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 Buying from suppliers who provide safe working
conditions and respect workers’ rights. Corporate Social Responsibility = Doing Well
By Doing Good
RESPONSIBILITY TO INDIVIDUALS
Customers trust you to supply a good or service
Investors & Creditors Trust your business judgment and rely on you to
fulfill your financial obligations
Employees Count on you for income
RESPONSIBILITY TO EMPLOYEES
Employees Need The Following:
A Safe Work Environment
Trust They need 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.
RESPONSIBILITY TO EMPLOYEES
Consideration for Personal Needs Employers must respect the needs of employees
as it pertains to children, spouses, and other family members.
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
RESPONSIBILITY TO CUSTOMERS
Honesty:
Be honest 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
RESPONSIBILITY TO CUSTOMERS
Respect:
Customers needs and problems are important to them
Take customer complaints seriously Research says that only 1-50 dissatisfied
customers actually complain
RESPONSIBILITY TO CUSTOMERS
Accessibility
Be available 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
RESPONSIBILITY TO CUSTOMERS
Attention:
Focus your attention on the customer you are helping at that current moment
Don’t be distracted by your cell phone or other obligations.
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.
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.
DATE
Objective
What is the corporate social responsibility towards the environment?
Bellringer
What are ways that you can protect the environment as a business?
ENVIRONMENTALLY FRIENDLY ENTERPRISES Sustainable Design:
Meets the planet’s needs while preserving resources for future generations
Alternative Energy: Researchers are working to make alternatives to
oil and coal. Investors are excited to put money towards a “clean” technology
Organics Concerns about 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.
ENVIRONMENTALLY FRIENDLY ENTERPRISES
Fair Trade: Most fair trade items are sold through a network
of independent wholesalers and retailers.
THE ENERGY EFFICIENT WORKPLACE
Businesses that aren’t specifically green can benefit from green practices.
The five ways a business can lower expenses while being green are: Get into the recycling loop Do business electronically Buy supplies in bulk Replace incandescent light bulbs with fluorescent
ones. Use environmentally friendly transportation
KEY ENERGY EFFICIENT TERMS
Carbon Footprint Measures the amount of carbon you use and thus
release back into the atmosphere.
Carbon Offset Buying a 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 When a business overstates their commitment to
being “green”
CAUSE RELATED MARKETING
CRM Is a partnership between a business and a non-
profit group for the benefits of both.
Accomplishes two goals at its best: Increases sales for the business Raises money and awareness for the non-profit group
Sponsorship One form of CRM which a business sponsors an
event in exchange for advertising
CAUSE RELATED MARKETING
Facilitated Giving When a 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 For every purchase of an item the business will
contribute a certain amount or percentage of the proceeds
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: One who loves human kind
In-Kind Donation A gift of a good or service Can be counted on the entrepreneurs personal
income tax statement