29 March 2014
CSR in Business!!
Corporate social responsibility (CSR) is the process by which businesses negotiate their role in society
In the business world, ethics is the study of morally appropriate behaviors and decisions, examining what "should be done”
Although the two are linked in most firms, CSR activities is no guarantee of ethical behavior
An Internet search turns up 15,000 plus response to “corporate citizenship”
Journals increasingly “rate” businesses (and NGOs) on socially responsive criteria:
Best place to work
Best (and worst) corporate reputation
CSR activities are important to and even expected by the public
And they are easily monitored worldwide
CSR activities help organizations hire and retain the people they want
CSR activities contribute to business performance.
CSR are Grounded by Opposing Objectives (Maximize Profits to Balance Profits with Social Responsibility) and so Activities Range Widely.
Do what it takes to make a profit; skirt the law; fly below social radar
Fight CSR initiatives
Comply with legal requirements
Do more than legally required, e.g., philanthropy
Articulate social (CSR) objectives
Integrate social objectives and business goals
Lead the industry on social objectives.
Businesses CSR Activities
give money or time or in kind to charity
Integrative philanthropy—select beneficiaries aligned with company interests
Philanthropy will not enhance corporate reputation if a company
fails to live up to its philanthropic image or
if consumers perceive philanthropy to be manipulative.
Integrate CSR Globally
Incorporate values to make it part of an articulated belief system
Act worldwide on those values
Cause-based cross sector partnerships
Engage with stakeholders