CSR
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Describing CSR has five components - FT.com
Despite the current economic climate, Corporate Social Responsibility in Ireland is thriving. CSR has now become a mainstream business activity with more and more companies realising that implementing responsible and sustainable business practices set themselves apart from their competitors. CSR is about doing business in a fair manner and showing a commitment to the world in which we operate. By engaging in CSR activities companies are showing an active interest in their local community and that the impact their business has on the community is important to them. The value of CSR is that it has dual benefits.
Ireland - CSR for Small and Medium Enterprises- How CSR can benefit your business
The Benefits of Corporate Social Responsibility - Corporate Counsel
Companies may be exposed to a variety of legal and reputational risks if they do not have adequate social compliance or corporate social responsibility/sustainability programs in place. Attorney Michael A. Levine gives examples of CSR issues embedded in the risks companies face, and describes benefits of CSR programs. He also summarizes the recent work of the United Nations' Special Representative for Business and Human Rights, who has recently proposed a three-part framework for CSR. The ALM ® and LexisNexis ® Content AllianceDJSI - Dow Jones Sustainability Index
SAM - Sustainability Asset Management
An interesting new ranking arrived in my in-box Thursday morning grading the most social-savvy FTSE 100 companies. In the top 10 were plenty of brands you’d expect – Marks and Spencer, Burberry, Unilever and Intercontinental Hotels. Also making the cut was Big Oil. Improbably, both BP and Royal Dutch Shell had cracked the top 6 of the FTSE 100 Social Media Index. If you had told me a year ago that BP had cracked anybody’s list of socially committed brands, I’d have asked you how much petrol you’d been sniffing.
What BP could teach you about social media smarts | SMI
rporate Social Responsibility does more harm than good | | Independent Battle of Ideas Blogs
The current period of financial turmoil has – as on previous occasions – led to considerable speculation and projection by nervous enterprise leaders, confused politicians and interested advocates as to the correct conduct and purpose of business. The last time this occurred was in response to the economic downturn of the early 1990s. This led, at the time, to the articulation of a presumed need for greater corporate social responsibility – or CSR – as articulated in the 1995 RSA Inquiry, ‘Tomorrow’s Company: the role of business in a changing world’. Notably though, many of the original sponsors and supporters of that endeavour – many of whom appeared to endorse what was to become the New Labour agenda of demanding more targets and procedural audits, as well as greater dialogue and inclusion – are no longer around.
Benefits of CSR - CSR & MANAGEMENT
According to a survey published in 2008 by “ Economist Intelligence Links (Canada)”, carried out with 1200 managers from everywhere in the world, and who intended to benefit from the implementation of strategies and policies in the field from the RSE, the six principal greater advantages mentioned were: Operations : Reduction of the social and environmental impact of the activities, relation between good vicinity and local associations, better comprehension of the activities of your company Credit : Safety of the credits, valorization of your company and profit-sharing of the shareholders present and/or future Marketing : Development of the markets, existing and new, reinforcement of the image of the brands, competitive advantage, better comprehension of new customer’s needs by a reinforced proximity, information on the markets
How to Evaluate Corporate Social Responsibility
The relationship between business interests and the community has often been awkward, as there is often a natural tension between profit and social impact. However, in today’s world the case for putting corporate social responsibility high on the business agenda has never been stronger. The real question is how it can be done in a way that aligns the objectives of shareholders with the needs of the community. Where companies tend to struggle is when they have to balance issues of economic growth, jobs and political interests with activities that impose significant, longer-term costs on the community. For example, the row between the gaming industry and legislators is a flash point which highlights the tension between gaming profits and the social cost of gambling addiction.
Corporate social responsibility is about the integration of social, environmental, and economic considerations into the decision-making structures and processes of business. It is about using innovation to find creative and value-added solutions to societal and environmental challenges. It is about engaging shareholders and other stakeholders and collaborating with them to more effectively manage potential risks and build credibility and trust in society. It is about not only complying with the law in a due diligent way but also about taking account of society’s needs and finding more effective ways to satisfy existing and anticipated demands in order to build more sustainable businesses. Ultimately, it is about delivering improved shareholder and debtholder value, providing enhanced goods and services for customers, building trust and credibility in the society in which the business operates, and becoming more sustainable over the longer term.
Business Case for CSR - Corporate Social Responsibility
Balanced score card plus
Modern capitalist business firms often resemble Feudal aristocracies, with power being concentrated at the top and only the property owners (nowadays called shareholders) being allowed to have a voice (theoretically) in the organization’s government. Thus the term “shareholder capitalism.” …Modern capitalists justify their property ownership claims on the risks they take with their capital and their role as entrepreneurs who create new business ventures, coupled with a claim that the “invisible hand” of a competitive free market (after Adam Smith in The Wealth of Nations) will ensure that the benefits “trickle down” to everyone else… Nobody can gainsay the phenomenal success that capitalism has achieved over the past 200 years, although capitalists certainly can’t take all the credit for the progress we have made.
From shareholder to stakeholder capitalism
The business benefits of corporate social responsibility | Business Link
Corporate social responsibility (CSR) isn't just about doing the right thing. It means behaving responsibly, and also dealing with suppliers who do the same. It also offers direct business benefits. See the page in this guide on how to benefit from corporate social responsibility . Building a reputation as a responsible business sets you apart. Companies often favour suppliers who demonstrate responsible policies, as this can have a positive impact on how they are perceived by customers.Shareholders v stakeholders: A new idolatry
THE era of “Jack Welch capitalism” may be drawing to a close, predicted Richard Lambert, the head of the Confederation of British Industry (CBI), in a speech last month. When “Neutron Jack” (so nicknamed for his readiness to fire employees) ran GE, he was regarded as the incarnation of the idea that a firm’s sole aim should be maximising returns to its shareholders. This idea has dominated American business for the past 25 years, and was spreading rapidly around the world until the financial crisis hit, calling its wisdom into question. Even Mr Welch has expressed doubts: “On the face of it, shareholder value is the dumbest idea in the world,” he said last year.The Economist's Matthew Bishop believes corporate social responsibility programs are bad for both businesses and under-developed communities. by Manda Salls In a day that celebrated social responsibility and corporate virtue, one speaker offered a counter view by calling such programs "a complete fig leaf" and saying they can do more harm than good. Matthew Bishop, business editor of The Economist , said company social responsibility initiatives could diminish shareholder returns, distract business leaders from their focus, and often allow companies to continue bad behavior in the shadows.
An Opposing View on Corporate Social Responsibility - HBS Working Knowledge
Corporate social responsibility (CSR) | Current issues
Corporate social responsibility (CSR) promotes a vision of business accountability to a wide range of stakeholders, besides shareholders and investors. Key areas of concern are environmental protection and the wellbeing of employees, the community and civil society in general, both now and in the future. The concept of CSR is underpinned by the idea that corporations can no longer act as isolated economic entities operating in detachment from broader society. Traditional views about competitiveness, survival and profitability are being swept away. In the past, governments have relied on legislation and regulation to deliver social and environmental objectives in the business sector.A new study by IBM Institute for Business Value finds that corporations can gain a competitive advantage over rivals as well as develop new revenue streams by adopting corporate social responsibility practices. “A growing body of evidence asserts that corporations can do well by doing good,” the authors of the report, George Pohle and Jeff Hittner wrote. “Well-known companies have already proven that they can differentiate their brands and reputations as well as their products and services if they take responsibility for the well-being of the societies and environments in which they operate.
IBM study highlights the commercial benefits of CSR : greentelecomlive
DSD - Division for Sustainable Development - United Nations
DSD promotes sustainable development as the substantive secretariat to the CSD and through technical cooperation and capacity-building at the international, regional and national levels. The achievement of sustainable development requires the integration of its economic, environmental and social components at all levels. This is facilitated by continuous dialogue and action in global partnership, focusing on key sustainable development issuesNGI en ISO26000