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CSR for task 1
Transcript of CSR for task 1
Corporate Social Responsibility
What is CSR?
"CSR" stands for Corporate Social Responsibility
Can also be referred to as "corporate conscience", "social responsibility" or "sustainable business behavior", etc
Textbook definition is "CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms." (wikipedia.com)
Practical CSR approaches
company aims to create new products or services that in the long run create improvement in the societies they operate in => society benefits
focus on every stakeholder in the entire company/organization enables the company to actively participate and enforce CSR policies from top to bottom to the supply chain network
Why bother with CSR?
Types of CSR
1. Corporations provide funding and resources for social causes like donating money or employee time to various charities, e.g. environmental causes
Innovation - company forces itself look for different solutions and new ideas originate
Cost saving - utilizing new ideas to save packaging material costs or energy costs
Long-term thinking - sustainability
Publicity benefits - company image, brand differentiation, social media, promotion
Workplace impact - a positive workplace environment yields better results and dedication from employees when they perceive that their company has a "conscience"
Issues that affect CSR from a company viewpoint
politics & state law
the organizational structure of the corporation
the attitude of the corporation
profit & losses
2. Corporations develop a real plan to produce products or services that are in the best interest of society, e.g. using sustainable materials
"Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders."
Key issues related to CSR
labour standards and working conditions
employee and community relations
More detailed definition
END OF PRESENTATION