Corporate Social Responsibility and Environmental Management. Corporate Social Responsibility and Environmental Management provides a resource for the ever increasing number of organisations concerned about social and environmental responsibilities in the context of sustainable development and are interested in developing tools and case studies to improve their performance and accountability Jul 05, · There has, in recent times, been an increasing interest in understanding corporate social (and environmental) responsibility (CSR) and, in particular, CSR reporting in developing countries. However, many of these studies fail to investigate fully the contextual factors that influence CSR and reporting in those countries, preferring to rely on theories and hypotheses developed from studies May 19, · Corporate Social Responsibility (CSR) is a new idea—where the corporate sector incorporates social and environmental concerns in its strategies and plays a more responsible role in the world. This paper will argue that with some effort and foresight, corporate social responsibility can be integrated seamlessly in the goals of almost all
Corporate social responsibility - Wikipedia
Corporate social responsibility research papers social responsibility CSR is a form of international private business self-regulation [1] which aims to contribute to societal goals of a philanthropic, activist, corporate social responsibility research papers, or charitable nature by engaging in or supporting volunteering or ethically-oriented practices. While it has been considered a form of corporate self-regulation [4] for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organizations to mandatory schemes at regional, national, and international levels.
Considered at the organisational level, CSR is generally understood as a strategic initiative that contributes to a brand's reputation. With some models, a firm's implementation of CSR goes beyond compliance with regulatory requirements and engages in "actions that appear to further some social good, beyond the interests of the firm and that which is required by law". Furthermore, businesses may engage in CSR for strategic or ethical purposes.
From a strategic perspective, CSR can contribute to firm profits, particularly if brands voluntarily self-report both the positive and negative outcomes of their endeavors. CSR strategies encourage the company to make a positive impact on the environment and stakeholders including consumers, employees, investors, communities, and others.
argues that harming the environment is ethically objectionable. Proponents argue that corporations increase long-term profits by operating with a CSR perspective, while critics argue that CSR distracts from businesses' economic role. A study compared existing econometric studies of the relationship between social and financial performance, concluding that the contradictory results of previous studies reporting positive, negative, and neutral financial impact, were due to flawed empirical analysis and claimed when the study is properly specified, CSR has a neutral impact on financial outcomes.
In line with this critical perspective, political and sociological institutionalists became interested in CSR in the context of theories of globalizationneoliberalismand late capitalism. Some institutionalists viewed CSR as a form of capitalist legitimacy and in particular point out that what began as a social movement against uninhibited corporate power was transformed by corporations into a "business model" and a " risk management " device, often with questionable results.
The concept and ambit of Corporate Social Responsibility CSR has exponentially increased in the recent past particularly during the outbreak of the novel coronavirus disease COVID which was declared as a pandemic by the World Health Organization WHO on CSR is titled to aid an organization's mission as well as serve as a guide to what the company represents for its consumers.
Business ethics is the part of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. ISO is the recognized international standard for CSR. Public sector organizations the United Nations for example adhere to the triple bottom line TBL. It is widely accepted that CSR adheres to similar principles, but with no formal act of legislation.
It is also called corporate sustainability, sustainable business, corporate conscience, corporate citizenship, conscious capitalism, corporate social responsibility research papers, or responsible business. Since the s, [19] corporate social responsibility has attracted attention from a range of businesses and stakeholders. A wide variety of definitions have been developed but with little consensus, corporate social responsibility research papers.
Part of the problem with definitions has arisen because of the different interests represented. A business person may define CSR as a business strategy, an NGO activist may see it as ' greenwash ' corporate social responsibility research papers a government official may see it as voluntary regulation.
In the s, two law professors, A. Berle and Merrick Dodd, famously debated how directors should be made to uphold the public interest: Berle believed there had to be legally enforceable rules in favor of labor, customers and the public equal to or ahead of shareholders, while Dodd argued that powers of directors were simply held on trust. Corporate social responsibility has been defined by Sheehy as "international private business self-regulation.
The definitions reviewed included the economic definition of "sacrificing profits," a management definition of "beyond compliance", corporate social responsibility research papers, institutionalist views of CSR as a "socio-political movement" and the law's focus on directors' duties, corporate social responsibility research papers.
Further, Sheehy considered Archie B. Carroll 's description of CSR as a pyramid of responsibilities, namely, economic, legal, ethical, and philanthropic responsibilities. Carroll extended corporate social responsibility from the traditional economic and legal responsibility to ethical and philanthropic responsibility in response to the rising concerns on ethical issues in businesses.
Companies express this citizenship 1 through their waste and pollution reduction processes, 2 by contributing educational and social programs, and 3 by earning adequate returns on the employed resources. Businesses have changed when the public came to expect and require different behavior [ Most consumers agree that while achieving business targets, companies should engage in CSR efforts at the same time, corporate social responsibility research papers.
Consumers also believe that retailers selling local products will gain loyalty. However, environmental efforts are receiving negative views given the belief that this would affect customer service, corporate social responsibility research papers.
Mohr et al. Some commentators have identified a difference between the Canadian Montreal school of CSRthe Continental Europeanand the Anglo-Saxon approaches to CSR. A more common approach to CSR is corporate philanthropy. This includes monetary donations and aid given to nonprofit organizations and communities.
Donations are made in areas such as the arts, education, housing, health, social welfare, and the environment, among others, but excluding political contributions and commercial event sponsorship. Another approach to CSR is to incorporate the CSR strategy directly into operations, such as procurement of Fair Trade tea and coffee. Creating shared value or CSV is based on the idea that corporate success and social welfare are interdependent. A business needs a healthy, educated workforce, sustainable resources, and an adept government to compete effectively.
For society to thrive, profitable and competitive businesses must be developed and supported to create income, wealth, tax revenues, and philanthropy. CSV gives the impression that only two stakeholders are important — shareholders and consumers. Many companies employ benchmarking to assess their CSR policy, implementation, and effectiveness. Benchmarking involves reviewing competitor initiatives, as well as measuring and evaluating the impact that those policies have on society and the environment, and how others perceive competitor CSR strategy.
In competitive markets, the cost-benefit analysis of CSR initiatives can be examined using a resource-based view RBV. According to Barney"formulation of the RBV, sustainable competitive advantage requires that resources be valuable Vrare Rinimitable I and non-substitutable S. However, should competitors imitate such a strategy, that might increase overall social benefits?
Firms that choose Corporate social responsibility research papers for strategic financial gain are also acting responsibly. RBV presumes that firms are bundles of heterogeneous resources and capabilities that are imperfectly mobile across firms. This imperfect mobility can produce competitive advantages for firms that acquire immobile resources.
McWilliams and Siegel examined CSR activities and attributes as a differentiation strategy. They concluded that managers could determine the appropriate level of investment in CSR by conducting cost-benefit analysis in the same way that they analyze other investments. Reinhardt found that a firm engaging in a CSR-based strategy could only sustain an abnormal return if it could prevent competitors from imitating its strategy.
The relationship between corporate social responsibility and a firm's corporate financial performance is a phenomenon that is being explored in a variety of research studies that are being conducted across the world.
Based on these research studies, including those conducted by Sang Jun Cho, Chune Young Chung, and Jason Young, a positive relationship exists between a firm's corporate social responsibility policies and corporate financial performance. To investigate this relationship, the corporate social responsibility research papers conducted a regression analysis and preceded the analysis with the provision of several measures that they utilized to serve as proxies for key financial performance indicators i.
return on assets serves as a proxy for profitability. Initially, CSR emphasized the official behaviour of individual firms. Later, it expanded to include supplier behaviour and the uses to which products were put, and how they were disposed of after they lost value.
In the corporate social responsibility research papers century, corporate social responsibility in corporate social responsibility research papers supply chain has attracted attention from businesses and stakeholders. A corporations' supply chain is the process by which several organizations including suppliers, customers, and corporate social responsibility research papers providers work together to provide a value package of products and services to the end-user, who is the customer.
Corporate social irresponsibility in the supply chain has greatly affected the reputation of companies, leading to a lot of costs to solve the problems. For instance, incidents like the Savar building collapsewhich killed over people, pushed companies to consider the impacts of their operations on society and the environment.
On the other side, the horsemeat scandal of in the United Kingdom affected many food retailers, corporate social responsibility research papers, including Tesco, corporate social responsibility research papers, the largest retailer in the United Kingdom, [49] leading to the dismissal of the supplier.
Corporate social irresponsibility from both the suppliers and the retailers has greatly affected the stakeholders who lost trust in the affected business entities, and although sometimes it is not directly undertaken by the companies, they become accountable to the stakeholders. These surrounding issues corporate social responsibility research papers prompted supply chain management to consider the corporate social responsibility context.
Wieland and Handfield suggested that companies need to include social responsibility in their reviews of component quality. They highlighted the use of technology in improving visibility across the supply chain. Corporate social responsibility includes six types of corporate social initiatives: [2]. All six of the corporate initiatives are forms of corporate citizenship. However, only some of these CSR activities rise to the level of cause marketingdefined as "a type of corporate social responsibility CSR in which a company's promotional campaign has the dual purpose of increasing profitability while bettering society.
Companies generally do not have a profit motive when participating in corporate philanthropy and community volunteering. On the other hand, the remaining corporate social initiatives can be examples of cause marketing, in which there is both a societal interest and profit motive. CSR may be based within the human resourcesbusiness development or public relations departments of an organisation, [52] or may be a separate unit reporting to the CEO or the board of directors.
An engagement plan can assist in reaching the desired audience. A corporate social responsibility individual or team plans the goals and objectives of the organization, corporate social responsibility research papers. As with any corporate activity, a defined budget demonstrates commitment and scales the program's relative importance. Social accounting is the communication of social and environmental effects of a company's economic actions to particular interest groups within society and to society at large.
Social accounting emphasizes the notion of corporate accountability, corporate social responsibility research papers. Crowther defines social accounting as "an approach to reporting a firm's activities which stresses the need for the identification of socially relevant behavior, the determination of those to whom the company is accountable for its social performance and the development of appropriate measures and reporting techniques.
Reporting guidelines and standards serve as frameworks for social accounting, auditing, and reporting:. In nations such as France, legal requirements for social accounting, auditing and reporting exist, though international or national agreement on meaningful measurements of social and environmental performance has not been achieved.
Many companies produce externally audited annual reports that cover Sustainable Development and CSR issues "Triple Bottom Line Reports"but the reports vary widely in format, style, and evaluation methodology even within the same industry. Critics dismiss these reports as lip service, citing examples such as Enron 's yearly "Corporate Responsibility Annual Report" and tobacco companies' social reports.
In South Africa, as of Juneall companies listed on the Johannesburg Stock Exchange JSE were required corporate social responsibility research papers produce an integrated report in place of an annual financial report and sustainability report.
This requirement was implemented in the absence of formal or legal standards. An Integrated Reporting Committee IRC was established to issue guidelines for good practice. One of the reputable institutions that capital markets turn to for credible sustainability reports is the Carbon Disclosure Projector CDP. Corporate social responsibility and its resulting reports and efforts should be verified by the consumer of the goods and services.
Due to an increased awareness of the need for CSR, many industries have their own verification resources. The United Nations Global Compact provides frameworks not only for verification, but also for reporting human rights violations in corporate supply chains.
The rise of ethics training inside corporations, some of it required by government regulation, has helped Corporate social responsibility research papers to spread. Such training aims to help employees make ethical decisions when the answers are unclear. Organizations see increased employee loyalty and pride in the organization. Common CSR actions include: [73]. Social License to Operate can be determined as contractual grounds for the legitimacy of activities and projects a company is involved in.
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May 19, · Corporate Social Responsibility (CSR) is a new idea—where the corporate sector incorporates social and environmental concerns in its strategies and plays a more responsible role in the world. This paper will argue that with some effort and foresight, corporate social responsibility can be integrated seamlessly in the goals of almost all Corporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically-oriented practices. While once it was possible to describe CSR as an internal organisational policy or a corporate ethic strategy, that time has Jul 05, · There has, in recent times, been an increasing interest in understanding corporate social (and environmental) responsibility (CSR) and, in particular, CSR reporting in developing countries. However, many of these studies fail to investigate fully the contextual factors that influence CSR and reporting in those countries, preferring to rely on theories and hypotheses developed from studies
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