Federation University Australia
BUGEN 1530
Reflective Journal
2nd entry(CSR)
Name: Lam Kai Pui
Student ID: 30091133
Due Date: 28/2/2015 Compared with the first Reflective Journal, I understand that sustainability and Corporate Social Responsibility would like to benefit to everyone. On this Reflective Journal I would consider and try to apply my studying on daily day and future plan.
Corporate Social Responsibility build a business to last by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families ,talented employees demand it, informed customers expect it, long term investors require of the local community and society at large.
Shareholder model
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For example, as a customer I would like tend to select a kind of firms or shops that are Corporate Social Responsibility, e.g. product made by reusable materials. Eco-footprint to measure how waste in general day and improve it, e.g. bring my own reusable shopping bags replace to plastic bags. In future, as a one of governance of firms, I would like to add in elements of sustainability e.g. new products and services, that's become a firm culture since that can acknowledges a social role for business in society.
Local and Global Social Responsibility
A Social Responsibility firm that will get three categories of benefits i.e. not only benefits to Company ,but also benefits to environmental and the general public.
From the firm point of view, CSR can Improved financial performance by lower operating costs. Awareness of brand image and reputation and then, ability to attract and retain employees , also sales and customer loyalty would be increased. Take a competitive advantage when we compare with traditional firm. Since CSR can get greater productivity and
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Example of Local and Global Social Responsibility
I found that DENSO and TDK both of them are good example to explain and apply Corporate Social Responsibility and that become a part of firms. These are a good learning objects for us to refer and study it.
DENSO
Harmony with the environment
The DENSO Group has also been promoting environmental activities in collaboration with local communities. DENSO will continue to facilitate various environmental programs that serve as an opportunity for each employee. For example, DENSO Eco-Ranger 21, Micro-hydro Power Generation Idea Contest ( appendix 2)
Ensuring safety and security in local communities
DENSO companions its continuing work in progressing automotive safety through R&D and manufacturing with a broad portfolio of traffic-safety initiatives.
TDK
Automobiles
TDK is making significant contributions to improved capability and better fuel efficiency in environment-friendly cars. For example, file capacitors. (appendix
Windsor, D. (2001). The future of corporate social responsibility. International Journal of Organizational Analysis, 9 (3): 225-256.
Social responsibility can be defined as “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” (Mallen Baker, 2004). In addition, social responsibility has been defined differently by various corporate leaders that provide guidelines which impacts how one manages the core business. Social responsibility is an essential part of a business. If managed correctly should strengthen the competitive spirit of the company and provide prosperity to society.
Hohnen, P. (2007). Corporate Social Responsibility An Implementation Guide for Business. Winnipeg: International Institute for Sustainable Development. Retrieved January 22, 2014, from http://www.iisd.org/pdf/2007/csr_guide.pdf
Today in the corporate world various strategies are applied to successfully run and execute transactions. In the recent years, the subject matter of Corporate Social Responsibility has escalated. “Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders” (http://lexicon.ft.com/Term?term=corporate-social-responsibility--(CSR). Communities are demanding that corporations take social responsibility for their actions, and elucidate the process of disposing waste in an environmentally manner to the people. Numerous businesses have initiated Corporate Social Responsibility approach in order to gain benefits, which will allow
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
According to Mike Peng, Corporate Social Responsibility (CSR) is the consideration and response to issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with traditional economic gains the firm seeks. CSR is a way in which a company seeks to achieve a balance between profit, environmental concerns and social imperatives. This is known as the ‘Triple-Botto...
An organization that comes to mind when thinking of corporate social responsible organizations is Target. Target is a company that is widely known for its products that it offers to the public. Target has attempted to dedicate more of its resources towards educational and environmental improvements in the areas where they have stores. This effort towards
Philip Kotler and Nancy Lee (2005) Corporate Social Responsibility - Doing the Most Good for Your Company and Your Cause. New Jersey: John Wiley and Sons, Inc.
...social responsibility in order to benefit most of the communities that are close to it geographically. This will lead to development of infrastructure and other amenities such as sport centers. The company will also try to mitigate environmental degradation by use of modern technology.
CSR is a concept where company involves in social and environmental in their business operations. This is done to achieve a balance of economic, environmental and social obligations.in simple terms giving a hand for those who are not capable of achieving with their objectives and attending to them so that they could make those objectives a reality. This could improve organizations cooperate image which would also leads to attain a high market share.
57). During recruitment, younger candidates are likely to show higher interest in a company with a successful sustainability program (SHRM, 2011, p. 33). Employers should seek those who seek to include environmental stewardship and social responsibility in their core values (Liebowitz, 2010, p. 52). Employers should also identify those individuals who are willing to work as team, adapt quickly to change, and inclined to take risk while finding creative solutions to problems. Success with new employees depends on early introduction of company sustainability goals; by including sustainability in the onboarding process, employees can relate the sustainability efforts to their job
Both of these areas are the lifeblood of the company, and any benefit to them should not be overlooked. Before a company can become proficient at corporate social responsibility, they must first know its definition. Corporate social responsibility is defined as actions that can be taken by a company to ensure they are adhering to ethical and social responsibilities of the day. These corporate social actions are self-regulatory, as a company strives to adhere to guidelines while also going above and beyond being a Good Samaritan in the business world (ECA, 2015). This can place certain businesses at the forefront in customers mind because of the example they are setting in the marketplace. A company going above and beyond the call of duty to work towards a more philanthropic approach in the surrounding community is a perfect example for corporate social responsibility. Going deeper into the definition, corporate social responsibility acts like a “double bottom line” for a company, as they strive to achieve financial goals, but also achieve their social mission out in the community. Once a company is aware of what the concept of corporate social responsibility is, they can now implement it and start to reap the many benefits of its
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...
Corporate Social Responsibility is management’s obligation to protect and promote their stakeholders welfare. Social Responsibility is more than just obvious ethical issues like honesty and integrity in business dealings.