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Business social responsibility WHY IT MATTERS
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Recommended: Business social responsibility WHY IT MATTERS
Jordan Brydges Professor Gustafson BUS 356 November 2, 2014 Power Impact Investing Impact Investing can be defined as: investments made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return (Merriam Webster). In her book, The Power of Impact Investing, Judith Rodin is trying to show readers about opportunities that are opening up for investors and show how impact investing. In the book, Rodin and Brandenburg compare how impact investing compares to more traditional investments. Impact investing is usually tied to social or environmental issues, where investors are looking to invest in businesses, nonprofits and funds that can gain the positive power of companies. Whereas traditional investing is concerned with making as much money as possible and solely concerned with the amount made. Although impact investing can be good for society in the future, this book shows some issues on the industry of impact investing including: the field does not show a clear innovation progress causing confusion for investors, impact investments are more complex to accomplish than traditional investments, and lastly, keeping the younger investors interested in …show more content…
Because there is a different concept behind impact investing, which is investing in companies that will be beneficial to the environment and society, it can be hard to attract all different types of investors. Because of the variety of investors it is hard to have something that appeals to them and having a large variety of companies to invest in is important for the impact investing field to have. Even though the support systems are continuing to grow and there are more resources for investors, impact investing is more complex than traditional investments for many reasons including unproven continuous
... Crowdfunding is based on quality and innovation, not on profit. A project needs to catch enough interest in order to be realized. This forces innovative architectural concepts. Conclusion The new mechanism = the crowd instead of the old centralized organizations plus the new driver = the quality instead of profit eventually leads to a new highly participatory society redefining our own relationship to 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...
Flammer, C. (2013). Corporate Social Responsibility and Shareholder Reaction: The Environmental Awareness of Investors. Academy Of Management Journal, 56(3), 758-781. doi:10.5465/amj.2011.0744
Oprah Winfrey was born on January 29, 1954. Her home has been at Santa Barbra, California. She lives there with her partner, Stedman Graham. Oprah is a renowned talk show host, actress, American media proprietor, producer and philanthropist. The Oprah Winfrey show, multi-award winning talk show is what this great philanthropist is best known for. This show was the highest ranked show of its kind, being syndicated nationally in the period 1986-2011 (Winfrey 3). She is currently the CEO and owner of Oprah Winfrey Network. During her early life as an actress she was in the movie “The Color Purple” and the “Beloved”. In 2013, she starred in the movie, “The Butler” as Gloria Gaines. She has done documentaries and movies for HBO. She was also the voice for Gussie the Goose in “Charlotte’s Web” and also the voice Judge Bumbleden in the “Bee Movie”. This is just a few of the movies she was in.
Since the onset of the industrial revolution during the 19th century, humanity has rapidly stripped the earth of its natural resources and dumped countless byproducts into our environment. While 97% of climate scientists agree that climate change is real as well as man made (Proceedings Of The National Academy Of Sciences) there is still debate as to the validity of this in the public debate. Philanthropic individuals and organizations play an important role in influencing public opinion as well as directly conserving at risk land and species in addition to fighting projects that could have disastrous environmental impact. These individuals play a major role in providing funding for environmental groups due a general lack of available government subsidies for the issue relative to subsidies provided for many other issues. (Kimble Pg. 2) These philanthropists come from varying sectors including finance, alternative energy, high technology, broadcasting, development and real estate.
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.
Globalization Phase, companies were known locally, regionally and internationally, their products were already improved offering innovative services. However, as The Economist (2007) has highlighted, while more global the companies are more aware of corporate social responsibility they need to be, namely, foreign stakeholders will expect, not only innovative and effective products, but also they will open their doors and invest their money to companies that are social responsible.
The general pattern for people is that when they becoming older they are less able to vary life. Nikolas Westerhoff in his article “Set in Our ways: Why Change is So Hard” described the connection between humans’ brains and behavior during the certain periods of life. The key assumption is that in 20s people are more hazardous and tend to adventures, while after 30s this trend is less expressed. Author gives an example when the young generation can be even over risky and inconsiderate. The article includes the story about 22-year-old Cristopher McCandless, who gave his money for charity and hitchhiked around the USA and died in Alaska because of famine. When 40s – 60s are coming people lose their appetite for novelty due to the natural process, which reveal that old habits express themselves at those ages. The elder generation wants to feel stability continuing do customary things and taking care of their children or grandchildren. Also they are under the society’s pressure, when it is quite inappropriate being infantile or just make crazy travels instead of making a career and having a family. Author mentioned false hope syndrome, which means that people often procrastinate certain thinks that never be finished. That is why Westerhoff suggests doing everything “on a right time in a right place” because then it would be probably late.
PepsiCo discloses their stakeholder engagement as a contribution towards sustainability. As part of the company social responsibility and sustainability strategic planning, the company has put in place strict policies to guarantee a long-lasting relationship with all its stakeholders. According to the company website, ‘PepsiCo has established a strong relationship with NGOs and routinely engage them to leverage their areas of expertise or interest to help shape their CSR processes and tracking methods. These relationships have helped to better identify sustainability priorities that supports both the business model and the expectations of the stakeholders’ (PepsiCo 2013). PepsiCo invests mainly in activities linked to their chain of management, they totally applied Kramer and Porter’s ideas. Porter explains that businesses are socially responsible today because they realized that socially responsible activities build and develop credibility, integrity, and give competitive advantage.
Corporate social responsibility (CSR) is similar to an individual’s social responsibility. An individual who is socially responsible is aware of how their decisions affect the environment. Corporate social responsibility can be define as “how well a company meets its economic, legal, ethical, and discretionary responsibilities” (Peter & Sarah, p. 51). Corporate social responsibility holds businesses accountable to stakeholders such as consumers, in areas of concern such as environmental factors, community and society in general. As a result successful CSR initiatives creates a sustainable company in all ways: financially, ethically, environmentally, and socially. The moral problem with CSR is based on the belief that “CSR would be a cost that would be higher than the perceived benefits. By financially supporting “charity” based initiatives, firms are not performing their fiduciary duty to their stockholders” (Peter & Sarah, p. 49).
Werner (2009) points out, corporate social responsibility (CSR) initiatives--may be able to positively affect social status, earning potential, access to services, and resources for socially excluded populations. Leaders that are social responsible can influence the organization and the environment around it in a positive way. Organizations such as Enron was proven and perceived as unethical and a negative factor on the economy. The perception of an organization that has a leader, who is corporate social responsible, can help improve a poor economy. Werner points out; CSR is meant to address a problem by addressing any negative value-chain impacts while supporting the business strategy and the needs of the community. CSR can be a strategic tool that is effective in creating a positive image for the
Reed, B. (2011). The Business of Social Responsibility. Retrieved from Dollars and Sense Real World Economics: http://www.dollarsandsense.org/archives/1998/0598reed.html
As the socialization of enterprise management evolves continuously, significant attention has been drawn to the implications of corporate social responsibility (CSR). CSR is generally defined as "a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis" (European Commission, 2001, p.6) As indicated in the definition, social and environmental concerns should exert influence on the company's stakeholders including not only actual shareholders but also other relevant social subgroups (Freeman, 1983). Despite the absence of a universally accepted metric to quantify the effect of each specific investment due to the complexity of contextual
It has been shown that there are many different areas in which a company may choose to focus its corporate social responsibility. The top area of focus in corporate social responsibility is on environment. Other areas that should be considered in the development of corporate social responsibility programs are education, health, nutrition and employment. “Social responsibility investment combines investors’ financial goals with their obligation and dedication to factors that ensure the well being of society such as environmental friendly practices, economic growth and justice in society” (Anderson 9). These elements not only epic corporate social responsibility, but also represent ethical standards of a company. It is unethical for some individuals to own so much and earn so much, at the expense of other suffering members of society. It is also unethical for companies to damage environmentally that result in illnesses and loss of life. It can be concluded that Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all
Scandals at Enron, WorldCom and elsewhere undermined trust in big business and led to heavy-handed government regulation. And because of these examples of irresponsible behavior companies have to watch their every step. Investors too, are starting to show more interest. For example, $1 out of every $9 under professional management in America now involves an element of “socially responsible investment”, according to Geoffrey Heal of Columbia Business School. Some of the big banks, including Goldman Sachs and UBS, have started to integrate environmental, social and governance issues in some of their equity research. True, the finance industry sends mixed signals: it demands good financial results above all else, and in parts of the financial world—notably the private-equity part. But private equity itself has to respond to public pressure about being green, or they might see a large slide in support, which translates to loss of capital gains. We know that investors, when they look at a company and decide whether to invest, they look at financial data, metrics like sales growth, cash flow, market share, valuation, and just the same, nowadays they need to consider E.S.G. I am talking about the environment, social, and governance. The environment includes: energy consumption, water availability, and waste/pollution. Social