Corporate Responsibility
description
Transcript of Corporate Responsibility
Corporate Corporate ResponsibilityResponsibility
Chelsea HulseChelsea HulseDavid FurjanicDavid Furjanic
Naomi GunawardenaNaomi Gunawardena
Introduction Corporate responsibility – the ethics of a
business Business definition
Responsibility to the government and to general public
Go beyond requirements of regulators and environmental groups
Many groups monitor corporate responsibility
Social, economic, and environmental issues
Introduction (cont.) Green practices – increasing efficiency of
resource use; reducing impact on environment Environment is one of the main focuses of
corporate responsibility
As consumers become more environmentally aware, businesses are working to become “greener” – responsibility
Waste reduction and recycling, green building, energy and water conservation, use of green power, pollution prevention, etc.
Background Term “corporate social responsibility”
originated in 1970’s
Focus on corporate responsibility is still a relatively new area, but becoming “mainstream”
It has become a “multi-billion dollar public relations specialty” (http://www.sourcewatch.org/index.php?title=Corporate_Social_Responsibility)
Background (cont.) Corporate responsibility reports for selected
companies (2008):
Walt Disney Company
Starbucks Coffee Corporation
IBM
Coca-Cola Company
Benefits for the Business
Reduces resource use, waste and emissions: helps environment and saves money
Good reputation: easier to recruit customers and employees.
Helps the business comply with regulatory requirements.
Involvement with the local community generate positive press coverage.
Good relationships with local authorities make doing business easier.
Understanding the wider impact of the business can help it develop new products and services.
Benefits for Us Builds trust between
companies and stockholders, which is good for the market
The environment is protected
Consumers can express their views by choosing a company that has “green practices”
Blackle is an example of a green practice. This black version of
Google saves energy every time you use it!
Cons Sometimes purely a
marketing strategy
CSR not legally enforceable
Corporate citizenship vs. CSR
Fraud
Opinions Good initiative but needs right motives
Is it manager’s duty?
Sources http://www.cartoonstock.com/newscartoons/cartoonists/cca/lowres/
ccan154l.jpg
http://www.delegatesource.com/images/corporate-social-responsibility.gif
http://crs.sagepub.com/cgi/reprint/34/1/51
http://www.wisegeek.com/what-is-corporate-responsibility.htm
http://www.investopedia.com/terms/c/corp-social-responsibility.asp?&viewed=1
http://en.wikipedia.org/wiki/Corporate_social_responsibility
http://dictionary.bnet.com
Eds. Kakabadse, Andrew and Mette Morsing. Corporate Social Responsibility. New York: Palgrave, 2006.
Orsato, Renato J. Sustainability Strategies. New York: Palgrave, 2009.