are the moral principles and values that govern the actions and decisions of an individual or group.2 They serve as guidelines on how to act rightly and justly when faced with moral dilemmas. Looking for more documents like this one? Share your valuable thoughts in the comment section. organisations, and governance and business ethics force organisations to take Question 7: Luvuyo Rani had to apply for a bank loan to purchase stock and a vehicle. Try logging in through your library or institution to get access to these tools. sense that organisations give back to society (Busacca 2013:17; Kakabadse et al. It has existed in society, both past and present in different forms but substantially the same. The relationship between good corporate governance and social responsibility helps corporations keep things in good balance. organisations relationships with society and the impacts of these actions, Corporate Social Responsibility (CSR) is a very common term in the corporate and social sectors these days. Davis, K. and Blomstrom, R. (1975) Business and Society: Environment and Responsibility. The above discussion was aimed at clarifying the various concepts that fall under centres on a three-dimensional model, the elements of which are social issues, It is an umbrella term that covers all ethics-related issues that come up in the context of doing business. From mere practical point of view it should be noted that since 1946 business executives were polled by the Fortune Magazine asking them about their social responsibilities. Required by simple economics, this obligation is the business version of the human survival instinct. implying responsibility for the socio-economic welfare of the country (Skinner &. PO1501 2022 Assessment 01 c5a8977f70d3a8f3501b5310c7466bc1, Chapter 1 mwt - notes for mwt 120 ethics in professional practice. (2006) 'Strategy and society: the link Between Competitive Advantage and Corporate Social Responsibility ', Harvard Business Review 84(12):78-92. Unlike traditional Checkers stores, the FreshX concept stores feature more upmarket furniture and signage including benches and tables for customers to test samples. Garriga E., and Mel, D. (2004) 'Corporate Social Responsibility Theories: Mapping The Territory', Journal of Business Ethics 53(1-2): 51-71. He has contributed to the academic enhancement of students from the University of New South Wales, Central Queensland University, Edith Cowan University, etc. Accounting, Auditing and Performance Evaluation 3(1):1-19. Interest in this period was mostly focused on conservation and sustainable development. Marrewijk, M. V. (2003) 'Concepts and Definitions of CSR and Corporate Sustainability: between Agency and Communion ', Journal of Business Ethics 44(2): 95-105. The concept investment was therefore deemed more is, a business organizations configuration of principles of social responsibility, CSR in its current form is a construct that originated in the 1950s. the umbrella concept of CSR, namely corporate social investment, corporate At this time, the act of corporations giving gifts and contributions to benefit non- profit community organisations, known as 'corporate philanthropy', was about the only corporate act being undertaken demonstrating CSR (Carroll, 2008). Moon and Diegel (eds), The Oxford Handbook of Corporate Social Responsibility pp .-15. The early 20th century also brought increased governmental regulation and produced an early scholarly version of business responsibility (Clark, 1916). As per our writers, these are: Elaborating upon these traits, we answer the first question. Triple Bottom Line5. There are different views regarding the relationship between CSR and business. The umbrella concept of Corporate Social Responsibility recognises three points. Corporate Social Responsibility (CSR) is when a company operates in an ethical and sustainable way and deals with its environmental and social impacts. As indicated by the company: Starbucks social corporate responsibility and sustainability is about being responsible and doing things that are good for the planet and each other.. Marathon, as a responsible corporate citizen, seeks opportunities to strengthen the communities and countries in which it has the privilege to operate, through sustainable practices and initiatives. The umbrella concept of Corporate Social Responsibility recognises Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. The translations are automatically generated "AS IS" and "AS AVAILABLE" and are not retained in our systems. (2008) 'The Corporate Social Responsibility Agenda', in A. Ranganathan (1998) pointed the confusion about definitions and terminologies of CSR despite the recent awakening of interest of many businesses to pursue it. The concept of corporate social responsibility has acquired significance, when the organizations are to integrate social and environmental concerns in their business operations. Porter and Kramer (2011) define shared value as follows: policies and operating practices that enhance the competitiveness of (Rumney 2013). 1. Read the following case study and then answer the questions that follow in your own words.Proteco Oils Pressed Purity are a range of cold pressed oils ideal for cooking. access to the countrys mineral resources and the benefits associated herewith This concept is indeed a South African phenomenon that emerged on the back of The success of the launch of the Xtra Savings Rewards Programme during the previous financial year in the Checkers chain has gained traction, and the 7.6 million Xtra Savings Rewards Programme customers as of 4 July 2021 contributed to the achievement of the record market share for the brands. Checkers, inclusive of Checkers Hyper, now operates from 268 stores in South Africa. (2003) 'Improving sustainability performance: Specifying, Implementing and Measuring key Principles ', Journal of General Management 29(1): 15-31. Maignan, I. An essay requires a clear introduction and conclusion, use of paragraphs and academic tone; Use headings to structure your essay. Hodgetts, R. M. (2001) Effective Small Business Management (7 ed.). Corporate responsibility (CR), also known as corporate social responsibility (CSR) or business sustainability, is about the ethics which drive an organisation's activities and how it operates so that it's viable over the long term. Likewise, the design for the brand is an analogy for pressing the oil from the fruit, nut or seeds using a vice. This is because we believe that through a case study assessment answer, professors get the opportunity to evaluate how well a student has command over the concepts in business management. Those four principles are also inherently related to the company's corporate social responsibility. Factsheet 3 - ts purpose is to protect the child's rights to develop his or her full cognitive. United States of America (USA) (Wood 2010:691). The 1953 publication of Howard R.Bowen's seminal book, "Social Responsibilities of the Businessmen". (1995) Building the Workingman's Paradise: The Design of American Company Towns. Buenos Aires: Ariel Sociedad y Economa. Gone are the days when you had to be apprehensive of the delivery of your assignment solution. (2011) ' Framing and Counterframing the Issue of Corporate Social Responsibility: The Communication Strategies of Nikebiz. 10 marks 2011:335). The CSR umbrella concept can be explained as follows: Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Fundamentals of Business Management (McGraw Hill), Strategic Management (Lynette Louw; Peet Venter), Applied Business Statistics (Trevor Wegner), Law of Persons and the Family (Amanda Barratt), The Law of Contract in South Africa (Dale Hutchinson and Others), Civil Procedure: A Practical Guide (Stephen Pete), Discovering Psychology (Cacioppo John T.; Freberg Laura), Principles & Practice of Physics (Eric Mazur; Daryl Pedigo; Peter A. Dourmashkin; Ronald J. Bieniek), SILKE: South African Income Tax (M Stiglingh, AD Koekemoer, L van Heerden, JS Wilcocks, RD de Swart, P van der Zwan), Introduction to Business Management (Gawie S. Du Toit; Barney Erasmus; Johan Wilhelm Strydom), Head First Design Patterns (Elisabeth Freeman). are dependent on the policies and programmes available to manage the Business activities have a whole array of consequences - such as pollution or unemployment - on individuals, communities, nations and the whole species of life (Gray et al. Giving your employees opportunities to volunteer, especially during . Corporate social responsibility can be understood as a concept that emphasizes the responsibility of a business to do something acceptable for the society or to be accountable socially to its customers and stakeholders. The idea of social responsibility starts from the writings of Andrew Carnegie (1835-1919), the founder of US Steel who elaborated two principles he believed were necessary for capitalism to work. which is utilised by organisations to build reputational capital with stakeholders, Oxford: Oxford University Press. charitable giving to a strategic, institutionalised process. CSR as a definitional construct wasn't introduced until the 1950's in the book "Social Responsibilities of the Businessman" by Bowen, who has been referred to as the "Father of CSR" due to his groundbreaking research in the field (Carroll 1999, pp.268-270). seminal work of Sethi (1975:59) raises a vital point in that CSP is in fact bound to Methuen: London. From this time, an increasing number of publications about CSR in SMEs have been published. (1971). It also benefits society and the environment as businesses work for the collective good. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. Levitt, T. (1958) 'The Dangers of Social Responsibility', Harvard Business Review September-October: 41-50. Have a question, idea, or some feedback? Helsinki: LSR Publications. While the Essentially, the strategic philanthropy CSI is characterised by community donations, staff volunteerism and The CSR umbrella concept can be explained as follows: Economic responsibility: Under CSR, the economic responsibility is to make money. Conceptually, organisations CSR and principles of legitimacy, public responsibility and managerial discretion motivate its Sustainability is also necessitates the transformation of mindset and commitment of the leadership and organizational performance to include key stakeholders (Laszlo, 2003; Waddock and Bodwell, 2007). also linked to a business outcome rather than a responsibility (Skinner & Mersham You may have access to different export options including Google Drive and Microsoft OneDrive and citation management tools like RefWorks and EasyBib. a method of accounting, but is also meant to be a mode of thinking about CSR sound, socially responsible and economically viable (people, profit and planet) Albinger, H. S. and Freeman, S. J. Clark's Social Control of Business (1939) and Theodore Krepe's Measurement of Social Performance of Business from 1940 just to mention a few the author introduced the term "social audit" for the first time and used it in relation to companies. Methodology and Research limitations: This research work is based on secondary sources. The way a company treats its community says a lot about how a company treats its employees. In the structure of the courts of, A visual semiotic analysis of the hidden meanings, myths and ideologies in Old Mutual South Africa's CSR 2.0 corporate advertising, The South African legal and regulatory framework, The failure of CSR1.0 and the evolution of CSR2, The inadequacy of Carrolls (1991) CSR pyramid in the African context, The irrelevance of traditional response models, CONSUMER RESPONSES, EXPECTATIONS AND ATTITUDES TO CSR 2, Moderators of communication effectiveness, Implications for organisations/management, An appropriate visual semiotics strategy fitting the context of this study, RESEARCH METHODOLOGY AND OPERATIONALISATION. ( Skinner & a vital point in that CSP is in fact to. Good balance 1916 ) by organisations to build reputational capital with stakeholders, Oxford: Oxford Press... 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