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CSR: Action of a firm to benefit society beyond the requirements of the law and direct interests of the firm Sustainability: Development that meets humanitys needs without harming future generations
Are Corporate display a sense of social responsibility, or is this merely a matter of good business? Defend your answer.
Sustainability:
Economics + Environment + Expectations of society = Sustainability
Social Obligation
Social Responsibility
Social Responsive
United States
Ethical Responsibilities
Legal Responsibilities
Philanthropic Responsibilities
Set asides funds for corporate social community projects Provide invest. create jobs, and pay taxes
Economic Responsibilities
Plan
Do a scan of CSR commitments Hold discussions with major stakeholders Create a working group to develop the commitments Prepare a preliminary draft Consult with affected stakeholders
Develop an integrated CSR decision-making structure Prepare and implement a CSR business plan
Check
Measure and assure performance Engage stakeholders Report on performance, internally and externally
Improve
Evaluate Performance
Trust in Leaders
NGO leaders Leaders at the U.N. Spiritual/religious leaders 52
42
41 36 36 35 33 27
10
20
30
40
50
60
4-19
Justice rule
Decision that distributes benefits and harms among people and groups in a fair, equitable, or impartial way
4-20
Environmental Ethics
Within 30 years we will have lost 15-20% of all forms of life. More than 50% of our pharmaceuticals come from various species Business, just like other human groupings, depends on the continued existence on natural world. Humankind wants to use it to meet its various needs-material and also psychological needs Most of the environmental problems are the inevitable result of the sweeping technological changes that transformed western economic system after world II
Land Ethics
Includes soils, waters, plants and animals or collectively Wild flowers and songs birds have no economic value
5% of plants and animals can be sold, fed eaten or otherwise put to economic use
Yet these creatures are members of the biotic community and if its stability depends on its integrity. At the end of the century songbirds were supposed to be disappearing Eg.Crow No land ethics A system of conversation based solely on economic self interest. Eliminated many things in the name of commercial value
Water is precious, we think beyond our life, but not life as such
Natural resources should be carefully managed Ethical consideration of ecological (ecosystem) wholes rather than individuals
CSR Challenges to SD
Lack of understanding of the concept Volatile business climate Lack of socially responsible investors
CSR needs
Stakeholders
Consumers, employees, national and international regulators Need for a policy for sustainable development CSR can be best implemented towards its goals-sustained environmental, social and Economic growth