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nature and concept of corporate social responsibility
nature and concept of corporate social responsibility
interpretation and implementation of corporate social responsibility
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The last dimension discussed is the environment. The scores for environment are quite close and even exceed that of other sustainable businesses. Jury (2015) indicated that Michaels Stores Inc. is an arts and crafts store, most of their products are made from paper and there might be other products that contain substances that will be harmful to the people if not properly disposed. Therefore there is a facility where products from paper and cardboard are disposed of properly. Also there is a company that comes in to take away harmful chemicals and dispose of them accordingly. First and foremost, it is important to note that Michaels Stores, Inc. does not measure or publish any CSR reports even at the corporate level, this therefore makes it …show more content…
In order to successfully implement CSR in the store, the following recommendations has to be taken into consideration: An important factor for the successful development of a CSR framework at the corporate level is to ensure that the framework can be easily merged with the daily routines of the store. In the Siemens case that was studied in class, putting the company back in order had to start from the corporate level and with the individual in charge of corporation – the CEO. Therefore, in order to implement CSR at the store, the initiative has to come from the corporate level, however the store here in Nanaimo can assume a key role by developing and testing new CSR practices. The store should also create a mission & vision statement within the next two months to show its CSR directions and what the store hopes to achieve over a certain period of time. The statement should be designed specifically to suit the features of the store & Michaels brand to ensure that it does not fade. It is also important that the mission & vision statement is communicated to the employees in the store and at the corporate level; this will create a certain level of buy-in and interest of other
This trend still endures to this era with its impact on various areas. For that reason, the company has been escalating and documenting its CSR endeavors for the past several years, progressively increasing its strengths to offset any weakness (Lougee & Wallace, 2008). Target’s policy and practices related to ethics, social responsibility, and environmental sustainability provide an opportunity to get an indication of how it determines and fulfills such obligations, as well as the company’s voluntary self-reporting and corporate communications include a substantial amount of material that can be
CSR Handbook for Small and Medium Enterprises . (n.d.). Retrieved January 24, 2014, from Caux Round Table: http://www.cauxroundtable.org/index.cfm?&menuid=104&parentid=16
To expand complete structure of frame work for CSR, organisation must have concern its strategies as how it appears as a corporate citizen (Brook 2012, p. 495). It is important that employee, employer and stakeholders to accomplish domestic and foreign pressure. It is organisations responsibility to maintain customer and subordinates confidentiality and CSR operations. Ferguson & Williams (2015) reported that NAB violated its CSR by faking some customer’s signatures and provided false or poor financial
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.
...oncerns to the forefront of businesses. In this paper I have suggested that business can improve both socially and economically by incorporating and integrating a CSR program, guided by God’s love, into their strategic planning. Strategic planning of CSR creates a mutual beneficial relationship between a community and a business organization. The community wins by having a business that is sensitive to their needs and responsive to their concerns, and the business wins by developing competitive advantage in the market that leads to long-term profitability. A business needs to incorporate God’s love when developing CSR policies in order to maintain the trust and the integrity of the relationship with the community. With solid strategic planning coupled with CSR, businesses can set the direction that provides the greatest benefit to themselves and communities.
Corporate social responsibility (CSR), was initiated as companies began look beyond making a profit as their sole purpose existence. Industry leaders understood that relationships are established between their corporations and society and each party has a responsibility towards the other. Therefore, the CSR concept was established over the years. “CSR is about the economic, legal, ethical, and discretionary issues that stakeholders view as directly related to the firm’s plans and actions” (Werther, Chandler 2001, p. 9). This review of the case study on “The Body Shop” will focus on organizational
Business Responsibility consists of three main aspects to be considered which are profit, society and environment. A way of operating business with responsibility does not only act strategically and manage a business ethically, but to achieve long-term sustainability. Investing in such activities that mainly focus on communities, such as improving quality of life and developing people’s potential, which these might also be another interesting option of using CSR to become successful in business. Business and society belong together; if strong society and well living people merge, of course, those will drive business in that society to move towards a better position. Since business is a part of society, it needs support from people who are consumers. On the other hand, despite the fact that CSR is receiving much attention globally, it has become a trend in business. CSR objectives might distort and turn to be a new tool for social marketing.
CSR has become a significant part of the construct of any successful business, there are a multitude of facets that are necessary and have a true significance. One must acknowledge the importance of social responsibility. To overlook the significance of CSR would be jeopardizing the functionality of a business, it would also deteriorate the stability of trust in an organization not simply just between customer and business; there too could be a breakdown in this important relationship between stockholders and other significant entities within an organization. Implementation of a sound CSR construct can also help to protect a business from negative and damaging
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....
The importance of Corporate Social Respon-sibility (CSR) and elaborate on its possible advantages and disadvantages for corpora-tions.
2. What are the six main characteristics of CSR? How do definitions of CSR vary around the core characteristics?
Using CSR can help your company engage with your customers in new ways. If a company is using a good Corporate Social Responsibility, it can often be an easier way to talk to your customers. This is an underused tool for business-to-business company communication.
In order to fulfill this approach and become an organization that is driven by socially responsible awareness, many companies have chosen to stick to a Corporate Social Responsibility (CSR) policy. According to Baker (2004), “CSR is about how companies manage the business processes to produce and overall positive impact on society.” While this definition is quite condensed and to the point, there are various broader and more specific definitions to CSR. Holme and Watts (2000), define CSR as a commitment of a business place...
CSR is the obligation of business to promote and to protect the interest of shareholders.
Corporate Social Responsibility, CSR, refers to an organisation’s sense of obligation and responsibility towards their various stakeholders and environment in which the organisation operates. It is considered to be multi-dimensional as its initiatives vary from voluntary partnerships to mitigate environmental impacts, production methods through practicing sustainable business practices such as waste and pollution reduction and promoting stakeholder engagement through conducting social and educational programs (Turker, Duygu. 2009). It can also be used as a strategy to create reputation and brand recognition.