Ethical and Philanthropic Responsibilities Towards the Society

CSR

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
1. Definition of corporate social responsibility............................................................................3
2. Detail about the Milton Friedman............................................................................................3
3. Considering the theorist on CSR..............................................................................................3
4. Explaining the shareholders and stakeholders of the company...............................................4
5. Explaining ethical consumer and ethical investor...................................................................4
6. Importance of brand image and explaining 'enlightened self-interest'....................................4
ARGUMENTS IN FAVOR OF CSR..............................................................................................4
ARGUMENTS AGAINST CSR ....................................................................................................5
TASK 2............................................................................................................................................5
1. Positive or negative image of supermarket..............................................................................5
2. Measures taken by the supermarket to enhance brand image..................................................6
3. Further commitments made by the supermarket towards CSR...............................................6
4. Importance of CSR in today's corporate environment.............................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
2

INTRODUCTION
Corporate social responsibility refers to as the voluntary activity undertaken by the
organization in order to operate in an economic, social and environmentally sustainable manner.
This report is mainly focused on gaining the deep knowledge about the CSR activities and also
positive and negative effect of these activities. Organization chosen for this report is TESCO and
detail discussion about this has been made.
TASK 1
1. Definition of corporate social responsibility
According to A. Carroll, CSR basically defined as the economic, legal, ethical and
arbitrary expectations which society is having for the particular organization at a given point of
time. The concept describes that company have a moral, ethical and philanthropic responsibilities
towards the society along with the responsibility of earning a fair return.
2. Detail about the Milton Friedman
Milton Friedman was a world-famous economist and an effective advocate of the free-
market economy. He has given the theory on Corporate social responsibility. He stated that there
is only one social responsibility of a company that is to use its resources and engage in activities
which are designed in order to increase their profits as long as it stays within the rules of the
game (Friedman, 1970). That is to say that company engages in the open and free competition
without fraud.
3. Considering the theorist on CSR
Harold Mintzberg: He is an internationally renowned academic and an author of business and
management. He has discusses size of multinational corporations and society. For instance, large
organization like Amazon must consider themselves as a part of society that is they can increase
the GDP than small company (Mintzberg, 1983).
John Elkington: He is a English Businessman and author who has given the concept of Triple
bottom line which is an accounting framework and has three parts that is social, environmental
and financial.
3