Corporate Social Responsibility Doc
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Added on 2020-11-23
Corporate Social Responsibility Doc
Added on 2020-11-23
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Corporate SocialResponsibility
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Define corporate social responsibility (CSR)...................................................................31.2 Describe background and changing attitudes to CSR......................................................41.3 Describe the regulatory framework for (CSR).................................................................41.4 Explain environmental issues in (CSR)............................................................................51.5 Explain economic and political issues in (CSR)..............................................................51.6 Explain social and community issues in (CSR)...............................................................6TASK 2............................................................................................................................................62.1 Assess the benefits of CSR to employees.........................................................................62.2 Analyse the impact of CSR on the supply chain..............................................................72.3 Explain how a CSR policy impacts on business performance........................................72.4 Explain how CSR impacts on marketing strategy............................................................82.5 Assess the potential conflicts which may arise between the needs and expectations ofdifferent stakeholders.............................................................................................................8TASK 3 ...........................................................................................................................................93.1 Review the CSR policy of a specific business.................................................................93.2 Assess the extent of voluntarism in CSR policy............................................................103.3 Recommend changes to CSR policy to benefit different stakeholders..........................103.4 Assess the potential impact of changes in CSR on business performance.....................10CONCLUSION .............................................................................................................................11REFERENCES................................................................................................................................1
INTRODUCTIONThe drastic change in image of business in recent years has influenced initiative of socialresponsibility in the business environment. With an increasing pace of industrialization and highmarket dynamics with immense competition has lead employers to be more concerned about lossof productivity due to avoidance of health and safety measures leading to accidents and sicknessor stoppage of work due to bad relationship. Thus, to overcome these problems and to integrateeconomic,social and environment imperatives of their business activities employers follow CSR.Corporate Social Responsibility is an approach that address various topics related to humanrights,health and safety, corporate governance, environmental effects etc. that helps indevelopment of society, business and its stakeholders. This assignment will explain the currentCSR issues that are being faced by a business along with its impact on the interest of its variousstakeholders. Report will also recommend for potential responsibility of business practices(Bartlett and Devin, 2011.). TASK 11.1 Define corporate social responsibility (CSR)Corporate Social Responsibility is a legal framework which contributes to the sustainabledevelopment of a business by improving and enhancing economic, social and environmentalbenefits of all its stakeholders. It is an approach which is being followed by a firm to solvevarious issues that are been faced by society and to provide certain additional services to itspeople. It involves concept of development that cater present requirements of people withoutcompromising on future needs of next generation. CSR overlaps many features includingcorporate sustainability, responsibility, citizenship besides HRM practices, health and safety ,environmental protection, community development, consumer an labour protection, businessethics etc. Thus, CSR aims towards leading a business with obligation to do what is correct, just,fair and to obviate or reduce any harm done to stakeholders, society or planet. Thus, CSR is theresponsibility of every firm to minimize the damage that has been created by conduct of itsbusiness activities on environment and society and to work towards a holistic approach forfulfilling firm's economic, social, legal, ethical and philanthropic duties.
1.2 Describe background and changing attitudes to CSROrganization for economic corporation and development conventions was established in1960. The sole purpose of legislations is to attain high sustainable economic growth andemployment. Besides this it also aims towards enhancing standard of living of people of themember nations and also to maintain overall financial stability. Since then till today CSR hasnow developed into CSP. Corporate Social Performance is a function that perfectly balancesbetween nature of social issues and it corresponding structures and strategies. Thus it leads tointergeneration of various elements including stakeholder management, issue management andcorporate social responsiveness that a firm is required to undertake (Benn and Bolton, 2011). 1.3 Describe the regulatory framework for (CSR)ISO 26000 Social responsibility- voluntarily guidance:The ISO 26000 is an intentional standard that aims towards encouraging business toapply social responsibility practices for improving negative impact of business on its workforce,environment and society. This indicates business to perform in an ethical and clear manner andto function in a socially accountable manner. Environmental Protection:CSR and environmental management provides practical resources for an increasing no offirms that are concerned with social and environmental accountability for sustainabledevelopment of a business. In accordance with regulatory framework of CSR, a firm isresponsible and adhered by its duty to work towards protecting environment from the impact ofits business activities. Health and Safety Legislation: CSR comprises a number of legislation for health and safety of human being andanimals. It involves several provisions and benefits that relates to occupational injuries andillness of workers that a firm is adhered to apply and provide to its staff. Also it involves variouspenalties and punishment for a business in case of breach or non compliance of the laws. Human Right Legislation: It provides a shield to employees to get protected from experiencing any kind ofdiscrimination based on caste, gender, religion, nationality etc. at their workplace. An employeris forbid to differentiate between any of its employee and is under obligation to provide equal
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