Pay special attention to the difference between these two models:Classical Model of Corporate Social Responsibility vs.Classical Model + Moral MinimumIn Google, do a search for the term "Corporate Social Responsibility" from educational sites only, that are available as a PDF file. Also, you will need to search for a second subject of you choice like: a country, or an industry, or a company, or a CEO, as examples.
So, for example, you are interested in a search about France, then in Google you would enter this:
France AND "corporate social responsibility" site:edu filetype:pdf
QUESTION 1: What was the complete query that you did? Please give us the query and in 2-3 sentences tell us the reason for choosing that query?
QUESTION 2: Choose 1 of those search results from your query and in 2-3 sentences give us a summary from that source in relation to the use of the term Corporate Social Responsibility.
Slide 1 Chapter 12 Corporate Social Responsibility © 2012 Pearson Education, Inc. All rights reserved. The Meaning of CSR • Corporation’s Economic Responsibilities – Producing goods and services – Providing jobs and good wages to the workforce while earning a profit – Seeking out supplies of raw materials – Discovering new resources and technological improvements and develop new products © 2012 Pearson Education, Inc. All rights reserved. The Meaning of CSR • The concept of corporate social responsibility is often expressed as – The voluntary assumption of responsibilities that • Go beyond the purely economic and legal responsibilities of business firms © 2012 Pearson Education, Inc. All rights reserved. The Meaning of CSR • Social responsibility is the – Selection of corporate goals and the evaluation of outcomes by the criteria of both • Profitability and organizational well-being • Ethical standards or judgments of social desirability. © 2012 Pearson Education, Inc. All rights reserved. Corporate Social Responsiveness • Corporate Social Responsiveness – The capacity of a corporation to respond to social pressures • A socially responsive corporation – Uses its resources to anticipate social issues • Develop policies, programs, and other means of dealing these issues © 2012 Pearson Education, Inc. All rights reserved. Friedman’s Argument Against CSR • Friedman’s main argument against CSR is that corporate executives are – Agents of the shareholders of the corporation • CSR causes the executives to: – Take on a role of imposing taxes and spending the proceeds • Proceeds belonging to elected officials © 2012 Pearson Education, Inc. All rights reserved. The Business Case for CSR • Arguments for the business case for CSR – CSR contributes to profitability because • The market rewards responsible behavior • The market punishes a company’s failures – CSR can be a source of competitive advantage © 2012 Pearson Education, Inc. All rights reserved. The Market for Virtue • If CSR is profitable then it’s profit opportunities should be sufficient to – Encourage managers to lead socially responsible companies • However, they must be made aware of the link between CSR and profitability. © 2012 Pearson Education, Inc. All rights reserved. Program Selection and Design • The guiding principles of strategic CSR are that – There is an interdependence between business and society • As a result there are opportunities for mutual benefit © 2012 Pearson Education, Inc. All rights reserved. Program Selection and Design • One important aspect of CSR is the management of reputation risk. – Companies need to identify the activities that could be the target of moral criticism • This is so issues can be anticipated and addressed quickly © 2012 Pearson Education, Inc. All rights reserved. Program Selection and Design • The most successful CSR programs – Make use of a company’s mission and core competencies • Truly strategic CSR identifies opportunities that fit with a company’s strategy. © 2012 Pearson Education, Inc. All rights reserved. Program Selection and Design • Successful CSR programs incorporate stakeholder engagement or dialogue. – Outside groups can be a resource • In expanding a company’s capabilities • In understanding the needs and outlook of others – Engaging them in the pursuit of mutual benefit © 2012 Pearson Education, Inc. All rights reserved. Reporting and Accountability • CSR has value – Only if it has the social benefits companies claim and outside groups want • The demand for measurement of social performance has given rise to – social and ethical auditing, accounting, and reporting and triple-bottom-line accounting