Levi’s approach is to reduce their environmental footprint by acting in human rights and environmental causes. But still majority have just been taking up some form of philanthropic activities for its stakeholders. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 23 0 R 24 0 R 25 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> In the examples above we have seen how different companies take different approaches. Request more info from Involve and start accomplishing your CSR goals today. Below we break down ten examples of Corporate Social Responsibility, both the good and the bad. They plan to do this by creating programs such as “The Schools Environmental Education Development Project” to help raise awareness of social and environmental issues. Examples of Corporate Social Responsibility As mentioned, a strong CSR initiative benefits everyone. 9 Potential benefits of implementing a CSR approach 11 Real firms are reporting real benefits from CSR 13 What is the relationship between CSR and the law? As one of the most reputable companies in the world, Lego aims to not only help children develop through creative play, but foster a healthy planet. HP’s [...], MBC 703 –CORPORATE FINANCE & ACCOUNTS ASSIGNMENT: The Primary goal of a firm has been held out to be shareholder wealth maximization which translates to maximizing stock prices. 16 students ordered this very topic and got original papers. -Table 2: Corporate … Key takeaway: Seek ways to learn from competitors instead of trying to bring them down. The company isn't just addressing environmental needs, either. A whole movement has developed to cover a range of ethical practice which is now labelled under [...], Ethics The three corporate policies are; tuition coverage, have a mentor, be a mentor and community investment initiative. What other brands do a great job of CSR? Hilton’s secret sauce in their CSR initiatives lies in how they treat their employees. If businesses don’t treat their workers well, they’ll leave. 2 0 obj They have saved over one billion liters of water and hope to better improve their manufacturing process by 2020. organisations to be more socially responsible has been societal and environmental changes external to the firm. It has made positive changes to its supply chain and invested in non-fossil fueled trucks, with an overall deficit target of 25% of its carbon footprint by 2020. Key takeaway: Avoid coercive tactics to motivate employees and inspire them to do their best work instead. Hilton treats every employee with the same world-class service they provide to their customers. CSR is broadly grounded in an understanding of business being part of society. using management frameworks. The scandal was well-publicized and Facebook has been working to mend its reputation ever since. Instead of giving out prizes to survey takers, SurveyMonkey donates 50 cents for every survey completed. ( https://www.hks.harvard.edu/m-rcbg/CSRI/publications/report_12_CGI%20Role%20of%20Business%20in%20Society%20Report%20FINAL%2010-03-06.pdf ) Friedman, M. (1970), “The Social Responsibility of Business is to Increase its Profits”, The New York Times Magazine, September 13, 1970, pp 122-126. International Organisation for Standardization 2010, Guidance Standard on Social Responsibility (ISO 26000). Starbucks developed the C.A.F.E practices program in partnership with Conservation International. C.A.F.E has a set of standards suppliers must meet in different aspects of their operations, including: These standards are measured and monitored across all Starbucks suppliers, and now 99% of coffee beans are ethically sourced. Levi’s has also trademarked their “Water