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ETHICS-G4

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Chand Kris Mejica
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ETHICS-G4

Uploaded by

Chand Kris Mejica
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CORPORATE

SOCIAL
RESPONSIBILITY
GROUP 4
CONTENTS

What is Corporate Social Responsibility?

Understanding Corporate Responsibility

Types of CSR

Benefits of CSR

Company Examples

Why Should a Company Implement CSR


Strategies?

What Companies Have the Best CSR?


WHAT IS CORPORATE
SOCIAL
RESPONSIBILITY?
CORPORATE SOCIAL RESPONSIBILITY

• Corporate social responsibility (CSR) is a self-


regulating business model that helps a company be
socially accountable to itself, its stakeholders, and
the public.

• By practicing corporate social responsibility, also


called corporate citizenship, companies are aware
of how they impact aspects of society, including
economic, social, and environmental. Engaging in
CSR means a company operates in ways that
enhance society and the environment instead of
contributing negatively to them.
UNDERSTANDIN
G CORPORATE
SOCIAL
RESPONSIBILITY
UNDERSTANDING CORPORATE SOCIAL
RESPONSIBILITY

• Through CSR programs, philanthropy, and volunteer


efforts, businesses can benefit society while boosting
their brands. A socially responsible company is
accountable to itself and its shareholders. CSR is
commonly a strategy employed by large corporations.
The more visible and successful a corporation is, the
more responsibility it has to set standards of ethical
behavior for its peers, competition, and industry.
TYPES OF
CSR
PRODUCT LAUNCH

Environmental
Responsibility

Ethical Responsibility

Philanthropic
Responsibility

Economic Responsibility
ENVIRONMENTAL RESPONSIBILITY

• Corporate social responsibility is rooted in preserving the environment.


A company can pursue environmental stewardship by reducing pollution
and emissions in manufacturing, recycling materials, replenishing
natural resources like trees, or creating product lines consistent with
CSR. Some companies use "environmental stewardship" to refer to such
initiatives.
• Companies that seek to embrace environmental responsibility can do so
in several ways:
ENVIRONMENTAL RESPONSIBILITY

• Reducing harmful practices: Decreasing pollution, greenhouse gas


emissions, the use of single-use plastics, water consumption, and
general waste.
• Regulating energy consumption: Increasing reliance on renewables,
sustainable resources, and recycled or partially recycled materials.
• Offsetting negative environmental impact: Planting trees, funding
research, and donating to related causes.
ETHICAL RESPONSIBILITY

• Corporate social responsibility includes acting fairly and ethically. Instances of ethical
responsibility include fair treatment of all customers regardless of age, race, culture, or
sexual orientation, favorable pay and benefits for employees, vendor use across
demographics, full disclosures, and transparency for investors.
• Ethical responsibility is concerned with ensuring an organization is operating fairly and
ethically. Organizations that embrace ethical responsibility aim to practice ethical
behavior through fair treatment of all stakeholders, including leadership, investors,
employees, suppliers, and customers.
• Firms can embrace ethical responsibility in different ways. For example, a business might
set its own, higher minimum wage if the one mandated by the state or federal
government doesn't constitute a "livable wage." Likewise, a business might require that
products, ingredients, materials, or components be sourced according to free trade
standards.
PHILANTHROPIC RESPONSIBILITY

• CSR requires a company to contribute to society, whether a company donates profit to


charities, enters into transactions only with suppliers or vendors that align with the company
philanthropically, supports employee philanthropic endeavors, or sponsors fundraising
events.
• Philanthropic responsibility refers to a business's aim to make the world and society a better
place actively.
• In addition to acting ethically and environmentally friendly, organizations driven by
philanthropic responsibility often dedicate a portion of their earnings. While many firms
donate to charities and nonprofits that align with their missions, others donate to worthy
causes that don't directly relate to their business. Others go so far as to create their
charitable trust or organization to give back and have a positive impact on society.
ECONOMIC RESPONSIBILITY

• Economic responsibility is the practice of a firm backing all of its


financial decisions in its commitment to do good. The end goal isn't
just to maximize profits, but also to make sure the business
operations positively impact the environment, people, and society.
• A company might make plans to be more environmentally, ethically,
and philanthropically focused, however, it must back these plans
through financial investments in programs, donations, or product
research including research and development for products that
encourage sustainability, creating a diverse workforce, or
implementing DEI, social awareness, or environmental initiatives.
BENEFITS OF
CORPORATE
SOCIAL
RESPONSIBILITY
BENEFITS OF CORPORATE SOCIAL
RESPONSIBILITY
• According to a study published in the Journal of Consumer
Psychology, consumers are more likely to act favorably toward a
company that has acted to benefit its customers. As a company
engages in CSR, it is more likely to receive favorable brand
recognition. Additionally, workers are more likely to stay with a
company they believe in. This reduces employee turnover,
disgruntled workers, and the total cost of a new employee.

• CSR practices help companies mitigate risk by avoiding troubling


situations. This includes preventing adverse activities such as
discrimination against employee groups, disregard for natural
resources, unethical use of company funds, and activity that leads
to lawsuits, and litigation.
COMPANY
EXAMPLES
COMPANY EXAMPLES

• In its 2022 Environmental and Social Impact Report, Starbucks (SBUX) highlights
taking care of its workforce and the planet among its CSR priorities through stock
grants and additional medical, family, and educational benefits. The company's
goals include achieving 50% reductions in greenhouse gas emissions, water
consumption, and waste by 2030.
• Home Depot (HD) has invested more than 1 million hours per year in training to
help front-line employees advance in their careers, aims to produce or procure
100% renewable energy to operate its facilities by 2030, and has plans to spend $5
billion per year with diverse suppliers by 2025.
• General Motors won the Sustainability Leadership Award from the Business
Intelligence Group in 2022. The automaker provided $60 million in grants to more
than 400 U.S. nonprofits focusing on social issues, and it has agreements in place to
use 100% renewable electricity at its U.S. sites by 2025.
WHY SHOULD
COMPANIES
IMPLEMENT CRS
STRATEGIES?
BENEFITS OF CORPORATE SOCIAL
RESPONSIBILITY

Many companies view CSR as an integral part of their


brand image, believing customers will be more likely to
do business with brands they perceive to be more
ethical. In this sense, CSR activities can be an important
component of corporate public relations. At the same
time, some company founders are also motivated to
engage in CSR due to their convictions.
WHAT COMPANIES HAVE THE BEST CSR?

Since 1999, Corporate Responsibility Magazine has


ranked the top 100 Best Corporate Citizens each year
among the 1,000 largest U.S. public companies. Rankings
are based on employee relations, environmental impact,
human rights, governance, and financial decisions. In
2023, the top-ranked companies include Hewlett-Packard
Enterprise Company, Accenture, and Hasbro.
THE BOTTOM LINE

Companies striving to measure


success beyond bottom-line
financial results may adopt CSR
strategies that target
environmental, ethical,
philanthropic, and fiscal
responsibility that extend beyond
the products they sell.
THANK YOU
GROUP 4

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