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Trends in corporate social responsibility
CSR and company performance
CSR is beneficial for business
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Corporate social responsibility (CSR) is gaining its popularity in China. Over the past decade, an increasing number of Chinese companies have begun to produce CSR reports with more overseas companies becoming mindful of their liability in China. These companies either choose to commit themselves to building infrastructures or to promoting a healthy life style. Whatever they do, it is undeniable that such acts do good to Chinese society. In terms of contribution of CSR, based on Chinese situation, CSR will benefit Chinese society for its good in protecting environment, improving the quality of life and cultivating the talented.
Firstly, performing CSR requires companies to bear the environment in their minds. Specifically, reducing the waste and pollution through technical improvement to enhance the environment is an effective practice. In 2007, the Walt Disney Company in Hong Kong decided to run Disneyland trains on biodiesel made from wasted cooking oil from the resort’s hotels. With this decision, 21% gasoline of Hong Kong Disney Theme Park has been saved in 2007 (gongyishibao, 2010).This act led to not only totally disposal of waste cooking oil but also reduction of traditional oil which releases more carbon dioxide when burning. In addition, the firm with CSR will launch environmental-friendly initiatives to raise people's awareness of environmental protection and ecological consciousness. Shaklee, one of the biggest American nutrition companies, launched an activity in Beijing annually from 2009, aiming to encourage people to walk rather than drive for short trips. The number of people who took participate in this activity has increased from 600 in 2009 to 9000 in 2013, showing an increasing awareness among citizen. (China ...
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Corporate Social Responsibility (CSR) is the way a corporation achieves a balance between its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations. In general, when firms hold this wider encouraging role on the public by being engaged with stakeholders, a variety of profit can be produced for both company and the stakeholders. A key inclination is the combination of Corporate Social Responsibility (CSR) into the organization strategy, culture, mission and communications. By incorporating corporate citizenship into the company it is no longer an additional “nice thing to do” or something made to obey laws or regulations. Instead, corporate responsibility has become something business leaders and workforce want to engage in, frequently because executives who believe in the long-term see business profit. The four types of social responsibilities a...
Governmental CSR policies are beneficial for consumers and organizations. Consumers are protected from abuse when organizations adhere to policies set forth by the government. The government has passed laws and created regulations as a guide for organizations to follow for the protection of the environment.
Corporate Social Responsibility is the obligation from corporations to utilize their resources to aid and benefit the larger society. The four components of CSR are economic, legal, ethical, and philanthropic. Social Responsibility is a fundamental force in the wealth creation process. If correctly demonstrated, CSR should heighten competitiveness and boost the value of wealth creation to society. A company's CSR Initiatives directly represent who the company is and what it believes it. The m...
Not only the people it also protect the environment. In my opinion also, when come to the first CSR TOM’S company do, it can be better if company can do one to one not focusing on kids. Focusing also to another group which means focus to the group of veteran, group of disabled person. For the second CSR TOM’S company do, I agree the way TOM’S company do because the group of poor people will be helps when their have the problem of sight. For the third of CSR that TOM’S company do is giving water. TOM’S company just focusing on the several of country, if the TOM’s company be open the all of country it can make the increasing of profit TOM’S company. Because societies see that TOM’S company is a fair when doing the activities
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.
Corporate Social Responsibility (CSR) is about how companies manage their business processes to produce a positive impact on society. Companies introduce new products in markets, usually after testing concludes that the product is safe for use or consumption. It is nearly impossible for a company to truly know all of the potential risks a brand new product may have, even after thorough testing. However, once a company receives reports that its product may be causing harm to consumers, it is their responsibility to conduct more research and tests to rule-out any possible truth in the reports. This is what a socially responsible company would do, one who is preoccupied not only with their bottom-line, but one that is also worried about its customers.
Nowadays, corporate social responsibility (CSR) becomes an integral part of each company. CSR can be understood as a management concept and a process that links social and environmental issues in business operations to a company’s interactions with it’s stakeholders. CSR not only gives the company a chance to help society but also enhances company’s reputation and investors’ attractiveness. In this paper, we will show a brief description about CSR and effects of CSR on international business, including pros and cons when a company applies the CSR program. Besides that, I give my ideas on conflicts of interest beween shareholders and the company’s managers. And then, advantages and difficulties for companies implementing CSR in Vietnam will be defined. Although CSR was first introduced widely in Vietnam many years, it is still a new concept. Therefore, pioneers in this area are facing lots of challenges in running CSR programs in Vietnam.
It will be advantageous for the company if they can project themselves as responsible corporate citizen and an environment friendly company. Social enrichment schemes, recycling schemes and educational funds can be initiated to cater to this cause and long term goal.
A corporations CSR should be shaped in order to fit the goals of the corporation, although every corporation’s CSR should differ, since most have different goals and different communities behind them. The CSR should be molded into fitting the corporation’s goals in order to make it easier on the corporation in giving back to the community while achieving its goals. For example, a corporation located in a desert wishes to be more efficient, by reducing water usage it is not only creating lower costs, which result in higher revenue, but also helps the community by not taking up so much water. Taking this into consideration, it is critical that the corporation goals and values are established and clear throughout the corporation, they should be developed by the board or directors and CEO, and the highest managerial level should stress their importance to the rest of the corporation. By making the goals and values at the top branch of the corporate hierarchy, it will be simpler for the corporates community to develop in order to nurture those goals and values. Therefore, a corporation can reach the “shared-value,” a value for both its shareholders and community in a simpler manner that can result benefiting the corporation in the end as well. Throughout the article many examples are given of actual corporations that have benefited and changed their CSR in order to fit their goals, therefore, providing solid proof that these methods work. Nevertheless, as acknowledged by the author’s themselves, most of the corporations taken into consideration where one’s that Harvard CSR students were employed
Many vehicle manufacturers have paid more attention on CSR to sustain their business development. Environmental management schemes, green supply chain management and labor codes of conduct are widely recognized and implemented within the industry (Martinuzzi et al., 2011). Automakers also rate it more important comparing to other factors of the company. For instance, the disclosure of the general movement of social and environmental accountability, according to the established opinion leaders in the automotive industry, is increasingly positioned at the forefront of any economy and business context (Russo-Spena et al.,
International companies operating in China must adapt to the existing CSR policies that the country promotes. Therefore, Google finds it challenging to adjust and align its CSR policies according to the Chinese laws. The company has to adjust its policies to conform to the Chinese moral and ethical frameworks that guide CSR activities in the country. Google faces challenges doing business in China because its CSR policies are not compatible with the Chinese market. The regulatory conditions and the sociocultural norms, upon which Google’s CRS policies are founded, unfortunately are not applicable in China.
I begin this essay by defining CSR, there are many definitions for this term by various different theorists, and EU says that CSR is "A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis." On the other hand, Sloman et al. define it as "The concept in which a firm takes into account is the interests and concerns of a community rather than just its shareholder". Davis and Blomstrom (1966), say it "Refers to a person’s obligation to consider the effects of his decisions and actions on the whole social system". These definitions differ from one another in many ways but they agree that CSR involves taking the environment into account and therefore, one must look take social responsibility.
must work in tandem or there is no purpose for any of its existence. Unethical
Social responsibility is the part of the framework of an organization or individual which makes up an obligation to act for the benefit of society. There are many different ways act out social responsibility. The social responsibilities of a business can be classified according to the businesses relationships to the general public, customers, employees and investors. The companies that make their product or service with the rooted mindset of benefiting the community and the world around them do this by providing things like scholarship funds, all natural products, biodegradable storage, and or just by treating the consumer as well as the employees as individuals rather than a corporate dollar sign. Businesses may exercise
In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its