Investing in CSR profitable to business? At any juncture when an organization goes past simply legitimate compliances and emphatically engages in activities that seem to more extensive social good which is for the most part outside the diversions of the firm and is more customized towards the more extensive social responsibility‚ the firm is said to have embraced the concept of Corporate Social Responsibility (CSR) (McWilliams et al.‚ 2006). The terms corporate social responsibility (CSR)‚ corporate
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Kyle Dee Ethical Theory October 29‚ 2014 Aristotle’s Friendship In Nicomachean Ethics‚ Aristotle believed there are three different types of friendships; the friendship of utility‚ the friendship of pleasure‚ and the friendship of virtue. These are the three different types of friendships why someone might like someone else. Then argue in favor why a good person wants a virtuous friend. The friendship of utility is “those who love each other for utility love the other not in his own right‚ but
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Introduction: - Sam Walton founded Wal-Mart in the year 1962. He started as a small store‚ which served cheap products to the local people. (Hamilton‚ 1976) Gradually Wal-Mart became big in America and soon due to globalization the Wal-Mart expanded to many countries now. They give importance to the price strategies. They follow the concept called “Everyday Low Pricing”. (Richards & Hamilton‚ 2006) This is the reason for their success as world’s number one retailer. It employees around 2.2 million
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their unethical practices and are questioned on their action.1 Thus‚ we have revealed that the crux of the argument lies not only in a business’ drive to maximise profit but also in lieu of their increased publicity and public awareness to their ethical corporate practices. “Corporation: An ingenious device for obtaining profit without individual responsibility. “2 (Bierce‚ 1911). This extract from renowned 1900’sreporter and writer Ambrose Bierce is effective in identifying the view that Corporate
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the world had realized the importance of being associated with socially relevant causes as a means of promoting their brands. Cause-related marketing and corporate social responsibility has provided companies with a new tool to compete in the market. CSR refers to the corporation’s obligation to all the stakeholders. It stems from the desire to do good and get self satisfaction in return as well as societal obligation of business. This could be a strategic marketing activity a way for a company to do
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Asia…………………………………………………………………………………...17 2.2.1.3 Latin America…………………………………………………………………….18 2.3 Stakeholder Theory and Stakeholder Awareness…………………………………19 2.4 Drivers of CSR in developing countries………………………………………………..19 2.5 Corporate Social Responsibility in Nigeria…………………………………………..22 2.6 Ways CSR varies in emerging markets………………………………………………...25 2.7 Effectiveness of CSR in emerging markets…………………………………………...27 2.8 CSR theories and theoretical approach………………………………………………..28 2.9 Case study…………………………………………………………………………………………
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What is CSR? Why is it important? Why do companies pursue CSR strategies? CSR is corporate social responsibility. “the organization’s status and activities with respect to its perceived societal obligations.” Most of CSR to date has been from a study of American and Western European large companies CSR goes beyond what is legally required. It is ‘conscience driven’. CSR enhances ‘legitimacy’ of firms Idea is entrenched to different degrees in different places in the world 5 dimensions: 1.)
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Literature Review Evolution of theory of CSR1 The 50s The connection between corporations and society has been to industrialists’ 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
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CSR impact on customer:- TSFIF has six main focus areas: * Maternal and Child Health: TSFIF(Tata Steel Family Initiative Foundation) addresses family planning concerns through the use of communication media. This programme has successfully destroyed prejudices created by myths and traditional beliefs. TSFIF focuses on reproductive health services and creates awareness on spacing methods and family planning options. * Adolescent Reproductive and Sexual Health: TSFIF has four projects —
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too intricate for any one theory to dominate the field. The values used to formulate a system of just law are often times based upon personal preference‚ unseen biases‚ or self-motivation. Law is such an intrinsic facet to so many different aspects of life that finding a theory of justice capable of covering the entirety of law is impossible. The fact is that‚ man has neither the impartialness nor the capability of creating such a complete theory. Without a complete theory for application we are forced
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