Corporate Social Responsibility

What does Corporate Social Responsibility mean to responsible businesses?

Jose Barbosa from TV3 provides a humorous and very brief description of Corporate Social Responsibility.

 

 

The Business Case for Corporate Social Responsibility

From the Harvard Law School Forum on corporate governance and financial regulation.

There is no single CSR business case—no single rationalization for how CSR improves the bottom line. Over the years, researchers have developed many arguments. In general, these arguments can be grouped based on approach, topics addressed, and underlying assumptions about how value is created and defined. According to this categorization, CSR is a viable business choice as it is a tool to:

  • implement cost and risk reductions;
  • gain competitive advantage;
  • develop corporate reputation and legitimacy; and seek win-win outcomes through synergistic value creation.

In the last decade, in particular, empirical research has brought evidence of the measurable payoff of corporate social responsibility (CSR) initiatives to companies as well as their stakeholders. Companies have a variety of reasons for being attentive to CSR. This report documents some of the potential bottomline benefits: reducing cost and risk, gaining competitive advantage, developing and maintaining legitimacy and reputational capital, and achieving win-win outcomes through synergistic value creation.

The term “corporate social responsibility” is still widely used even though related concepts, such as sustainability, corporate citizenship, business ethics, stakeholder management, corporate responsibility, and corporate social performance, are vying to replace it. In different ways, these expressions refer to the ensemble of policies, practices, investments, and concrete results deployed and achieved by a business corporation in the pursuit of its stakeholders’ interests.

This report discusses the business case for CSR—that is, what justifies the allocation of resources by the business community to advance a certain socially responsible cause. The business case is concerned with the following question: what tangible benefits do business organizations reap from engaging in CSR initiatives? This report reviews the most notable research on the topic and provides practical examples of CSR initiatives that are also good for the business and its bottom line.  Read it here

 

BACS offers a view on what CSR is in New Zealand with 3 business rules.

How & why do businesses do ‘it’?

‘It’ being Corporate Social Responsibility (CSR), Community Investment (CI), Corporate Responsibility (CR) and a bevy of other names that can make peoples eyes glaze over and the conversation to quickly dry up. ‘It’ can be called all of the above and more; Mallen Baker describes good CSR as the license to operate. So why is it such a hot topic and how do we get to understand it? Read it here.

 

Business in the Community UK proffers a report that explains what makes good business sense.

‘The Business Case for being a Responsible Business.’

This report – with up-to-date data on the business benefits of today, and predictions for what the benefits will be tomorrow – will help organisations understand what areas of operations they can look at to assess their societal, economic and environmental impact, how to gather support for building a responsible business, and why being a responsible business makes good business sense. Read it here.

 

Corporate Social Responsibility – What does it mean?

The definition used by Mallen Baker Founding Director of Business Respect since 2001: CSR is about how companies manage the business processes to produce an overall positive impact on society.

One of the most frequently asked questions at this site – and probably for all those individuals and organisations dealing with CSR issues is the obvious – just what does “Corporate Social Responsibility” mean anyway? Is it a stalking horse for an anti-corporate agenda? Something which, like original sin, you can never escape? Or what? Different organisations have framed different definitions – although there is considerable common ground between them. Read it here.

csr diagram