individuals can have social responsibilities and that the purpose of a corporation is to provide the highest possible returns to shareholders while obeying all the laws and regulations. There are 5 main arguments against CSR. First of all‚ it lowers economic efficiency and profits. CSR also imposes unequal costs among competitors and imposes hidden costs which are passed on to stakeholders. Also‚ more often than not‚ carrying out these social responsibilities require skills which businesses may lack
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* CORPORATE SOCIAL RESPONSIBILITY * Sociology Case Study: Nike * 1. Friedman Approach: Friedman believes that the only responsibility of the company is the increase of its profits for itself and its shareholders so long as it engages in free and open competition without deception and fraud. NIKE CASE: To shave cost‚ Nike outsources all manufacturing and cost savings go to marketing which aims at increasing sales revenue; achieve maximization of profits. No responsibility so long as
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CSR AND COMPETITIVE ADVANTAGE Corporate social responsibility (hereinafter CSR) has become one of the central issues on the agenda of organizations today‚ but is still a long way from being a centre stage on corporate strategy (Smith‚ 2003; Stewart‚ 2006). One of the key problems is the lack of understanding about the impact CSR has on competitiveness (Porter and Kramer‚ 2006). There are many studies trying to analyze the relationship between CSR and financial performance (Chand and Fraser
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Godrej Good and Green Vision: Brighter India. We understand that the Godrej Good and Green is towards betterment of stakeholders of Godrej and for a Greener India‚ Godrej family has over the years instituted a trust and huge vibrant companies for driving socially relevant initiatives in housing‚ education‚ primary health‚ family planning‚ skill building ‚ environment conservation and protection. Its objectives for achieving sustainable growth and playing a part in creating a more inclusive and
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Social responsibility Introduction ISO 260000 (the International Organization for Standardization) is a worldwide guideline for businesses for how to operate in a socially responsible way‚ it was established in 2010 and approximately 90 countries contributed in developing its content. ISO 26000 is not the law it provides companies with recommendations in how to act in a socially responsible manner‚ for example how to treat their staff‚ or the environment. Benefits The benefits of using ISO
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Corporate Social Responsibility refers to notion that corporations have a responsibility to the society that sustains them. Corporate Social Responsibility also takes into account the manner in which a company manages its economic‚ social‚ environmental relationships and the methods which use to engage with its stakeholders as these relationships will impact on the company’s long term success. Corporate Social Responsibility is also considered as a strategy to sustain positive company reputation
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In 1940‚ his two sons‚ Maurice and Richard ("Mac" and " Dick")‚ moved the entire building 40 miles (64 km) east‚ to West 14th and 1398 North E Streets in San Bernardino‚ California. The restaurant was renamed "McDonald’s Famous Barbeque" and served over forty barbequed items. In October 1948‚ after the McDonald brothers realized that most of their profits came from selling hamburgers‚ they closed down their successful carhop drive-in to establish a streamlined system with a simple menu of just
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Makati Medical Center is one of the top medical research and training facilities in Asia‚ and the Philippines premier hospital. Their decades of innovation and service to their patients‚ their families‚ and the community show their deep commitment to providing outstanding patient care‚ pioneering significant research initiatives‚ and training new generations of healthcare providers who can proudly continue their tradition of excellent health service with a heart. Fact Sheet Makati Medical
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mind since the age of Henry Ford‚ if not before but the first effort to theorize this relationship has been made by Howard Bowen’s Social Responsibilities of the Businessman (1953) who tried to give systematic and rationalized arguments in favor of CSR by stating that the big corporations should consider using their power and influence with social consequences and responsibilities in mind. The main argument to this point came by Milton Friedman (1962) who argued that the “only responsibility of a
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First of all strategic CSR has to be differentiated from ethical and altruistic. Ethical CSR can be defined with the help of Caroll ’s pyramid of corporate social responsibility (Crane&Matten‚ 2003). It covers the fulfillment of the three basis parts: economic‚ legal and ethical responsibilities. This means that a company handles ethical CSR in a correct manner if it operates in accordance with the requirements of the stockholders‚ the government and society. Altruistic CSR handles the top of the
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