Corporate Social Responsibility

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Presentation transcript:

Corporate Social Responsibility BOH4M

The Positives Good things businesses do? Meet our needs/wants Generate wealth Create jobs Innovate

The Negatives Bad things businesses do? Pollution Sweatshops/child labour Fraud Consumerism

Stakeholders Who is affected by the actions of a business?

Stakeholders Owners/shareholders Employees Customers Buyers and Suppliers The community

Social Responsibility Related to “corporate citizenship” and business ethics Corporate social responsibility (CSR) means taking your duty to all stakeholders, especially the community as a whole, seriously

Social Responsibility Doing good things Donating goods, services, or money to charities Sponsoring public service ads Not doing bad things Being environmentally responsible Safe working conditions and fair wages Transparency and accountability

Why CSR? Owner(s) feel strongly about it Good publicity = good for business Tax deductions The right thing to do Companies should solve the problems they cause Ex: pollution Keeps the government out of business Increased market share

The case against CSR Improving the community should be the responsibility of the public sector Diminishes profit to owners/shareholders Makes business less competitive Increases costs A company’s social obligations are discharged when it pays taxes Businesses may exert too much influence over charitable causes Responses to these arguments?

Principles The Charity Principle The Stewardship Principle Two key principles are at the heart of CSR: The Charity Principle The Stewardship Principle

The Charity Principle The wealthy have a responsibility to the poor Corporations are large, powerful, and wealthy “citizens”, and should therefore take up social causes Stems from early 1900s American tycoons Andrew Carnegie and John D. Rockefeller who contributed large sums of money to charitable organizations

The Stewardship Principle When business executives think of themselves as trustees of society Company must ensure that society benefits from their actions, rather than being hurt by them Recognize that company is not a closed system – if affects (and is affected by) its environment Must balance the interests of multiple stakeholders

Case Study Malden Mills