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    Corporate Social Responsibility

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    Kathc Azur
    The document discusses the traditional and modern views of social responsibilities of businesses. The traditional view, associated with economist Milton Friedman, is that a business's only responsibility is to generate profits for its shareholders. The modern view is that businesses have a responsibility to act in socially beneficial ways and consider impacts on stakeholders, society, and the environment. The document then outlines specific social responsibilities businesses have to owners/shareholders, employees, customers, government, other businesses, and society overall including environmental protection. It provides examples of organizations that promote social responsibility through various initiatives.

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    Corporate Social Responsibility

    Uploaded by

    Kathc Azur
    160 views5 pages
    The document discusses the traditional and modern views of social responsibilities of businesses. The traditional view, associated with economist Milton Friedman, is that a business's only responsibility is to generate profits for its shareholders. The modern view is that businesses have a responsibility to act in socially beneficial ways and consider impacts on stakeholders, society, and the environment. The document then outlines specific social responsibilities businesses have to owners/shareholders, employees, customers, government, other businesses, and society overall including environmental protection. It provides examples of organizations that promote social responsibility through various initiatives.

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    The document discusses the traditional and modern views of social responsibilities of businesses. The traditional view, associated with economist Milton Friedman, is that a business's only responsibility is to generate profits for its shareholders. The modern view is that businesses have a responsibility to act in socially beneficial ways and consider impacts on stakeholders, society, and the environment. The document then outlines specific social responsibilities businesses have to owners/shareholders, employees, customers, government, other businesses, and society overall including environmental protection. It provides examples of organizations that promote social responsibility through various initiatives.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    160 views5 pages

    Corporate Social Responsibility

    Uploaded by

    Kathc Azur
    The document discusses the traditional and modern views of social responsibilities of businesses. The traditional view, associated with economist Milton Friedman, is that a business's only responsibility is to generate profits for its shareholders. The modern view is that businesses have a responsibility to act in socially beneficial ways and consider impacts on stakeholders, society, and the environment. The document then outlines specific social responsibilities businesses have to owners/shareholders, employees, customers, government, other businesses, and society overall including environmental protection. It provides examples of organizations that promote social responsibility through various initiatives.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    SOCIAL RESPONSIBILITIES OF MANAGEMENT

    Social Responsibility of business refers to what the business does, over and above
    statutory requirement, for the benefit of the society.

    TWO VIEWS OF SOCIAL RESPONSIBILITIES


    TRADITIONAL VIEW
    Milton Friedman The business of business is business.
    social obligation - Friedman argues that the profit earned by business belongs
    exclusively to the shareholders of the business and these profit cannot be diverted to any
    other social purpose
    Spending the organizations resources for social good
    MODERN VIEW
    Business is a social and economic institution which cannot live in isolation.
    Social responsiveness means that a company engages in social actions in response to
    some popular social need.
    Social responsibility means a businesss intention, beyond its legal and economic
    obligation, to for the right things and act in ways that are good for society.

    Milton Friedman, an American economist, statistician, and writer, was a recipient of the 1976
    Nobel Memorial Prize in Economic Sciences, and is known for his research on consumption
    analysis, monetary history and theory, and the complexity of stabilization policy.

    SOCIAL RESPONSIBILITIES OF BUSINESS:


    Towards Owners/Shareholders:
    Fair Dividend
    Solvent and Efficient Business
    Optimum Use of Resources
    Planned Growth
    Effective Communication
    Towards Employees:

    The successful organization depends to a very large extent on the morale of the
    employees.
    Meaningful Work
    Job Satisfaction
    Fair Salaries & Benefits
    Best Quality of Work life
    Succession Planning and Development
    An opportunity for participation in a management decision.
    Towards Customers:
    Customer satisfaction shall be the key to satisfying the organizational goal.
    Understand needs and wants of the customers
    Fair Price
    Superior Service
    Superior Product Design
    Quick and complete Information
    Towards Government:
    Payment of Taxes, Custom Duties etc.
    Adibe by the Laws
    Observe the Policies
    Maintain Law & Security
    Towards Inter-Business:
    The social responsibility of a business includes a healthy cooperative business
    relationship between different businesses.
    Cooperation for Sharing of Scarce Resources and Facilities
    Collaboration for Maximization of Business Efficiency
    Towards Society:
    Employment
    Welfare Services
    Maintaining Pollution Free Environment
    Major areas where business can and does contribute towards community welfare

    Taking appropriate steps to prevent environmental pollution and preserve ecological


    balance.
    Assisting in over all development of locality.
    Conserve scarce resources
    CORPORATE CITIZENSHIP
    Ways in which a companys strategies and operating practices affect its stakeholders, the
    natural environment, and the societies where the business operates.
    Directly linked to the companys business model in that it requires companies to pay
    attention to all their impacts on stakeholders, nature, and society.

    ORGANIZATIONS THAT PROMOTES SOCIAL RESPONSIBILITY


    USING ITS ECOMAGINATION: GE
    Ecomagination helped GE build its business by increasing awareness of how the
    company is using renewable energy and reducing carbon emissions.
    BREWED RESPONSIBLY: STARBUCKS COFFEE
    One of Starbucks' main focuses is the sustainable production of green coffee.
    LENDING A HAND TO MAN'S BEST FRIEND: PEDIGREE
    Pedigree dog food built its brand by focusing on the need for people to adopt homeless
    dogs.
    A SHOE FOR ME IS A SHOE FOR YOU: TOMS SHOES
    Blake Mycoskie started Toms Shoes on the premise that for every pair of shoes sold, one
    pair would be donated to a child in need.
    A WHOLE LOT OF GOOD: WHOLE FOODS
    Whole Foods supports sustainable agriculture, promotes the reduction of waste and
    consumption of nonrenewable resources and encourages environmentally sound cleaning
    and store-maintenance programs.
    CANON
    CANON PROJECT REBUILD
    A Canon has recently created Canon Project Rebuild (CPR), a disaster relief project
    intended to respond to crises and calamities. Staying true to its corporate philosophy of
    Kyosei, or living and working together for the common good, Canon not only aspires

    to reach out to those in need, but more importantly to give genuine joy and sustained
    support to any victims of calamity. Through CPR, Canon has also promoted the spirit of
    generosity and volunteerism among its employees.
    PRINT FOR SMILES
    Canon has started Print for Smiles to help Operation Smile generate funds for the free
    reconstructive surgeries they give to children with cleft lip and palate. Through Print for
    Smile, customers can have their photos printed using Canon Large Format Printers for a
    very minimal cost.

    While the program helps support numerous operations, it also

    promotes the impeccable printing quality and service of Canon products.


    KIDS heART BANTAY BATA
    Children of The Filipino Channel (TFC) paint to raise funds for ABS CBN Foundation
    Internationals flagship program
    Ronald McDonald House Charities (RMHC)
    Helping families stay together. A labor of love since 1974.
    Ronald McDonald House Charities (RMHC) creates, finds and supports programs that
    benefit childrens health and well-being. As our Charity of Choice for nearly 40 years,
    McDonalds proudly helps RMHC impact the lives of 7 million children and their
    families around the world each year.
    SM Foundation
    SM Foundation is the socio civic arm of the SM Group of Companies through which it
    helps the less fortunate in the communities it serves. These are areas within the vicinity of
    SM

    Department

    Stores

    and

    Supermalls

    that

    need

    assistance.

    The Foundation has four areas of advocacy: education through scholarship programs and
    donations to schoolhouses; mall-based outreach programs; health oriented projects like
    medical missions, a mobile clinic, and hospital activity centers and religious community
    projects.

    SM City Baguio plants trees

    A total of 9,557 seedlings have already been planted by SM City Baguio as an initial step in fulfilling its
    commitment to plant 50,000 trees around Baguio City, underscoring the companys commitment for
    corporate social responsibility.
    Issue: Cutting of trees in SM Baguio : Whos to Blame?
    Other environmentalists think that the blame should not all be fired at SM Management. In the first
    place that is their property so they can really do whatever they want. If were going to attack them via
    social responsibility and environmental concerns they have already said that their efforts still took on all
    aspects of environmental considerations.

    Philex Mining Corporation


    Social & Environment Responsibility
    -

    Shows genuine concern toward its host communities to improve quality of life

    Supports and practices the environment, safety, and health guidelines of Philex Mining
    Corporation

    Actively participates in the company's community development and environmental


    programs

    Issue: Mining firm takes on social responsibility for spill


    The Philex Mining Corporation expressed its willingness to take its social responsibility following the
    effect of the tailing spillage to the waters in Benguet.
    We are willing to pay the fine and suspend our operations (until proper repair and remedy are
    implemented), Philex corporate lawyer Miguel Toledo said in reaction to the impending imposition of
    fine against the mining company by the Department of Environment and Natural Resources (DENR).

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