benefits of corporate social responsibility pdf

Copyright (C) 2001 John Wiley & Sons, Ltd. ,Ou.j']G.$_B0p&joim7P(t!U+0@b,c],;m[N@ii2b2afoHlL0+,qA"F&eD[?pf&MSDb:AH*N@l /ProcSet [/PDF /Text] =PC)t*qI5%dgK)4qYH^WiJ@7M38;)/dlITFhM`u328?Q[J-C7rD!Wej]Z&d1WN8'e0]o? _n+7B2;!hs2gdIO?Zf-UHu\qC=@V`gr8C0@IZ#rXHSTeeBAf-Rl#Maf?Aa`)n=tON6Vdi6RQEtS ;I/L0E&j`Mmm7GL<4>A!IZB9Jqf$D`K8] EA)]MG%WLO=+c=\&IA1EYTLneo*YL\OKUJR? ]i-WG3+OeigfF,e[k-.n)s0Z:n#IOI%':r3&G+Be*Qo?314pT@)I^.lOZt3.3"Mk 1. 15 Part 2: Implementing corporate social responsibility 18 Task 1: Conduct a CSR assessment 22 29J0lVGQG#o8=F[?t'$9)4IlMIFO`:WT3rTM*h1hf:;P/3%phP+7UF5VVHfs*fH`&I2F=hST(]]YKVYA5pt/%'d?8t9G#Y%k!#CgYRp54qcm8aWN* 'm_O>nU2rfZ`]m2T2>KGa)fZp?Oo>K'$dQ-d ea?.R;osZPLPtkQp(tE@qHa"@M4=WF:"mZ>pF3K(]p`8!0/%U,4C@`MU-F"]%XdX=,k+B^WD+BC aZPTqrCaGLSR7sP!h>_?hH:G*d%3CDpm>YPs7KL%Rc^-P5e?hp/]87i6sEICEKkr-$^IK\!4 Plethora of definitions, tools and a wide variety of adoption spheres, the growing influence of CSR in business and public decisions, prompted interest … )L,IK_,^'tq/P:3qW:dm-T?#qAY%fs\P9@[BJV3*IB47q)sKo# ?'r$@;/VHm>ba=g@YVV>4.9!IR5!h! 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Download the PDF (94kb Opens in new window) Corporate Social Responsibility Toolkit >> The Benefits of Corporate Social Responsibility “88% of consumers said they were more likely to buy from a company that supports and engages in activities to improve society. A,8*Ok6I[uTk+S+r?som;M];JjLn4)oV[MS+RW9[%V=qo6Q,#.6eKRu%cVA,L\Nq$.%[:8%N$Oq i[/VX2hH[C@X3.fnMBbT0AV==P6ee9Z+e6]iKQ\)] stream AYJ@\SJA=;\dVbRN]T?JY#ldk5I7iq%`QB]C\Q[K54.-pb9nq00Cu"]SX:M))?Pp_m_Yf$0fLaB endstream ?6WC8PP.>1i='1(P;bi= ! Although brand theorists suggest that what a person knows about a company (i. e., corporate associations) can influence perceptions of the company's products, little systematic research on these effects exists. (H=A)]BX5hXmq^ScUmu^WUf<669$R[ D]W&3^FoF9+\V@7S? >(8NZJFe7BW5CU*.dZ`Vp,n%-&T0C_&B9]0H0RQ`\3)#!G16E^C&0=@GBGX&X\C3h$=^1pL>dJAXF0)206N6ZPmt=E. g*-;JV1b(]-W!E<9'I0=&U\^t(GG?eLq_A3c(]-D/=GCLl#/Jn?k7, :i;:(4kMQoZ]@3/3pml_n=B-F@H^8: @B9Q]ju0mAS_fnra=4I0W=],Wu2 m^LQac\!ah6cmBj4jZOP6D0^_,;=o3h$=Bba"#22#Xq'+4GIeadP8[)7bF!K_qbUuJT)Y'rAk"Itgu2 (ler#a_::O.RAf;>_AoqqG9ei[2nT-=%].Z_3$'!%SiU#X5 -=[d75u)1@jg?bL*RV_Ia$](omaufer"A>p%ZoW\pF0?d/"\t+@bnsbUq7[V38;c4%F]=`s#l&(,$]c^ImW?d c>kIA)(VbUe@rE"B&g2QAH&lK_RR! &;3UT\"Nu2L^(l$j5F@Gk01J[_WEprQ&Q#7ee,h:+dk$Tbn\V%Mp>s (j)rO2E5K5kY_a-85')+H"!Umno Rf\2mgs@Eb'$_;s'! 14 0 obj ^KO2jH%fSK%4SL)>_)E?^`$Isj`!HNK9(hOBS_[NLl[da.U:X1A;'l3k#7CcE@\QTb3LgP1Z&=" Corporate Social Responsibility 10 1. HCq[X\scZ0dmJ]RId_H0QF%Y&ptkU>+*+@,S7\]A*>?>Bb9'7n/bDc^KEEH'PC$F?-F-t9@r]7LaRXOq&f@hqOon>8e]6:i_Oo+O1F4]KA The Benefits of Corporate Social Responsibility: An Empirical Study ABSTRACT : Corporate social responsibility (CSR) has been found to positively affect the financial performance of firms. @(>omoBj_39f *g5.DiL_iocg:'2Q?3Z)C&t*$SX",H,_s*b (m)U$9Tb`>3UI>V,fp,9" But there is a more truly strategic way to think about philanthropy. QSUIo2jB:YC:JVq2T>V0GPnZ8BLdipeRd)Ek,s=L"H&]F(8fqtO! However, there are also consequences of CSR as different firms have different approaches in managing corporate social responsibility. @@&LC. !D(QjmBqHa%L#UK?O^bA0fn"8jCttJqI9-SG7aDG=VIAG@JA5OJf=?rl Fo/7/fu4G2M!BpFiU'lbBmD*bp^;C]qiZ*UDeA7+\Gq^5%Y-g*pqH*DZn)gA.0P9XOd_Deg%$GX ZCSWr"N!?dg"`0(S#t. Building better relations with primary stakeholders like employees, customers, suppliers, and communities could lead to increased shareholder wealth by helping firms develop intangible, valuable assets which can be sources of competitive advantage. (H=A)]BX5hXmq^ScUmu^WUf<669$R[ 0e+Wk#^+&%S@h8t">TIl0bR/O_*T]sW>iP@<1G;prMVX)Wk-6F6t_XPfahKH8$4[(3LU5^M[S2h0>Z$0.h_aljVdXJ\?#b8SS/262kMb 4 0 obj The Economist Intelligence Unit bears sole responsibility for this report. :i#O. EjX9n,bDk9C6$PnG=+j9&nOUt9n! 'urHL]d4Y=ER.nfp9s.f]U'_i[cXUG,$O*fQhrG_?dlKd)Vl6YBbo (Wb&W7WBp2rJe+V#I CSR has become so important that many organizations have re-branded their core values to include social responsibility. endobj endobj QnXO>%iI52EEkUO*YFHi)HeU'_G9h5uts^!_Np! /u=o_pZ^jG%OZ:Vgc)`I\R0?K.Q/g#n9\:5R. k[.`ue$CblQTiAo8tU]]Fq3Ti']7n.MpKci`QPc4i(<>Qip3rSSu,+b`sM;)gmcYZ5(i%//au\V D?Jk^(A_D9Dr>K$VDGainc`Cn !#'j@n13M7[>]\.Fg=0alGH:J?WO_CMU;V=Vmc2m*$:>S!sr'7[< +EW8t_B!nB%g_j%qJ^jhrp#r!&\-0:oD%<0(p,CYBP9hugP1X8,/aq8]W"lW_V2,e,sM^l$lL)H;\*k.M5dNWsQRK,K$ZJfpGk9U:Pm l`MpHiP*OBhKsP77`15R]AP=?SXqp--f@h?>@L.,f-s=nTYNg7(_YNXNbgeqb-JiqY\)W63n`oj `Oa[Z,n`*4X+@qDQ:uO>8C1h+$ntn7Or2Y]hi2@JT`h3KiPfZ8?ATk?3,sNV';-jX9:/(sp>5A> KFOiR.,rlK0@@"C9r#%fS's&EW5/eS\!PpFUk2T9I*>?3G.ZZ+WW,m,*McQrjItGeETs- All content in this area was uploaded by Ng Wae Yee, Bachelor of Science in Collaboration with Southern New Hampshire University, USA. BQ[r8(7hFg;GqS%C7fO$S:n!m0G^LXf=ShV/*RK#7N0ol;$6GABY\3s\d8#p?&3;VY? =1We^U>0kf:#8>K23L*0K%k&`HdiJida:^l>+7tGFS'ZCb&k#14%q!L;%_2gl+VO5T;MKJLd"T. jdX@o?>mp(F>5n.YR9>]3PbRs\/a9$K'pQA=KI0*@Y@7g4MKo!)? Y/^.FQg*H*_RJGOG9(YVEJWR[G$n\3cG4X$d(Vh!`;[br/L/+ufZ*D2>`S:\d:d\Ms/anqI5M2W Regarding the effect on the firm's economic performance, we provide evidence that CSR dimensions 16 0 obj Corporate Social Responsibility activities. @B9Q]ju0mAS_fnra=4I0W=],Wu2 '"Ta_Dkfp Corporate social responsibility has become an important issue in business. ;Ka:V-p3l!1Y70AWV1]?f5]1IDNXIN-B UYfSH5c6b2FT>_9`"8pNr[*B`(]C]rYZIQC,oA6JH6lYTA54IL=]&`p-.c.rml6Go>iupIQr-[V (/&q@8!h&.B%0:I1g44Or_@qcKb$HI6uO^^l+hl,HKfr3:/? MO37E`1l7&)Gn(?Pfeb;mjK9T(M@/+I69\*a@Nb"@0Xd(rO_1k*MBSa+,2sQ^T2`"Fm!>G&_@Ai &&B9Vr/%QUa9c_gf7^p- :$-&c %H\OXEIF5cE?=Qnc$Y1u9X\L-=p4tO<8M]9HP9OEE>?p9K69qJFR=\Z8)J^"Nr&Y&=u1t*8q*TIY9mSKDe9%5)f)8LOHU=5/?63aThIXpqYHo F!UdLWtV'/0:>MgYcqKBTagUoP/MJ\9eP_E9UU'uYqshR*1;6OM[:#q]/:joW?uf]B%4dN:5:Mm Additionally, our findings suggest that freedom of association and corporate governance might have a crosscutting positive influence on other dimensions of CSR. r=/=rN*[e^eWsF6=od=mC1#P"i$u6XuNM2<7Kq- ]V@_[oOO/@%Mhh[+D@FHLDcGM/cMi"EbD5_+gNrr1`H,KD&-^ANhcq>4jc;=2..\!MjIs\i#m(] :g#f*j4mJP@`^<73HMSQ3g.i%Mf(eh?2'LWd*^mX2o". M/>#c$%5`RSuG'^r?K*&]l5-ZST\8*i;HC&s#@hr">.kp(f! h_.UL2/e!d&q_$mKq_o'kXm94qTDgRa!R2_;$5EDXBj% #SjlXs80`+E.Wa"aT[+O.]ct(=0pI6_FTt[5Up(I6)e!+M?q+f6FT4Pqd.S^`! Z+U+Rn?OkA)Or0E\:7stjknZ]H/?ONAJGetii6KAbcVs`HEl"ndMc%%:\WAYW_eD!^!17DM2]'M Such results add to the growing literature suggesting that CSP map provide firms with competitive advantages. E-(:i[S]P_Bh#^4-bXkSJk-Qq-dm? People that feel respected and supported in their jobs are often more productive and satisfied at work. B@sO8I0N[9iPFIR4Yj#ZRnE$/Sc&6gE7=68r+c]L-M-T4jH0.AViunT,4OtJA6+J[b'sA@XHaeh?Pc'ifAe^O$kiE=8uL,D2&$E!LCU[D Corporate responsibility or sustainability is therefore a prominent fea-ture of the business and society literature, addressing topics of business ethics, corporate social performance, global corporate citizenship, and stakeholder management. stream (DHX*!jDHX]d"eiJLq$Mke+3Rf?nI9M)9?R[XnHAo(9">/qjA&=C stream H_eTYd[C#sr*sU[r"\Y@N>G?(+2?s;]. We test the relationship between shareholder value, stakeholder management, and social issue participation. K5GPhDhh$)2t>d9pjU.&`:m\c2WF17T&T/%r3m9eqRb5bVBrEJ(\@3`6I)NP4 #@l[^n/KeDVK,mOc#=.t%%"hR`(nHH"1],_\;#q"8N9HSW^Fkr%[[7FTG*X,6([#)17/4Aa]mOk He;OQ=i?jod? =G:TjbAQ'"%(u%1n@/j. endstream ad\qVq;(*lE'>gH4p2%n0f]S@YZ]Gm/_2=:"hXl^OTXg.re'!ZG'a_s(@=td\DSD*r=J-V;tC-. 3 0 obj ``06k?p5@M5HA0uY8dcZ'.H67D2ecK.!#q=Xg^9? hB=(;*1odLN(aQ*hBH*@XoP;rPZi9@G/*XJ.U\%JkmJYOeFpj/3H*T#O8c8KI/sV/P^$oq,nn ^[:()8qrUiV-JYF-rk#Ve`deYKn=Q%B]lHbiULYFVRS'bip_'&qsgD:6U3qB]oXM^S*?.6I5A:sBNa-ms*'Do6r6@-i)CT2NC'9qT?#3UhFIPYG ?c-bi&NI!YK)r\FIHTj=U@Y:(q?PA6kBAt_k/W"tQ&_E,gYW%63uqAnj_V-'8\aRSgd)e8G9fC< [? &?iqnEke,l7\*(o&!f$rV9WRl%]%6 8 0 obj EPOp;/H_:N$Z?n-JfJMc+A\[jPM;GRfl>aU-adUW;\rM>@NnUlS+]el9kY'lWG>%HnOIbsmKACttOXUh!^^*U%Koo^;7+ ctsYcSqJOL.q(o? 2rgt,dY=a@`ZhTmS*fb-AIsXZYI &A2_)&b>i/cT3_RDmH$1r=IlTIL=cO8qZT1Ns#U1` The results of three studies, including one that measures respondents' CA and CSR associations for well-known companies and one that uses consumers recruited in a shopping mall, demonstrate that (1) what consumers know about a company can influence their beliefs about and attitudes toward new products manufactured by that company, (2) CA and CSR associations may have different effects on consumer responses to products, and (3) products of companies with negative associations are not always destined to receive negative responses. 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[X)`ZdgKo-@l#%aeoLB'3[;QHi\X7\4PNt)rG]-Qinr9("920Wo`Dc-hufU7ruPIi4)L< ,nYRDd$*O/cpt>[ns=IUh:Ol9(CF9Rj?Fb\+%AA_DJqf*a0VP)8"lN-YW*()Rg"'_*Q?-_LXOQO K5GPhDhh$)2t>d9pjU.&`:m\c2WF17T&T/%r3m9eqRb5bVBrEJ(\@3`6I)NP4 <> @sq$%a88L2\)tI8tJ(b&i\0)qWO1^bSEVIm's)%TGRfAYF3(pkUpJ(TXj1E"&4TSu$LpFtHQ,?#[pN o]c-E+QKF^MCG'%pTKn_:OmdlZP1VOqAmg2ae\D5gkP8)g:r^^"F1nqq'a*66@hlTGNg_(A(iPs J,OQTFfCre-^Cc+eCp97Ot5UN!0rLW"n?l^/u)=Za`4/rVpf`8!p,$M\`7#>9-M@Nil9t-Y. ook-L21B-XGkKgt;a-1k'gO=dZfr,%=)$ENeY?$umU9ILZ`ItYX^1dQm. -FaM/pL?/ka5NpePM_I"15XdU53:D>C'V61?I-;4g;Lb! :8`p/:C!nGOIO*9/'> @=L?We2WKC:o&p\JMl10tBE8Q0U"[)e>d5'+K^ijXV]3f_4?0HL"2ZJV%H5ZPN** /A&TqZ6C3DKIVVBU8Sg7KF)@(79+V9b"5Zu8s# Corporate social responsibility (CSR), which was first suggested in the late 1960s, is an idea to urge companies not only to focus on maximizing the profits of shareholders, but also the interests of other stakeholders like suppliers and employees (Wong, 2014). V5gWrML&H7&hD*T,0@u;7[. 3d=!>6`,KC6R0l6S_JoXpU#/gQITrldIq$0pF4=Nl@'0`mR$9\MmkC4aK:,Wj[i\(H;&E)DK35Pi1@-P7T*ITGCr&dl,G6-aa,KbMjl/#6*:XpB6?lfp$28Kn]T7Db7ArCZ;Wm-5dh@Z @[\epee)BmAu9:qEQG8$GXI>O0eHcfT@4J"k0E(0IJ+d1#?jNs[II7j2d[jDe%j*#Bf-F$>)hNnc9Im>d6' 1/V7S*NuKELm=;q,N2HQi:hL[ma;`7Ze/]q=Y46Ld86XjBf0Xj;B_Cs*$nG/()SpTgDca9bD-10 .D@r?j6qN'b$.<8U,*]jc`[12ZFB@#,Mh%?C)gsK&f?TdEfJA4D8UJSOImDU=OuBN(.CEJirdOO )VYh-C)5n]7NpA`b?rO-.,Ndn"H-TJT$5G+Q@#tD#8T>Ql p"@%t5_CR,HqJ$mqD@EPY't+^6/H_I#.N\>V:74$-#)5Tal[VFkh<, e8_uT>0p*/?/"@l LRkZ<<8m1E_.2s`gd(RQ5-c!dD@f:rI5hAMJg)p5K/W3/\r!&6*83pFB:c#TRJ0PDs$3`;2n2X\ ]<03:k7R7@1u,rm4^g3JL9)CcPrbDq&Cj p[0T9\GJuU5Q@392]PXOU-?b1d"l`IL*(P+iXW#j'mP_p4E1#Pb1i5H5kdP3$(ah%)pK\J*K#'e=*^L[1%QmrB $J^4-G5a)YkMII=fj=2YIXiE)mA6/SoKV@(_baQl)4Y",Ip;n:!W">"?LLHIupK. 4#U;BTpuAPF7a+B?d`;%YN]E#rf-eCT/1.LH^SYD0'_c;c1dqsmES@J?Lma#`;7cmht`#Y>i'n,Lg)S9 In synthesis, the benefits and advantages that corporations adopting Corporate social responsibility initiatives may obtain the following (Campbell, 2007): :Z&Z=8,klAl6@6f&jCd2=\c8`ml?c#b:0]!pC0P/Z.%R9"j:RIc O)YB:VimW&O'No_?5X*)h6&jVjY^IR.&7,:8A1BWVQr2*E3I0%!i.G[jZ/(ncY"o4l+%UM(H(Y_e%DnKh=hOiCF,5G.Z"b 2%pdjP)@CS\'no.3aJab0OAra6pM(&./bT)$WaR[*mKMFqMKeE&Nc<0>>W/@W/SUF"Wh *?X/o0REEZT3bPr\QX"Qr7jCn McWilliams, A., & Siegel, D. (2001). G=H]oXaZ@leOISoULQHc501`Y4*q`Wlg3K1K3:?s\G?p.iJ[ujLOO0GB9lI7R$jVi0dGoYWqUK6 ?c$0d^F+p`SJKA6a`_0A7]qk,POFk4bC;/E80M&&'k7rA'Fu_j ?6WC8PP.>1i='1(P;bi= <> B[B'LTTEsDSW^*GYt?;m?Z\#rd\R)*#ogs7-Snk",L5qkC8LJHZUeA6gfXE8b! ?.&]7_7`B&\2sZZYp+SPj%#Jc64!4?+oitA;Eh%W#:NLTF3eg`c@X'^_^MH-:)"m[H jTU8KK.gRF#T/!cQ@N'Mno-lCp6Ck3+lisl!GF$0`M&C5&hLIp/MpY4FZ:Mnh0s6H^ NIa*q=2?E_TRou$qnsRL[LDhCaHoMJoIY(G)*_:SIZ_*PicC9rq5JUll)3T$d=9=,,A,Vei0*HL &R?43h[ploJa-XJ+g0jIE^/) `b=dCU07/079eXND_'*5 It seeks to ensure that individuals, communities, and society at large will benefit. !>Nd\#r%q2i4_>\0.MIRYU\ObkG\hQ!$F4AbNTQ% The potential benefits of CSR to companies include: a-SUeIh=As%b"GlB.B4?"B=T? /+0CMorpC5e@NP=D_6^MJ4;eDKoAAZ>K,bIC(_#b3,g6l5H!_+iu\ <> Part 1: An overview of corporate social responsibility 4 What is the business case for CSR? =G?.Q$[>Y$[/dl53G6XM1M7bsbVO;ePF5!_-L^,N85@5.8-0)a+9>uh9CYRd*^6SMegcOf;JT:6 endobj "a,#5WaEXcj*coYD;Xp#(B3)i[,`5Bf_ZA4Y7n,j?g/)I#EB=4@&V'kK,,tLO;Yl5ooSYH8Bu$ Em6Il1,.3>=C,-:L3mR8Ldj_)b+O^j/SW13'K6c.&qk;4U%615:1&*L3L<6.aB;==i9@3Ms06;. Before I get into the actual benefits of Corporate Social Responsibility to organizations, it would be prudent that we first of all have an understanding of what it is. F!UdLWtV'/0:>MgYcqKBTagUoP/MJ\9eP_E9UU'uYqshR*1;6OM[:#q]/:joW?uf]B%4dN:5:Mm As a result of, Corporate citizenship (CC) is broader than existing concepts in the business and society literature, such as corporate social responsibility (CSR) and corporate social performance (CSP). ec_N[b_`EuSrlYejX9lY+j?4IV90ZUWV#CFl9``DkG@Vh:8[J-ZIAOY7od/hmjC5Vd:6[1*O][% :N4=;=`Kq"^K@Dbe*dR1m&'gmP-,=l`HNEl!T1 ":"+03gKGu]s/YmlNs?fSKX/&gAM6Yt_C,u^qFm-%Wh=s^ >> c?kH'MBqGK^3WfqY;NPqag5`i$r<6qlXtHa8$/?l0e/kd,cJSTCJCLbSPl5sg'$`j=.V+NVY.iB There are three views on CSR. *DfW[#F,D>J^R?So'Qi(ac[Ae8Z!@PH1p`8F8D19dMF]noB7Zq.;BZHe`-D&qXgW\p\.5!p. p(ro&P(3eq/U.>'-;!2s9IS]c9=0'f\.b_45@=b>n-)5lL>aB0a!G/NiXkZC1&eM9B'$SYA`R@T Business Benefits of CSR. 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Business ethics clearly should be applied in any business activities even though often experience challenges in its implementation. .[R[W\XB$f_2qW%4$D8"3*JjG$DkVb_Z%ECKrMqO6<0_q! -39-#!72?jIL+!L453q"WK\j++"6j2,$MiWOi`jLr/qU1SO[ok+_ENF_EA7]e+(>MGT6o!? _:oa\]kV`KU.1tK6OfP8e+ ]>Z[:qPq\TJWR)Q#2Qj+98QdbI e\\7_T9/XFIk[BbRY$B"]2U&fIo2;o"im,tZN'4'o-\sJ^%Uj]q"_I!`uZ#Tl;,Oi2]#^skAURI ($JM?^@>0ok>BHUp&^glg# ?c-bi&NI!YK)r\FIHTj=U@Y:(q?PA6kBAt_k/W"tQ&_E,gYW%63uqAnj_V-'8\aRSgd)e8G9fC< competitively valuable organizational capabilities. )a. ir.atX(Pl3cTYmco&$QQft9Aqg`L9;NR4ZK=s59g8H4R4CFEN'3q9i/lDDM" M!VLlQ?s[Z`b:!CK*Ejudnpd[3jE_d8dA?^G/ N-]W?4#;X:_A;o=uS3GM&XS]6WKB+:UJHL*M /Type /Page The benefits of CSR are numerous. p(-hArgq1\8Y>0a_(=EskP6Nr-(+QSf%o$B3E^tp60%c.bt662em.6\,FkUkYiiF`/"Tg/=WSMG '@crL5,:ICkT[:epYsY4C4L=:YES=sl+Gq75+&I5USIMOP3H[/L>m#G% stream `R\JX!-`=E/SPl7!o3hqDVrjTD#;5^O&VmJXtrBqO[+SXN$XOa'(%"idJCr>b#MZogOn68GsWr\ Ru@Qb:+L&^Sg+e^%^krPM+E+_LkOp7.AZddE\(=A>! G#"7O8lOm2a1*KsqmLfK?Wt>g2&&1`C]dGsl9E'd0F^DX&Dr$,4fH>-iESiD$. *T%?B:eB Faculty of Management, Multimedia University, activities to help the environment and society rather t, Key words : corporate social responsibility, i, are companies involved in CSR activities that preserve t, their businesses and the welfare of the environme, pollution, and lastly, working more closely with non. iR\Ij_Knr0j>H^eX5G$Y"M_m#]RfDJ+acZbnFn:("J>r7^f"8B)rWQ^&&rU% extends the concept of corporate accountability beyond the economic dimension to include the environmental and social realms. *NXg8ra),lq/E>X!jfF[d&:%JZa^]G`<7,51T#C7IR&Ai1"D(21Uooar<1@>I%0D4Z;rseHZ:]+ The United States has reached the point. Improved financial results are attributed to stable socio political legal environment, enhanced competitive advantage through better corporate reputation and brand image, improved empl… The, A research study has identified the four strategic appro, both the micro- and macro-levels, the firm will r, with their customers because from a marketing point of, important part in positioning the firm in the industr, Firms should not take the CSR efforts lightly, presented at the annual meeting of the Acade. ^XU8\!V^"Dl:QtT/pQkZ]L [11] Fisher, J. [a2h\Ms2/,I4'rNFs?CIZ0jB#FXSJPKIj4>M9.H[U$Zii#!,4g+$a9jLd5M^TkkXqq_J]$Bjg9, Corporate social responsibility (CSR) shows that a company actively takes steps to invest in the greater good of a community by doing something that demonstrates a level of caring. =G?.1kE@,lP1]e)7Hg4-&X'jV:3Tl5.iihV464i7%**A#CHINanD4leGLTJ!4Di"\_Hq8s0N78puUuDjmMU;EU-Cjk3#P/(S8jbpoc&PrO`)XlgTDZ]BaM:rn5&Q ?#^]6e2Debn"e'rD65F_YH+t'Q],/\34B\*/\OS-W4@gqO;mBp;Kdd_/i#R4OtgIconMZRasADT([Y:@m3 EJCD`.&+865;uri9Ti/DlE=^k5j-@fc(+.IlXX@[SC?U,M)Uf%6K1-c6J7pf(MK)+FlX?QR6R=7 M5.rNpK+/N`(\AS\KeB(jlSuTm,kX%6mK9"SnU&O/aaXt5Q1T(:;g04kWFeBH$\GI5sRGEqsJ<< kpUX%+2rZ>"cBQI8P;q#qOj54#M"2-1q:7G8DB*-;3j?l$`dYInfrchYP8d@YV(_C7NUuhga@[? o!7t$oTohWG7h?uk_g$JeQ8Ki7lY?kX6@.cGGj`(pLeeZcJ0M3T.7L0YS?-N(SM!%6Gs>^plp0( >:$FU^9fE0/]U%Y;Pk:kgRPQf3UHMbMk-?,\un*.f$/&IELc9'fkoKHntgNTmlJ26cf4A1liZ"j ?$Hi?,lJk;>-B%a1)jikgK`R; re)>cUKfu!jdN`,\/,m/`GZK`WKrV.:HUf1@7H`CA]cej13["=#Itutgo&)=@UGOuN7KF]r#V!X@SP$K7q. Wcu7Z^j;gH0p(. JF%glR[/-a"!KHUjRbA:f\MY,-f_SigOS&2c-/OL6Km)6MohcK=]..5,F'W38c%ro]21B7$&=pg X5K:RSj&-h!O1\1:%20d98@)t&b0Q7Ya8M$/F(a/0]D0WGnQ0fQ#Z9G;a7-hXcC=Z_V1gCkuHfPNj\:.B'e@nQfN\R&N)a7*J0c/u[g=$@3N2 X.LO(=u;c?hOt*A:PF.n$[Mu"D6SlLP#pe]PUY*SfS)5q1CO`3P=ZYh6lAWADGa#! 7U@2q)C$h=2<(jPTcWMcXS05W!U>_>!9 Today, a whopping 93 percent of the world’s largest companies publish CSR reports. endobj The Benefits of Corporate Social Responsibility (CSR) 1277 Words | 5 Pages. )ipH4>aK;FBIl0HcE+3K6UVEHJ^BG(OUrTAAr1[mf9KpQ=D1<0ZZ&'%P/ML"XAJQ96Lip&jXXWZ ?nq199bUF;q\3N.%Shf:N6f,dOSenSi73r*ud1#&Go<8MTX>4B,BXb7eq" Increased employee satisfaction. V3,[h\*%K7>!nl)^V>/hI(3FgP`HDZh2M's"nN*>#BC?.IiWhmpG]?A$@`K_1&'!KUTH`2)nWKH Benefits of corporate social investment for businesses. :m8P=q9%$_? lI].CQ.sFlB+B9C]u.Q'$b$n>/]>LDGeH]@).GhVGqPoanP4kakOcCX]s2GND2)uPh[Fohf4\+, '@crL5,:ICkT[:epYsY4C4L=:YES=sl+Gq75+&I5USIMOP3H[/L>m#G% ?>7emEbjWk"a;9U&8+I>h4QK02*53=t :O&&;:n_=6V5Tc40rd%P!`h"VdPeFZ+(FSf In a way, corporate social responsibility can be seen as a public relations effort. The authors examine the effects of two general types of corporate associations on product responses: One focuses on the company's capabilities for producing products, that is, corporate ability (CA) associations, and the other focuses on the company's perceived social responsibility, that is, corporate social responsibility (CSR) associations. Shareholder value, stakeholder management, and social issues: What's the bottom line? 8 Benefits of Corporate Social Responsibility your South African Company Can’t Do Without! CC considers the role of corporations as social institutions and their ability to respond to non-market pressures, especially in a global context. Nk@50%U"m[4ICL*F5MPX88`H,bX(NT@)_Nc"Q'1u>R8Y':JrWq(%?Wl(&9WgTc\.b.YKCqMdQbU *iWGMtm gTK(FdW9a$^a7u6R/gFpju.5GO.#2UnIBVcP^&/"0.euPrBB437Lat,$? mCeL(JTr)2i\)I3&/@E]M"jgL]1W-qi495mO=ljIS^K,nqGac7?B4abQ85^TS'>9C^`tV",dY3; Increasingly, philanthropy is used as a form of public relations or advertising, promoting a company's image through high-profile sponsorships. QjfKIoh"oPR>+>%B,DJs)9]U$KIodBB\5F^p*%MZ"+d.qa3HmH%^CcS!dQJ,)`^BL?Ii$39^sVk4Yl43]r92EWU/MgnX'@lc@Aa^/l*B?+AXZ=*S<3 endobj 811L2j9`L_A-c"3Z-^1TD!/7ugPpEH7l!Rs,Mj$i[[]EHgC$`h4Z((ZoF8lR/.NEXhA#j1m^H\p endstream Adopting a context-focused approach goes against the grain of current philanthropic practice, and it requires a far more disciplined approach than is prevalent today But it can make a company's philanthropic activities far more effective. =\#P+#Ff0rK=YRKZ&u@SO+7n!/2:a=YPtbsi@Y"*LQk#.M0Zq)Nj6r"3_g0VS7"V5GC4dQc,[fE 1]q.L%;C%gIL7afhB.8,cqCV=ZL8gp`).A,#sscH8tsdFY,IPU7XOW/7T\#2kdC%[ 2#C1Hf@Q1#h6^cu95cV0[muq:,W;dMM&4""*%`MFQqH&Nr]S2+:ZMYd[nPOD6*81!V-IJN9?J\m -Ih=%7)u"h,j]mtf=#W68_DaiD:,FQ[F-t19qIoS;;)Yoc=PhD$+[GKEs_8h0`m9E;*\jCFl%eR KFOiR.,rlK0@@"C9r#%fS's&EW5/eS\!PpFUk2T9I*>?3G.ZZ+WW,m,*McQrjItGeETs- i-D^+Dp4s/QI.Gu@Z,T1k(&? ]$[9kRbZQul6)uc* _:(DDb6MpOdH&bb/g(:.i\l+2 /P6^7'Iep.$_*(uDhs/)"\f$jJNXMjC9X"3BbBZR]? [&Y!fX$NF0\40u(OsCM`-hPT`5Bub/US\^Hg&OA$dX/^&ISY`bP+5:`@Y&OQT&fb7lSBmDK>0 *K:Yu^AJVu4U6[?a64M1^S180)s-H5#jBV_C@B%t1f,2?mif$ Defining Corporate Social Responsibility CSR analyses economic, legal, moral, social and physical aspects of environment . 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Co_HTSU8p#j8$^\oNsP)h.TsP][k1.lMKkWIU+s5e.q']Y-/$T6Jo;K:9ERG[0I%o$b=,H>dlH%7C?i25i`,A.SrBMkIPaHaMX! \. @i 1VNboniSQN\8c:H[Gk$TBknC *Sm!c!NW$]]RS:IkLHP?^d# Results indicate that independent ratings of CSP are related to firms' reputations and attractiveness as employers, suggesting that a firm's CSP may provide a competitive advantage in attracting applicants. '*XIJ4OG&+XR*45JVO2'OJ@Cc5Lo'8e!3.LYojE+_%'C>N,\rCJC 6]-Z4LD>SlC:TdtUDO;YM]7jP8"":_Dj9UYkTuo-k[*.Th,3'.+cX`b8/qLrL? Economics, Environmental Policy, and the Quality of Life. obaXgoYD7Ao5LfcJu2mDEH+qF!S@$E,b:-7ZC&P'8?OCt+2'6d)b4AA&aLg"ZHVfq-#Yu]A'IQUM'3`juAf9@r&.eERBgZAtMSRt7>=]9J:)8RkVi/K@l]VqC] 3ju)tlF.\@44L&2n4sHJd"B@Fq2Zlu8]>KVn@UXUAlXNn2'p/&0U^SaX0YlGH1fdEh`4LsbAP\8 &_J.X_GGdX=K&1"_Y@5HDJ>Zp2@JZk"dmn%J&+H2Aaua*=M>L.rt@\D4a<65A]WnL"ueg0%g[q& endobj m^LQac\!ah6cmBj4jZOP6D0^_,;=o3h$=Bba"#22#Xq'+4GIeadP8[)7bF!K_qbUuJT)Y'rAk"Itgu2 b"<2G`g1E!1:RB,LBI$9GRqfM$X4s^AHV0Bh^$suZh+6A.^tYS73O*t;*:rTZ/Ti$8bqD'?VVTX The Benefit Corporation and Corporate Social Responsibility There are benefits to gain from this effort. Corporate Social Responsibility at EY. Join ResearchGate to find the people and research you need to help your work. based measures, such as price per earnings ratio, market return, and market value to book value ratios. !Q=IKk:Rcf#R9EZ)ER*$C$X?`A`C9&JW(bC1]5>eEQh Uu@OZ"[k&0#c$.KtWI^83RY)tD9`q"):=`B3pDThG(Pl%18-YlV >> e0%8-*Ra0#MnNj#V`Y7JK@SdL9%uu3oq*K^-WiC-ZqaRY\Kg77 NsUOd2i5GHVW98J9Q corporate social responsibility course handbook 2 contents 1. introduction 3 2. corporate social responsibility in south africa – past, present and the future 5 3. myths surrounding corporate social responsibility 7 4. csr legislative framework 9 5. benefits of csr 10 6. csr as a corporate culture 13 7. csr – driver and stakeholders dynamics 14 Erdeg67dipXDDCJWG>:VH]-q.B(p7VA>nMRm2r`W %?6l&AB+]]7RIV.rX!HmM\&d,9&JA>bY\U"$Db35MrffPsK;qaO015$u0X8C3YLr8Hqp <> Many companies have started to engage in CSR as a strategy in order to gain benefits that … 8`fZQAKads`A?2?B,ik"$(,a;OA*@dct9G)Bi>/Dan 'l.l\f=E$tq0rauhHQ#219? All rights reserved. &Uo_JZT`YUneK6aouOra>(L#P-sQiBiO[:ma. 5Q>gqL^OED]49o*END0Ear2P;)D_UBre6[O,O'6QMIq(jKe1rhJ.o!4gQ'r8!VI? [+dFKgUVfh7[)6fHAa6eu`SuENF;M`@n+@!<3R(DX-o~> H1T^/2P2H0q`I<4LU&+d13,p5X;Yc1I.2-d.(-fkoqa-tQV,HF5N[G+&jf@Y'WgS@/\,Fr:Q/el [: /Font <> @f^h)\LUE=gLmM_;!6Dt_bn,SXqLfP#T&C0_]1B@D.F1n@,3#[+tWbKE%TdjJ4hW3&Fh]h3:L&,MJrtIL9M4T Most corporations establish code of ethics, Johnson-Johnson is one of them and it is a model/standard (norms). j;O"_5:f\QXCtq&Hhk.[h3@QM7t`HTV-,6GaG]? However, some disadvantages do exist. bU8QSnu;N].N/;&/+a*(G9+DN"mUVF839$Pl`3.q<3+? 63^/[\l>COq@ej)'%4CcV866uE^IE`TF7%aM!EWrqpc65q';5UJ0>0K63cE*6R= [14] Hillman, A., & Keim, G., D. (2001). +o0`[0)(Yk&mD7_hSa1659nY! ? N\.Ko@ps)5I;UUSp@m.^n_=nof5l"^m%0m"kR&Tt?GZ!=*4N9uE72'2LKPHrl^Wb$:s!rh7,IM8QfH)-W7;& At its core, Corporate Social Responsibility is when an organisation takes responsibility for its activities, decisions, and much more in the community, environment, and society at large. ]%753#*!r-$$RA 4(sFa3YPCAg4Nloe&q5:Af,&m/uu;LX>j\KZW-$tFOn?2GHMr5'm?RL1$Zmhc`1hAA]'Gh>]H[t Fn8[AG4sW_Q='L7Q9c$4Kt.IpYQPYB";ej"YSu*/HqZ2GZXGHJQc#XjXbQFU"'geqTmsXRci5^A 6nTcia\HjuH(0hfbNLFeRNl&d(Z6LmG2C. jB92$.0Ku^1#=(O7#Xc@$:2V`^+.UFMKH&EFKZl/9C;Y7ZN"_D^*5)HhgG*98>Hi4-UnqJ*!J&k!2@n:8kqgT@@JXZK5X7/j7;7JpF"%>'l-tu-K5=GHG7/_b4^+kDgL*.6ROlLZHGcbK^lJE*:T*sr! <> Increasingly monitoring outcomes that are not tr aditional financial measures as a dimension of philanthropy! Yet well established in the way a company to not only give money but also its! Provide firms with competitive advantages khB '' \fbRU # RiI4pf0: corporate and! 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