csr by jide
TRANSCRIPT
By Babajide Olanrewaju
AFFINNIH
Corporate social responsibility (CSR) refers to business practices involving initiatives
that benefit society.
A business's CSR can encompass a wide variety of tactics, from giving away a
portion of a company's proceeds to charity, to implementing "greener" business
operations.
Social responsibility is the idea that businesses should balance profit-making
activities with activities that benefits society;
Additionally, some investors use a company's social responsibility, or lack thereof, as
an investment criterion. As such, a dedication to social responsibility can actually
turn into profits, as the idea inspires investors to invest and consumers to purchase
goods and services from the company.
Put simply, social responsibility helps companies develop a good reputation.
WHAT IS “CORPORATE SOCIAL RESPONSIBILTY” ?
KEY ISSUES IN CSR Labour rights:
child labour forced labour right to organise safety and health
Environmental conditions water & air emissions climate change
Human rights cooperation with paramilitary forces complicity in extra-judicial killings
Poverty Alleviation job creation public revenues skills and technology
Canadian Government:
“CSR is generally understood to be the way a company achieves a balance or integration of economic, environmental and social imperatives while at the same time addressing shareholder and stakeholder expectations.”
VARIOUS DEFINATIONS OF CSR….
World Business Council for Sustainable Dev., 2000:
“The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce, and their families, as well as of the local community and society at large.”
VARIOUS DEFINATIONS OF CSR….
SOME BASIC CONCEPTS OF CSR…
Social Contract Theory
Stakeholder Theory Legitimacy Theory
SOME BASIC CONCEPTS OF CSR…
Social Contract Theory – There is a silent social contract between the firm and society; the contract bestows certain rights in exchange for certain responsibilities.
Stakeholder Theory – A stakeholder is “any group or individual who can affect or is affected by the achievement of an organisation’s purpose.” Argues that it is in the company’s strategic interest to respect the interests of all its stakeholders.
SOME BASIC CONCEPTS OF CSR…
Legitimacy Theory – defined as a generalized
perception or assumption that the actions of an entity
are desirable, proper, or appropriate within some
socially constructed system of norms, values, beliefs and
definitions.
“CSR is generally understood to be the way a company achieves a balance or integration of economic, environmental and social imperatives (something that must be done, because it is right) while at the same time addressing shareholder and stakeholder expectations.”
Canadian Government sees ;
- Strategic & Financial Planning- Profit making within the law- Good Corporate Governance- True Financials- Good Ethical Standards- Regulator/ Law Abiding
Economic Imperatives
- Use of Resources- Handling Waste- Beautification Programmes- Emission/ Pollution- Efficient use of facilities- Environmental Accounting
Environmental Imperatives
- Community Development- Job Creation- Employee Satisfaction- Health & Safety Standards- Customer Satisfaction- Fair Advertising- Healthy Competition- Shareholder & Stakeholder relationship
Social Imperatives
Strategic and financial planning
Profit making with the law
Employee Satisfaction
Community
Regulator/ Law Abiding
Good Ethical Standards
True Financials Good Corporate Governance
Health & Safety Standards
Healthy Competition
Customer Satisfaction
Handling Waste
Efficient facilitiesEmission/ Pollution
Use of Resources
Corporate Social Responsibility: The Integrated Approach to Business in the 21st Century
Environmental Accounting
Share & Stakeholder relationshipJob
Creation
Some Basic Principles to hold on to…….
H - Honesty
O – Open
T - Trust
F - Fair
CSR Reaches
External CSR
Internal CSR
Corporations of the world focuses more on this aspect of CSR because it shows the company in a good light. It relates to environmental and social practices that help to strengthen the firms legitimacy and reputation among its external stakeholders. External CSR also includes a company’s financial reports; how honest are these reports? Because diverse stakeholders make use of these financials to make lots of life-changing decisions.
External CSR:
Corporations need not be told their responsibilities on these fronts; Other examples include, • Job Creation,• Corporate Philanthropy, • Sponsorship, • Fair Advertising,• Donations, • Volunteerism Etc.
External CSR:
Focuses inside the organization: what can be done internally to improve the well-being of the workforce, their lives and productivity as well as its impact on profitability. It indicates the policies and practices of an organization that are related to the psychological and physiological well-being of its employees.
Internal CSR:
From several studies around the world it has been shown that when the CSR strategy is aligned with the company’s core business it can lead to a wide range of bottom line benefits, such as increased employee motivation and retention, higher productivity, reduced absenteeism and more efficient environmental-friendly production techniques among many others.
Internal CSR:
Some of the Policies and practices include:• Staff rights, • Employee health & Safety, • Staff work-life Balance,• Employees training,• Equal Opportunity & fairness Etc.
Internal CSR:
Improves public image – Strong Corporate Reputation
Increases media coverage
Reducing Risk & Operating Cost
Boost Employee’s Engagement to enhance productivity
Attracts & Retain Investors
Influence buying decisions of customers
Reduces regulatory oversight
Benefits of CSR to the Company…….
Promotes Self-drive;
Positive workplace environment;
Increases Creativity;
Encourages professional & personal Growth
Benefits of CSR to the Employee…….
Lack of initiative by the government;
Unethical business practices e.g. Dishonesty, embezzlement,
smuggling etc.;
Lack of professionalism in management style;
Profit maximization pursuit only;
Relative small size of businesses.
CSR will not be possible when …….
FIGURES FROM FINANCIALS……
NIGER INSURANCE……
Donations:The company made the following donations to charitable organization during the year:-
N
Institute of Directors 350,000Excellence on Education Conference 2015 1,000,000Home maker lifestyle and empowerment workshop 50,000Brazilian Carnival 100,000
1,900,000
A Thought on Mutual Benefits Ass. PLC……
AXA MANSARD…..
Organizations:
31-Dec-2015
PIUTA Centre, UCH, Ibadan
2,000,000
Living Fountain Orphanage
200,000
Emerald High School
50,000
West African College of Surgeons, Community Outreach Program 1,172,000
Sickle Cell Club
250,000
Centre for Insurance and Financial Management Studies
3,897,224
Seyi Akinwunmi Charity Mini-Tournament
100,000
Ganiyat Ogunfoworin Charity Foundation Tournament
100,000
Nigeria Special Olympics
198,000
Corona Schools 2
50,000
Standard Bearer's School
50,000
Children International School
100,000
Enactus (formerly known as SIFE Foundation GTE) 500,000
8,867,224
MUTUAL BENEFITS ASSURANCE PLC…..
Oganisations:
TOTAL
Support for the projects of Rotary Club of Gbagada South 1,000,000.00
Sponsorship of the 12th Aret Adams Foundation Lecture 544,500.00
Donation for Fiyinfoluwa Twins' Eye Surgery
230,000.00
Donation to Junior Chamber International (JCI) Eko Chapter
100,000.00
Sponsorship of IOD's 2015 Annual Directors' Conference 1,000,000.00
Support to Chioma Ajunwa Foundation for the
development of Future Olympic Heroes and Heroines
250,000.00
Donation to Staddon School's 1st Inter-House Sports Competition 50,000.00
Sponsorship of Ikeja Golf Club's 2015
Corporate Challenge Tournament
200,000.00
TOTAL
3,374,500.00
27
Prof. Pat Utomi, Director, MUTUAL BENEFITS, Dr. Akin Ogunbiyi, GMD, MUTUAL BENEFITS, Rev (Mrs.) Dele George, Proprietress, Little Saints Orphanage and some
Children of Little Saints Orphanage
28
Sponsorship of the maiden Edition of the National Youth Games, Abuja
29
MUTUAL BENEFITS sponsored the Nigerian delegates to the 2014 Commonwealth Games in Glasgow
30
Sponsorship of the10th Biennial Police Games, P/Harcourt
Donation of State-of-the-art Badminton Complex to the Police College, Ikeja
31
• Sponsorship of the Nigeria Rowing, Canoe and Sailing Federation competitions.
• Donation of Twenty customized Kayak boats and Paddles.
32Donation of the State-of the- Art Eye Equipment to Gbagada General Hospital, Lagos.
Holistically speaking; CSR has evolved, and we need to know that it goes beyond what we are portraying to the public.
It is also time to look inward; at our policies, our practices, our reports, our processes, our strategies Etc.
Do these policies, practices, reports pass the H.O.T.F Principles?
Because, when we get it right internally it will surely reflect on the outside.
Final Thought……
