csr - timetable and info on costs vs benefits

Unit 4:

Unit 4 Corporate Social Responsibility

Main Sections:

Main Sections The potential benefits of Corporate Social Responsibility relative to the costs for businesses and stakeholders (CSR AND STAKEHOLDER INTERESTS) The importance of Corporate Social Responsibility relative to other corporate objectives (CSR AND CORPORATE OBJECTIVES) The influences determining which responsibilities are accepted by a business and which are not (CSR AND CHOICE OF RESPONSIBILITY) The factors that determine the extent to which a businesses is socially responsible (CSR AND SCOPE) The value and limitations to businesses and stakeholders of social reporting (CSR AND SOCIAL REPORTING) The extent to which governments should influence Corporate Social Responsibility (CSR AND GOVERNMENT INFLUENCE)

Research:

Research You need to research The theory for each section How each section relates to your chosen company This is an independent piece of work and you must do the work or you will get a very low mark! Read the Do’s and Don’ts Give me your email address so that I can send you a document with lots of CSR sources (teacher support)

Slide 4:

Name Business Date of presentation Josh Monday 4 th Apr Moamin Monday 4 th April Bashar Tuesday 5 th apr Jack Tuesday 5 th april Taylor Wednesday 6 th april Sarah Weds 6 th April Marcel Wednesday 6 th april Hessa Weds 6 th April Ali Thursday 7 th April Layla Thursday 7 th april Stephanie Monday 11th april CSR presentations

CSR AND STAKEHOLDER INTERESTS The potential benefits of Corporate Social Responsibility relative to the costs for businesses and stakeholders :

CSR AND STAKEHOLDER INTERESTS The potential benefits of Corporate Social Responsibility relative to the costs for businesses and stakeholders

Slide 6:

Economic drivers for corporate social responsibility (benefits) Drawing on the experiences of those companies that have adopted corporate social responsibility, commentators have identified several ways in which this approach to business decision-making may lead to improved financial performance. The following slides show the ‘economic drivers’ (the things that drive a company to do it) have been identified by the World Economic Forum and Business in the Community It is suggested that (this is evaluation and gets good marks) these drivers do not operate in isolation different companies may have different drivers Various drivers may also be stronger in different sectors and for different companies A move to adopt corporate social responsibility may arise from a combination of drivers.

Slide 7:

Employee recruitment, motivation and retention Recent surveys indicate that corporate social responsibility is increasingly an important factor in attracting and retaining a talented and diverse workforce (Globescan Inc 2005) Companies that account for the interests of their employees by offering good working conditions will achieve better performance in terms of quality and delivery, and, therefore, experience higher levels of productivity. Play ‘everyone’s talking CSR’ and ‘Business Benefits of CSR’ video Videos can be seen on YouTube

Slide 8:

Learning and innovation Learning and innovation are critical to the long-term survival of any business. Corporate social responsibility can be a vehicle for business to respond to environmental and societal risks and turn these into business opportunities. Play ‘PepsiCo performance with purpose’ video

Slide 9:

Reputation management Companies operate in a market of opinion How companies are judged by customers, suppliers and the broader community will have an impact on their profitability and success Corporate social responsibility offers a means by which companies can manage and influence the attitudes and perceptions of their stakeholders building their trust and enabling the benefits of positive relationships to deliver business advantage .

Slide 10:

Risk profile and risk management Corporate social responsibility offers more effective management of risk helps companies to reduce avoidable losses identifies new emerging issues and use positions of leadership as a means to gain competitive advantage.

Slide 11:

Competitiveness and market positioning Corporate social responsibility branding can draw consumers away from competitors and thereby improve profitability. Operational efficiency Corporate social responsibility can offer opportunities to reduce present and future costs to the business thereby increasing operational efficiency.

Slide 12:

Investor relations and access to capital The investment community is increasingly viewing corporate social responsibility as akin to long-term risk management and good governance practices Recent surveys indicate that analysts place as much importance on corporate reputation as they do on financial performance (Hill & Knowltown 2006).

Slide 13:

Licence to operate Companies that fail to manage their responsibilities to society as a whole risk losing their licence to operate a concept whereby a company’s stakeholders grant the company an unwritten authority to do business This may be evidenced by favouring competitors, boycotts or calls for deregistration. See IBM CSR study video - http://www.youtube.com/watch?v=PdkYieDuVvY&playnext=1&list=PL76008E560ED61A54

Slide 14:

Find a way to remember the main drivers Remember that driver is a reason for doing something; it drives you to take action An economic driver is a driver that gives you financial benefit Remember that these drivers do not operate in isolation different companies may have different drivers Various drivers may also be stronger in different sectors and for different companies A move to adopt corporate social responsibility may arise from a combination of drivers.

Slide 15:

The Mythical Costs of Implementing CSR? Implementing a CSR policy will take a lot of extra work and resource. CSR policies will incur expensive costs. A consideration of CSR will lead to big changes within an organisation. The cost of CSR far exceeds any benefits an organisation may reap. Developing and implementing a CSR policy will be a complex and time-consuming activity. Questions to ask If these are true is it just in the short run? Once the policies in place will the benefits outweigh the costs? Is a firm more likely to see the benefits more than the costs in times of boom?

Slide 16:

Argument against CSR You must be able to put forward the case for and the case against CSR Read the article Create a mind map with both benefits/drivers and disadvantages Why a mind map?

The importance of Corporate Social Responsibility relative to other corporate objectives CSR AND CORPORATE OBJECTIVES :

The importance of Corporate Social Responsibility relative to other corporate objectives CSR AND CORPORATE OBJECTIVES