No firm—big or small—is likely to do anything about CSR, unless the board of directors, CEO, senior management or owners recognize that some sort of CSR-related problem, opportunity or challenge exists. In turn, this recognition provides the fuel for proceeding with a CSR assessment, with the purpose of better understanding the nature of the problem, opportunity or challenge and its significance for the business.
A logical first step is to gather and examine relevant information about the firm’s products, services, decision making processes and activities to determine where the firm currently is with respect to CSR activity, and to locate its “pressure points” for CSR action. A proper CSR assessment should provide an understanding of the following:
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Assemble a CSR leadership team;
2. Develop a working definition of CSR;
3. Identify legal requirements;
4. Review corporate documents, processes and activities; and
5. Identify and engage key stakeholders.
This is not the only way to do an assessment; rather it is one way a firm can review the full range of its operations through a CSR lens. A number of organizations, such as the GRI, have developed useful tools to help firms perform an assessment. The bottom line is that as long as the firm does a thorough appraisal of its current and potential activities from a CSR perspective then it will have achieved the objective of the assessment.
2. DEVELOP CSR STRATEGY
What is a CSR strategy?
The CSR assessment generates a base of information the firm can use to develop a CSR strategy. A CSR strategy is a road map for moving ahead on CSR issues. It sets the firm’s direction and scope over the long term with regard to CSR, allowing the firm to be successful by using its resources within its unique environment to meet market needs and fulfil stakeholder expectations. A good CSR strategy identifies the following:
• overall direction for where the firm wants to take its CSR work;
• the stakeholders and their perspectives and
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Different firms may be at different stages of awareness of and work on CSR, which will dictate the contents of the strategy. Some may decide to adopt a “minimum necessary” stance. Others may wish to make strategic forays into particular areas.
Why have a CSR strategy?
There is an old saying that “if you don’t know where you’re going, there’s little chance you’re ever going to get there.” This is as true for CSR as it is with any other business approach. Following a CSR strategy helps to ensure that a firm builds, maintains and continually strengthens its identity, its market, and its relationships. Importantly, it provides the framework for a coherent business strategy based on the issues that it and its stakeholders consider material.
How to develop a CSR strategy
The following six steps comprise a suggested way to develop a CSR strategy:
1. Build support with the CEO, senior management and employees;
2. Research what others (including competitors) are doing and assess the value of recognized CSR instruments;
3. Prepare a matrix of proposed CSR
The analysis will determine how the organization will enhance their responsiveness of leadership will affect the relationship with society. The analysis will determine the health of the organization through the triple bottom line of: people, planet, profit. An implementation of a strategic plan will be devised to practice corporate social responsibility that will enhance the relationship between the organization and stakeholders. An evaluation of policies and practices will determine the impact they may have on internal and external stakeholders’ operations of responsibility. Analysis of Issues Personnel
On the other hand, research by McWilliams, Van Fleet, & Corey (2002) supports the idea that firms can use CSR and political influence to affect regulations themselves, such as by influencing intellectual property regulation to perhaps lower labor costs by preventing foreign competitors from using their own versions of an organization?s protected technology. The Oxford Handbook of Corporate Social Responsibility (2008) represents CSR behaviors through the categories of philanthropic economic activity, good corporate governing, implementation of corporate sustainability practices focusing on environmentalism, and a variety of other actions involving social conscientiousness and participation in organizational culture and activity. Additionally, questions arise not only out of the nature of the duties or deontological concerns of corporations, as emphasized in the previous point, but also based on discussion of what motivates participation in CSR: executive leadership, organizational fiscal outcomes, or an organizational or individual culture of altruism (Orlitzky, Siegel, & Waldman, 2011). Centering the issues of CSR around the perspective of stakeholder management (Freeman, 1984) enables corporate firms to take a vision of the firm?s performance in which it is embedded within the larger social and environmental contexts. This has the advantage of aligning with consequentialist outlooks which, as Trevino and Nelson (2014) note, is by far the most commonly cited form of ethical decision-making by managers, and in undermining the ethical-dilemmas which employees often face in choosing between the profits of the organization which employs them and the consequences of those in society outside of the organization by leading
This paper provides the results of a review of Target’s CSR. It answers four principal questions in summary form and provides recommendations for improvement. The first question and its answer relates to a definition of CSR, explains Target’s policy and identifies linkages of policy to strategy as reflected in corporate objectives. The second provides an overview of Target’s CSR efforts both past and present. The third evaluates Target’s CSR efforts using Target’s stated objectives, considers correlation with key performance measures, and compares Target with select members of its peer group.
CSR is described by the Guidance Standard on Social Responsibility as “Social responsibility is the responsibility of an organisation for the impacts of its decisions and
Social responsibility or corporate social responsibility (CSR) is a form of corporate self-regulation that is integrated into a business model. The CSR policy
It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which states that a firm can never exist In a vacuum (Khalidah et. al.).
Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders . The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.
The road of CSR is thought. Conducting the team (employees) is like journey. The expedition into the unknown. A road that leads there is not easy. It can be bumpy, sometimes anfractuosity but shortcuts are not acceptable.
Involved in CSR activities are proven to create good image and reputation for a company. In the long run, it helps a company to increase shareholders’ value and achieve sustainable business
Davis (as cited by Khalidah, Zulkufly, & Lau, 2014) defined Corporate Social Responsibility (CSR) as “… the firm’s consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm. It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which stats that a firm can never exist In a vacuum (Khalidah et.
In the recent years more and more companies in the retail and food industry are concerned about the environmental consequences of their action and also the social ethics for the people involved in the production process. This is a shift from the philanthropic actions companies used to take in 1970’s and by following basic international standards to a ‘business case’ perspective of CSR (Customer Social Responsibility). According to the World Business Council for Sustainability Develpoment ( WBCSD) CSR is: ‘’ the commitment of business to contribute to sustainable economic development, working with employees, theirfamilies, the local community and society at large to improve their quality of life’’ (World Bank, 2002)
Practicing CSR also helps the company earn a reputation of a good corporate citizen that increases brand awareness and attractiveness and companies also do some cost saving in terms of escaping expensive fines and court
Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders. The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.
1.Introduction Corporate social responsibility (CSR) is focus of the current business world, consumers pay more attention to the return of the company rather than the quality and price of the product. Recently, the increasingly international corporate scandals have exposed some serious issues on the roles and responsibilities of companies (Brammer, Williams and Zinkin, 2004). According to a report from PricewaterhouseCoopers (Cheney, 2004), companies that ignore environmental problem and social responsibility are all suffer disaster. In order for companies to be competitive in the variable business environment, they must making profits while making the world a better place. Therefore, the performance of companies should not only measured by
If a company undertakes CSR then it helps to build a positive image in the market and it ultimately leads in benefits earned by the company. CSR activities not only help the companies to grow, but also due to social welfare the most disadvantaged group of a society gets a fair share in the world