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Running head: CORPORATE SOCIAL RESPONSIBILITYCORPORATE SOCIALRESPONSIBILITY[Document subtitle][DATE][COMPANY NAME][Company address]
1CORPORATE SOCIAL RESPONSIBILITYTable of ContentsIntroduction....................................................................................................................................2Background..................................................................................................................................2Problem Statement.......................................................................................................................3Objectives of Study......................................................................................................................3About Company.............................................................................................................................3Mission and Vision......................................................................................................................3Methodology...................................................................................................................................5Corporate Social Responsibility...................................................................................................5Corporate Social Responsibility at Deloitte.................................................................................6Analysis and Findings....................................................................................................................7Conclusion and Recommendation................................................................................................8Conclusions..................................................................................................................................8Recommendations........................................................................................................................8REFERENCES............................................................................................................................10
2CORPORATE SOCIAL RESPONSIBILITYIntroductionBackgroundDeloitte is UK based multinational firm of professional services with its headquarters foroperations in New York City in United States. Deloitte is among the big four firms of accountingwhich offers financial advisory, enterprise risk, consulting, tax and audit. Since the company isworking to sustain its position at the top level in whole world. Members of Deloitte helped thesections of society, people and clients to attain the goals which are remarkable and solve theproblems which are complex and make the progress which are meaningful. Figure 1 Global Revenue of Deloitte
3CORPORATE SOCIAL RESPONSIBILITYThis report will analyze the CSR activities of the organization and will also provide therecommendation regarding CSR activities which should be implemented by Deloitte to have apositive effect on the environment, communities, employees and consumers, as well as to behaveethically with the customers and the society and follow spirit of law.Problem StatementThe problem statement for this study is to examine the activities of Corporate SocialResponsibility of Deloitte and to recommend the ways in which it can improve thoseresponsibility.Objectives of StudyTo identify the awareness level regarding the activities of Corporate SocialResponsibilityTo recognize challenges faced by Deloitte while implementing the Corporate SocialResponsibility.To identify the time consumed for activating the CSR program.About CompanyMission and VisionDeloitte aspires to be benchmark for Excellence and the first choice for every talent and client.The culture of Deloitte distinguishes the core principles which are succinctly described by sharedvalues which are timeless.IntegrityFor Deloitte, nothing is significant that their reputation as well as the behavior with high integritylevel. They demonstrate high commitment to responsible and sustainable practices of business.
Running Head: CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility Student’s Name Institution Date
CORPORATE SOCIAL RESPONSIBILITY2 Recently, Wells Fargo was condemned for creating accounts without the knowledge of its client. Such scandal suggest that the company does not adhere to key concepts of corporate social responsibility as suggested byAguinis & Glavas (2012), who postulated that CSR is based on the idea that business people make decisions that go beyond the strictly economic, technical or legal and must review their strategies accordingly. CSR, according toAguinis & Glavas (2012), is defined as a business approach that goes beyond strictly economic goals to include social and environmental goals. Wells Fargo is exercising the elements presented in agency theory whereby the company is expected to focus only on the shareholder value. This is evidenced by the fact that the company created accounts without client’s knowledge. Such act violates the social responsibility(Aguinis & Glavas 2012). Currently, companies are expected to adjust to modern changes in their corporate responsibilities and stop justifying immoral behavior by strict compliance with the law or internal procedures, by the geographical or technical limits of certain legislative texts or by a moral decorum that would only be a smokescreen. Perhaps Wells Fargo should adopt the stakeholder theory and understand all the key elements of corporate social responsibility Wells Fargo does not comply will all concepts of corporate social responsibility. For example,Bauman & Skitka (2012) revealed that making a profit at any price is not - and cannot - be the sole purpose of businesses.Wells Fargo ought to focus on other concepts of social responsibility related to the environment and social sphere. To avoid such scandals in future, Wells Fargo should apply the model proposed byVan Tonder (2006), which advises the companies and organizations to adhere to principles such as transparency, freedom, culpability, responsibility, fairness and social responsibility. Despite the fact that Wells Fargo’s acts are unacceptable, there is still a debate on whether the companies
Running head:CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility Student’s Name Name of University Author note
1CORPORATE SOCIAL RESPONSIBILITY Table of Contents 2.1 Key theories, Evidence, Concept, and Definitions....................................................................3 2.1.1 Ethical Perspective..............................................................................................................3 2.1.2 Instrumental Theories.........................................................................................................3 2.2 Arguments and debates..............................................................................................................4 2.2.1 Benefits of managing CSR..................................................................................................4 2.3 Frameworks...............................................................................................................................5 References........................................................................................................................................5
2CORPORATE SOCIAL RESPONSIBILITY 2.1 Key theories, Evidence, Concept, and Definitions 2.1.1 Ethical Perspective Wells Fargo was held responsible for the creation of multiple fraud savings and fake accounts without the permission or approval of the clients. The company was fined $185 million by Consumer Financial Protection Bureau. It could thus be understood that the company did not fulfill its corporate responsibilities for economic growth of the nation and social wellbeing. The major theories of CSR are aimed at doing something good for the society and gain the trust and loyalty of customers to influence their buying behaviors (Wellsfargo.com, 2018).The agency theory could allow the organization to improve value creation for the clients and shareholders or investors, though the accounts are created without the knowledge of clients and this has violated the corporate social responsibility rights. The stakeholder theory includes the organization’s management with the management of values and ethics required to fulfill the expectations of stakeholders and at the same time, abide by the legislations laws, rules and regulations (Brown & Forster, 2013). 2.1.2 Instrumental Theories The company was unable to meet the corporate social responsibilities, due to which, the clients got infuriated and it resulted in a huge scandal. To prevent such issues and manage proper values and ethics, Wells Fargo made sure to apply stakeholder theory to remain aligned with the policies, principles and frameworks (Ni & Van Wart, 2015). As stated byCheng, Ioannou & Serafeim(2014), this has been done for the promotion of transparency openness, fairness,
Running head: WORK ORGANIZATION Work Organization [An Individual Essay] Name of the student: Name of the university: Author note:
1WORK ORGANIZATION Question: ‘The notion of corporate social responsibility is a waste of time. Decision-making in organizations is generally done logically and ethically to achieve what should be their primary goal: maximizing shareholders’ financial returns’. Introduction Corporate social responsibility (CSR) is attained when the business adopts active and voluntary action towards economic, social and environmental developments. This is considered as being done for taking the advantage of opportunities and establishing a market reputation. Additionally, when the business succeed in fulfilling these three needs, the business is said to have possessed the three different levels of the triple bottom line (TBL). The fulfillment of the triple bottom line indicates that the business has attained the sustainability (Longoni & Cagliano, 2018). The question says that CSR is often called a waste activity to do and is a nonsense process. There are companies who publish reports on CSR works to let the world be aware of their social activeness. However, publishing a CSR report is also considered a waste of time. However, this essay takes a counter stand against these beliefs. Hence: “It is wrong to say that CSR is just a waste of time”. The essay tries to identify whether the notion mentioned in the chosen question is true. In serving the purpose, the essay follows an argumentative style to analyze the thesis statement from both positive and negative aspects. Body CSR is believed to be a way to get involved in caring about the community, the environment and the profit. Businesses across the globe are increasingly becoming concerned for the social responsibility. There can be various reasons for it. It can be for just to obey the laws. It can also be for fulfilling the demands of opinion formers, local communities, shareholders, customers, governments, NGOs, environment, and managing risk (Ni & Van Wart, 2015). For:- Corporate social responsibility (CSR) is not a waste but is rather needs of the community around the globe. This looks evident if evidence are gathered to support that CSR reduces the
2WORK ORGANIZATION social responsibility of consumers. For example, “Plastic Collective”, a venture formed by Louise went ahead to develop a mobile recycling machine to help the community develop the usable items from plastics found in the garbage. The purpose behind the innovation was to protect living animals from dying due to plastic wastes available in the seawater. It was also thought to create financial means for the community as they could earn by selling products made from such plastic wastes (Plastic Collective, 2018). In all these ways, “Plastic Collective” is not just recycling the plastic wastes and preventing animals from serious consequences but also easing out consumers’ responsibility towards the society. If CSR is just a waste practice to do, then how it is benefitting the community, the environment and the living creature. In Scotland, few companies are busy making roads of plastic wastes. They are giving preference to plastic remains over the ‘Asphalt’, which is one of the common substances being used in making of roads. Roads made of plastic wastes are much stronger compared to those made of Asphalt (Singh et al., 2017). Additionally, it is also helping in to reduce the amount of plastic wastes, which is increasingly growing with passing years. This innovative move is not just good for the environment, the people and the transportation means but also for the society who are supposed to take up the responsibility to become an active social agent. In Mexico, there are many campaigns being run from waste management to recycling to reduce obesity and conserve water. In addition, many awareness programs are also being conducted to help consumers realize their responsibility towards the environment and the society. Advertising campaigns are being used for awareness programs. There are many brands for just one product. Consumers sometimes intentionally purchase one of such brands, which distributes a portion of its profits to the environmental wellbeing such as protecting a jungle (Omicsonline.org, 2018). In this way, consumers are showing their responsibility towards a society of their interest by just having purchased the product. Some people like to donate for not- for-profit organizations. These organizations work in distinguished interests influenced from various social issues such as disabilities, child labor, human trafficking, critical diseases like AIDS and Cancer and a lot more. People are actually providing a social support to those affected from such social issues by just doing the donation (Omicsonline.org, 2018). Behind all these scenes, consumers are to give a little or minimal effort to be the socially responsible people. Real efforts have actually been mostly from organizations those that are active in CSR activities.
CORPORATE SOCIAL RESPONSIBILTY 1 Name Course Lecturer Date
CORPORATE SOCIAL RESPONSIBILTY 2 Corporate social responsibility In a business perspective, corporate social responsibility is defined as a self-regulating businessmodelthatcanbeemployedbyacompanyoranyorganizationtoenhance accountability to the company itself, to its relevant stakeholder and public as well. Corporate social responsibility is a tool that business organizations employ to ensure consciousness in relation to the impact they can have on all the dimensions and aspect of society that may include economic,socialandenvironmentallywise.Engagingandpracticeofcorporatesocial responsibility is one of the effective ways that organizations, both profit-making and non-profit making ones enhance society and the environment at large to avoid contributing negatively to it. “Corporate social responsibility (CSR) is an issue of growing interest, and the reporting of socially responsible activity is becoming more prevalent as investors, customers, and other stakeholders demand greater transparency about all aspects of the business. As the importance placed by stakeholders on socially responsible behaviour has increased, the attitude toward CSR has changed dramatically over the last few decades. According to(Polonsky & Jevons, 2009), there isa need for organizations to be considerate on the carefulness of the activities they undertake in a responsible manner as well as understanding how their stakeholders these activities in general. This explains what an effective corporate social responsibility means to a stakeholder, an investor or a customer. Reputation and organization image is a key factor that each management should consider to protect. Different activities relating to CSR have either a positive or negative impact on the corporate reputation on different groups of stakeholders, and this can alter the perception they have regarding a certain organization. Stakeholders’ perception is very significant when it comes to the success of an organization. “Corporate social responsibility has the power to influence these perceptions,
CORPORATE SOCIAL RESPONSIBILTY 3 therebycontributingtowardsmaximizingtheearningpotentialofcorporatereputation” (Unerman, 2008) For the recent past, stakeholders have given more attention to the issue regarding corporate social responsibility and it’s due to this; we have been having many businesses and organization stakeholders wanting to be associated with only the organizations that are deemed to be socially responsible. Moreover, the companies, as well as the individual business, are equating social responsibility with increased profitability. According to(Sprinkle & Maines, 2010)organizations and companies are being motivated to undertake socially responsible behavioursandactivitiesforsomereasonswhichtheycanuseas”windowdressing” opportunities to appease customers, stakeholders and potential investors to their firms. These include: 1.To motivate and retains current employees 2.To enhance customer related motivations since corporate social responsibility entices potential consumers to purchase organizations products and services 3.To enhance any potential benefits in relation to recruitment The driving force for organizations to enhance corporate social responsibility is to entice and encourage customers and all potential stakeholders for the above-mentioned benefits. On the other hand, when the organizations manage to appease various stakeholder groups, it also enjoys some positive effects resulting from the practice of cooperate social responsibility. This explains why organizations are fast growing their concern on the aspect of corporate social responsibility. According to(Weber, 2008)practising corporate social responsibility has in the long run been of great importance and significance to the individual organizations in the following aspect:
Corporate Social Responsibility
Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................4 CONCLUSION................................................................................................................................7 References:.......................................................................................................................................8
INTRODUCTION The corporate social responsibility in a company is very important to deal with the social causes. These company can easily build the brand value and build trust among their customers, consumers, etc. The Corporate Social Responsibility helps a company in the long run. This concept helps the corporation to do good. The CSR play a major role in different modern business organisation. In this report, we also discuss about the various corporation tax and investmentpractices and policies which are to be followed by different companies (Nave and Ferreira, 2019). There are also many different rules and regulation which are to be discussed and
Running head: DO CORPORATION HAVE A SOCIAL RESPONSIBILITY BEYOND OBEYING THE LAW Do corporations have a social responsibility beyond obeying the law Composition Student Name [Pick the date]
DO CORPORATION HAVE A SOCIAL RESPONSIBILITY BEYOND OBEYING THE LAW 1 Do corporations have a social responsibility beyond the law When we use the word corporate social responsibility it indicates that corporates have ethical, virtuous, and humanitarian accountabilities in accumulation to their accountabilities to make a reasonable return for stakeholders and obey the law. An old-style opinion of the corporation advises that its main, if not only, accountability is to its proprietors, or shareholders (Hoi, Wu & Zhang, 2013). Though, CSR necessitates corporates to accept a wider opinion of its accountabilities that comprises not only shareholders, but numerous other electorates as well, comprising workforces, dealers, consumers, the native community, resident, public, and national governments, ecological groups, and other exceptional attention groups (Wigley, 2008). Cooperatively, the numerous groups pretentious by the activities of a corporation are known as stakeholders. It is to be believed that corporates work for some purpose and earn the profit by completing or fulfilling that purpose. All the corporates work in some society or as a part of society, so its operation completely influence the atmosphere of the society in which it is working, it may be positive or negative. As all the corporate use all the resources of the society for its earning i,e men power, technology, and material so it becomes the duty of the corporation to return some favor to this society in the form of CSR activities. Every government of the world has fixed some percentage of the corporates income to spend on these CSR activities (Du, Bhattacharya & Sen, 2010). But in some case it has been seen thatpersons nowadays have less faith in their partisan and organizations than they obligate in years; various suppose corporate leaders to seal the opening and in some cases, it has been seen that government is not efficient enough to solve every problem of the society. Hence, in this case, only the corporations can recognize its social responsibility and open their door to solve this kind of social problem. The corporate should
Running head: CORPORATE SOCIAL RESPONSIBILITY CORPORATE SOCIAL RESONSIBILITY
CORPORATE SOCIAL RESPONSIBILITY1 Table of Contents Article 1...........................................................................................................................................2 Article 2...........................................................................................................................................2 Article 3...........................................................................................................................................3 Article 4...........................................................................................................................................3 Article 5...........................................................................................................................................4 References........................................................................................................................................6
CORPORATE SOCIAL RESPONSIBILITY2 Article 1 Corporate Social Responsibility: A Strategic Advantage or a Strategic Necessity? This article develops and draws the research related to the use and need of corporate social responsibility by focusing on four main outcomes of it. These outcomes include strategic necessity, strategic advantage, strategic disadvantages and temporary strategic advantages. The author has described the same with the help of examining two Norwegian firms named as StormWear and CoffeeHouse. This article is based on mixed methodology where the author has collected from both sources primary as well as secondary. The author has used RBV method to explain initiatives of CSR and employee’s performance. Framework has been used along with literature available in this regard to suggest the CSR can result into giving competitive advantage to an organization. This article argues that when CSR initiatives taken by the firm proves beneficial to the employee’s performance, other firms and organizations try to copy such initiatives. This makes such initiatives a necessity instead of advantageous for the firms who are not willing to take such step to introduce new CSR initiatives. This article also contributes that CSR activities are not the values that create competitive advantages but these can also be resulted in making the relationship complex with the leading values of the firm which in turn, tend to make competitive advantage in general (Joyce and Brunsal 2011, 9-16). Article 2 Investigating the relationship between corporate social responsibility and financial performance in emerging markets This paper aims to find out the relationship between corporate social responsibility of a firm and its financial performance. The author has used primary research method to conduct this study by investigating 100 index companies on Istanbul Stock Exchange (ISE) by examining theirCSR values and financial performance indicators. The author has examined relationship from 2005 to 2007 with different measurement approaches and methods. For the purpose of data collection, sampling methods has been used by considering the financial report of 40 companies. The author
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