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    Corporate Social Responsibility

    Search the Web

    One of the leading organizations promotingcorporate responsibility is Business for SocialResponsibility :www.bsr.org.

    http://www.bsr.org/http://www.bsr.org/

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    Corporate Social Responsibility

    (CSR)Preliminary definitions of CSR

    The impact of a companys actions on society

    Requires a manager to consider his acts interms of a whole social system, and holds himresponsible for the effects of his acts

    anywhere in that system

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    Corporate Social Responsibility (CSR)

    Business Criticism/ Social Response Cycle

    Factors in the Societal Environment

    Criticism ofBusiness

    Increased concern

    for the Social EnvironmentA Changed

    Social Contract

    Business Assumption of Corporate Social Responsibility

    Social Responsiveness, Social Performance, Corporate Citizenship

    A More Satisfied Society

    Fewer Factors Leading

    to Business Criticism

    Increased Expectations Leadingto More Criticism

    2-7

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    Corporate Social Responsibility

    (CSR)Historical Perspective

    Economic modelthe invisible hand of themarketplace protected societal interest

    Legal modellaws protected societal interests

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    Corporate Social Responsibility

    (CSR)Historical Perspective

    Modified the economic model

    Philanthropy

    Community obligations

    Paternalism

    Search the Web

    Milton Hershey was a leading example of anindividual who employed philanthropy, communityobligation and paternalism To learn more aboutMilton Hershey and the company, school and townhe built, log on to: http://www.miltonhershey.com/

    http://www.miltonhershey.com/http://www.miltonhershey.com/

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    Corporate Social Responsibility

    (CSR)

    Historical Perspective

    What was the main motivation?To keep government at arms length

    Search the Web

    Businesses are interested in CSR and one leading businessorganization that companies can join is Business for SocialResponsibility. To learn more about BSR, visit their web siteat:: http://www.bsr.org/

    http://www.bsr.org/http://www.bsr.org/

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    Corporate Social Responsibility

    (CSR)Historical Perspective

    From the 1950s to the present the concept

    of CSR has gained considerable acceptanceand the meaning has been broadened toinclude additional components

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    Corporate Social Responsibility

    (CSR)Evolving Viewpoints

    CSR considers the impact of the companys

    actions on society (Bauer)

    CSR requires decision makers to take actionsthat protect and improve the welfare of

    society as a whole along with their owninterests (Davis and Blomstrom)

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    Corporate Social Responsibility

    (CSR)

    Evolving Viewpoints

    CSR mandates that the corporation has notonly economic and legal obligations, but alsocertain responsibilities to society that extend

    beyond these obligations (McGuire)

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    Corporate Social Responsibility

    (CSR)Evolving Viewpoints

    CSR relates primarily to achieving outcomes from

    organizational decisions concerning specific issuesor problems, which by some normative standardhave beneficial rather than adverse effects uponpertinent corporate stakeholders. The normative

    correctness of the products of corporate action havebeen the main focus of CSR (Epstein)

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    Corporate Social Responsibility

    (CSR)Carrolls Four Part Definition

    CSR encompasses the economic, legal, ethical

    and discretionary (philanthropic) expectationsthat society has of organizations at a givenpoint in time

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    Corporate Social Responsibility (CSR)

    Carrolls Four Part Definition

    Understanding the Four Components

    Responsibility Societal

    Expectation

    Examples

    Economic Required Be profitable. Maximize sales,minimize costs, etc.

    Legal Required Obey laws and regulations.

    Ethical Expected Do what is right, fair and just.

    Discretionary

    (Philanthropic)

    Desired/

    Expected

    Be a good corporate citizen.

    Business and Society: Ethics and Stakeholder Management, 5E Carroll & Buchholtz

    Copyright 2003 by South-Western, a division of Thomson Learning. All rights reserved 2-16

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    Pyramid of CSR

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    Corporate Social Responsibility (CSR)

    CSR in Equation Form Is the Sum of:

    Economic Responsibilities (Make a profit)

    Legal Responsibilities (Obey the law)

    Ethical Responsibilities (Be ethical)

    Philanthropic Responsibilities (Good corporate citizen)

    CSR

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    Corporate Social Responsibility (CSR)

    Stakeholder View

    Stakeholder Group Addressed and Affected

    CSR

    Component

    Owners Con-

    sumers

    Employees Community Others

    Economic 1 4 2 3 5

    Legal 3 2 1 4 5

    Ethical 4 1 2 3 5

    Philanthropic 3 4 2 1 5

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    Corporate Social Responsibility (CSR)

    Arguments Against Restricts the free

    market goal of profit

    maximization Business is not

    equipped to handlesocial activities

    Dilutes the primaryaim of business

    Increase businesspower

    Limits the ability tocompete in a globalmarketplace

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    Corporate Social Responsibility (CSR)

    Arguments For Addresses social issues

    business caused and

    allows business to bepart of the solution

    Protects business self-interest

    Limits future governmentintervention

    Addresses issues by usingbusiness resources andexpertise

    Addresses issues by being

    proactive

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    Corporate Social Responsibility (CSR)

    Business Responsibilities in the 21stCentury Demonstrate a commitment to societys values and

    contribute to societys social, environmental, andeconomic goals through action.

    Insulate society from the negative impacts ofcompany operations, products and services.

    Share benefits of company activities with key

    stakeholders as well as with shareholders. Demonstrate that the company can make moremoney by doing the right thing.

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    Corporate Social Responsiveness

    Evolving Viewpoints

    Ackerman and Bauers action view

    Sethis three stage schema

    Fredericks CSR1, CSR2, and CSR3

    Epsteins process view

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    Corporate Social Performance

    Carrolls CSP model integrates economic concernsinto a social performance framework

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    Corporate Social Performance

    Extensions and Reformulations

    Wartick and Cochrans extensions

    Woods reformulations

    Swansons Reorientation

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    Corporate Social Performance

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    Corporate Social Performance

    Nonacademic Research Fortune's ranking of mostand leastadmired

    corporations

    Council on Economic Priorities CorporateConscience Awards

    Business EthicsMagazine Awards

    WalkerInformations Research on the impact

    of social responsibility

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    Corporate Citizenship

    Corporate citizenshipembraces all the facets ofcorporate social responsibility, responsiveness

    and performance

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    Socialand FinancialPerformance

    Good Corporate

    Social Performance

    Perspective 1: CSP Drives the Relationship

    Good Corporate

    Financial

    Performance

    Good Corporate

    Reputation

    Good Corporate

    Financial

    Performance

    Perspective 2: CFP Drives the Relationship

    Good Corporate

    Social

    Performance

    Good Corporate

    Reputation

    Good Corporate

    Social Performance

    Perspective 3: Interactive Relationship Among CSP, CFP, and CR

    Good Corporate

    Financial

    Performance

    Good Corporate

    Reputation

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    Social and Financial Performance

    A Multiple Bottom-Line Perspective

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    Socially Conscious or Ethical

    Investing

    Social screening is a technique used to

    screen firms for investment purposes

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    Selected Key Terms

    Business for SocialResponsibility

    Community obligations

    Corporate Citizenship

    Corporate socialresponsibility Corporatesocial responsiveness

    Corporate socialperformance

    Economic, legal, ethicaland discretionary

    responsibilities Paternalism

    Philanthropy

    Pyramid of CSR

    Socially consciousinvesting


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