BUS 3306 Business Corporate Social Responsibility Discussion – Description
Introduction
President Obama, Global Entrepreneurship Summit, July 25, 2015, Nairobi, Kenya by US Department of State is licensed under Public Domain
Welcome to Unit 2, Corporate Social Responsibility. In this unit, we will explore the concept of Corporate Social Responsibility in greater detail. This represents a more formalized and strategic effort of businesses in regards to behaving more ethically, sustainably, and with the interests of their various stakeholders in mind. While this is certainly the morally and ethically responsible way to conduct business, business leaders are more often persuaded by the fact that dedicating the focus of their operational practices to include corporate social responsibility improves their image in the community and ultimately increases their profitability.
As you navigate through the unit (using the arrows), make sure you click on the different links, read through the content, and watch the videos. Consider any parts that are unclear to you, and make note of them in your learning journal.
Introduction
CORPORATE SOCIAL RESPONSIBILITY
CSR can be simply and broadly as the ethical role of the corporation in society. Corporations themselves often use this term in a narrower, and less neutral, form. When corporations have a director of CSR or a committee in charge of CSR, or when they mention CSR prominently in their mission statements, they are invariably using the term to mean “corporate actions and policies that have a positive impact on society.” Corporations refer most frequently to CSR when they speak of civic organizations they support, or to corporate environmental or social policies.
One related term here is corporate “compliance.” Not only are large corporations subjected to a host of governmental regulations, many of which have social objectives (such as avoidance of discrimination, corruption, or environmental damage), but many corporations also have set up internal guidelines. In order to make sure that a corporation respects or complies with all these laws, regulations, and norms, both internal and external, corporations increasingly employ “compliance” officers or executives. For example, large fashion and apparel companies frequently place a specific executive in charge of “human rights compliance,” to ensure that its clothing was manufactured in safe factories that respect labor laws and do not employ children.
As you read the following you will begin to see and further understand how the interests of various stakeholders can and should influence the ways in which a business:
creates and distributes their products
provides services
presents themselves externally
treats their employees
and invests in their communities.
Complete the following activities to learn more about CSR:
Fernando, J. (2021, September 4). Corporate Social Responsibility (CSR). Investopedia. https://www.investopedia.com/terms/c/corp-social-r…
Learn the who, what, why, and how of CSR.
Winston, A. (2020, December 29). How did business’s role in society change in 2020? Harvard Business Review. https://hbr.org/2020/12/how-did-businesss-role-in-…Learn the role businesses can play within a society
Licenses and Attributions
Corporate social responsibility – clearing refuse from a community school football field [Image] by Obiok License: CC BY-SA
Good Corporation, Bad Corporation: Corporate Social Responsibility in the Global Economy. Authored by: Elizabeth Pulos and Guillermo C. Jimenez. . Project: Open SUNY Textbooks. License: CC BY-NC-SA
Introduction
IMPLEMENTING CSR
The ways in which organizations implement CSR depends on how they define it, whether as a moral obligation or as a rational approach to stakeholder satisfaction. It is most effectively implemented when it is part of organizations’ culture, planning, and management. Download the CSR Framework [PDF].
The implementation of CSR requires a comprehensive approach that should include:
effective public relations that help every discipline in an organization to understand how an organization can improve, how that improvement enhances stakeholder relationships, and how it can be communicated involvement in public relations;
strong communication and transparency between the stakeholder groups and the corporation;
a track record of commitment and consistency to build trustworthiness
Learn more by reading and taking notes on the following:
Miller, K. (2020, December 8). The triple bottom line: What it is & why it’s important. Harvard Business School Online. https://online.hbs.edu/blog/post/what-is-the-tripl…
Learn about the triple bottom line a core concept in implementing CSR.
Giving back: 4 ways your company can do good to read how companies use CSR to make an impact on society.
Licenses and Attributions
Image: CSR framework. Wikimedia Commons. License: Public Domain.
DISCUSSION
Write a paragraph on the following:
Give an example of a personal experience that you’ve had with a company that demonstrates a noteworthy level of corporate social responsibility. What makes them CSR and how does it positively impact the community or you?
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