Chapter 4 Presentation 3

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<ol><li> 1. CORPORATE SOCIAL RESPONSIBILITY Respective business act in ways that balance profit and growth with the good of society.Based on the concept that the relationship between business and society ought to go deeper than simply economics.One part of corporate social responsibility is Ethical Sourcing Buyingfrom suppliers who provide safe working conditions and respect workers rights.Corporate Social Responsibility = Doing Well By Doing Good </li><li> 2. RESPONSIBILITY TO INDIVIDUALS Customers trust you to supply a good or serviceInvestors &amp; Creditors Trustyour business judgment and rely on you to fulfill your financial obligationsEmployees Counton you for income </li><li> 3. RESPONSIBILITY TO EMPLOYEES Employees Need The Following: A Safe Work EnvironmentTrust Theyneed respect for their skills and freedom to use them. The true test comes with giving them responsibility with no supervision. Employers are often cautious about giving too much space because they want employees to stay with them, but also grow professionally and personally. </li><li> 4. RESPONSIBILITY TO EMPLOYEES Consideration for Personal Needs Employersmust respect the needs of employees as it pertains to children, spouses, and other family members. </li><li> 5. RESPONSIBILITY TO CUSTOMERS Business owners are bound by law to treat customers fairly. A wise entrepreneurs realizes that the ethical obligations often go far beyond the legal minimum. The four qualities that customers are most looking for are: Honesty Respect Accessibility Attention </li><li> 6. RESPONSIBILITY TO CUSTOMERS Honesty: Behonest and transparent in all areas Inform about product advantages and drawbacks Describe your service abilities accurately Carefully estimate time and cost Admit to mistakes without excuses </li><li> 7. RESPONSIBILITY TO CUSTOMERS Respect: Customersneeds and problems are important tothem Take customer complaints seriously Research says that only 1-50 dissatisfied customers actually complain </li><li> 8. RESPONSIBILITY TO CUSTOMERS Accessibility Beavailable when you promise to be Keep the business hours that you advertise Give accurate contact information where they can reach you Keep customers updated about the progress of their work </li><li> 9. RESPONSIBILITY TO CUSTOMERS Attention: Focusyour attention on the customer you are helping at that current moment Dont be distracted by your cell phone or other obligations. </li><li> 10. RESPONSIBILITY TO SUPPLIERS Make timely payments to the suppliers you deal with. Complaining that a supplier is being unfair or dishonest is not appropriate Using suppliers as bargaining chips is dishonest as well. </li><li> 11. RESPONSIBILITY TO INVESTORS/CREDITORS They provide the money to start and run a business along with an emotional boost to the business.Investors are not guaranteed a return on their investment, but they should be guaranteed your respect and timeliness in responses.Creditors are owed a return on their investment, often with interest tacked on.Both do deserve respect because taking money on false pretenses is illegal and can hurt your business. </li><li> 12. DATE Objective What is the corporate social responsibility towards the environment?Bellringer What are ways that you can protect the environment as a business? </li><li> 13. ENVIRONMENTALLY FRIENDLY ENTERPRISES Sustainable Design: Meetsthe planets needs while preserving resources for future generationsAlternative Energy: Researchersare working to make alternatives to oil and coal. Investors are excited to put money towards a clean technologyOrganics Concernsabout personal health, as well as the environment, have increased interest in organic products, those made from crops and animals that are raised without manufactured chemicals. </li><li> 14. ENVIRONMENTALLY FRIENDLY ENTERPRISES Fair Trade: Mostfair trade items are sold through a network of independent wholesalers and retailers. </li><li> 15. THE ENERGY EFFICIENT WORKPLACE Businesses that arent specifically green can benefit from green practices.The five ways a business can lower expenses while being green are: Getinto the recycling loop Do business electronically Buy supplies in bulk Replace incandescent light bulbs with fluorescent ones. Use environmentally friendly transportation </li><li> 16. KEY ENERGY EFFICIENT TERMS Carbon Footprint Measuresthe amount of carbon you use and thus release back into the atmosphere.Carbon Offset Buyinga certain amount of carbon, from non-profit organizations, usually priced per ton, to offset your carbon footprint. Money is invested back into renewable energy.Greenwashing Whena business overstates their commitment to being green </li><li> 17. CAUSE RELATED MARKETING CRM Isa partnership between a business and a non-profit group for the benefits of both. Accomplishestwo goals at its best:Increases sales for the business Raises money and awareness for the non-profit group Sponsorship Oneform of CRM which a business sponsors an event in exchange for advertising </li><li> 18. CAUSE RELATED MARKETING Facilitated Giving Whena business makes it easier for customers to contribute to a cause. For example: a store may have canisters at check out lines to make donations. Purchase Triggered Donations Forevery purchase of an item the business will contribute a certain amount or percentage of the proceeds </li><li> 19. PHILANTHROPY When a business donates money and other resources for socially beneficial causes.Philanthropy is ideally a help up, not a handout.Comes from two Greek words that translates to: Onewho loves human kindIn-Kind Donation Agift of a good or service Can be counted on the entrepreneurs personal income tax statement</li></ol>