Analyze the challenges and solutions organizations in Trinidad and Tobago might face in the design and implementation of a functional Corporate Social Responsibility policy According to The World Business Council for Social Development, corporate social responsibility (CSR) is the continuing commitment by businesses or organizations to behave ethically and contribute to sustainable development while improving the quality of life of the workforce and their families as well as of the local community and society at large. Moreover, CSR and the need for the design and implementation of a policy has spread geographically from its original US setting (Bowen, 1953) to become a global concept (Matten & Crane, 2005; Scherer & Palazzo, 2007), including organizations in the Caribbean. A CSR policy design and implementation could be considered to be an organizational change process or a new way of organizing and working (Dawson, 2003). There is no preeminent way to bring about change, and the specifics of the context will help to ensure the change functions to be beneficial to society and supported by appropriate mechanisms (Burnes, 2004) and the profit generating organizations are generally the users of CSR. Therefore, it requires managers to understand and be actively aware of both the context and expectations. In addition, recognize that any changes the design and implementation will shape the environment (Mitleton-Kelly, 2003). in Trinidad and Tobago, organizations may face challenges which the Lewin three step model change theory lists such as unfreezing, moving, and refreezing and seek solutions such as raising CSR awareness inside the organization, assessing current CSR status, be communication about CSR commitments and performan... ... middle of paper ... .... "Corporate Citizenship: Cultural Antecedents and Business Benefits." Journal of the Academy of Marketing Science (1999): 455– 469. . Print. Mitleton-Kelly, E. Complex systems and evolutionary perspectives on organizations: the application of complexity theory to organizations. London: Elsevier, 2003. Print. Robertson, D. C. "Corporate Ethics Programs: The Impact of Firm Size." Harvey, B., Van Luijk, H., & Corbetta, G. Market Morality and Company Size. The Neteherlands: Dordrecht, 1991. 119-136. Print. Sharma, Anupam and Ravi Kiran. "Corporate Social Responsibility: Driving Forces and Challenges." International Journal of Business Research and Development (2013): 18-27. Print. Uniliver Sustainability Devopment Report. 2006. web. 21 ST March 2014. Wilson, D. A Strategy of Change: Concepts and Controversies in the Management of Change. London: Routledge, 1992. Print.
By incorporating corporate citizenship into the company it is no longer an additional “nice thing to do” or something made to obey laws or regulations. Instead, corporate responsibility has become something business leaders and workforce want to engage in, frequently because executives who believe in the long-term see business profit. The four types of social responsibilities a... ... middle of paper ... ... te Citizenship. (2011).
In response to the brief presented case study, Company Q has stores in high crime areas, and has chosen to close these stores citing above average losses because of shrinkage or theft by both customers and employees.
In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many purposes for this essay, the first purpose is to descried the key principles of corporate social responsibility and explain their importance for stakeholders. Secondly, is to show how far this company follows those principles in order to be accountable to at least three of its stakeholders. In this essay, three stakeholders, environment, customers and employees will be evaluated respectively and the key principles of the stakeholders will be examined.
I chose to look into General Electric for this project because they are an energy supplier and multi-national company. Energy providers have a reputation as a money hungry companies that care about the bottom line more than people and the planet. It is easy for a person to assume that a corporation of GE’s size, money would be its only concern. What I learned was that GE has a public image problem more than a Corporate Social Responsibility (CSR) problem. The company has been working to make the people of the planet more Earth friendly by creating technology that has higher efficiency with fewer emissions and lower resource demands. GE has a well-established strategy for Corporate Social Responsibility. As a result of CSR the company has reaped profit benefits as well as a perceptibly better company image. It was with great expectation that I chose GE in the hopes to find an area that a global energy supplier would need improvement. I found that GE is within the top-10 of companies that demonstrate CSR. GE shares this distinguishment with other companies such as Patagonia, Nike and General Motors. Besides continuing the course they have started, GE could further add to their repertoire by providing roadmaps for other companies to follow in order to be a business with demonstrable CSR.
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.
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The problem that was investigated consisted of a question that Milton Friedman posed in one of his articles, which was featured in The New York Times Magazine in 1970. The question was, “What does it mean to say that “business” has responsibilities” (Friedman, 2007, p. 173)? Friedman (1970) elaborated on how businesses cannot have assigned responsibilities. Furthermore, he described how groups or individuals should be the only ones that can hold responsibilities, not businesses. He stated that associating responsibilities with the word business is too ambiguous. I will examine three discussion questions and three compare and contrast questions which Jennings (2009) posed in a case study that is related to Friedman’s (1970) article “The Social Responsibility of Business is to Increase its Profits”.
A corporations CSR should be shaped in order to fit the goals of the corporation, although every corporation’s CSR should differ, since most have different goals and different communities behind them. The CSR should be molded into fitting the corporation’s goals in order to make it easier on the corporation in giving back to the community while achieving its goals. For example, a corporation located in a desert wishes to be more efficient, by reducing water usage it is not only creating lower costs, which result in higher revenue, but also helps the community by not taking up so much water. Taking this into consideration, it is critical that the corporation goals and values are established and clear throughout the corporation, they should be developed by the board or directors and CEO, and the highest managerial level should stress their importance to the rest of the corporation. By making the goals and values at the top branch of the corporate hierarchy, it will be simpler for the corporates community to develop in order to nurture those goals and values. Therefore, a corporation can reach the “shared-value,” a value for both its shareholders and community in a simpler manner that can result benefiting the corporation in the end as well. Throughout the article many examples are given of actual corporations that have benefited and changed their CSR in order to fit their goals, therefore, providing solid proof that these methods work. Nevertheless, as acknowledged by the author’s themselves, most of the corporations taken into consideration where one’s that Harvard CSR students were employed
Business organizations regularly run into demands from various stakeholders groups when conducting day-to-day business. These demands are generated from employees, customers, suppliers, community groups, governments, and shareholders. Thus, according to Goodpaster, any person or group of people that can shape or can be shaped by attainment of the objectives by an organization is considered a stakeholder. Most business organizations recognize and understand their responsibilities to these groups and endeavor to honor and fulfill them. These responsibilities are often communicated to the public by a statement of principles or beliefs. For many business organizations, corporate social responsibility (CSR) has become an essential and integral part of their business. Thus, this paper discusses the two CSR views: the classical view and the stakeholder view. Furthermore, I believe that the stakeholder view has brought ethical concerns to the forefront of businesses, and an argument shall be made that businesses would improve both socially and economically if CSR, guided by God’s love, was integrated into their strategic planning.
Masaka, D (2008) Why forcing corporate social responsibility is morally questionable, Electronic Journal of Business ethics and organizational studies, 13, 1 pp. 13-21
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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...