Social Responsibility and Business

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Social Responsibility and Business
St. Francis Xavier University
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CSR

• The popularity of corporate social responsibility
  means firms must respond to investor, consumer
  and employee expectations IBMs Corporate Social
  Responsibility study
• Given answers to the question Does a firm have a
  social responsibility? many businesses ask How
  does a firm act socially responsible?
• In this context Ch. 3 may be a useful model for
  implementing social responsibility in the
  organization

St. Francis Xavier University
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CSR

• According to Corporate Responsibility Index,
• Corporate responsibility is achieved when a
  business adapts all of its practices to ensure
  that it operates in ways that meet, or exceed,
  the ethical, legal, commercial and public
  expectations that society has of business.
• To be considered effective, corporate
  responsibility must be an integrated part of
  day-to-day business, engaging all stakeholders
  and including strategies to support individual
  managers to make socially responsible decisions,
  conform to ethical behaviour and obey the law.

St. Francis Xavier University
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CSR

• Responsibility

Community
Environment
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Employees
Consumers
Investors
or law?
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Approaches to CSR
Lowest Level of Social Responsibility
Obstructionist Defensive Accommodative -
Proactive
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Highest Level of Social Responsibility
Suggests C.S.R. is a part of the general
management of the firm and thus relevant to
corporate governance