corporate social responsibility (CSR)

Examples of corporate social responsibility (CSR) in the following topics:

• Corporate Social Responsibility and sustainable development in the global environment

  • The topics surrounding Corporate Social Responsibility (CSR) have become more complex due to the globalization of the economy and the issues that arise from companies competing in international markets.
  • This heightened awareness of CSR and sustainable development has been endorsed by an increased responsiveness to ethical, social, environmental and other global issues.
  • Cases like this, and others such as Enron Corporation and Worldcom in the United States, prompt concerns about corporate governance and accounting standards globally.
  • As a result, companies are responding to increased public expectations of responsibility and incorporating the concept of CSR into their operating plans and strategy.
  • Corporate Social Responsibility (CSR) is a concept whereby companies integrate ethical, social, environmental, and other global issues into their business operations and in their interaction with their stakeholders (employees, customers, shareholders, investors, local communities, government), all on a voluntary basis.

• Arguments for and against Corporate Social Responsibility

  • Most arguments both for and against CSR are based on how a company's attempts to be socially responsible affect its bottom line.
  • Corporate social responsibility, also referred to as CSR, can be described as embracing responsibility for a company's actions and encouraging a positive impact through its activities on the environment, consumers, employees, communities, and other stakeholders.
  • Proponents of CSR argue that socially responsible practices can have a positive impact on the organization by improving employee recruitment and retention, managing environmental risks by reducing harmful accidents, and differentiating brand to achieve greater consumer loyalty.
  • CSR proponents may also argue for the recognition of a "triple bottom line" performance that includes not only financial returns for owners but also social and environmental benefits for the greater society.
  • Rather, CSR opponents believe that corporations benefit society best by distributing profits to owners, who can then make charitable donations or take other socially responsible actions as they see fit.

• Types of Social Responsibility: Philanthropy

  • A company that practices corporate social responsibility (CSR) embraces responsibility for its actions and, through its activities, positively affects the environment, society, consumers, employees, communities, and other stakeholders.
  • One type of CSR is philanthropic giving.
  • Today, corporate philanthropy can involve donating funds, goods, or services to another organization or cause.
  • In this way, these beneficiaries of philanthropy demonstrate both a responsible use of the funds they have received and evidence of their performance relative to their mission.
  • Companies engaging in philanthropic CSR can then use those results to measure the impact of their own efforts to support social causes.

• A Brief Definition of Corporate Social Responsibility

  • Social responsibility in business is also known as corporate social responsibility (CSR), corporate responsibility, corporate citizenship, responsible business, sustainable responsible business, or corporate social performance.
  • The Conference Board of Canada, a not-for-profit organization that specializes in economic trends, organizational performance, and public policy, wrote a National Corporate Social Responsibility Report.
  • CSR can be practiced passively, through refraining from committing socially harmful acts, or actively, through performing activities that directly advance social goals.
  • Social responsibility can be a normative principle and a soft law principle engaged in promoting universal ethical standards in relationship to private and public corporations.
  • Social responsibility in business is also known as corporate social responsibility, corporate responsibility, corporate citizenship, responsible business, sustainable responsible business, or corporate social performance.

• Introduction to Corporate Social Responsibility

  • Corporate social responsibility is a company's sense of obligation towards social and physical environments in which it operates.
  • Corporate Social Responsibility (CSR), also referred to as corporate citizenship or socially responsible business, is a form of corporate self-regulation integrated into a business model.
  • The interest in CSR has grown with the spread of socially responsible investing, the attention of nongovernmental organizations (NGOs), and ethics training within organizations.
  • Recent incidents of ethics-based corporate scandals have also increased awareness of CSR.
  • Corporate social responsibility may include philanthropic efforts such as charitable donations or programs that encourage employee volunteerism by providing paid time off for such activities.

• Corporate Social Responsibility and sustainable development defined

  • Corporate social responsibility involves the conduct of a business so that it is economically profitable, law abiding, ethical and socially supportive.
  • Carroll's CSR model contains four categories of corporate responsibility organized from most to least important.
  • There are a number of projects and initiatives that are shaping the goals and principles of corporate social responsibility and sustainable development, such as:
  • How important is Corporate Social Responsibility (CSR) as a core value for the top companies in the world?
  • Carroll's CSR Pyramid: A three-dimensional conceptual model of corporate social performance.

• Types of Social Responsibility: Ecocentric Management

  • According to the ecocentric model of CSR, environmental protection and sustainability are more important than economic or social benefits.
  • Corporate social responsibility, also referred to as CSR, can be described as a business's efforts to assume responsibility for its actions and to encourage a positive impact through its activities on the environment, consumers, employees, communities, and other stakeholders.
  • The ecocentric model differs from more human-centered interpretations of sustainability or responsibility.
  • It values environmental good above economic or even social benefits.
  • Explain the concept of ecocentric corporate social responsibility and how it relates to other forms of CSR

• The Social Environment

  • Heightened awareness of CSR and sustainable development has been endorsed by an increased responsiveness to ethical, social, environmental and other global issues.
  • Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into a business model .
  • The goal of CSR is to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, and all other members of the public sphere who may be considered stakeholders.
  • This heightened awareness of CSR and sustainable development has been endorsed by an increased responsiveness to ethical, social, environmental, and other global issues.
  • Risk management: Managing risk is a central part of many corporate strategies.

• The Financial Value of Social Responsibility

  • Evidence links socially responsible business practices to improved financial performance.
  • Harvard professors Michael Porter and Mark Kramer introduced the notion of "creating shared value" (CSV) as a way of thinking about the benefits of corporate social responsibility.
  • In this way, the shared value model takes a long-term perspective on the financial benefits of corporate social responsibility.
  • Proponents of these funds point to competitive returns for socially responsible indices, such as the Domini 400 (now the MSCI KLD 400).
  • Discuss the argument that the short-term costs of social responsibility generate long-term revenues exceeding those costs

• Social Responsibility Audits

  • Social responsibility audits are a process of evaluating a corporation's social responsibility performance.
  • Social responsibility audits are a process of reviewing and evaluating a corporation's social responsibility (CSR) performance.
  • As with financial audits, social responsibility audits involve accounting processes.
  • In most countries, existing legislation regulates only a fraction of accounting for socially relevant corporate activity.
  • Having third-party groups conduct social audits is one way that corporations are held accountable for their CSR performance.