Corporate social responsibility is globally defined as operating a business in a way that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. The concern of CSR has drastically increased over the last two decades. It has enhanced interactions between governments, businesses, society and internationally. In the past, businesses primarily focus themselves with the economic results of their decisions. Now, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions. Corporate Social Responsibility is no longer defined by how much money a company contributes to charity, but by its overall involvement in activities that improve the quality of people’s lives. …show more content…
Duke Energy is one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of about 24 million people. The National Wild Turkey Federation Presented Duke Energy the Energy for Wildlife National Achievement Award at the 41st Annual Convention and Sport Show. Duke Energy is a conservation partner of the NWTF’s Energy for Wildlife program, which pursues to enhance wildlife habitat on land owned, managed or influenced by energy companies. Last year, the Duke Energy Foundation granted the NWTF’s Energy for Wildlife program $500,000 to help keep and improve more than 6,000 acres of dangerous habitat across Florida, the Carolinas and Indiana. The benefits from this project endangered pollinators and birds, as well as numerous other wildlife species. Conservation efforts focused on establishing or enhancing habitat on public lands, such as state or national forests, and nearby areas where Duke Energy’s transmission rights-of-way cross large areas of forested habitat. The enhanced habitat conditions will provide cover and a sustainable food source for wildlife, while serving as a protective travel corridor for species that need it …show more content…
There are many different areas in which a company may choose to focus its corporate social responsibility. Duke Energy has demonstrated CSR at high level and received an award for it. Social responsibility investment combines investors’ financial goals with their obligation and dedication to factors that ensure the well-being of society such as environmental friendly practices, economic growth and justice in society; and that is what Duke energy exactly did. These elements are not only aspects of corporate social responsibility, but also a show of the ethical standards of a company. It is unethical for some individuals to own so much and earn so much, at the expense of other suffering members of society. It is also unethical for companies to engage in environmentally demeaning practices that result in illnesses and loss of life and in conclusion Social corporate responsibility and the maintenance of high ethical standards is not an option but an
The United States located electronic company Electrocorp faced the problem of declining profitability due to rising production costs, specifically high wages, costly worker's safety and environmental standards. In order to solve this problem Electrocorp is deciding whether to relocate some of their plants to South Africa, Mexico, or the Philippines.
Lynn J. Good, the chief executive officer, or CEO, of Duke Energy has already made a name for herself in the Utilities industry. On July 1st, 2013, Good took over as the new CEO of Duke. Quickly enough, Good was forced into scandal. Hereafter, Good had to demonstrate her strategic leadership.
On my way out to the beach I still had no idea what I was going to do for my fifth essay. As my surfing buddy and I exited the freeway and entered the town of Morro Bay I saw three giant gleaming smoke stacks surfacing over the top of the hill. As we got closer to the beach the three smoke stacks gave way to a massive power plant that was a mere fifty feet from the water’s edge. It was surrounded by a fifteen foot cement wall and cameras everywhere. I thought what a perfect topic for my paper. As we parked and started to suit up I noticed there was an abundance of strange looking birds all around us. My friend explained to me that the whole area is an estuary preserve that protects endangered bird species.
Electricity production accounts for more than one-third of U.S. global warming emissions, with the majority generated by coal-fired power plants... In contrast, most renewable energy sources produce little to no global warming emissions (“Benefits of Renewable Energy Use”). Coal mining and lumber harvesting would also be reduced by the switch, which in turn would improve the forest and ecosystem surrounding these power plants. Animals will also benefit from the change to clean energy. It is often reported that animals are constantly displaced and injured by the different forms of energy we are using currently. Andrew B. Gill preformed a study and wrote a journal article on the conservation of wildlife and their habitats; the results of his study were conclusive that something needs to be done to change the current state of our energy
In this case, there are two solutions presented to reduce carbon emissions in the air from burning fossil fuels; as a result, it will reduce global warming. In this paper, these solutions and questions related to them are to be discussed and analyzed.
Corporate Social Responsibility is the obligation from corporations to utilize their resources to aid and benefit the larger society. The four components of CSR are economic, legal, ethical, and philanthropic. Social Responsibility is a fundamental force in the wealth creation process. If correctly demonstrated, CSR should heighten competitiveness and boost the value of wealth creation to society. A company's CSR Initiatives directly represent who the company is and what it believes it. The m...
As we learn from the case study, the Lincoln Electric Company is the largest global manufacturer of machines for welding, which are used in all kinds of construction projects. This means that the company has a large global presence and many employees, so its culture affects thousands of its workers. Even though it is now 2014, the company still has a large market share and very satisfied employees, so clearly the culture leaves employees satisfied and motivates them to work hard for the company.
Organizational culture is imperative to the success of the organization. The strength and core values of the organization is supported by the organizational culture. This allows for organization to operate in a specific manner that is specific to that organization and can pave the path for success. Company founders are passionate about their vision and mission and they elude that passion into their employees. When that passion and mission is successfully implied to the employees the company strives in it 's path to success. Founders of companies are the continuing influence for the company to succeed. They pour the foundation of organizational culture so that the vision of their passion is directed in the right path. Organizational culture
According to Mike Peng, Corporate Social Responsibility (CSR) is the consideration and response to issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with traditional economic gains the firm seeks. CSR is a way in which a company seeks to achieve a balance between profit, environmental concerns and social imperatives. This is known as the ‘Triple-Botto...
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
The arguments for and against corporate social responsibility have captured two points of view. Those who believe that organizations should not be concerned about social responsibility base many of their arguments on the costs involved and whether organizations should shoulder those costs on behalf of society. And those who are in favor feel that organizations benefit from society and, therefore, have an obligation to improve it. Although there is no universal agreement, surveys and other reports express that many organizations are, becoming increasingly active in addressing social
As a result of modern corporate scandals and rapid development of international business environments, social responsibility (SR) has become a key aspect of corporate competitive contexts. (Brammer, Williams and Zinkin, 2007). Businesses are under increasing pressure to incorporate SR amongst their profit-driven aims and have become increasingly accountable for their social and environmental actions. Increased interest in CSR developed in the mid 1990s as consumers began to lack their former trust in companies due to both environmental and financial scandals and it became noticeable that society was moving towards values incorporating harmony, quality of life and environmental conservation (Carrasco, 2007) Additionally, major corporate failures over the past two decades have resulted in increased demand for stronger, corporate governance (CG) rules. (Sui, Wright & Evans, 2007). Superior CG rules are needed in order to preserve the integrity of corporations, financial institutions and markets and the health and stability of world economies. (OECD Website)
In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...
A company has an economic obligation. It must earn a favorable return for its stockholders in the restrictions of the law. But, corporate social responsibility means that organizations have also ethical and societal responsibilities that go past their economic responsibilities. CSR needs organizations to develop their documentations of their responsibilities to include other stakeholders such as workers, customers, suppliers, local societies, state governments, international organizations, etc. Ethics could be seen as a fundamental component of individual and group activities at the heart of organizations’ errands.