Csr - Corporate Social Responsibility
1.1 What is Corporate Social Responsibility?
The theory of corporate social responsibility (CSR) is best elucidated by the statement that a company should take a wider view of how its actions and success impact society and stakeholders. CSR identifies that "doing well" and "doing good" go hand in hand. (Leadership and CSR: a Perfect Match). A commonly used definition provided by the World Business Council for Sustainable Developement states that CSR is "Continuing commitment by a business to behave ethically, and contribute to economic developement, while improving the quality of life of the workforce and their families as well as local communities and society at large".
1.2 How do Firms Engage In CSR?
One of the most recognised company 's within the world of CSR is Starbucks Coffee company. Starbucks offers healthcare benefits and fair trade prices to its coffee bean growers around the world. They also offer a 10% discount to customers who bring in their own coffee mugs, to lessen their impacts on the quantity of resources they use for manufacturing the paper cups. Starbucks also use the notion of CSR to their advantage by advertising the fact that they engage in it. On all of their cups, it states that the coffee is fair trade, and the materials used have been recycled. This is an innovative method of advertisment because any customer looking to chose between the "big 3" notable Starbucks, Costa and Nero, may chose Starbucks because of the lengths they unertake to be socially responsible. (CNN- How UPS, Starbucks, Disney Do good). Starbucks CSR report stated that consumers are demanding more than just the product itself from their prefered brands. Employees are deciding to work for firms that are socially responsible, and shareholders are much more inclined to invest in firms with good corporate relations. (Corporate Social Responsibility- Whether or How?)
Another prime example of good is UPS. It strives to better its fuel efficiency, and use
The theory of corporate social responsibility (CSR) is best elucidated by the statement that a company should take a wider view of how its actions and success impact society and stakeholders. CSR identifies that "doing well" and "doing good" go hand in hand. (Leadership and CSR: a Perfect Match). A commonly used definition provided by the World Business Council for Sustainable Developement states that CSR is "Continuing commitment by a business to behave ethically, and contribute to economic developement, while improving the quality of life of the workforce and their families as well as local communities and society at large".
1.2 How do Firms Engage In CSR?
One of the most recognised company 's within the world of CSR is Starbucks Coffee company. Starbucks offers healthcare benefits and fair trade prices to its coffee bean growers around the world. They also offer a 10% discount to customers who bring in their own coffee mugs, to lessen their impacts on the quantity of resources they use for manufacturing the paper cups. Starbucks also use the notion of CSR to their advantage by advertising the fact that they engage in it. On all of their cups, it states that the coffee is fair trade, and the materials used have been recycled. This is an innovative method of advertisment because any customer looking to chose between the "big 3" notable Starbucks, Costa and Nero, may chose Starbucks because of the lengths they unertake to be socially responsible. (CNN- How UPS, Starbucks, Disney Do good). Starbucks CSR report stated that consumers are demanding more than just the product itself from their prefered brands. Employees are deciding to work for firms that are socially responsible, and shareholders are much more inclined to invest in firms with good corporate relations. (Corporate Social Responsibility- Whether or How?)
Another prime example of good is UPS. It strives to better its fuel efficiency, and use