Corporate Social Responsibility (CSR, And Corporate Social Investment

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Rationale/Executive Summary: Corporate Social Responsibility (CSR) and Corporate Social Investment (CSI): CSR is more than being ethically correct through things like honesty and correct procedures for business related tasks. It can be defined as: “management’s obligation to protect and promote the welfare of all stakeholders (financially or otherwise)”. CSI is then the actual capital and resources that are invested into these projects to help. I have chosen this topic because I believe that both CSR and CSI are incredibly important part of a business, not only to the people that the projects may help, but also to the business as a whole. These projects, if done correctly can have a positive effect on the business as a whole as it provides good publicity, boost in morale and many other positive effects. Business Reports: Article 1: Enhancing Business-Community Relations (Pick’nPay Case Study) Summary: This article was written by Jean Niyonzima in September 2003. In the article, Niyonzima discusses how Pick’nPay and its’ HIV/AIDS Programme has brought the community closer to Pick’nPay as well as the benefits to the community that the programme has brought. The article speaks of the South African economy would have been “severely” effected by HIV/AIDS if things were not done to help the problem. This problem would not only cause a lower life expectancy, but also a drop in the South African GDP. Niyonzima next discusses Pickn’Pays company profile. She talks about Raymond Ackerman and how he started the PNP chain. She mentions how many PNP stores there were countrywide (when the article was written in 2003). The article then discusses the HIV/AIDS Programme. PNP’s program was started in the 1980s when very few compa... ... middle of paper ... ...s and dealings. 9. Dividends: a sum of money a company pays regularly to its shareholders. 10. NGO (Non-Governmental Organisation): companies, or businesses with the sole purpose to not make a profit but instead help out in an area that needs it. 11. Legislation: the process of creating or following laws. 12. King Report: a report that recommends a standard of conduct for the directors of companies and it encourages the need for social responsibility for the societies that surround the companies. 13. Self-sustainability: being able to take care of yourself financially and have a decent standard of living for the foreseeable future. 14. Inflation: a general raise in the prices of goods and services and a decrease in the value of money. 15. Triple Bottom Line Reporting: Taking (people, price and planet) social, economic and environmental factors into consideration.
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