Corporate Responsibility

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Corporate Responsibility

• Chelsea Hulse
• David Furjanic
• Naomi Gunawardena

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Introduction

• Corporate responsibility the ethics of a
  business
• Business definition
• Responsibility to the government and to general
  public
• Go beyond requirements of regulators and
  environmental groups
• Many groups monitor corporate responsibility
• Social, economic, and environmental issues

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Introduction (cont.)

• Green practices increasing efficiency of
  resource use reducing impact on environment
• Environment is one of the main focuses of
  corporate responsibility
• As consumers become more environmentally aware,
  businesses are working to become greener
  responsibility
• Waste reduction and recycling, green building,
  energy and water conservation, use of green
  power, pollution prevention, etc.

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Background

• Term corporate social responsibility originated
  in 1970s
• Focus on corporate responsibility is still a
  relatively new area, but becoming mainstream
• It has become a multi-billion dollar public
  relations specialty (http//www.sourcewatch.org/i
  ndex.php?titleCorporate_Social_Responsibility)

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Background (cont.)

• Corporate responsibility reports for selected
  companies (2008)
• Walt Disney Company
• Starbucks Coffee Corporation
• IBM
• Coca-Cola Company

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Benefits for the Business

• Reduces resource use, waste and emissions helps
  environment and saves money
• Good reputation easier to recruit customers and
  employees.
• Helps the business comply with regulatory
  requirements.
• Involvement with the local community generate
  positive press coverage.
• Good relationships with local authorities make
  doing business easier.
• Understanding the wider impact of the business
  can help it develop new products and services.

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Benefits for Us

• Builds trust between companies and stockholders,
  which is good for the market
• The environment is protected
• Consumers can express their views by choosing a
  company that has green practices

Blackle is an example of a green practice. This
black version of Google saves energy every time
you use it!
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Cons

• Sometimes purely a marketing strategy
• CSR not legally enforceable
• Corporate citizenship vs. CSR
• Fraud

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Opinions

• Good initiative but needs right motives
• Is it managers duty?

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Sources

• http//www.cartoonstock.com/newscartoons/cartoonis
  ts/cca/lowres/ccan154l.jpg
• http//www.delegatesource.com/images/corporate-soc
  ial-responsibility.gif
• http//crs.sagepub.com/cgi/reprint/34/1/51
• http//www.wisegeek.com/what-is-corporate-responsi
  bility.htm
• http//www.investopedia.com/terms/c/corp-social-re
  sponsibility.asp?viewed1
• http//en.wikipedia.org/wiki/Corporate_social_resp
  onsibility
• http//dictionary.bnet.com
• Eds. Kakabadse, Andrew and Mette Morsing.
  Corporate Social Responsibility. New York
  Palgrave, 2006.
• Orsato, Renato J. Sustainability Strategies.
  New York Palgrave, 2009.