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Corporate Social Responsibility

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Corporate Social Responsibility

  1. 1. GSM5181 International Business Management and Policy Corporate Social Responsibility (CSR) 1 Name Matrix No. Chin Fui Yien GM05287
  2. 2. Traditionally, 2
  3. 3. What do you think?? 3
  4. 4. Presentation Outlines: 1. Definition of CSR 2. Objectives of CSR 3. 5 Dimensions of CSR 4. Cases on CS 5. Recommendations and Conclusion 4
  5. 5. Definition of CSR • It is known as: – Corporate Citizenship – Corporate Responsibility – Responsible Business The voluntary actions that business can take, over and above compliance with minimum legal requirements, to address both its own competitive interests and the interests of wider society. ** 5 ** www.csr.gov.uk (UK Government)
  6. 6. Objectives of CSR • Positive outcomes arise when business takes up a CSR policy such as: 1. Company benefits • Improve financial performance • Enhanced brand image recognition and reputation • Product safety and decrease liability • Attract and retain employees • Increased sales and customer loyalty 6
  7. 7. Cont. 2. Community benefits • Product safety and quality • Corporate product safety and involvement • Awareness 3. Environmental benefits • Greater material recyclability • Better product durability and functionality • Environmental management standards • Eco-labelling 7
  8. 8. 5 Dimensions of CSR 8
  9. 9. Issues of CSR • “Shared value” defines as policies and operating practices that enhance the competitiveness of a company while simultaneously advancing the economic and social conditions in the communities in which it operates. ** • It has blurred the boundary between pure business activities and CSR activities. – “Project Shakti” project of Hindustan Unilever Limited (HUL) – enhance the direct rural reach of the company and empowering women. – Whether research expenses will be considered as CSR spend as “environmental sustainability” is classified as CSR activities. 9** Asish K Bhattacharyya (2013)
  10. 10. Cases on CSR 10
  11. 11. Nike Inc. • Global company (24th Jan 1964) – produces footwear, clothing, equipment and accessory products for the sports and athletic market. • It is the largest seller of such garments in the world – approximately 19,000 retail accounts in US and around 140 countries around the world. 11
  12. 12. Case: Harrasement & Abuse • Workforce profile: 58% of them are young adults between 20 and 24 years old, and 83% are women. • In Indonesia, 30.2% of the workers had personally experienced, and 56.8% had observed, verbal abuse. • An average of 7.8% of workers reported receiving unwelcome sexual comments, and 3.3% reported being physically abused. • 73.4% of workers are satisfied with their relationship with direct line supervisors, 67.8% are satisfied with management although a subsequent investigation has been made. 12 ** http://www.sourcewatch.org/index.php?title=Nike (February, 2012)
  13. 13. BP • It is a Petroleum Industry Company. • British Multinational oil and gas company headquater in London, England. • It was founded in 1909. 13
  14. 14. Case: environmental pollution • In 20th April 2010 – explosion at BP’s deep water rig in the Gulf of Mexico. • The chief executive, Tony Hayward make a mistake after mistake while their crude continued to gush, literally and figuratively. • Although BP has fired Hayward, paid restitution, enhanced its drilling standards and sponsored several feel-good TV commercials, it failed to regain the trust it supposedly covets. 14 ** Forbes Online (2012)
  15. 15. Recommendations and Conclusion 15 International Organizations Governments Business Associations
  16. 16. Recommendations • International organizations – Undertake further research and produce a CSR guidebook. – Provide a resource for advice and training for government. (e.g. Health and safety, labor issue, environment protection) – Establish a CSR Training institute – improve CSR knowledge and skills. 16
  17. 17. Cont. • Governments – Encourage accountability and reporting. – Award schemes and the media to highlight companies who leads on social and environmental issues. – Ensure laws are obeyed by implementing regulations and, encourage negotiated and voluntary agreements. 17
  18. 18. Cont. • Business Associations – Be transparency/ Global Reporting Initiative. – To create a common framework for voluntary reporting of the economic, environmental and social impact of organization-level activity. – To appear more trustworthy and push up the standards of other organizations at the same time. 18
  19. 19. Conclusion • Corporate social responsibility (CSR) can be looked at as what a company doesn't do. As long as a business does not anything unethical, it is being responsible to its internal and external customers. • It is an unethical for a socially responsible company, for example, – to mistreat the environment (emitting excessive pollution), – does not engage in foggy financial practices (misrepresent its financial position), – does not misrepresent its products and, – does not disrespect its employees and customers. 19
  20. 20. Thank You  20

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