вторник 26 мая
Advantages And Disadvantages Of Corporate Social Responsibility Pdf
Slide 2: Corporate Social Responsibility: Its Advantages and Disadvantages According to Horrigan 2010 there is no definite answer to what CSR is owing to the high level of ambiguity and controversy related to the topic. Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. Keywords: Corporate social responsibilities, important, resistance, advantages, disadvantages Introduction Corporate social responsibility (CSR, also called.
Benefits, challenges & threats of CSR Jacqueline BurmeisterLIM CollegeKey benefits of CSR programs Corporate Social Responsibility (CSR) programs should support what a company believes in and thus reinforce its core values. For-profit companies can build an alliance with a non-profit organization or like in the case of the Pink Pony Fund of The Polo Ralph Lauren Foundation; a company can found a program that embraces one or several social initiatives by itself. The fashion industry is widely criticized for its negative effect on environmental and social issues such as landfill and fast-fashion consumerism. Contributing to the greater good of the community enables companies to have a…show more content…
A successful program can reduce a company’s costs, increase sales and improve its reputation within the market, all of which keeps shareholders happy and attracts new investors. In 2011 the company Levi Strauss & Co. launched a program focused on its employees’ well being. “The initiative has created proven, sustainable business and social benefits at all levels of the supply chain, including a demonstrated 4:1 return on investment for some programs.” (Levi Strauss & Co., 2017). Last week, the company was ranked number eleven in Fortune’s Change The World List, which evaluates companies that improve social and environmental issues as part of their economic growth strategy. (Leaf, 2017)Main challenges of CSR programs During the process of implementing a CSR program, a company can face a vast range of challenges. One of them is the selection of an appropriate social issue as the core of the initiative. The issue should not take the attention away from the brand whilst being relevant and reaching consumers emotionally. Companies need to take into account people’s perception of the right type and right amount of help, how much is enough? When it comes to raising finance for a CSR program companies face another challenge. Departments and shareholders need to be convinced that the investment is beneficial for everyone involved. On the other hand, companies need to watch carefully what the market, in
A successful program can reduce a company’s costs, increase sales and improve its reputation within the market, all of which keeps shareholders happy and attracts new investors. In 2011 the company Levi Strauss & Co. launched a program focused on its employees’ well being. “The initiative has created proven, sustainable business and social benefits at all levels of the supply chain, including a demonstrated 4:1 return on investment for some programs.” (Levi Strauss & Co., 2017). Last week, the company was ranked number eleven in Fortune’s Change The World List, which evaluates companies that improve social and environmental issues as part of their economic growth strategy. (Leaf, 2017)Main challenges of CSR programs During the process of implementing a CSR program, a company can face a vast range of challenges. One of them is the selection of an appropriate social issue as the core of the initiative. The issue should not take the attention away from the brand whilst being relevant and reaching consumers emotionally. Companies need to take into account people’s perception of the right type and right amount of help, how much is enough? When it comes to raising finance for a CSR program companies face another challenge. Departments and shareholders need to be convinced that the investment is beneficial for everyone involved. On the other hand, companies need to watch carefully what the market, in
.One of the foundational elements of CSR is that it causescompanies to reason beyond basic ethics to consider the benefits ofactive involvement in communities. In his article 'The 7 Principlesof Business Integrity,' business strategist Robert Moment arguesthat 21st-century companies must prove themselves to customers tobuild long-term, trusting relationships. They must also getinvolved in the community to give back. This community connectionendears your company to the local markets in which you operate.Employees are a company's most valued asset. This is the premiseof a company's obligation to this key stakeholder group with regardto CSR compliance.
This means treating employees with respect andoffering fair working conditions. It also means establishing fairhiring practices and promoting a non-discriminatory workplace. Thisimproves morale within the workplace and encourages teamwork.Additionally, a writer on the As You Sow website stresses theimportance of managing a diverse workplace so that you can benefitfrom a variety of backgrounds and life experiences.The main reason any company would object to participating in CSRis the associated costs. With CSR, you pay for environmentalprograms, more employee training and efficient waste managementprograms. Proponents of CSR agree that any expenses to businessesare ultimately covered by stronger relationships with keycustomers.
However, David Vogel indicates in his Forbes article'CSR Doesn't Pay' that investment in CSR programs may not necessaryresult in measurable financial results.Another challenge for companies when considering CSR is thepossible negative perception of shareholders. Historically,publicly-owned companies had a primary focus of maximizingshareholder value.
Now, they must balance the financialexpectations of company owners with the social and environmentalrequirements of other stakeholder groups. Some shareholders arehappy to invest in companies that operate with high integrity.Others may not approve of the aforementioned expenses of operatingunder CSR guidelines.
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