Corporate social responsibility (CSR) has been a buzz phrase since the 1970’s. The Harvard Kennedy School defines CSR as something that “…addresses how companies manage their economic, social, and environmental impacts, as well as their relationships in all key spheres of influence: the workplace, the marketplace, the supply chain, the community, and the public policy realm.” (Corporate Social Responsibility Initiative, 2008) In an article on the website “As You Sow” early CSR attempts are described as primarily philanthropic and consisted of giving…
Hershey is an exemplary organization in terms of business ethics and social responsibility; a significant part of Hershey Food’s profits go toward operating the Milton Hershey School for Orphaned Children.…
Corporate social responsibility (CSR) as a topic has received the attention of organisations and managers as a whole. The 1950s marked the start of the modern era of CSR for managers, where Howard R. Bowen (1953) defines social responsibilities in his publication as the businesses’ duty to make decision and follow principles that are acceptable to society. However, Milton Friedman (1970) argued that social responsibilities is for people not businesses, he claims that the only responsibility business managers should have is to use all their resources to maximise profit and increase shareholder’s wealth (Friedman, York Times Magazine, September 13, 1970, pp. 32-34).…
In recent years, Corporate and Social Responsibility has become an ever increasing concern and source of community debate. It is now socially accepted that corporations have some ongoing responsibility, though sometimes ignored, to set a good example, make decisions based on social good and on ensuring positive environmental practices.…
The Hershey Company is the largest North American manufacturer of chocolate and sugar products. The revenues are close to five billion dollars. The Hershey Company has created “iconic” brands such as Reese’s and Hershey’s Kisses. Hershey’s products include several types of candy, syrups, and snacks. Through my reading of the chapter of social responsibility and of various articles pertaining to The Hershey Company, I have found that this company holds very true to their ethics and that this is a great reason for their success.…
As stated in Alec, Gonca & Efe’s (2011) journal, “the evolution of Corporate Social Responsibility (CSR) and the concept of Corporate Sustainability (CS) have converged resulting in a similar objective of achieving the balance between economic prosperity, social integrity and environmental responsibility” (Alec,et al., 2011). CSR is the concept coined to describe how organizations now consider the welfare of the people by being responsible for the impact of their activities on all groups of people involved and affected by their business, (ie. their employees, customers, stakeholders). Many businesses have taken CSR very seriously that they have gone beyond “following laws”, and do more…
According to Benedict XVI, in his encyclical, “Corporate Social Responsibility (CSR) is seen as a natural ethical responsibility, which does not come from abstract principles, nor is limited to management skills; which derives from the objective or purpose of the company and its role in society. Which is based in justice and charity; is voluntary; focuses on the human person; is not identified with social action or philanthropy; and which is very demanding for those leaders who wish to put it into practice.”…
Leadership, Ethics & Social Responsibility -‐ Term 2, 2014 CSR Analysis Assignment Submitted by Arun Sareen: Student No. 599078 Leadership, Ethics and Social Responsibility: CSR Analysis Assignment Purpose of this research is to critically analyse and evaluate the corporate social responsibility (CSR) policies that the business Cotton On Group (COG) employs. INTRODUCTION…
Each company is at variance in how it implements corporate social responsibility, if it does so at all. The differences depend on such factors as any particular company’s size, the particular industry involved, the firm’s business culture, stakeholder demands, and how historically progressive the company is in engaging CSR. Some companies focus on a single area, which is…
Corporate Social Responsibility (CSR) is a concept whereby companies integrate ethical, social, environmental, and other global issues into their business operations and in their interaction with their stakeholders (employees, customers, shareholders, investors, local communities, government), all on a voluntary basis.…
Responsible business normally is known as Corporate Social Responsibility (CSR). In today’s world, most businesses are focusing on profitability ignoring all social responsibility they should contribute back. It is important for companies to gain trust from the community in return of CSR. Three major personal core values that I think a ‘responsible business’ should have are empower, professionalism and commitment. First of all, when a company able to empowering others, it can create a good working environment within employees and the company. In addition, it could bring up the company brand image and set as a foundation for success. Second core value is professionalism, where people are likely to deal with…
Milton Hershey believed that, “workers who were treated fairly and who lived in a comfortable, pleasant environment”, would be better workers. He not only built a town for his employees but also a school for orphans. Corporate Social Responsibility is an integral part of the Hershey Company’s global business strategy; which includes goals and priorities focused on fair and ethical business dealings.…
Corporate social responsibility incorporates environmental, social, and economic dimensions that provide leadership and differentiation opportunities for perceptive organizations. However, enterprises need to adequately plan, govern, and anticipate in order capitalizing on these opportunities without exposing themselves to risk and liability. For the past 30 to 40 years, there have been massive changes in organizations ethical and social responsibilities and it continues to evolve. During this time there has been a debate regarding organizations ethical and social responsibilities. This debate revolves around the journal published in 1970, called, “The Social Responsibility of Business is to Increase its Profits” by Milton Freidman, has a Nobel Prize in Economics. Using a statement made on Ethics in Business website regarding Milton Friedman’s journal, it states:…
Being a company that prospers is very much different than a company that is consistently following a guided work ethic while making revenue. Companies these days may participate in under the table schemes or anything to make that extra buck. Very a few industries willingly follow corporate social responsibility. Corporate social responsibility (which will now be referred to as CSR) is a business firm’s intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society.…
The Corporate Social Responsibility (CSR) has acquired extensive interest throughout the previous decades, even though, it is not an innovative concept, and it certainly dates back to the early years of 1930, as stated by Eric Orts, University of Pennsylvania. Prior to the World War II, the industrialists of Germany, Walter Rathenau, declared that the corporations have turned out to be huge and that they have developed to be an important part of the community or the society. As said by Walter Rathenau, although a corporation significantly intends to pursue the personal and individual interests and revenues for the owners or the leaders of the corporation they progressively bear the mark of a responsibility and to a growing degree, have consistently assisted the private interest of individuals. Moreover, philosophers such as James H. Tufts and John Dewey, explained in their book ‘Ethics’ published in the year 1908, they promoted the idea that is not adequate to sight the corporations as a virtuous economic machine and that corporations are supposed to be included in the duties and responsibilities of the general public or individuals privately.…