TALM International

Corporate Social Responsibility

Many people in todays society have lost faith in Corporations and Government. While we cannot change Government except through elections, we can change Corporations and their image through Corporate Social Responsibility.

We help from small mom and pop businesses to large corporations create a program that s both beneficial to the businesses but also to the community at large. For me information, please contact us.

What is Corporate Social Responsibility?

As per Wikipedia:

Corporate social responsibility (CSR, also called corporate sustainability, sustainable business, corporate conscience, corporate citizenship or responsible business)[1] is a type of international private business self-regulation.[2] While once it was possible to describe CSR as an internal organisational policy or a corporate ethic strategy[3], that time has passed as various international laws have been developed and various organisations have used their authority to push it beyond individual or even industry-wide initiatives. While it has been considered a form of corporate self-regulation[4] for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organisations, to mandatory schemes at regional, national and even transnational levels.
Considered at the organisational level, CSR is an organisational policy. As such, it must align with and be integrated into a business model to be successful. With some models, a firm's implementation of CSR goes beyond compliance with regulatory requirements, and engages in "actions that appear to further some social good, beyond the interests of the firm and that which is required by law".[5][6] The choices of 'complying' with the law, failing to comply, and 'going beyond' are three distinct strategic organisational choices. While in many areas such as environmental or labor regulations, employers may choose to comply with the law, or go beyond the law, other organisations may choose to flout the law. These organisations are taking on clear legal risks. The nature of the legal risk, however, changes when attention is paid to soft law.[7] Soft law may incur legal liability particularly when businesses make misleading claims about their sustainability or other ethical credentials and practices. Overall, businesses may engage in CSR for strategic or ethical purposes. From a strategic perspective, the aim is to increase long-term profits and shareholder trust through positive public relations and high ethical standards to reduce business and legal risk by taking responsibility for corporate actions. CSR strategies encourage the company to make a positive impact on the environment and stakeholders including consumers, employees, investors, communities, and others.[8] From an ethical perspective, some businesses will adopt CSR policies and practices because of ethical beliefs of senior management. For example, a CEO may believe that harming the environment is ethically objectionable.[9]
Proponents argue that corporations increase long-term profits by operating with a CSR perspective, while critics argue that CSR distracts from businesses' economic role. A 2000 study compared existing econometric studies of the relationship between social and financial performance, concluding that the contradictory results of previous studies reporting positive, negative, and neutral financial impact, were due to flawed empirical analysis and claimed when the study is properly specified, CSR has a neutral impact on financial outcomes.[10] Critics[11][12] questioned the "lofty" and sometimes "unrealistic expectations" in CSR.[13] or that CSR is merely window-dressing, or an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. In line with this critical perspective, political and sociological institutionalists became interested in CSR in the context of theories of globalization, neoliberalism and late capitalism. Some institutionalists viewed CSR as a form of capitalist legitimacy and in particular point out that what began as a social movement against uninhibited corporate power was transformed by corporations into a 'business model' and a 'risk management' device, often with questionable results.[14]
CSR is titled to aid an organization's mission as well as serve as a guide to what the company represents for its consumers. Business ethics is the part of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. ISO 26000 is the recognized international standard for CSR. Public sector organizations (the United Nations for example) adhere to the triple bottom line (TBL). It is widely accepted that CSR adheres to similar principles, but with no formal act of legislation.

References:

  1. Wood, Donna J. (1991). "Corporate Social Performance Revisited". The Academy of Management Review. 16 (4): 691–718. doi:10.2307/258977. JSTOR 258977.
  2. Jump up
    ^ Sheehy, Benedict (2015-10-01). "Defining CSR: Problems and Solutions". Journal of Business Ethics. 131 (3): 625–648. doi:10.1007/s10551-014-2281-x. ISSN 0167-4544.
  3. Jump up
    ^ N. Malhotra (of Stanford GSB); J. Dann (Jul 1, 2009). "Business Ethics Integral to Corporate Strategy, says Stanford's Malhotra". cbsnews.com. Archived from the original on March 18, 2017. Retrieved Aug 14, 2018. “[BNET:] Ethics as central to overall corporate strategy--is that conventional wisdom or is that a new approach? [Professor:] I think a lot of students think, "Ethics is a constraint on profits." A lot of corporate social responsibility is taught as a part of marketing.”
  4. Jump up
    ^ Sheehy, Benedict (2012). "Understanding CSR: An Empirical Study of Private Regulation" (PDF). Monash University Law Review. 38: 103–127.
  5. Jump up
    ^ McWilliams, Abagail; Siegel, Donald (2001). "Corporate social responsibility: A theory of the firm perspective". Academy of Management Review. 26 (1): 117–127. doi:10.5465/amr.2001.4011987.
  6. Jump up
    ^ McWilliams, Abagail; Siegel, Donald; Wright, Patrick M. (March 2006). "Corporate Social Responsibility: International Perspectives" (PDF). Working Papers (0604). Troy, New York: Department of Economics, Rensselaer Polytechnic Institute.
  7. Jump up
    ^ Klarsfeld, A., Delpuech, C. (2008). Hard law, soft law, weak law: the implications of the neo-institutional and social regulation theories on CSR and the distinction between hard and soft law, Working Paper, Toulouse Business School
  8. Jump up
    ^ Farrington, Thomas; Curran, Ross; Gori, Keith; O'Gorman, Kevin D.; Queenan, C. Jane (2017). "Corporate social responsibility: reviewed, rated, revised". International Journal of Contemporary Hospitality Management. 29 (1): 30–47. doi:10.1108/IJCHM-05-2015-0236. Retrieved 19 January 2018.
  9. Jump up
    ^ Paumgarten, Nick (2016-09-12). "Patagonia's Philosopher-King". The New Yorker. ISSN 0028-792X. Retrieved 2018-04-24.
  10. Jump up
    ^ McWilliams, Abagail; Siegel, Donald (6 April 2000). "Corporate social responsibility and financial performance: correlation or misspecification?". Strategic Management Journal. 21 (5): 603–609. doi:10.1002/(SICI)1097-0266(200005)21:5<603::AID-SMJ101>3.0.CO;2-3.
  11. Jump up
    ^ Beatty, Jeffrey F.; Samuelson, Susan S. (2009). Introduction to Business Law. Cengage Learning.
  12. Jump up
    ^ Rosenberg, Matthew J. (1 April 2002). "Review of Misguided Virtue: False Notions of Corporate Social Responsibility". International Affairs. Archived from the original on 2013-05-29. Retrieved 2013-04-26.
  13. Jump up
    ^ Henderson, David (2001). Misguided Virtue: False Notions of Corporate Social Responsibility. Institute of Economic Affairs. p. 171. ISBN 0-255-365101.
  14. Jump up
    ^ Shamir, R. (2011). "Socially Responsible Private Regulation: World-Culture or World-Capitalism?". Law & Society Review. 45 (2): 313–336. doi:10.1111/j.1540-5893.2011.00439.x.