1. Introduction:
Recently, many organisations and countries are trying to prevent the pollution and its bad impacts to human. In order to make that project be more realistic and effective, the European Union has offered a prize called ‘European Green Capital Award’. The main purpose of this award is to find a true green economy model and encourage other cities to improve the quality better. Bristol has received this recognition for 2015 due to its project to protect the environment and investment suitably. The project is based on both people’ consideration and the successful implication of Triple bottom line. However, the small and medium enterprises in Bristol also play an important role in contributing to the prize of this city. Therefore, Bearpit Social - a small coffee shop, which has been applied the business concept to have a suitable development plan as well as help Bristol develop more comprehensively. This report was written to help organisations understand more clearly about the Triple bottom line and how to implicate to improve the business operation in the most effective way.
2. Triple bottom line and its impacts:
2.1: CSR, Triple bottom line and Sustainability:
Corporate Social Responsibility (CSR) is a management concept which includes the set of policies, practices and programs that refers to the business actions, decision-making processes in order to maximise the positive impacts of its operations on external factors. The core content of CSR is the responsibility of the organisations in their business activities to not only the owner but also a wide group of stakeholder (customers, employees, suppliers and government). It is also related to the management of corporate citizenship and social responsibility problem....
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...4(2), 243-262.
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Web source:
What is CSR? http://www.unido.org/en/what-we-do/trade/csr/what-is-csr.html
Corporate social responsibility (CSR) is a when a firm goes beyond compliance and engages in “actions that appear to further some social good, beyond the interests of the firm and that which is required by law” (McWilliams, Siegel & Wright, 2006)...
Boatright (2006) contend that corporate social responsibility denotes the responsibility recognized by a company for acting in socially responsible manner. There is no single universally accepted definition of corporate social responsibility, it has generally come to mean business decision making linked to ethical values, legal compliance, and respect for people, community, and environment. CSR accepts a company to go further than required by law so as to treat employees fairly and with respect, operate with integrity and in an ethical manner in all its business dealings with customer, suppliers, lenders, and others, respect human rights, sustain the environment for future generations and be a responsible neighbor in the community and a good ‘corporate citizen’. Hill (2009) asserts that corporate social responsibility has become a challenge which MNCs face in emerging markets. Galbreath (2009) support the view of Hill (2009) by saying that with increase in globalization, the importance of corporate social responsibility has increased a lot.
Hohnen, P. (2007). Corporate Social Responsibility An Implementation Guide for Business. Winnipeg: International Institute for Sustainable Development. Retrieved January 22, 2014, from http://www.iisd.org/pdf/2007/csr_guide.pdf
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.
...nternational Business Report (2008). Corporate Social Responsibility: a necessity not a choice, Grant Thornton. http://www.internationalbusinessreport.com/Reports/Focus-reports/Corporate-Social-Responsibility.asp
Corporate Social Responsibility (CSR) is the set of regulations that an organization makes to protect and increase the society in which it functions. There are three areas of social responsiblity: Organizational stakeholders, the natural environment and general social welfare.
The term Corporate Social Responsibility refers to a company’s responsibility to provide a benefit to the society the company affects. Corporate social responsibility incorporates dimensions of corporate responsibility, and corporate policy which include a company’s policy to hire minority or disabled workers, or taking a stance on social and political issues that benefit the community. The social portion of corporate social responsibility includes corporate charitable business contributions and expands on this common social business practice by invoking corporate social initiatives. For example, as a policy, Wal-Mart grocery store managers purchase as much produce and goods from local farmers and distributors they can as opposed to relying on national food distributors. This example of a corporate social initiative provides a greater benefit to the economy of the society surrounding Wal-Mart stores than if Wal-Mart made only charitable contributions to a food bank within the local area. Environmental responsibility is a business’s responsibility to decrease its carbon footprint and produce green products. The trend to produce green products has come into effect since global warming has become a greater concern in the world over the past decade. Reducing the carbon footprint and making green products may increase a company’s cost, but the company can charge more for its products and services to offset the increased cost. Nickels, J. McHugh, and S. McHugh give an example of the Ciba Specialty Chemicals Company, a Swiss textile dye manufacturer who charges more for its dyes than other dye companies because Ciba’s dyes “require less salt than traditional dyes”, and are therefore more expensive to produce (Nickels, J McHugh, S...
Corporate social responsibility (CSR): is a business method that gives back to the community through sustainable development by delivering economic, social and environmental benefits for all
Corporate social responsibility (CSR): is a business method that gives back to the community through sustainable development by delivering economic, social and environmental benefits for all
Vogel, D., 2005. The market for virtue the potential and limits of corporate social responsibility. Washington, D.C.: Brookings Institution.
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...
Norman, W., & MacDonald, C. (2004). Getting to the bottom of the "triple bottom line". Business Ethics Quarterly, 14(2), 243-262. http://dx.doi.org/10.5840/beq200414211
While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. 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.” But such a concept has been much disputed since at least the 1970’s.
Bowie, (1991) New directions in corporate social responsibility - moral pluralism and reciprocity, Business Horizons, 34, 4 pp.56-65
Now-a-days it is considered that CSR is one of the major concerns of organization’s business ethics. Companies increasingly increase their corporate social responsibility (CSR) and ethical management accepting the positive impact on the bottom line. The vast bulk of Standard & Poor’s 500 companies publish sustainability reports unfolding their program challenges and achievements. These pre-emptive efforts can pr...