Social Responsibility Ethics in Business January 8, 2016

What is Social Responsibility  a voluntary responsibility to society  Individuals  Groups  Organizations  Governments  Corporations

Corporate Social Responsibility  Many different definitions  Legal compliance  Ethical standards  Community involvement  Philanthropy -act of donating resources

How do corporations give to communities?  Cash  In-Kind Contributions  Volunteer Programs  Corporate Foundations  Cause-Related Marketing

Cash  Grants  Cash  Capital-land, building, equipment  Challenge (competition)  Matching  Example: for every $1 employees contribute, the company will contribute $5

In-Kind Contributions  Non-cash contributions  New or Excess Products  Used Equipment, Supplies, furniture, etc.  Facilities or Services  Meeting rooms, dining facilities  Technology services  Financial expertise

Volunteer Programs  Employees use work time to volunteer  Volunteer award programs  Volunteer teams for specific events  Executives serve on local committees

Corporate Foundations  Created by a corporation  Funded by profits from corporation  Examples:  The Google Foundation  Nike Foundation

Cause-related Marketing  Links company to social issue  Purpose to increase awareness of  a cause  a company’s brand