Professional Documents
Culture Documents
Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship or responsible
business)[1] is a form of corporate self-regulation integrated into a business model. CSR policy functions as a self-regulatory
mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards and
national or international norms. With some models, a firm's implementation of CSR goes beyond compliance and engages in
"actions that appear to further some social good, beyond the interests of the firm and that which is required by law." [2][3] The
aim is to increase long-term profits through positive public relations, high ethical standards to reduce business and legal risk,
and shareholder trust by taking responsibility for corporate actions. CSR strategies encourage the company to make a
positive impact on the environment and stakeholders including consumers, employees, investors, communities, and others.
Proponents argue that corporations increase long-term profits by operating with a CSR perspective, while critics argue that
CSR distracts from businesses' economic role. A 2000 study compared existing econometric studies of the relationship
between social and financial performance, concluding that the contradictory results of previous studies reporting positive,
negative, and neutral financial impact, were due to flawed empirical analysis and claimed when the study is properly
specified, CSR has a neutral impact on financial outcomes.[4]
Critics[5][6] questioned the "lofty" and sometimes "unrealistic expectations" in CSR. [7] or that CSR is merely window-dressing, or
an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations.
Political sociologists became interested in CSR in the context of theories of globalization, neoliberalism and late capitalism.
Some sociologists viewed CSR as a form of capitalist legitimacy and in particular point out that what began as a social
movement against uninhibited corporate power was transformed by corporations into a 'business model' and a 'risk
management' device, often with questionable results.[8]
CSR is titled to aid an organization's mission as well as a guide to what the company stands for its consumers. Business
ethics is the part of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business
environment. ISO 26000 is the recognized international standard for CSR. Public sector organizations (the United Nations
for example) adhere to the triple bottom line (TBL). It is widely accepted that CSR adheres to similar principles, but with no
formal act of legislation.
Contents
[hide]
1Definition
2Consumer perspectives
3Approaches
o
4Scope
o
3.1Cost-benefit analysis
4.1Supply chain
5Implementation
o
5.1Engagement plan
5.3Ethics training
5.4Common actions
5.5Social license
6.2Human resources
6.3Risk management
6.4Brand differentiation
6.5Reduced scrutiny
6.6Supplier relations
7.1Nature of business
7.2Motives
7.3Misdirection
7.4Controversial industries
9Stakeholder influence
9.1Ethical consumerism
9.3Shareholder advocacy
9.5Public policies
10Geography
o
11See also
12References
o
12.1Notes
12.2Sources
13External links
Definition[edit]
The term "corporate social responsibility" became popular in the 1960s and has remained a term used indiscriminately by
many to cover legal and moral responsibility more narrowly construed.[9]
Business Dictionary defines CSR as "A companys sense of responsibility towards the community and environment (both
ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution
reduction processes, (2) by contributing educational and social programs and (3) by earning adequate returns on the
employed resources."[10]
A broader definition expands from a focus on stakeholders to include philanthropy and volunteering.[11]
Consumer perspectives[edit]
Most consumers agree that while achieving business targets, companies should do CSR at the same time. [12] Most
consumers believe companies doing charity will receive a positive response. [13] Somerville also found that consumers are
loyal and willing to spend more on retailers that support charity. Consumers also believe that retailers selling local products
will gain loyalty.[14] Smith (2013)[15] shares the belief that marketing local products will gain consumer trust. However,
environmental efforts are receiving negative views given the belief that this would affect customer service. [14] Oppewal et al.
(2006) found that not all CSR activities are attractive to consumers. [16] They recommended that retailers focus on one activity.
[17]
Becker-Olsen (2006)[18] found that if the social initiative done by the company is not aligned with other company goals it will
have a negative impact. Mohr et al.(2001)[19] and Groza et al. (2011) [20] also emphasise the importance of reaching the
consumer.
Approaches[edit]
CSR Approaches
Some commentators have identified a difference between the Canadian (Montreal school of CSR), theContinental
European and the Anglo-Saxon approaches to CSR.[21] It is said that for Chinese consumers, a socially responsible company
makes safe, high-quality products; for Germans it provides secure employment; in South Africa it makes a positive
contribution to social needs such as health care and education. [22] And even within Europe the discussion about CSR is very
heterogeneous.[23]
A more common approach to CSR is corporate philanthropy. This includes monetary donations and aid given to nonprofit
organizations and communities. Donations are made in areas such as the arts, education, housing, health, social welfare
and the environment, among others, but excluding political contributions and commercial event sponsorship. [24]
Another approach to CSR is to incorporate the CSR strategy directly into operations. For instance, procurement of Fair
Trade tea and coffee.
Creating Shared Value, or CSV is based on the idea that corporate success and social welfare are interdependent. A
business needs a healthy, educated workforce, sustainable resources and adept government to compete effectively. For
society to thrive, profitable and competitive businesses must be developed and supported to create income, wealth, tax
revenues and philanthropy. The Harvard Business Review article Strategy & Society: The Link between Competitive
Advantage and Corporate Social Responsibility provided examples of companies that have developed deep linkages
between their business strategies and CSR.[25] CSV acknowledges trade-offs between short-term profitability and social or
environmental goals, but emphasizes the opportunities for competitive advantage from building a social value proposition
into corporate strategy. CSV gives the impression that only two stakeholders are important - shareholders and consumers.
Many companies employ benchmarking to assess their CSR policy, implementation and effectiveness. Benchmarking
involves reviewing competitor initiatives, as well as measuring and evaluating the impact that those policies have on society
and the environment, and how others perceive competitor CSR strategy.[26]
Cost-benefit analysis[edit]
In competitive markets cost-benefit analysis of CSR initiatives, can be examined using a resource-based view (RBV).
According to Barney (1990) "formulation of the RBV, sustainable competitive advantage requires that resources be valuable
(V), rare (R), inimitable (I) and non-substitutable (S)." [27][28] A firm introducing a CSR-based strategy might only sustain high
returns on their investment if their CSR-based strategy could not be copied (I). However, should competitors imitate such a
strategy, that might increase overall social benefits. Firms that choose CSR for strategic financial gain are also acting
responsibly.[3]
RBV presumes that firms are bundles of heterogeneous resources and capabilities that are imperfectly mobile across firms.
This imperfect mobility can produce competitive advantages for firms that acquire immobile resources. McWilliams and
Siegel (2001) examined CSR activities and attributes as a differentiation strategy. They concluded that managers can
determine the appropriate level of investment in CSR by conducting cost benefit analysis in the same way that they analyze
other investments.
Reinhardt (1998) found that a firm engaging in a CSR-based strategy could only sustain an abnormal return if it could
prevent competitors from imitating its strategy.[29]
Scope[edit]
Initially, CSR emphasized the official behavior of individual firms. Later, it expanded to include supplier behavior and the
uses to which products were put and how they were disposed of after they lost value.
Supply chain[edit]
Incidents like the 2013 Savar building collapse pushed companies to consider how the behavior of their suppliers impacted
their overall impact on society. Irresponsible behavior reflected on both the misbehaving firm, but also on its corporate
customers. Supply chain management expanded to consider the CSR context. Wieland and Handfield (2013) suggested that
companies need to include social responsibility in their reviews of component quality. They highlighted the use of technology
in improving visibility across thesupply chain.[30]
Implementation[edit]
CSR may be based within the human resources, business development or public relations departments of an organisation,
[11]
or may be a separate unit reporting to the CEO or the board of directors. Some companies approach CSR without a
clearly defined team or programme. For example, see the ethnographic study of social responsibility as a subjective state,
conducted in a UK-based multi-national corporation. Results revealed four different modes of moral commitment to social
responsibility and sustainability, with the 'Conformist' mode representing the majority of employees. Some of these were in
formal CSR roles. Interestingly, support was found for the notion of corporate social entrepreneurship: a minority of
employees, driven by their dominant self-transcendent values. These individuals had enlarged their own job roles of their
own volition and were progressing a social agenda, in addition to their formal job role to achieve the company's profit
targets.[31]
Engagement plan[edit]
An engagement plan can assist in reaching a desired audience. A corporate social responsibility individual or team plans
the goals and objectives of the organization. As with any corporate activity, a defined budget demonstrates commitment and
scales the program's relative importance.
Social accounting is the communication of social and environmental effects of a company's economic actions to particular
interest groups within society and to society at large. [32]
Social accounting emphasizes the notion of corporate accountability. Crowther defines social accounting as "an approach to
reporting a firms activities which stresses the need for the identification of socially relevant behavior, the determination of
those to whom the company is accountable for its social performance and the development of appropriate measures and
reporting techniques."[33] Reporting guidelines and standards serve as frameworks for social accounting, auditing and
reporting:
The Fair Labor Association conducts audits based on its Workplace Code of
Conduct and posts audit results on the FLA website.
The Fair Wear Foundation verifies labour conditions in companies' supply chains,
using interdisciplinary auditing teams.
The Islamic Reporting Initiative (IRI) is a not-for-profit organization which leads the
creation of the IRI framework; the guiding integrated CSR reporting framework
based onIslamic principles and values.[43]
In nations such as France, legal requirements for social accounting, auditing and reporting exist, though international or
national agreement on meaningful measurements of social and environmental performance has not been achieved. Many
companies produce externally audited annual reports that cover Sustainable Development and CSR issues ("Triple Bottom
Line Reports"), but the reports vary widely in format, style, and evaluation methodology (even within the same industry).
Critics dismiss these reports as lip service, citing examples such as Enron's yearly "Corporate Responsibility Annual Report"
and tobacco companies' social reports.
In South Africa, as of June 2010, all companies listed on the Johannesburg Stock Exchange (JSE) were required to produce
an integrated report in place of an annual financial report and sustainability report.[44] An integrated report reviews
environmental, social and economic performance alongside financial performance. This requirement was implemented in the
absence of formal or legal standards. An Integrated Reporting Committee (IRC) was established to issue guidelines for good
practice.
Ethics training[edit]
The rise of ethics training inside corporations, some of it required by government regulation, has helped CSR to spread. The
aim of such training is to help employees make ethical decisions when the answers are unclear.[45] The most direct benefit is
reducing the likelihood of "dirty hands",[46] fines and damaged reputations for breaching laws or moral norms. Organizations
see increased employee loyalty and pride in the organization. [47]
Common actions[edit]
Common CSR actions include:[48]
Community involvement: This can include raising money for local charities,
providing volunteers, sponsoring local events, employing local workers, supporting
local economic growth, engaging in fair trade practices, etc. [52][53]
Social license[edit]
Social license refers to a local communitys acceptance or approval of a company. Social license exists outside formal
regulatory processes. Social license can nevertheless be acquired through timely and effective communication, meaningful
dialogue and ethical and responsible behavior.
Displaying commitment to CSR is one way to achieve social license, by enhancing a companys reputation. [54]
practices. Profit is the economic value created by the organization after deducting the cost of all inputs, including the cost of
the capital (unlike accounting definitions of profit).[57][58]
This measure was claimed to help some companies be more conscious of their social and moral responsibilities. [59] However,
critics claim that it is selective and substitutes a company's perspective for that of the community. Another criticism is about
the absence of a standard auditing procedure.[60]
The term was coined by John Elkington in 1994.[58]
Human resources[edit]
A CSR program can be an aid to recruitment and retention,[61][62] particularly within the competitive graduate student market.
Potential recruits often consider a firm's CSR policy. CSR can also help improve the perception of a company among its
staff, particularly when staff can become involved through payroll giving, fundraising activities or community volunteering.
CSR has been credited with encouraging customer orientation among customer-facing employees. [63]
Risk management[edit]
Managing risk is an important executive responsibility. Reputations that take decades to build up can be ruined in hours
through corruption scandals or environmental accidents.[64] These draw unwanted attention from regulators, courts,
governments and media. CSR can limit these risks.[65]
Brand differentiation[edit]
CSR can help build customer loyalty based on distinctive ethical values. [66] Some companies use their commitment to CSR
as their primary positioning tool, e.g., The Co-operative Group, The Body Shop and American Apparel[67]
Some companies use CSR methodologies as a strategic tactic to gain public support for their presence in global markets,
helping them sustain a competitive advantage by using their social contributions as another form of advertising. [68]
Reduced scrutiny[edit]
Corporations are keen to avoid interference in their business through taxation and/or regulations. A CSR program can
persuade governments and the public that a company takes health and safety, diversity and the environment seriously,
reducing the likelihood that company practices will be closely monitored.
Supplier relations[edit]
Appropriate CSR programs can increase the attractiveness of supplier firms to potential customer corporations. E.g., a
fashion merchandiser may find value in an overseas manufacturer that uses CSR to establish a positive imageand to
reduce the risks of bad publicity from uncovered misbehavior.
Nature of business[edit]
Milton Friedman and others argued that a corporation's purpose is to maximize returns to its shareholders and that obeying
the laws of the jurisdictions within which it operates constitutes socially responsible behavior.[69]
While some CSR supporters claim that companies practicing CSR, especially in developing countries, are less likely to
exploit workers and communities, critics claim that CSR itself imposes outside values on local communities with
unpredictable outcomes.[70]
Better governmental regulation and enforcement, rather than voluntary measures, are an alternative to CSR that moves
decision-making and resource allocation from public to private bodies. [71] However, critics claim that effective CSR must be
voluntary as mandatory social responsibility programs regulated by the government interferes with peoples own plans and
preferences, distorts the allocation of resources, and increases the likelihood of irresponsible decisions. [72]
Motives[edit]
Some critics believe that CSR programs are undertaken by companies to distract the public from ethical questions posed by
their core operations. They argue that the reputational benefits that CSR companies receive (cited above as a benefit to the
corporation) demonstrate the hypocrisy of the approach. [74]
Misdirection[edit]
Another concern is that sometimes companies use CSR to direct public attention away from other, harmful business
practices. For example, McDonald's Corporation positioned its association with Ronald McDonald House as CSR[75] while its
meals have been accused of promoting poor eating habits.[76]
Controversial industries[edit]
Industries such as tobacco, alcohol or munitions firms make products that damage their consumers and/or the environment.
Such firms may engage in the same philanthropic activities as those in other industries. This duality complicates
assessments of such firms with respect to CSR.[77]
Stakeholder influence[edit]
One motivation for corporations to adopt CSR is to satisfy stakeholders.
Branco and Rodrigues (2007) describe the stakeholder perspective of CSR as the set of views of corporate responsibility
held by all groups or constituents with a relationship to the firm. [80] In their normative model the company accepts these views
as long as they do not hinder the organization. The stakeholder perspective fails to acknowledge the complexity of network
interactions that can occur in cross-sector partnerships. It relegates communication to a maintenance function, similar to the
exchange perspective.[81]
Ethical consumerism[edit]
The rise in popularity of ethical consumerism over the last two decades can be linked to the rise of CSR.[82] Consumers are
becoming more aware of the environmental and social implications of their day-to-day consumption decisions and in some
cases make purchasing decisions related to their environmental and ethical concerns. [83]
Shareholder advocacy[edit]
Non-profits such as Ceres (organization) and As You Sow, and investing firms such as Calvert Investments promote
corporate responsibility through shareholder mobilization and corporate engagement.
Public policies[edit]
Some national governments promote socially and environmentally responsible corporate practices. The heightened role of
government in CSR has facilitated the development of numerous CSR programs and policies. [86] Various European
governments have pushed companies to develop sustainable corporate practices. [87] CSR critics such as Robert
Reich argued that governments should set the agenda for social responsibility with laws and regulation that describe how to
conduct business responsibly.
Regulation[edit]
Fifteen European Union countries actively engaged in CSR regulation and public policy development. [87] CSR efforts and
policies are different among countries, responding to the complexity and diversity of governmental, corporate and societal
roles. Studies claimed that the role and effectiveness of these actors were case-specific. [86]
The variety among companies complicates regulatory processes.[88] Self-regulation allows each corporate actor to balance
profits and social responsibility without cumbersome governmental involvement. Studies suggest that mandated CSR
distorts the allocation of resources and increases the likelihood of irresponsible decisions. [89]
Bulkeley cited the Australian government's actions to avoid compliance with the Kyoto Protocol in 1997, over concerns of
economic loss and national interest. The Australian government claimed that the pact would damage Australia more than
any other OECD nation.[90] In November 2007, the new Prime Minister Kevin Rudd ratified the protocol.
Canada adopted CSR in 2007. Prime Minister Harper encouraged Canadian mining companies to meet Canadas newly
developed CSR standards.[91]
The Heilbronn Declaration is a voluntary agreement of enterprises and institutions in Germany especially of the HeilbronnFranconia region signed the 15th of September 2012. The approach of the Heilbronn Declaration targets the decisive
factors of success or failure, the achievements of the implementation and best practices regarding CSR. A form of
responsible entrepreneurship shall be initiated to meet the requirements of stakeholders trust in economy. It is an approach
to make voluntary commitments more binding.[92]
Laws[edit]
In the 1800s,the US government could take away a firm's license if it acted irresponsibly. Corporations were viewed as
"creatures of the state" under the law. In 1819, the United States Supreme Court in Dartmouth College vs.
Woodward established a corporation as a legal person in specific contexts. This ruling allowed corporations to be protected
under the Constitution and prevented states from regulating firms. [93] Recently countries included CSR policies in government
agendas.[87]
On 16 December 2008, the Danish parliament adopted a bill making it mandatory for the 1100 largest Danish companies,
investors and state-owned companies to include CSR information in their financial reports. The reporting requirements
became effective on 1 January 2009.[94] The required information included:
CSR/SRI policies
CSR/SRI is voluntary in Denmark, but if a company has no policy on this it must state its positioning on CSR in financial
reports.[95]
In 1995, item S50K of the Income Tax Act of Mauritius mandated that companies registered in Mauritius paid 2% of their
annual book profit to contribute to the social and environmental development of the country.[96] In 2014, India also enacted a
mandatory minimum CSR spending law. Under Companies Act, 2013, any company having a net worth of 500 crore or more
or a turnover of 1,000 crore or a net profit of 5 crore must spend 2% of their net profits on CSR activities. [97] The rules came
into effect from 1 April 2014.[98]
Geography[edit]
Corporations that employ CSR behaviors do not always behave consistently in all parts of the world. [99] Conversely, a single
behavior may not be considered ethical in all jurisdictions. E.g., some jurisdictions forbid women from driving, [100] while others
require women to be treated equally in employment decisions.
UK retail sector[edit]
A 2006 study[101] found that the UK retail sector showed the greatest rate of CSR involvement. Many of the big retail
companies in the UK joined the Ethical Trading Initiative,[102]an association established to improving working conditions and
worker health.
Tesco (2013)[103] reported that their essentials are Trading responsibility, Reducing our Impact on the Environment, Being
a Great Employer and Supporting Local Communities. J Sainsbury[104] employs the headings Best for food and health,
Sourcing with integrity, Respect for our environment, Making a difference to our community, and A great place to work,
etc. The four main issues to which UK retail these companies committed are environment, social welfare, ethical trading and
becoming an attractive workplace.[105][106]
Top ten UK retail brands in 2013 based on Retail Week reports:[107]
Retailer
Annual Sales bn
Tesco
42.8
Sainsbury's
22.29
Asda
21.66
Morrisons
17.66
8.87
Co-operative Group
8.18
7.76
Boots
6.71
5.49
King Fisher
4.34
Anselmsson and Johansson (2007)[108] assessed three areas of CSR performance: human responsibility, product
responsibility and environmental responsibility. Martinuzzi et al. described the terms, writing that human responsibility is the
company deals with suppliers who adhere to principles of natural and good breeding and farming of animals, and also
maintains fair and positive working conditions and work-place environments for their own employees. Product responsibility
means that all products come with a full and complete list of content, that country of origin is stated, that the company will
uphold its declarations of intent and assume liability for its products. Environmental responsibility means that a company is
perceived to produce environmental-friendly, ecological, and non-harmful products.[109] Jones et al. (2005) found that
environmental issues are the most commonly reported CSR programs among top retailers. [110]
See also[edit]
Accountability
Beneficiation
Business ethics
Business philosophy
Carbon neutrality
Carbon offset
Chip Pitts
Civil society
Conscious business
Corporate behaviour
Corporate governance
Corporate personhood
Corporate sustainability
Corporation
CSRWire Canada
Customer engagement
Development studies
Environmentalism
Ethics
Ethical banking
Ethical code
Ethical consumerism
Ethical job
R. Edward Freeman
Green economy
Green job
Inclusive business
Integrity Management
International development
Isaac Mostovicz
ISO 26000
Katerva
Lynne Franks
Matching gift
Mitchell Kutney
Organizational ethics
Organizational Justice
Paul Sanders
Responsible mining
Shareholder primacy
Social development
Social Work
Strategic CSR
Sustainability
The Corporation
Voluntary compliance
Volunteer grant
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