corporate social responsibility

Examples of corporate social responsibility in the following topics:

• 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.
  • Companies can demonstrate social responsibility in a myriad of ways.
  • 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.

• 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.
  • Today, corporate philanthropy can involve donating funds, goods, or services to another organization or cause.
  • Since the early 2000's, corporations have sought to hold charities accountable for how they use donations.
  • 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.

• 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.
  • 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.
  • For example, socially responsible practices can improve employee recruitment and retention efforts, be a means of managing risk, and provide brand differentiation.

• 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.
  • Part of the critics' argument is that managers should not select social causes on behalf of a diverse set of owners.
  • 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.

• Modern Trends in Social Responsibility

  • Socially responsible trends include corporate citizenship policies, social investing, sustainable accounting & social entrepreneurship.
  • Corporate social responsibility (abbreviated CSR; also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business) is a form of self-regulation integrated into a business model.
  • A socially responsible business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms.
  • Socially responsible investing is the practice of investing funds only in companies deemed to be socially responsible according to a given set of criteria.
  • Explain how the advent of socially responsible investing, sustainability accounting, and social entrepreneurship has contributed to the modernization of social responsibility

• Early Efforts in Social Responsibility

  • Social responsibility is the idea that an entity needs to act in a way that balances its own gain with societal benefits.
  • The notion of social responsibility is far from new.
  • He argued that corporations' attempts at social responsibility were "morally wrong," as social issues and concerns were best dealt with by government.
  • Social responsibility has taken on heightened importance as a way of building trust in relationships .
  • Oil spills and other environmental disasters show the need for social responsibility.

• Corporate Social Responsibility

  • Corporate ethics is the ethics of corporate social responsibility (CSR), not corporate personal responsibility.
  • The responsibility of a corporation is shaped by two realities: the obligations created by society through (1) law and public policy (legal responsibilities), and (2) the obligations created by corporate culture, i.e. stakeholder (customers, employees, neighborhoods, natural environments) obligations.
  • Corporate ethics is therefore really about the creation of a culture of responsibility within the corporation.
  • Corporations have no conscience per se, but like any social system can develop a guiding culture, maintained through education and reinforced by the habits and interactions of the people within the corporation.
  • The Social Contract between society and the multinational corporation today is being radically renegotiated.

• Social Responsibility and Welfare of Customers

  • Adopting socially responsible practices that benefit customers and society is fast becoming a competitive advantage in global business.
  • Critics argue that corporate social responsibility (CSR) distracts from the fundamental economic role of businesses.
  • Others argue that social responsibility efforts are an attempt to impose self-regulations and preempt the role of governments as a watchdog over powerful corporations.
  • Critics of social responsibility often accuse corporate brands of "greenwashing. "
  • Apply the premise of social responsibility and customer welfare from a company's marketing perspective

• 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.