CSR
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Transcript of CSR
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CSRCSRSecond Class
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Source (pic) - http://www.flickr.com/photos/metatron1050/1400813198/sizes/o//
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Put the cards in order…
Most like you is the first card
and least like you is the bottom card
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Move to the side of the room that most represents you
Discuss with your friends and provide examples that prove that your top card
is correct
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Your bottom two cards represent your biggest opportunity for growth
The perfect team would have a member who has a top card that is different from yours
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Do you have the resources?
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1st presentation (January 24) The 10-15 minute presentation should be followed by a lively discussion. The PPT should summarize the assigned social initiatives and prepare a short presentation that includes the following;
Introduction Examples of initiatives Benefits &Concerns Keys to Success When to considerIdeas for Assumption University Conclusion and Discussion
Pair work OK for next week?
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Generation Trends
Short Lecture
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The “Six Options for Doing Good” (Corporate Social Initiatives)
Marketing Related
Cause PromotionsCause-Related MarketingCorporate Social
Marketing
Not typically Marketing RelatedCorporate PhilanthropyCommunity VolunteeringSocially Responsible
Practices
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Business Ethics MagazineList of 100 Best Corporate Citizens (only publicly traded companies)
No Lodging Companies On This List
3 Restaurant Companies Listed
1 Airline Listed
*No Other Firm From T&T Listed
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What is “good”?
SustainabilityCorporate CitizenshipCommunity Relations
Community DevelopmentGlobal Citizenship
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Corporate Social Responsibility
CSR is a commitment to improve community well-being through
discretionary business practices and contributions of corporate
resources
-Kotler,Lee
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Corporate Social Initiatives
Activities undertaken by a corporation to support social
causes and to fulfill commitments to CSR.
-Kotler, Lee
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If we can’t define “tourism” by now a definitive CSR definition is
a long way off.
WTOWorld Business Council
Defining CSR, Redefining CSR, The evolving definition of CSR
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What are the trends?
Increased GivingIncreased ReportingEstablishment of a Corporate Norm to
Do GoodA shift from Obligation to Strategy
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The Traditional ApproachFulfilling an Obligation
The New ApproachSupporting Corporate Objectives
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Why Do Good
Increased Sales and Market ShareStrengthened Brand PositionImproved Corporate Image and CloutIncreased Ability to Attract, Motivate and
Retain EmployeesDecreased Operating CostsIncreased Appeal to Investors and
Financial Analysts
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Challenges to Doing Good
Choosing a Social IssueSelecting an Initiative to Address the
IssueDeveloping and Implementing Program
PlansEvaluation and Measurement
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And that’s Chapter 1
any Questions?
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Social Responsibility:…..more definitions
Corporate Social ResponsibilityThe idea that business has social obligations
above and beyond making a profit.Business has an obligation to groups in
society other than stockholders and beyond that prescribed by law.
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A Continuum of Social Responsibility Strategies (extra)
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Social Responsibility Strategies
Reactive StrategyDenying responsibility while striving to
maintain the status quo by resisting change.
Defensive StrategyResisting additional social responsibilities
with legal and public relations tactics.
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Social Responsibility Strategies (cont’d)
Accommodation StrategyAssuming social responsibility only in
response to pressure from interest groups or the government.
Proactive StrategyTaking the initiative in formulating and
putting in place new programs that serve as role models for industry.
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Who Benefits from Corporate Social Responsibility?
Altruism “Are you being altruisticaltruistic?”The unselfish devotion to the interests of others.
Research FindingsThere is a positive correlation between industry
leadership on a socially responsible issue (pollution control) and profitability.
Corporate social responsibility is a competitive advantage in recruiting talented people.
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Who Benefits from Corporate Social Responsibility? (cont’d)
Enlightened Self-InterestA business ultimately helps itself by helping solve
social problems.An Array of Benefits for the Organization
Retention of talented employees.Help in recruiting the talented and socially
conscious.Help in swaying public opinion.Improved community living standards.…Others.
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The Social Responsibility of Business Is to Increase Its Profits
Please read
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Source - http://www.flickr.com/photos/tatianacardeal/36956189/
CSR?CSR?
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Economist, Milton Friedman says:
“The social responsibility of business is to increase its profits.”
“What does it mean to say that "business" has responsibilities? Only people can have responsibilities.”
“…in a free society there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."
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Milton Friedman
1976 Nobel Prize Winner in Economics One of the most effective advocates of
economic freedoms and free enterpriseAn advocate of limited governmentHis theory asserts a corporation's
primary and perhaps sole purpose is to maximize profits for the stockholder.
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Milton FriedmanTwo main supporting arguments:
Stockholders are the owners of the corporation, and hence corporate profits belong to them.Corporate executives are the stockholder's agents and must
operate in the interests of their principle (stockholders).This does not allow donations to charity by the corporation
(corporate executives) because the income belongs to the stockholders, not the corporate executives.
Individual proprietors are different in that if they choose to spend the income generated by their business they are spending their own money, not the money of other people.
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Milton FriedmanStockholders/Stakeholders
Stockholders are entitled to their profits as a result of a contract among the corporate stakeholders.A stakeholder in this context refers to employees,
managers, customers, suppliers, the local community, and the stockholders.
Each stakeholder group has a contractual relationship with the firm, since they receive the remuneration they freely agreed to in a pre-established agreement (contract).
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Encouraging Ethical Conduct
Code of EthicsPublished statement of moral expectations
for employee conductRequirements for an effective ethics code
Must describe specific practices as unethical (e.g., kickbacks, payoffs, gifts, falsification of records, and misleading product claims).
Must be firmly supported and fairly enforced by top management.
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Millennium Development Goals
What are they?
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Introduction
Agreed during the 2000 session of the United Nations General Assembly
Every UN Member State made the same commitment to meet the Goals by 2015
7th July 2007 marked the official “half-way” point
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Goal 1
1. Eradicate extreme poverty and hunger
Reduce by half the proportion of people living on less than a dollar a day
Reduce by half the proportion of people who suffer from hunger
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Goal 2
2. Achieve universal primary education
Ensure that all boys and girls complete a full course of primary schooling
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Goal 3
3. Promote gender equality and empower women
Eliminate gender disparity in primary and secondary education preferably by 2005, and at all levels by 2015
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Goal 4
4. Reduce child mortality
Reduce by two thirds (2/3) the mortality rate among children under five
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Goal 5
5. Improve maternal health
Reduce by three quarters the maternal mortality ratio
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Goal 6
6. Combat HIV/AIDS, malaria and other diseases
Halt and begin to reverse the spread of HIV/AIDS
Halt and begin to reverse the incidence of malaria and other major diseases
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Goal 77. Ensure environmental sustainability
Integrate the principles of sustainable development into country policies and programmes; reverse loss of environmental resources
Reduce by half the proportion of people without sustainable access to safe drinking water
Achieve significant improvement in lives of at least 100 million slum dwellers, by 2020
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Goal 8
8. Develop a global partnership for development
Address the least developed countries' special needs
Develop further an open trading and financial system that is rule-based, predictable and non-discriminatory, includes a commitment to good governance, development and poverty reduction - nationally and internationally
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United Nations, Tourism and
Blue Washing
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10 articles in the UN WTO Code of Ethics
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Take a break
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What are Uni’s
doing?
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CSR and/or sustainability
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www.cpi.cam.ac.uk/
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Brainstorm with a partner for 10 minutes
Org name
Mission, Vision, Objective
Ideas for CSR projects
Ideas for Resources
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-Activity (5% of Final Grade)-CSR Journal Article Search at the
Library
Print/Copy the article and prepare a one page summary in your own words for the next class