stakeholders but also to the society, environment and towards sustainable planet at large.” – Anonymous SOCIAL RESPONSIBILITY
An ethical framework and suggests that an entity, be it
an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems. CORPORATE SOCIAL RESPONSIBILITY
CSR is a form of corporate self-regulation integrated
into a business model. CSR is about how companies manage the business processes to produce an overall positive impact on the society. FOUR DIMENSIONS OF CSR
Economic Responsibilities – company’s first
responsibility is its economic responsibility -- that is to say, a company needs to be primarily concerned with turning a profit. Legal Responsibilities – company’s legal responsibilities are the requirements that are placed on it by the law. Next to ensuring that company is profitable, ensuring that it obeys all laws is the most important responsibility, according to the theory of corporate social responsibility. FOUR DIMENSIONS OF CSR
Ethical Responsibilities – ethical responsibilities are
responsibilities that a company puts on itself because its owners believe it's the right thing to do -- not because they have an obligation to do so. Ethical responsibilities could include being environmentally friendly, paying fair wages or refusing to do business with oppressive countries, for example. FOUR DIMENSIONS OF CSR
Philanthropic responsibilities – are responsibilities
that go above and beyond what is simply required or what the company believes is right. They involve making an effort to benefit society -- for example, by donating services to community organizations, engaging in projects to aid the environment or donating money to charitable causes. WHY SOCIAL RESPONSIBILITY IS IMPORTANT TO THE BUSINESS?
Social responsibility is important to a business because
it demonstrates to both consumers and the media that the company takes an interest in wider social issues that have no direct impact on profit margins. These issues may be local, national or global, but a concern for the health and wellness of others that does not involve sales can be seen as commendable if done well. CSR CATEGORIES
Environmental efforts
One primary focus of corporate social responsibility is the
environment. Businesses regardless of size have a large carbon footprint. Any steps they can take to reduce those footprints are considered both good for the company and society as a whole. CSR CATEGORIES
Philanthropy
Businesses also practice social responsibility by donating to
national and local charities. Businesses have a lot of resources that can benefit charities and local community programs. CSR CATEGORIES
Ethical labor practices
By treating employees fairly and ethically, companies can also
demonstrate their corporate social responsibility. CSR CATEGORIES
Volunteering
Attending volunteer events says a lot about a company's
sincerity. By doing good deeds without expecting anything in return, companies are able to express their concern for specific issues and support for certain organizations. “Ethical labor and volunteering are no-brainers – consumers and partners want to hear that a business is building something more than just revenues. Even modest steps such as 'open door days' can be a great way to build links to your community and reflect that you aim to make valuable, long term impact,”
- Richard Stevenson, head of corporate communications at
ecommerce platform ePages.com BENEFITS OF CSR
• Increase employee loyalty and retention
• Increase quality of products and services
• Increased customer loyalty
• Increased reputation and brand image
• Greater productivity and loyalty
Business should not only be responsible morally to the stakeholders but also to the society, environment, and towards a sustainable planet at large. TEES AND THINGS APPAREL CO/ TAKES PART ON SOCIAL RESPONSIBILITY! We get up every day, we are able to eat breakfast, and most of all we are able to go to school and feel good. It pains us to see some children that goes to school empty-handed and with hungry stomach.