract Corporate social responsibility is profitable for a company, but only when the following requirements are met. First the CSR strategy has to be properly motivated, thus the goal of the CSR should not be profit generation. Second the level of trust of customers should be high enough so that customers will not respond skeptical to the CSR strategy. Third the company should be innovative and not be exposed to too much risk. If these requirements are met it is necessary to choose a CSR strategy that fits the brand and to use the right communication strategy. Only then will market value rise as a result of the higher level of customer satisfaction CSR creates. 2 Table of content Chapter 1: Research proposal 1.1 The problem background 1.2 The problem statement 1.3 Research questions 1.4 Academic relevance 1.5 Managerial relevance 1.6 Overview of the rest of the chapters Chapter 2: Corporate social responsibility from the consumer perspective 2.1 Introduction 2.2 CSR and customers Chapter 3: Consumer reactions and attitudes towards trust, communication strategy and fit 3.1 Introduction 3.2...
Words: 8717 - Pages: 35
...RMIT University Vietnam Corporate Governance and Regulations (BUSM 4158) *** Individual Social Audit Report on Vedan Vietnam’s Corporate Social Responsibility Prepared by: Nguyen Ngoc Thanh Phuong Student ID: s3480053 Lecturer: Mr. Barry Slutsky Semester 1, 2014 Word count: 1762 Corporate Governance & Regulations -‐ BUSM 4158 Table of Contents Executive summary ..................................................................................................... 3 Vedan Vietnam and Thi Vai river incident .................................................................... 3 1. Vedan Vietnam – Company in brief: ......................................................................................................... 4 2. Thi Vai river incident ....................................................................................................................................... 4 Vedan’s social and environmental impact ................................................................... 4 1. Environmental impact ..............
Words: 2554 - Pages: 11
...To what extent is Corporate Social Responsibility (CSR) beneficial to a company’s performance? CSR—A double-edged sword for company’s performance Starting from the refined corporate social responsibility (CSR) strategies issued by the European Commission in 2011, a stinging debate is being aroused on the influence of CSR to the whole society. The most influential critic is Noble Prize winner Milton Friedman, who regards CSR as a waste of stockholders’ money (1970). However, many other articles claim, opposite Friedman, that CSR actually improves companies’ financial performance in the long run (Bagnoli and Watts, 2003; McWilliams and Siegel, 2001). There are plenty of arguments on CSR’s influence on company’s performance. As far as I am concerned, CSR plays as a double-edged sword in company performance. The definition of CSR is quite easy to understand. According to Business for Social Responsibility (BSR), CSR is defined as “achieving commercial success in ways that honor ethical values and respect people, communities, and the natural environment.” McWilliams and Siegel (2001:117) describe CSR as “actions that appear to further some social good, beyond the interest of the firm and that which is required by law.” These suggest that a socially responsible corporation should take a step forward and adopt strategies and business practices that go beyond the profit requirements and contribute to some social-friendly activities. However, when companies choose to engage in CSR...
Words: 2667 - Pages: 11
...years, encouraged by cultural and economic globalization, the world market is growing rapidly. With the market becoming increasingly mature and rational, corporations not only pay attention to profit and business opportunities, but also the obligation and responsibility to employees, environment and customers. Therefore, corporate social responsibility (CSR) has become more and more popular among enterprises and markets. Thus, it is important to study the way CSR initiative depicts what corporations have to do in order to shoulder the responsibility for their employees, environment as well as consumers and CSR’s influence on various economic behaviors. This report analyses the CSR activities of Sony, Dell and Apple which are three electronic corporations. Specifically, it focuses on the effect on their employees, environment and consumers. The first part will mainly introduce their CSR initiatives and standards respectively. After that comes the second part which evaluate all these CSR activities. The goal of this paper is to discuss the significance of CSR and how firms can involve CSR in their business activities. 1. Introduction With the development of cultural and economic globalization, corporate social responsibility (CSR) has been paid more and more attention and attracted a number...
Words: 2092 - Pages: 9
...Analysis Paper PHL/323- Ethics in Management March 24, 2014 Code of Ethics Analysis Paper In today’s business environment, codes of ethics serve the purposes of guiding the everyday conduct of professionals, and all those (consultants, volunteers, and board members) who operate within a particular business or organization. The everyday conduct of professionals becomes important when servicing consumers, and is known to directly impact the community. Because codes of ethic govern ones conduct, it is imperative for business to consider the effectiveness of such codes that are outlines in their profession. The purpose of this analysis is to analyze the code of ethics established by the Arrow. In conducting such an analysis, I will first determine what is to be considered based on importance, and why such codes are important, and a justification will proceed. After providing a justification on the importance of such ethics, I will then attempt to analyze Arrow’s code of ethics, by considering how the code will be implemented, possible reactions from employees, and the effects the code will have on the organization as a whole. System of Inquiry After much deliberation, the following will include a system of inquiry that will be used to analyze the code of ethics established by the Arrow. Areas of inquiry will include: the organization definition of ethics, people issues, consumer confidence, corporate social responsibility, leadership responsibilities/activities...
Words: 2059 - Pages: 9
...of this paper is to prove that CSR can be used as a positive approach in the area of marketing and promotion, particularly in the cosmetic industry. The paper substantiates this hypothesis by drawing on theory from scholarly articles and literature and analysing data from annual reports. A portion of the research is dedicated to the Body Shop, based on analysis of their annual reports, as well as the reaction of different stakeholder groups based on several literatures. The paper finds that there are positives and negatives in using CSR and promoting it using marketing depending on the consumers’ perceptions. It also finds that there exists an information asymmetry between producers and consumers in terms of CSR for their products. The paper supports previous ideas that CSR is useful in benefitting the company brand and value and that it can also be used to influence a consumer’s purchase decision of the cosmetics. INTRODUCTION In conceptual theory, CSR is how a company incorporates “social, environmental and economic issues into their values and business operations in a transparent and accountable manner” (FAITC, 2012). In simple terms, CSR is the actions that a company undertakes or doesn’t undertake during their business functions to benefit society and their stakeholders. There are many arguments for and against CSR and also differing views on whether it actually “pays” to undertake CSR. Friedman (1970) essentially argues that the only social responsibility that a business...
Words: 3361 - Pages: 14
...Corporate Social Responsibility – Issues and Challenges with reference to Bhopal city. Ms Charu Modi Ms Ankita Rajdev Ms Meenal Pathak Assistant Professor Assistant Professor Assistant Professor JSSGIW – FOM JSSGIW – FOM JSSGIW – FOM 08871312197 09893299224 09989773177 Abstract Corporate Social Responsibility is the term used to define organisation’s commitment to the society and the environment within which it operates. Corporate initiative to assess and take responsibility for the company’s effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups. Stakeholders like employees, community, suppliers and shareholders, today are redefining the role of corporate taking into account the corporate’ broader responsibility towards society and environment, beyond economic performance, and are evaluating whether they are conducting their role in an ethical and socially responsible manner. As a result of this shift many forums, institutions and corporate are endorsing the term Corporate Social Responsibility (CSR). In Bhopal companies like BHEL and Crompton and Greaves etc are practicing the Corporate Social Responsibility (CSR). But still there are many companies that are lacking behind in CSR practices. A lack of understanding, inadequately trained personnel, non availability of authentic data and specific...
Words: 2181 - Pages: 9
...and Organizational Theory Reaction Paper 3 October 12, 2011 Professor Arevalo The Face of Higher Education: Corporate Social Responsibility, Stakeholders and the Managerial Role Abstract The purpose of this paper is to examine three themes that have been discussed in our Management Process and Organizational Theory course: Corporate Social Responsibility, the Stakeholders, and Managerial Roles. Corporate Social Responsibility emphasizes the commitment an organization makes to achieve greatness following the law and making a profit. The discussion of managers and their roles considers how certain kinds of manager’s function as it relates to making a decision. A stakeholder’s involvement in an organization is crucial to that organization and how the organization influences society or their surrounding community. All three of these themes are being analyzed from the aspect of higher education. Many discussions have been held in which the components of organizational theory, management, and organizations have been examined. This paper intends to take the three themes and analyze how they are applied to or affected by higher education, since higher education (undergraduate, graduate, post-graduate levels) as an organization helps prepare individuals for the workplace to potentially become a manager or even stakeholder and practice Corporate Social Responsibility. Corporate Social Responsibility The concept of Corporate Social Responsibility is a relatively new phrase...
Words: 1480 - Pages: 6
...CALL FOR PAPERS Special issue on “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...
Words: 1763 - Pages: 8
...Demetria Brown Social Responsibility Is any corporation doing their part? Abstract In today’s society of accountability and sustainability, corporate reputation and corporate responsibility are intertwined. Corporations in particular now have to deal with rapidly growing pressures and expectations from diverse and demanding stakeholders (the people of the public) pressures that they cannot escape and expectations that they must address. Corporate Social Responsibility has begun to move from the sideline to the mainstream, from its established positions in socially responsible and environmental investment movements, to the center of media attention and on to the public agendas of multinational corporations. Much good can be credited to ethical public relations practice as is relates to corporate social responsibility. (Broom, 2009, p.133) The term "Corporate Social Responsibility" demonstrates the new expectations that are emerging for multinational corporations. Public relations and corporate responsibility worlds would do well to share an interest in aligning corporate reputation with a post-CSR agenda that is increasingly focused on accountability and sustainability -- and increasingly integrated with corporate strategy. Most corporate managements and communications professionals understand the basics of the corporate responsibility agenda and its potential impact, on the reputations of their companies and clients. Not all corporations are comfortable with integrating...
Words: 1939 - Pages: 8
...Corporate Psychological Defences: An Oil Spill Case Author(s): T. Ketola Source: Journal of Business Ethics, Vol. 65, No. 2 (May, 2006), pp. 149-161 Published by: Springer Stable URL: http://www.jstor.org/stable/25123778 . Accessed: 03/12/2013 07:49 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . Springer is collaborating with JSTOR to digitize, preserve and extend access to Journal of Business Ethics. http://www.jstor.org This content downloaded from 130.209.6.50 on Tue, 3 Dec 2013 07:49:34 AM All use subject to JSTOR Terms and Conditions (2006) 65: 149-161 Journal of Business Ethics DOI 10.1007/sl0551-005-4175-4 ? Springer 2006 Corporate Psychological Defences: T. Ketola An Oil Spill Case ABSTPJVCT. protect isational morality defences the Organisational self-esteem even This an oil and moral at the paper refinery psychological integrity expense analyses and of the its parent of defences the organ the of while concessions corporation imply that is taking a ...
Words: 9258 - Pages: 38
...Hutchins American Intercontinental University Abstract This paper is concerning ethical issues faced by an employee who while working for her first corporate job right out of college has started to lose her idealism after being employed for only 4 months. She has assisted company executives here in the U.S. and in many European countries. While she has a primary boss in the U.S. offices, she has had many secondary bosses in Europe. During this short period of time, in both her departments in the U.S.A and in Europe, she has witnessed employees that come to work while under the influence of alcohol and even drinking while at work. She has seen employees on a regular basis arriving late and leaving early for work and also using company computers for personal reasons. Her department manager is so easy going and seems to be more concerned with being everyone’s friend than their boss and if he is aware of these issues, he turns a blind eye. Although she has tried to bring the subject of these issues to him, he seems unwilling to even discuss them with her. She is a hard worker and follows rules and always thought the majority of other employees would also. This paper will take a look at her options and research the differences between business and cultural ethics in the U.S and in Europe. The challenges she will face if she decides to file a complaint formally with a agency of the government and the reaction she’ll most likely receive from her immediate supervisors. Finally...
Words: 2607 - Pages: 11
...Ethics Paper Bonnie L. Perry MGMT/498 Strategic Management Dulcelina Stahl August 27, 2012 The Role of Ethics and Social Responsibility in Developing a Strategic Plan Private corporations have a responsibility to society to do more than merely become a profitable organization. The strategic decisions of organizations are not made for the the benefit of the organization alone. Strategic decisions are also made to impact the community, consumers, and workforce of the corporation in a positive way. The strategic decisions made by a corporation are carefully made to reflect the mission and vision of the organization. Every decision includes the appropriateness of how the organization serves the community by keeping their needs and expectations in mind. The ethical interests of the organization must be well defined and all conflicts of interest or legal occurrences must be dealt with in a completely ethical manner. The stakeholder’s have the expectation of transparency from the organization so that their needs are taken into consideration during the course of developing the strategic plan for the organization. The question of what the ethical social responsibility requirements of an organization are can be answered in different ways depending on the view of the corporation. Milton Friedman and Archie Carroll have very different ideas of corporate responsibilities to society. Friedman believes...
Words: 1198 - Pages: 5
...Briana Alston MGT 3550-03 Values Ethics and Sustainability April 19, 2016 Abstract This paper was created to reflect how the chapters in molecule 2 helps us understand how important big corporations are to their employees, the environment, and also to people in need. In this essay I will give a brief run down on a number terms we familiarized in class, and analysis on cases in chapter 1,3, and 10. In addition, I will present my own managerial implications to clarify how I would run a company if I were ever to become a CSR manager. To commence this abstract I would like to ask, which is more of great import to a business, helping the public or profit? Part I- Terms In Chapter 1 T. Savoie (2016), explained to the class the meaning of the term Stakeholder from his reaction paper. According to the book the term stakeholder refers to the persons and groups that affect, or are affected by, an organization’s decisions, policies. and operations. According to business dictionary.com, some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Another term in chapter 1 we went over was Focal Organization, which was described by Savoie (2016). In the book this is described by the organization from whose perspective the analysis is conducted. Savoie’s example of this was “in retail you would want to know the...
Words: 1720 - Pages: 7
