Corporate approaches to responsible business

You May Also Like. How does the fair trade movement fit together with the triple-bottom-line theory of corporate responsibility? This is not only good for your company image, it also helps build a positive company culture with good morale and high productivity.

A few will convert into the next Google, Apple, and Microsoft. Regardless, corporate social responsibility means every business holds four kinds of obligations and should respond to them in order: Even small companies benefit from aligning with philanthropic causes.

Bimbothe largest bakery in Mexicois an excellent example of this theater. Now there are large sets of issues that need to be confronted and managed outside of, and independent of the struggle for money.

Instead of starting with a business and looking out into the world to see what ethical obligations are there, stakeholder theory starts in the world. Each of the three discussed theories—corporate social responsibility, the triple bottom line, stakeholder theory—can be fit into the movie A Civil Action.

Key Takeaways Corporations may have obligations that go beyond generating profits and include the larger society. The same goes for community politicians who perhaps would see increased tax revenue as a positive effect of high corporate profits. It also calls for investing in employee work conditions such as health care and education which may enhance productivity and retention.

This is characterized as the "soul" of a company, expressing the social and environmental priorities of the founders. February Learn how and when to remove this template message Appropriate CSR programs can increase the attractiveness of supplier firms to potential customer corporations.

What is Corporate Social Responsibility? This focus includes contributions of time and money, a duty to provide environmentally friendly products and services, and a desire to improve the lives of individuals here and around the globe.

The legal responsibility to adhere to rules and regulations. Next, what about workers in town? The company would keep its records open to the public. These companies make a point of following the law to ensure that others cannot take legal action against them. Microsoft works closely with the Bill and Melinda Gates Foundation to bring technology to communities around the world.

These initiatives serve as a potential differentiator because they not only add value to the company, but also to the products or services. This program provides critical school readiness resources to underserved communities where PNC operates.

Consequently, the field of business ethics has mainly concerned conflicts and dilemmas erupting inside the company as people try to work together to win in the very competitive economic world. In Woburn, Massachusetts, W. This is important for companies that want to be viewed as ethical. The business case for CSR [79] within a company employs one or more of these arguments: They also promote local agricultures in over 2, independent farms to maintain their line of sustainable organic produce.

Give employees the opportunity to help a local school plant trees or work with the city council on addressing homelessness in the area. A local car wash might offer schools a platform to host fundraisers for sports teams.

Philanthropic Efforts The largest companies in the world are aligned with philanthropic efforts. They do not try to manipulate or falsely advertise to potential consumers.

Critics dismiss these reports as lip service, citing examples such as Enron 's yearly "Corporate Responsibility Annual Report" and tobacco companies' social reports. Overall, Target annually contributes 5 percent of its profits to local communities.

Focus on responsibilities that are meaningful and relevant to you, your clients, your employees, and your partners.

Four Types of Corporate Social Responsibility

A CSR program can persuade governments and the public that a company takes health and safetydiversity and the environment seriously, reducing the likelihood that company practices will be closely monitored. Basically, companies create new forms of business to address social or environmental challenges that will lead to financial returns in the long run.

Let them feel like they have a voice.

Transparent reporting

These companies may consider themselves neutral, and they make profits a more important motive than performing actions in a socially responsible way. It also calls for investing in employee work conditions such as health care and education which may enhance productivity and retention.Social responsibility involves taking actions that help advance society.

A socially responsible organization attempts to remain ethical, putting morals ahead of profits. There are four approaches that businesses take in order to be more responsible. Some businesses are obstructive or defensive.

Week 8 Tutorial: Corporate Approaches to Responsible Business (Assessed) Critical Reflection: Question 6 (Shaw et al textbook, pp) Read the Kellogg case before your tutorial and prepare typed answers to the following questions.

corporate social responsibility (CSR) In general, the conviction Three Approaches to Corporate Responsibility This is the theory’s keystone obligation, and it depends on a coherent corporate culture that views the business itself as a citizen in society, with the kind of obligations that citizenship.

View WK7-Corporate Approaches to Responsible Business 1 per page from COMM at University of Wollongong, Australia. Week7Lecture CorporateApproaches toResponsible Business AimofLecture.

Three Approaches to Corporate Responsibility According to the traditional view of the corporation, it exists primarily to make profits. From this money-centered perspective, insofar as business ethics are important, they apply to moral dilemmas arising as the struggle for profit proceeds.

Managing Sustainable Stakeholder Relationships: Corporate Approaches to Responsible Management (CSR, Sustainability, Ethics & Governance) [Linda O'Riordan] on *FREE* shipping on qualifying offers.

This book examines corporate approaches to responsible management by investigating the stakeholder relationships .

Corporate approaches to responsible business
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