It is the corporate plan to assess and take liability for the organization’s effects on the environment and impact on social welfare. It’s basically a company's commitment to values that benefit society in addition to itself and its shareholders. It includes procedures that support community services, giving to charity, fair trade, environmental protection, as well as equitable business dealings with customers, employees and business partners. It’s important for persons to understand that CSR is not charity. It is generally about how companies earn their profits.
And the consumers tend to switch to another company, if a company provides the equal quality and price. Therefore, corporate social responsibility is the basis and priory which can obtain productivity and creativity returns. As the director of Sustainability at the Verdigris Group, Thorpe (2013) indicates that Verdigris Group lays high emphasis on corporate social responsibility in order to facilitate the triple bottom line approach to achieve organization’s goal. It prefer to the certified carbon-neutral business rather than any other business. Furthermore, it benefits from the corporate social responsibility.
Corporate Social Responsibility (CSR) in the corporate event sector can be for everyone operating in this sector a basis for innovations, opportunities and competitive advantages with regard to social, environmental and economic aspects. This essay deals with the question what CSR is and how it influences the corporate event industry in the UK, as well as with the strategies companies have to do to generate a sustainable company structure and how they can advise their workforce to improve responsibility. Furthermore, the right communication of a CSR company structure is an essential aspect and how it has negative or positive effects on the people. The Global aspect of CSR is also interesting with regard to the corporate event industry and the implementation of the ISO 20121. In the last year, Corporate Social Responsibility became a very important part for the operators in the corporate event sector.
Formal (rules and regulations) and informal institutions demand for better environmental and corporate social responsbility from firms. As a result, sustainability has become a key focus for multi national enterprises as it enabled companies to achieve better organizational performance. One of the Human Resources Management(HRM) function consists of assisting in creating and implementing sustainability strategy in various ways. Human Resources(HR) ensures that the employees of a global firm implement the strategy consistently across the globe. A sustaniable human resource management uses various methods and tools to create a global worksforce that trusts the organization and its strategies towards the global sustainability.
While BHP Billiton being a participant to a number of voluntary agreements on human rights and implemen... ... middle of paper ... ...ds the environmental reports, sustainability reports- its role towards the society, Employees, resources and reserve current conditions. The company has successfully played the role of CSR by providing internal as well as external assurance to stakeholder groups by perfect disclosure of its action and its effect towards environment through “Corporate Governance Statement” in its annual report. According to BHP Billiton Annual report 2013, “our purpose is to create long-term shareholder values through the discovery, acquisition, development and marketing of natural resources”. It focuses on creation of values, targeting on Sustainability, Integrity, Respect, Performance, Simplicity and Accountability. The company aim to get successful relation between company’s stakeholder by incorporating updated social and environmental accountability.
Examples of Stakeholder’s could be: managers, directors, employees etc. It is based upon a conceptual framework approach in which it provides moral and ethical values to a business organisation. When in practice, majority of organisations are mainly going to focus on corporate social responsibility. The reason for this is because CSR is seen to have a big impact on the firm as many people are recognising that there is a increasing number of businesses that are both socially and environmentally friendly. On the other hand, if the government doesn’t intervene with companies in terms of both regulation and legislation, this means that firms will only be concentrating on the accounting figures.
How an organisation approaches the social and environmental impacts of its business operations and its voluntary contribution to the wellbeing of the global and local communities in which it operates, is often known as Corporate Social Responsibility (CSR); it is often about "doing ethical things". Ethical and socially responsible practices are important in relation to various aspects of organizational effectiveness such as quality,communication, profits, competitiveness, survival, efficiency, and stakeholder satisfaction. Based on past literature that emphasizes cultural factors, corporate culture, and individual characteristics, the cross-cultural variation in marketers perceived importance of ethics and social responsibility in achieving organizational effectiveness is explained by country differences (including cultural differences and differences in the economic environment), organizational ethical climate, and selected demographic characteristics of individual marketers.
Corporate social responsibility (CSR) is similar to an individual’s social responsibility. An individual who is socially responsible is aware of how their decisions affect the environment. Corporate social responsibility can be define as “how well a company meets its economic, legal, ethical, and discretionary responsibilities” (Peter & Sarah, p. 51). Corporate social responsibility holds businesses accountable to stakeholders such as consumers, in areas of concern such as environmental factors, community and society in general. As a result successful CSR initiatives creates a sustainable company in all ways: financially, ethically, environmentally, and socially.
Corporate social responsibility is generally known by Western countries as a desire of a corporation to contribute to stakeholders beyond their duty, to be specific, the manner of treating the employees, the extra benefits for the customers and community in general. In addition, it is also corporations’ wish to maintain environment situation, treating and recycling waste as well as using natural resources appropriately, and to improve society conditions, increasing social welfares and doing community services. According to Ricky and Michael (2013), CSR can be understood as the obligations to serve the stakeholders, the environment, and the society. In Asia countries, business people also apply CSR but in a different way based on a set of belief, norms, moral value built in religion or ancient philosophy. In particular, it is the way of living, behaving and treating other people in order to be a good person, or to be respec... ... middle of paper ... .../s10551-010-0452-y Skudiene, V., & Auruskeviciene, V. (2012).
Sustainability is a crucial social responsibility as it is linked with the business and how they enact on making effective resources that are eco friendly and ensuring that the future generation will be able to enjoy a healthy lifestyle. The Tata Steel definition of sustainability is ‘an enduring and balanced approach to economic activity, environmental responsibility and societal benefit’. With the notion of sustainability widely promoted by governments, businesses, NGO’s and academia, it is clearly vital that society understand its full implications and evaluate business ethics practices at least according to their potential to contribute to sustainability. The Managing corporate citizenship and sustainability in the age of Globalisation second edition Andrew Crane Dirk Matten, portrays a reliable source on a Sustainability Report which was undertaken in 2005 studied on Nokia which describes the statement they made