Summary
Summary BUSINESS CSR
- Course
- Business Studies
- Institution
- 12th Grade
a detailed summary of corporate social responsibility (CSR) according to the IEB SAGS document.
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SA is a less developed country (social divide) with huge socio-economic problems.- There is huge gap between rich and poor (inequality).
- Many people are in poverty due to many reasons, e.g: COVID-19.
- It becomes important for the fortunate to contribute towards the improvements of
the poor.
- There is need for good citizenship role by both indivuals and businesses.
- It is everyone's duty to develop the economy & the community in order to have a
better SA.
Role Of Individual Citizenship Role:
- Indivuals can help community in many different ways.
- Aim is to make a difference through PSR (Personal Social Responsibility)
Eg: voluntary services, teaching, animal rescue, medical care – called pro-bono.
Corporate Citizenship Role:
- Good corporate citizenship involves responsible actions in terms of economic
development.
- They must follow laws, be ethical and give back to community.
- Is important for businesses to do integrated reporting, eg: integrating profit with
planet & people (triple bottom line reporting)
- Companies will earn point on the JSE – SRI (Social Responsibility Index)
- Businesses help by giving back to the community through CPF (Community Policy
Form), CBO (Community-based Organization), NGO (Non-Government Organizations)
- Business usually focuses more on their self-interest (profit).
- Some business forgets to be responsible citizens by ignoring impact of their activity
to community.
- It is common in emerging markets/ developing countries like South Africa that
communities expect more than just the goods being salt. Community expects help.
Company should meet the citizenship expectation.
- Corporations must be accountable to the society for their actions.
CSR – the duty/ obligation of management to protect and promote the welfare of all
stakeholders.
- Financially and non-financially
- Stakeholders are individuals or group of individuals who have interest and are
affected by the business. They are role players.
VS
CSI – these are the actual projects, activities, resources used by business to meet CSR.
, - These are the actual resources invested in the stakeholders by the business. Projects
done to satisfy them.
- The financial success of the business is crucial for the shareholders but the social
performance is equally important to other stakeholders
- The actions of managers go beyond internal stakeholders- to external stakeholders
Stakeholder interest:
Owners of business – shareholders:
contributed capital
They appoint directors
direct interest in the financial performance of the business
Employees -
impact on remuneration
Conditions of service
Labour relations
Suppliers
Prompt payment
Continuity
Order reliability
Consumers -
Good quality products at a reasonable price
Packaging should be convenient and meet needs of customers, but it must be
environmentally friendly
T&Cs
The community:
CSR- Community engagement
Employment
Taking care of the environment
The banks:
Profit performance
Ability to pay back loans
Concepts relating to CSI and Poverty:
Poverty
State of having little or no money and few or no material possessions
Moderate poverty
- People struggle with basics but can still survive easily.
Extreme poverty
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