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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