The Impact of Introduced Corporate Social Responsibility on the Meeting Market

Topics: Corporate social responsibility, Social responsibility, Environmentalism Pages: 5 (1665 words) Published: December 18, 2012
In recent years corporate social responsibility (CSR) is increasingly becoming a part of a large number of companies. It is becoming an important activity for businesses throughout the globe, and many organizations have rebranded their core values to include social responsibility. People look at CSR to deliver benefits especially vis-a-vis environmental, social and economic aspects. It helps businesses to build up credibility and reputation which the public can identify with. However, it could be a pressure on business to take CSR issues seriously. In response to that, the following are providing a framework to understand of CSR impacts, to see how CSR currently contributes to environmental, social and economic policies in the meeting industry. And there are some recommendations for decision makers in the field, that CSR activities could be a business opportunity for growing sustainable. There is as yet, no widely agreed definition of CSR. Base on the European Commission identifies corporate social responsibility as: “A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis” (Commission of the European Communities 2001). It is also a form of corporate self-regulation integrated into a business model whereby business would monitor and ensure its adherence to law, ethical standards, and international norms. (Donna J. Wood 1991)

Launched in 1999 by The United Nations, the Global Compact starts to give out a principle-based framework for businesses, stating ten principles in the areas of human rights, labor, the environment and anti-corruption. It provides more clear guidelines to adopt CSR policies in the field. By support the Global Compact, Meeting Professional International (MPI), the largest non-profit professional association for the meeting and events industry, consider CSR as a concept whereby the long-term interests of actions and take responsibility for the impact of these actions on employees, customers, the community and the environment. (MPI Sustainability Report 2012) They state that a sustainable meeting could incorporate the triple bottom line (as known as people, planet, profit), which captures an expanded values of economic, environmental and societal considerations. The core values of human rights and labor standards are particularly related to social issues. Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and Principle 2: make sure that they are not complicit in human rights abuses. In views of adopting CSR on that, professional meeting planners and companies would tend to use barrier-free designed venue to accommodate those attendees with disability, together with develop high and new technologies to fulfill different people needs. For example, speech-to-braille transcription for immediate tagging of words for the blind and the visually impaired, making the people with disabilities have their right to attend meetings. The CSR efforts can bring company a good image and enhance reputations in long-term. Thus to strengthen the relationships with key stakeholders who hold similar values. In labor aspect, CSR can be related to the ability of companies: to help for attracting, motivating, and retaining talent employees. Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining; Principle 4: The elimination of all forms of forced and compulsory labor; Principle 5: The effective abolition of child labor; and Principle 6: The elimination of discrimination in respect of employment and occupation. These are all related to employment; to ensure all workers are freely and voluntarily establish and join organizations of their own choice; labor should be freely given and employees should be free to leave in accordance with established rules.; be aware and take measures to...
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