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Corporate Social Responsibility

An introduction to utilising and maximising benefit of Corporate Social Responsibility. Corporate Social Responsibility. Zoe Chilton LLB, MSc WMG 02/02/12. Introduction. MSc in Engineering Business Management at WMG (grad 2011)

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Corporate Social Responsibility

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  1. An introduction to utilising and maximising benefit of Corporate Social Responsibility Corporate Social Responsibility Zoe Chilton LLB, MSc WMG 02/02/12

  2. Introduction • MSc in Engineering Business Management at WMG (grad 2011) • Project with a leading F1 team, investigating CSR and writing their corporate policy • Currently work for the Motorsport Industry Association

  3. Overview • The tricky part.. Definition • CSR • Corporate Governance • Different approaches to CSR • CSR and profitability • Relevance to industry • Employee satisfaction • The ‘bottom line’ • The future of CSR

  4. So.. Just what does CSR mean?

  5. CSR and Corporate Governance

  6. There is no correct definition…

  7. How to approach CSR • Active or Reactive? • What type of sustainability? • Environmental • Social • Economic • Stakeholders or shareholders? • Appropriateness to your industry and corporate identity • If existing definitions don’t fit, make your own!

  8. Different approaches to CSRExamples from Motorsport…

  9. Key contributors to a modern sustainable business

  10. How this translates to activities • Social Sustainability: • Involvement in education • Social welfare campaigns • Involvement in the local community • Global charitable causes • Environmental Sustainability: • Reducing carbon footprint • Designing for the environment • Greening manufacturing processes • Economic Sustainability: • You are not running a charity! • All activities must be economically viable

  11. How CSR contributes to the Bottom Line • CSR is highly valued by shareholders and investors as it often goes hand in hand with good Corporate Governance • Customers like to see good CSR and may choose your product because of it • CSR activities can be used to develop new markets • It is easier to recruit and retain the best employees with a good CSR policy

  12. Now it’s your turn…

  13. Winners and losers of CSR

  14. The future of CSR? Zadek’s Generations of Corporate Responsibility – This shows the evolution of CSR within companies and industry sectors

  15. …But you don’t have to take CSR too seriously. Utilise your core competences and engage in an appropriate way.

  16. Thank you.. Any Questions?

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