Corporate Social Responsibilty

Other names
1. CSR
2. Corporate Citizenship
3. Corporate Responsibilty
4. Corporate Sustainability
5. Sustainable Business
6. Social Responsibility
Reasons why firms are embracing CSR
1. Altruism
  1. Being a good citizen
2. Window-Dressing
  1. To appease stakeholders
3. Contracting benefits
  1. Helps recruit, motivate and retain employees
4. Customer-related motivation
  1. Attract customers; brand positioning
5. Lower production costs
  1. packaging, energy use
6. Risk managememt
  1. address potential legal or regulatory action
7. Improved access to capital
  1. ethical investment funds
Arguments against CSR
1. Only social responsibility of business is to create shareholder wealth
2. The efficient use of resources will be reduced if businesses are restricted in how they act
3. Businesses cannot decide what is in society's interest
4. Extra costs will be incurred which must be passed on to consumers
5. CSR stifles innovation
Why Society Needs Business
1. Employment & Wages
2. Investments & Innovation
3. Profits and Taxes
Why Business Needs Society
1. Create Demand
2. Public assets & Infrastructure
3. Legal Protection
Well Known CSR projects & firms supportive of CSR
1. M&S Plan A & Unilever (Project Shakti & long-term investment)
2. Co-op Group & Apple: supplier audit (but contrast with controversy over Foxconn factories)
3. GE (Ecoimagination)
Some firms that have struggled to adopt CSR or come under fire from pressure groups
1. BAT Tobacco
2. Nestle
3. BP & Shell

Zusammenfassung der Ressource

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