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Corporate Social Responsibilty and Business Ethics
Transcript of Corporate Social Responsibilty and Business Ethics
Corporate Social Responsibility
What is it?
CSR is the constant commitment by business to behave ethically, whilst contributing to economic development .
-Quality of life of the workforce
Benefits of CSR
Negatives of CSR
Find a company with a great CSR strategy that you are passionate about.
Food and drink
New Trends in CSR
What is it
Acting in an ethical way involves distinguishing between ‘right’ and ‘wrong’ and then making the ‘right’ decision.
Key Themes in Ethics
Advantages of implementing ethics
Csr and Ethical Rating
Put the given companies in order starting from least ethical to most ethical
Collins, D (2009) Essentials of Business Ethics: Creating an organisation of high integrity and superior performance. Wiley; John & Sons, Incorporated.
Epstein-Reeves, J. (2010). Consumers Overwhelmingly Want CSR. Available: http://www.forbes.com/sites/csr/2010/12/15/new-study-consumers-demand-companies-implement-csr-programs/. Last accessed 5th February 2014.
Lin, L. (2013) An Ugly Dilemma for Beauty Companies. [Online] Mintel.
Staton, L. (2010). Corporate Social Responsibility (CSR) – Do customers really care?. Available: http://www.reputationforward.com/2010/09/corporate-social-responsibility-csr-do-customers-really-care.html. Last accessed 5th February 2014.
The Times Newspaper (2008) Business ethics and corporate social responsibility. MBA Publishing Ltd.
Walts, P, Holme, R, Shell International, Tinto, R ed. (1999) Corporate social responsibility: Meeting changing expectations. Switzerland: World Business Council for Sustainable Development. (World Business Council for Sustainable Development)
Parguel, B, Benoit-Moreau, F, Larceneux, F (2011) 'How Sustainability Ratings Might Deter 'Greenwahing': A closer look at Ethical Corporate Communication'. Journal of Business Ethics, 102 (1).
Pohl, M, Tolhurst, N (2012) Responsible Business: How to Manage a CSR Strategy Successfully. 2nd ed. West Sussex: John Wiley & Sons.
PR Newswire. (2013) Pros and Cons of Animal Testing - Latest Research in Ongoing Debate.
Urip, S (2010). CSR Strategies. West Sussex: John Wiley and Sons.
(The Times Newspaper, 2008)
(Walts, et al, 1999)
High quality employees
Higher levels of employee satisfaction and loyalty
Earn goodwill with the community and Government
Greater efficiency and decision making
Higher product quality
Long run ethical companies are likely to financially outperform non-ethical companies
Companies need to incorporate stakeholders interests in the decision making process
Acceptance can lead to increased profits
Pohl and Tolhurst (2012)
PR Spin? Greenwashing
Enhance corporate image
Trouble identifying truly
Parguel, et al (2011)
Companies that use C.S.R.
Implementation of environmentally conscious policies with the underlying purpose of increasing profits for stakeholders. Kahle and Gurel-Atay, (2013)
Revenue Transparency and accountability
Social Media to engage in CSR issues
Employee Volunteering Programmes
Integration into mainstream businesses
Local community and society:
• Changed habits, improved quality of life
• Capacity building, creates employment and wealth
• Growth, profit, image, and competitive edge
• Community acceptance and goodwill
The world and the environment:
• Waste management
• Green and clean environment
(Urip, 2010: 14)
Why do companies implement a CSR Strategy
88% think companies should aim to achieve goals whilst improving society and the environment
83% think companies should support Non Profit Organisations and charities financially
The average consumer will drive 11 minutes out of their way to buy a cause-marketing product
30% of companies demonstrate correlation between CSR efforts and enhanced profitability
26 Million Animals - US
72 Animals per product, 4,249 products being tested on, equals 305,928 animals in China each year.
What is C.S.R
Why do companies implement a C.S.R strategy
New trends in C.S.R
Key themes in ethics
Important of CSR
25% Very important
31% Does not impact purchasing decisions