Company Csr

In: Business and Management

Submitted By susaaltec
Words 1134
Pages 5
CORPORATE SOCIAL RESPONSIBILITY

Within the world of business, the main “responsibility” for corporations has historically been to make money and increase shareholder value. In other words, corporate financial responsibility has been first driving force. However, these past few years, there is a movement that gathered momentum and taken hold in defining broader corporate responsibilities– for the environment, for local communities, for working conditions, and for ethical practices. This new driving force is known as corporate social responsibility (CSR). CSR is oftentimes also described as the corporate “triple bottom line”–the totality of the corporation’s financial, social, and environmental performance in conducting its business.

While there is no universal definition of corporate social responsibility, it generally refers to transparent business practices that are based on ethical values, compliance with legal requirements, and respect for people, communities, and the environment. Thus, aside from profit maximization, companies are responsible for the totality of their impact on people and the planet. “People” constitute the company’s stakeholders: its employees, customers, business partners, investors, suppliers and vendors, the government, and the community. Increasingly, stakeholders expect that companies should be more environmentally and socially responsible in conducting their business. In the business community, CSR is alternatively referred to as “corporate citizenship,” which essentially means that a company should be a “good neighbor” within its host community

Today, more and more companies are recognizing that in order to stay productive, competitive, and relevant in a ever changing business world, they have to become socially responsible. In the last decade, globalization has blurred national borders, and technology has boomed, innovated and…...

Similar Documents

Csr Activities of 5 Companies

...community development projects. Infosys employees actively participate in the welfare of the local community. Their Development Centers (DCs) in India make a difference through several Corporate Social Responsibility (CSR) initiatives. They organize and contribute to welfare programs, especially for underprivileged children. They support the activities of institutes and Non-Government Organizations (NGOs) dedicated to healthcare and education, and campaigns for skills development and community welfare. They have won 'Computer World Award - 2001'- International Level 'The Economic Times Corporate Citizenship Award,' on behalf of the Infosys Foundation, for outstanding philanthropic work- National Level Dabur India Ltd  Dabur India Ltd is one of India’s leading FMCG Companies. Dabur is today India’s most trusted name and the world’s largest Ayurvedic and Natural Health Care Company.  At Dabur, commitment to good governance, ethical conduct and social responsibility is core to their way of doing business, and is strongly aligned with their drive to create and increase value for all stakeholders. They define CSR as conducting business in ways that provide social, environmental and economic benefits for the communities and geographies where they operate. Dabur’s CSR initiatives are driven through Sustainable Development Society or SUNDESH, an outcome of the vision of Dabur India Ltd founder Dr. S.K Burman.  Sustainable Development Society (SUNDESH) is the mission of......

Words: 1188 - Pages: 5

Solar Energy Company Report Csr

...Social Responsibility in the Solar Photovoltaic Industry CSR Across Industries CSR Across Industries Table of Contents Executive Summary 3 The Solar Photovoltaic Industry and CSR related issues 3 Introduction 3 CSR Issues 4 Companies 4 The Companies 5 1. British Petroleum – (Philip Leith) 5 2. ENEL – (Santiago Liotta) 7 3. MEMC Electronic Materials, Inc. / SunEdison – (Eleonora Ricciardi) 9 4. Sharp Solar – (Aaron Teo) 11 5. Suntech – (Tutram Nguyen) 13 Companies Comparison and Evaluation 16 Conclusions 17 Bibliography 18 Executive Summary In the last decade, the solar industry has seen exponential growth. Government subsidies, climate change debate and need to identify alternative eco-friendly energy sources have fueled this sector. The idea of harnessing renewable energy from the sun is naturally attractive but is it a perfect solution? Do the companies profiting in this business abide to the same United Nations Global Compact principles urged by environmentalist, conservationists, human rights activists, governments and other stakeholders around the world? This paper will provide our findings on our evaluation of five global players against a handful of corporate social responsibility issues in the solar industry. The Solar Photovoltaic Industry and CSR related issues Introduction As traditional hydrocarbon supplies are increasingly difficult and expensive to extract, energy companies have to change their strategy in order to......

Words: 5606 - Pages: 23

Csr Coursework

...definition, CSR refers to the "voluntary integration of corporate social and environmental concerns in their commercial operations and in their relations with the parties concerned,” according to The Green Book of the European Commission "Promoting a European framework for Corporate Social Responsibility" . With simple words CSR is whenever a businesses make contributions to the community , by which action showing that they are giving back to the people , which contributed for their flourishing . As a beginning let’s make something clear about the true meaning of CSR . It is not all about philanthropy or doing charity services. This being said does not make such activities unimportant. These actions performed by a firm can help establish strong relations with community members and leaders, nevertheless philanthropy and correlated actions are at best superficial manifestations of CSR .Restricting CSR to philanthropy can often cause a negative impact on the organizational climate.For example, employees may be dissatisfied if it becomes apparent that while the organization is generous in terms of charities, it does not express adequate sensitivity to working conditions or employees' safety; the public might become critical if it turns out that the organization does not show responsibility to environmental issues. Why being socially responsible is so important to a company? First of all , findings from scientific research are becoming increasingly clear with regard to how......

Words: 2192 - Pages: 9

Csr Report

... CSR REPORT ANALYSIS Student name Institution Date Introduction A business report is meant to put across information useful to a particular business. Actually, a business reports lets the stake holders know the position that their investment stands. These reports also provide problems that have been faced by the business and also the strategic plans that are supposed help solve the problems in future. The following report is basically evaluating two companies’ annual reports. This report will consider all factors such as services, products, and the environment as well as stake holders, both internal and external; based on the annual reports of both, Mitsubishi and Sony companies. Both have designed their reports to inclusively create awareness to all their stake holders, concerning the CSR actions that the companies may be planning to undertake Scope The following report will be based on; Setting out the differences between the reports of the two companies in terms of the range of issues dealt within the reports and the depth of the coverage; a. Explain the differences between the two reports in terms of country or industry factors; b. Assess the quality of the reporting in terms of Zadek’s (1997) criteria c. Evaluate the extent to which it would be appropriate for the two companies to use a standardized approach; d. Make recommendations about how each of the reports could be improved and why A. Set out the differences between the reports of the two......

Words: 3893 - Pages: 16

Csr Clp Company

...CLP is successfully expanding the business developments into Chinese Mainland, Australia, India, Southeast Asia and Taiwan; it has become one of the leading power companies across Asia now. The CLP obtains its philosophy of customer-oriented for providing highly reliable electricity to customers by world-class power supply in Hong Kong. The mission of CLP is to produce and supply energy with minimal environmental impact to create value for shareholders, employees and the wider community. In 2010, the CLP was awarded The Standard Award for Best Retention Strategies by Key Media, HRM Awards. The voluntary turnover rate of CLP is 3.1% in Hong Kong in 2010, it is the lowest rate in the businesses of other countries and a lower rate compared with many organizations. How can the CLP sustain its company in low turnover rate in Hong Kong? The followings are the reasons that we analyzed through the research findings on successful retention strategies in different human resources aspects. Throughout the corporate social responsibility in community, the CLP can build the positive image. The positive image of company can help to increase and maintain the retention of employees. If the company image is good that means the stakeholders have confidence toward this company, then the employees are more willing to stay at the company with positive goodwill and reputation. Therefore, the CLP does better than the rival on participating in different activities to the community through the......

Words: 898 - Pages: 4

Attaining Csr

...team. It is part of an ongoing commitment by IBM Global Business Services to provide analysis and viewpoints that help companies realize business value. You may contact the authors or send an e-mail to iibv@us.ibm.com for more information. Attaining sustainable growth through corporate social responsibility By George Pohle and Jeff Hittner A growing body of evidence asserts that corporations can do well by doing good. Well-known companies have already proven that they can differentiate their brands and reputations, as well as their products and services, if they take responsibility for the well-being of the societies and environments in which they operate. These companies are practicing Corporate Social Responsibility (CSR) in a manner that generates significant returns to their businesses. Corporate Social Responsibility is the way companies manage their businesses to produce an overall positive impact on society through economic, environmental and social actions. Introduction Just as the Internet has triggered lasting change in the structures of industry and the ways in which industries can create value, the ubiquitous connectivity in place today has already caused an enduring shift in the relationship between an enterprise and its customers, employees, and partners. That’s because massive amounts of information – and opinions – about companies, their products and practices, are available in every part of the globe, every minute of every day. And because the......

Words: 6470 - Pages: 26

Csr at Koto

...CSR PROGRAM ‘’KNOW ONE, TEACH ONE’’ CSR PROGRAM ‘’KNOW ONE, TEACH ONE’’ Corporate Social Responsibility Department Corporate Social Responsibility Department TABLE OF CONTENT I. OVERVIEW OF CSR IN VIETNAMESE HOSPITALITY INDUSTRY II. CSR PROGRAM ‘’KNOW ONE, TEACH ONE’’ 1. General information 2. Programs III. REASONS AND DRIVERS 1. KOTO as a great contribution to society 2. KOTO as a sustainable impact IV. CONCLUSIONS V. REFERENCES I. OVERVIEW OF CSR IN VIETNAMESE HOSPITALITY INDUSTRY It is probable that CSR process in Vietnam arises from the reform in the early 1990s and attracts more and more attention as the norms, policies and perquisites protocol of international trade have sharpened the development process. Today, companies gain competitive advantages not only by quality of product and service, pricing strategy or location but also by their consideration and responsibility for the environment and community. While CSR is a growing movement in the hospitality industry in Asia, there are only a few enterprises really pay attention to CSR in Vietnam. One of the most outstanding program is carried out by Joma Bakery Café, which is called ‘’The Joma Way’’ (1). The program includes three main initiatives: -Donate 2% of revenue supporting grassroots initiatives focused on meeting basic life needs -Offer training and growth opportunities for disadvantaged persons -Involve in community......

Words: 1645 - Pages: 7

Csr and Employees

...Corporate Social Responsibility and Employees An insight into the relationship between CSR and companies’ own employees Corporate Social Responsibility vs. Employees Most of the current researches and data available today regarding Corporate Social Responsibility (CSR) initiatives are on the cause and effect of CSR initiatives on the customers’ perception of the company. According to those data, it is apparent that the more companies are involved with CSR initiatives, the better they perform in terms of customers’ brand and product evaluations (Klein). There is also quite a bit of information on how customers nowadays view company’s CSR with increasing weight and importance. However, there seems to be a shortage of information on how companies’ CSR initiatives affect their own employees. Because employees are the primary stakeholders who directly contribute to the success of the company, understanding employee reactions to CSR is helpful in discovering potential effects of CSR on firms and causes leading up to these effects (Bauman). Through observing employees’ perception on CSR and their attitude change due to their company’s investment in CSR, we can delve deeper into the intrinsic motivation behind companies’ CSR initiatives, rather than purely focusing on the results. The purpose of this research paper is to address this specific topic: relationship between CSR and companies’ employees. In addition to providing you with great insights on CSR’s impact on......

Words: 4039 - Pages: 17

Csr in Business

...Introduction As the theoretical framework of CSR evolves, there is increasing focus on the interaction between internal capabilities and business activities with the external environment. Aras and Crowther (2007) integrated key attributes of sustainable activities, namely Societal influence, Environmental impact, Organisational culture and Finance, in conjunction with internal-external and short-term long-term context to develop the sustainable development guiding framework for corporations, i.e. Model of Sustainable Development. Visser (2010) proposed the concept of CSR 2.0, highlighting five dimensions (C)reativity, (S)calability, (R)esponsiveness, (2) glo-cality and 0) or circularity as the five targets for future CSR activities. Unilever’s CSR efforts in 2012 are analysed using the above models and short conclusions are drawn about the effectiveness and overall accountability and transparency achieved by the company. Model of Sustainable Development Theoretical Background Many executives are realising that an enterprise’s environmental and societal impacts influence business long term viability as much as financial performance (Lawler and Worley, 2012). This trend is clearly presented in a recent study by the United Nations (2013) since 96% of surveyed CEOS believe that sustainability is crucial to future success of their companies and they have certain plans to ensure sustainability. Owing to the importance of sustainability in contemporary business, it is of......

Words: 2514 - Pages: 11

Csr in Vietnam

...OF ITS IMPORTANCE By PHAM THUY LY March 2011 Supervisor: Dr. Le Van Lien ABSTRACT CSR is currently an important and necessary issue for everyone and business organizations in the world, as well as in Viet Nam. CSR concept has been developed for several decades in the world, but in Viet Nam, it is not popular for all people and companies. Especially, Vietnamese economy has been integrated with global economy, and then CSR has become more important issues for business to develop sustainably and competition with internal and external partners. In order to develop CSR concept and disclosure further, perception on CSR of stakeholder groups is a unique factor. This study aims to discover how organization view CSR and CSR issues, whether behavior or attitude of manager‟s business organization and consumers, as well as accounting students toward CSR. The results of the study suggest that there is strong support for CSR from managers and a growing awareness among consumers and accounting students. Nevertheless, there is expectation gap between how people perceive and how people act because there are lack of adequate CSR disclosure from firm, and not-soiv enthusiastic support actions from consumers due to the barriers in living expenses, and low effective CSR communication tools that companies use. However, with highly positive attitude toward CSR and the willingness to learn about CSR of people, CSR concept and practice will be popular and developed further in the future. TABLE OF...

Words: 15301 - Pages: 62

Csr Activities

...critical importance. The motivations for these contracts are continuously being revisited to understand how CSR programs can nurture and contribute to the growth of firms. While CSR issues are attracting a great deal of attention in the developed world, there is a need for more research into CSR in the developing world. This paper considers the CSR practices of a small sample of multinational corporations (MNCs) and local firms in Bangladesh to better understand this situation. Introduction Corporate social responsibility (CSR) has generated significant debate in academic and corporate circles in recent times. This debate acknowledges the importance of CSR in the first-world, but raises questions regarding the extent to which corporations operating in developing countries have CSR obligations (Jamali and Mirshak, 2007). Conventional wisdom suggests that CSR is more relevant to corporations operating in the developed countries due to elevated community expectations of socially responsible behaviour. In contrast there is also a belief that societal expectations in the developing countries mainly centre on economic growth; therefore relegating CSR to be of lesser importance to the society and the firms (Khan, 1985). Against this back drop, this paper discusses the situation prevailing in the developing world to broaden our understanding of the perceptions and practices of CSR. Bangladesh is used as a test case for this purpose because this country is believed to posses the......

Words: 2454 - Pages: 10

Csr Axiata

...Journal of Economics, Business and Management, Vol. 1, No. 1, February 2013 Corporate Social Responsibility to Reflect Organization‟s Corporate Identity: A Content Analysis Musdiana Mohamad Salleh, Nabsiah Abdul Wahid, and Malliga Marimuthu  Abstract—The authors propose corporate social responsibility (CSR) as a useful element in reflecting an organization’s corporate identity (CI) to its target audiences. The inclusion of CSR highlights organization’s role as a ‘good’ citizen in society and is the basis for any beneficial exchanges between the parties. Content analyses on CSR of 10 top ranked Malaysian companies supported this proposition. Index Terms—Corporate social responsibility, corporate identity, content analysis. effort in integrating their stakeholders‟ social and environmental expectations and/or concerns into their daily operations and their interaction with the stakeholders. B. Corporate Identity Corporate identity (CI) has been used as the basis for other various corporate level concepts like image, reputation or corporate communications; and is even considered fundamental in corporate marketing field [1]-[2]. The traditional VI perspective sees CI being used at the early stage of organization‟s operation as it becomes the mean for CI transmission e.g. through logos, brand images and other visual manifestations representing them [3]. CI has evolved from this definition from focusing only on the minor elements of the organization to now emphasizing more on the...

Words: 3460 - Pages: 14

The Hershey Company and Csr Challenge

...The Hershey Company and CSR Challenge The Hershey Company is the leading North American manufacturer of chocolate confectionery (The Hershey, 2014). The company uses cocoa suppliers in West Africa, where the harvest type of child labour and human trafficking is exposed in the chocolate industry. Thousands of children are forced to engage in unsafe activities such as using machetes and carrying heavy loads. Therefore, the majorities have scars on their body (Nieburg O., 2014). Nearly two million children work illegally on cocoa farms. Children from the Western Africa start to work at a young age of 12 to help their families because of the intense poverty that surround them (Louv J., 2014). Decision-making models • Bounded Rationality In order to address the issue of child labour and to build sustainability in the community, Hershey Company should follow the Bounded Rationality style of decision- making. The rational decision making model is very effective in the cocoa farms as it’s based on the rational thinking in order to come up with the best potential results. It gives the possibility to find possible solutions to the child labour issue, to calculate the consequences of them and finally to choose the best option. There is a cycling through different choices until an applicable one is found (Cioran N.A., 2013). • Varoom and Yetton’s Leadership On the other side, referring to the Varoom and Yetton’s Leadership and Decision-making (1973), it also can be an...

Words: 567 - Pages: 3

Csr Report

...Executive Summary This report focuses on the effects on corporate social responsibility (CSR) on MNC from a theoretical point of view by explaining the principles of the CSR in the MNC in a business strategy, identifying the challenges faced by the company in introducing the CSR practice and recommendation by ensuring its effective growth introduction to the company. Corporate social responsibility (CSR) helps MNCs to work in a way which accept ethical way and also contribute to the economic growth and improvethe employees living environments, the smaller society and the bigger society. Multi-national companies can help for CSR in developing countries.The principle of CSR is as a result of globalisation. For centuries, globalisation has been a trend that has knitted people together; this can be traced back to the ‘trade by barter’ system. As civilisation evolved, globalisation began to have more effect and thus implementing CSR. Globalisation has its impacts, both positive and negative on businesses, families, individuals, communities and nations. It is believed that CSR is a means of highlighting the positive impacts of globalisation. Introduction Corporate social responsibility is defined as operating a business in a way that helps for the social and social and environmental effect created by the business organisation. Corporate social responsibility (CSR) helps MNCs to work in a way which accept ethical way and also contribute to the......

Words: 2704 - Pages: 11

Is Csr Just Another Form of Pr for Companies Wishing to Get an Edge on Their Competitor? Discuss with Primary Reference to Ikea

...Responsibility Assignment Question: Is CSR just another form of PR for companies wishing to get an edge on their competitor? Discuss with primary reference to IKEA. Student Name: Pui Tung CHIU Submission Date: 3 April 2015 Introduction A business activity generates both positive and negative influence for both the corporate as well as the society. The growing expectations of social, environmental and legal responsibility gradually rise in the past decades for corporate. Organizations use corporate social responsibility (CSR) to set up activities in order to achieve and respond these expectations. Jamali and Mirshak (2007) state that CSR approach helps to attract global attention and acquire a new resonance in the worldwide economy. However, Frankental (2001) claims “Do CSR is a public relations (PR) invention?” and company focus on promoting itself, getting an edge on its revivals rather than being ethic to protect the environment or maintain human welfare. Therefore, in this essay, author is going to discuss about the different between CSR as well as PR. Moreover, it will apply an example of IKEA to examine the effectiveness of its CSR in supply chain and analyze CSR as a business strategy to maintain the sustainability of business, financial control and risk management. Afterwards, author will highlight the limitations of CSR policy and finally provide some recommendations to improve the CSR strategy for corporates in order to......

Words: 2989 - Pages: 12