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The concept of corporate social responsibilitythat businesses should both self-regulate and benefit their communities, goes back to before the s. Shortly thereafter, inthe Supreme Court ruling that corporations were legal persons citizens protected by the Constitution negated that right.
So if being a good corporate citizen is voluntary, and presumably costly, why would any corporation choose to do so? The answer is a fairly simple one: And it is paying off. But how are they doing it? How are they benefiting?
And how can you follow their leads? Just look at these three great examples of corporate social responsibility. For example, Google Green is a corporate effort to use resources efficiently and support renewable power.
But recycling and turning off the lights does more for Google than lower costs. Investments in these efforts have real-world effects on the bottom line.
Google has seen an overall drop in power requirements for their data centers by an average of 50 percent. These savings can then be redirected to other areas of the business or to investors.
Installing energy-efficient lights, allowing telecommuting, and recycling will not only improve your world, it will result in quantifiable cost savings that you can see in the bottom line. Xerox The printing giant offers many programs supporting corporate social responsibility.
Their Community Involvement Program encourages it by directly involving employees. Sincemore than half a million Xerox employees have participated in the program.
The return for Xerox comes not only in community recognition, but also in the commitment employees feel when causes they care for are supported by their employers. By incorporating a limited number of billable hours per year for volunteer efforts, you will enjoy the dual effects of helping your community as well as increasing your employee morale and therefore productivity.
Perhaps organizing large group activities for charities such as Habitat for Humanity can bring your group together, and you can spread your name with inexpensive event T-shirts. Sure, mega-corporations can have volunteer programs or philanthropic arms that focus on big-picture issues, but that seems so highbrow.
If that is how you think, then take a look at Target. While many shoppers may think of it as just another big-box retailer, Target is more than just a place to buy tires and milk, they are a prime example of corporate social responsibility.
SinceTarget has been committing more and more effort and assets toward local and environmental support for the communities in which they have stores. By supporting any good cause in your community, you provide two important factors that pay dividends.
You have employees who are proud to work for you and clients who are proud to be associated with you. The financial return of either can be many orders of magnitude. Bring These CSR Examples Home Many of these programs, such as allotted time for volunteer work and community donations which Autodesk does with its Autodesk Foundation can begin as small-scale efforts.
The cost to the bottom line will quickly be reimbursed when you see your socially active employees producing more and your supported community engaging with your firm.
The bonus is that they will get so much in return.The social responsibility movement arose particularly during the s with increased public consciousness about the role of business in helping to cultivate and maintain highly ethical practices in society and particularly in the natural environment.
The Pyramid of Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders Archie B.
Carroll F or the better part of 30 years now, corpo- rate executives have struggled with the issue of the firm's responsibility to its soci- ety. CSET Business - Ethical & Social Responsibility Chapter Exam Instructions Choose your answers to the questions and click 'Next' to see the next set of questions.
Today’s practice of Corporate Social Responsibility is seen as a practice that is only practice by the worlds largest corporations. However there are some great examples of small businesses throughout the World practicing the principle of CSR in a very real, practical way. A business should administer employee behavior and HR decisions in a manner that fits the law and establishes social responsibility.
By establishing policies and applying them fairly to all employees, a business owner creates a climate of fairness and equity. An amount that has to be paid or given up in order to get something.. In business, cost is usually a monetary valuation of (1) effort, (2) material, (3) resources, (4) time and utilities consumed, (5) risks incurred, and (6) opportunity forgone in production and delivery of a good or service.
All expenses are costs, but not all costs (such as those incurred in acquisition of an income.