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Winning Strategies Part II

Winning Strategies Part II. Team B3: Paula Urrego-Riveros David Ibagon Lydia Duro-Emanuel Sabrina Tsai Chi-Wen Shih Nazish Leghari. Corporate Social Responsibility (CSR).

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Winning Strategies Part II

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  1. Winning Strategies Part II Team B3: Paula Urrego-Riveros David Ibagon Lydia Duro-Emanuel Sabrina Tsai Chi-Wen Shih Nazish Leghari

  2. Corporate Social Responsibility (CSR) “The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” Source: WBCSD, 1999

  3. Enablers Results Learning, Creativity and Innovation CSR in EFQM model Source: EFQM, 2010. P9

  4. Different types of CSR • Economic responsibility. • Legal responsibility. • Ethical responsibility. • Philanthropic responsibility. Source: Carroll, A.B. (2000) Pp. 187-91

  5. Evolution of CSR Source: Halal, W.E. (2000) Pp. 10-16

  6. Corporate Community Model Source: Palazzi, M. & Starcher, G., (1997)

  7. CSR Framework Source: Castka, P., Bamber, C.J., Bamber, D.J. and Sharp, J.M. (2004)

  8. CSR Advantages • Build a strong corporate reputation • Contribute to overall business goals • Attract and retain a motivated workforce • Reduce operating costs • Reduce regulatory oversight • Support marketing objectives • Build a strong community relationship • Leverage current corporate social initiative efforts and investments Source: Alexander K. Nussbaum (2009)

  9. Criticisms of CSR • Stifles primary purpose of the business. • Favors the interest of the business over legitimate concerns, demands and expectations of the society. • Too narrow in focus and does not address the key aspects of the business-society relationship today. • It’s failing to achieve its objectives due to poor approaches. Blowfield M., Murray A. (2008), Pg. 340.

  10. Different Views of CSR Source: Mostovicz, I., et. al. (2009)

  11. WaveRiders Goals • Increase market share in Europe by 40% in 5 years. • 85% customer satisfaction in 5 years. • Engagement of employees in 5 years. • Engaging with the community. • Reducing carbon footprint by 15%.

  12. CSR Plans for Sustainability

  13. Relation between goals and values for WaveRiders

  14. Conclusions • CSR is an important element of excellent organizations. • The EFQM model provides a framework to embed CSR initiatives in an organization. • To improve continuously CSR should be reviewed.

  15. References • Blowfield M., Murray A. (2008) “ Corporate Responsibility: A Critical Introduction” New York: Oxford University Press. Pages 340. • Carroll, A.B. (2000), “The four faces of corporate citizenship”, in Richardson, J.E. (Ed.), Business Ethics 00/01, Dushkin/McGraw-Hill, Guilford, CT, pp. 187-91 • Castka, P., Bamber, C.J., Bamber, D.J. and Sharp, J.M. (2004), “Integrating corporate social responsibility (CSR) into ISO management systems – in search of a feasible CSR management system framework”, The TQM Magazine, Vol. 16 No. 3, pp. 216-24 • Galbreath, J. (2008). “Building Corporate social responsibility into strategy”, European Business Review, Vol21 No.2 pp109-127 • Mostovicz, I., Kakabadse, N. and Kakabadse, A. (2009), "CSR: the role of leadership in driving ethical outcomes", CORPORATE GOVERNANCE, Emerald Group Publishing Limited, VOL. 9 NO. 4, pp. 448-460 • Palazzi, M. & Starcher, G., 1997, CORPORATE SOCIAL RESPONSIBILITY AND BUSINESS SUCCESS • Thanaraksakul, W. and Phruksaphanrat, B. (2009), “Supplier Evaluation Framework Based on Balanced Scorecard with Integrated Corporate Social Responsibility Perspective “, Proceedings of the International MultiConference of Engineers and Computer Scientists, Vol.II, Hong Kong • Tonya R. Hargett and Marcia F. Williams (2009), Wilh. Wilhelmsen Shipping Company: moving from CSR tradition to CSR leadership, CORPORATE GOVERNANCE, Emerald Group Publishing Limited, VOL. 9 NO. 1, pp. 73-82 • World Business Council for Sustainable Development (WBCSD) (1999), Corporate Social Responsibility, WBCSD, Geneva.

  16. Appendix 1

  17. Appendix 2. Implementation of CSR CSR Goals Hoshin Kanri and CSR

  18. Leadership of Practicing CSR • How leaders and organizational members understand CSR; • How leaders develop their personal CSR perspectives; • How well-articulated and broadly implemented are CSR values and strategies; • What leadership practices are used to successfully execute CSR strategy; and • What challenges have been faced along the way and how the organizations respond to those challenges. Tonya R. Hargett and Marcia F. Williams (2009), Wilh. Wilhelmsen Shipping Company: moving from CSR tradition to CSR leadership, CORPORATE GOVERNANCE, Emerald Group Publishing Limited, VOL. 9 NO. 1, pp. 73-82

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