Corporate Social Responsibility
What is CSR? To what extent is there a business case for CSR?
A. What is CSR?
Competition is becoming more and more fierce while the market is becoming globalization. With higher consumer sovereignty, customers are no longer satisfied with qualify products and good services. The society concerned more about the business ethic and environmental issues. Companies are expected to act virtuously nowadays. The ideas of Corporate Social Responsibility and Corporate Citizenship are spreading faster than ever before and become one of the hottest business models in the recent decades.
“Corporate Social Responsibility (CSR)” is defined as “the commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life” at the World Business Council for Sustainable Development in 2000. The main idea of CSR is that corporations should be responsible to the stakeholders which include the customers, shareholders, suppliers, employees or any other party that may be influenced by the corporate actions. Different organizations may have formed different social responsible programs which can be categorized in four major components: the environment, the community, the work place and the market place. Different companies will emphasize on different aspects to create the social responsible programs. “Particular CSR initiatives may do good, or harm, or make no difference one way or the other, but it is important to resist the success of the CSR idea. “ (Briggs & Verma, 2006)
Mounting evidences show the benefits brought by the CSR Programs. For example, corporations made huge donation to disasters nationwide and to the bottom billions. However, not every CSR Program can be built up successfully. Nestlé had suffered from a boycott last over 30 years which is the result from its failed CSR Program. Known as the baby killer, Nestlé is blamed to kill thousands of Babies in
A. What is CSR?
Competition is becoming more and more fierce while the market is becoming globalization. With higher consumer sovereignty, customers are no longer satisfied with qualify products and good services. The society concerned more about the business ethic and environmental issues. Companies are expected to act virtuously nowadays. The ideas of Corporate Social Responsibility and Corporate Citizenship are spreading faster than ever before and become one of the hottest business models in the recent decades.
“Corporate Social Responsibility (CSR)” is defined as “the commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life” at the World Business Council for Sustainable Development in 2000. The main idea of CSR is that corporations should be responsible to the stakeholders which include the customers, shareholders, suppliers, employees or any other party that may be influenced by the corporate actions. Different organizations may have formed different social responsible programs which can be categorized in four major components: the environment, the community, the work place and the market place. Different companies will emphasize on different aspects to create the social responsible programs. “Particular CSR initiatives may do good, or harm, or make no difference one way or the other, but it is important to resist the success of the CSR idea. “ (Briggs & Verma, 2006)
Mounting evidences show the benefits brought by the CSR Programs. For example, corporations made huge donation to disasters nationwide and to the bottom billions. However, not every CSR Program can be built up successfully. Nestlé had suffered from a boycott last over 30 years which is the result from its failed CSR Program. Known as the baby killer, Nestlé is blamed to kill thousands of Babies in
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