Summary
Grade 11 Business notes/summary on cooperate social responsibility
Detailed business notes/summary on cooperate social responsibility (CSR) based off of both textbooks and extra notes taken in class
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Corporate socialresponsibility
CSR is relationship between the business (corporate) and society
(social) and the degree at which the business impacts the society
In business context
Business is managed to ensure commercial sustainability
(profitability) while meeting society’s expectations of business
contributing to society and environment
adds value to society over and above selling goods / services
king code talks about business
being good cooperate citizen and Engages all relevant stakeholders
that actions show how much they ensuring sustainability of society
care and environment
CSR issues
Crime
Poor housing Poverty
Inequality
Issues Lack of
education
Poor health
Unemployment
services
Environmental
concers
Responsibility
Primary: look after stake holder interests that are affected directly
(employees/shareholders)
Secondary: stakeholders who are indirectly affected
(community/government/environment)
Blowfield and Murry
Determine level of responsibility using a pyramid
, Discretionary responsibility
Ethical responsibility
Legal responsibilty
Ecanomic resposibility
Economic: ensure that it is economically active (produces goods or
services that can be sold at profit) so that employees and
shareholders can benefit
Legal: respecting laws of the country meaning they are a responsible
citizen in broader society
Ethical: making ethical, sound decisions that have no negative
Impact on stakeholders and sustainable future of society and
environment
Discretionary: higher level of simply not harming others. Need to
decide how or what and to whom or what they will give back.
Ensures values are practiced internally and externally.
Arguments
For
Assist community which in return you get support
Helps community increase standard of living
Ensures future generations have recourses
Against
Detracts from core business activities
Money spent is less profit in pockets
If they are not able to meet needs, they are seen in negative light
CSR and sustainable business practice
Programs should be sustainable where focus and impact is long term
for positive change
A sustainable business will:
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