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Corporate Social Responsibility

Corporate Social Responsibility. (AKA): CSR, Corporate responsibility, corporate citizenship, responsible business, sustainable responsible business, or corporate social performance. What?!.

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Corporate Social Responsibility

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  1. Corporate Social Responsibility (AKA): CSR, Corporate responsibility, corporate citizenship, responsible business, sustainable responsible business, or corporate social performance

  2. What?! • Corporate Social Responsibility is a business model whereby a company/firm freely decides to make employee benefits, humanitarian outreach +/or environmentally sustainable practices an integral it’s overall business strategy • Companies that employ the CSR model are proactive in adhering to more stringent standards than the law requires. • CSR values the “Triple Bottom Line” • People, Planet, Profit

  3. Get With The Lingo • Stakeholder – distinct from a traditional shareholder, an individual who is affected by the company’s actions. • For example, the company employees and members of the community in which the company operates. • Business ethics – examines ethical and moral issues that arise in the operation of companies. • The marketplace of the 21st century is increasingly aware of and demanding about business ethics • Can you name some Green, Fair Trade or Organic products

  4. Approaches to CSR • Ethical Training For Employees • Employee Benefits/ Community Building • Supply Chain Awareness • Human and Environmental Effects • Product/Service Effect • Humanitarian or Environmental Projects • Local or Abroad

  5. Positive Aspects • Many companies expect the rate on investment (ROI) within 24 months, where ROI is how much profit or cost saving is realized and is often used to judge how well the company is managed • Businesses should receive returns comparable to businesses without the use of green practices with the addition of being more environmentally friendly • Corporations with green practices look good to others and may encourage people, such as the workers, to be more green with their own lives • The average cost of a green building is not much more than the average cost of a traditional building, especially with the cost savings over time; however green buildings produce more positive consequences with reduced environmental impact

  6. Positive Aspects Continued… • There is an increasing number of people deciding to bring their business to eco-friendly companies • Changing a few small habits can go a long way: individual who is affected by the company’s actions. • High-efficiency light bulbs cost 75% less to run than standard light bulbs and will last 10 times longer • Reverting to e-mails as much as possible instead of both faxes and e-mails can save money; a company with 30,000 employees sending and receiving an average of two pages per day can save over $2 million per year

  7. Works Cited Boyes, Jennifer. “Why Businesses Are Going Green: The Benefits of Becoming an Eco-Friendly Corporation.” Suite101.com. 17 Mar. 2008. Web. 22 Sept. 2009. <http://green-business-practices.suite101.com/article.cfm/why_businesses_ are_going_green>. Brophy, Sarah S. The green museum: a primer on environmental practice. Lanham, MD: Altamira, 2008. Print. “Corporate Social Responsibility.” Wikipedia: The Online Encyclopedia, 26 Sept. 2009. Accessed 26 Sept. 2009. <http://en.wikipedia.org/wiki/Corporate_social_responsibility>. “Hydropoint Survey: “Going Green” Offers Opportunity for Significant Financial and Environmental Gains in Economic Downturn.” The Corporate Social Responsibility Newswire. HydroPoint Data Systems, Inc., 12 Nov. 2008. Web. 17 Sept. 2009. <http://www.csrwire.com/ press/press_release/ 14657-Hydropoint-Survey-Going-Green-Offers-Opportunity-for-Significant-Financial-and-Environmental-Gains-in-Economic-Downturn>.

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