Scribd Logo
Upload

Welcome to Scribd!

  • 258 views

    What I Have Learned From CSR

    Uploaded by

    I Iva
    The document discusses what the author has learned about corporate social responsibility (CSR) from a course. It covers several key points about CSR, including that CSR allows companies to positively impact society and the environment. It also discusses 11 principles of CSR covered in a textbook, including that CSR is most effective when it is integrated into a company's culture, and that both companies and stakeholders share responsibility for CSR. The author concludes that they appreciated learning about CSR and its connection to issues facing the Earth, society, and companies.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    What I Have Learned From CSR

    Uploaded by

    I Iva
    258 views5 pages
    The document discusses what the author has learned about corporate social responsibility (CSR) from a course. It covers several key points about CSR, including that CSR allows companies to positively impact society and the environment. It also discusses 11 principles of CSR covered in a textbook, including that CSR is most effective when it is integrated into a company's culture, and that both companies and stakeholders share responsibility for CSR. The author concludes that they appreciated learning about CSR and its connection to issues facing the Earth, society, and companies.

    Original Description:

    csr

    Original Title

    What I have learned from CSR

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses what the author has learned about corporate social responsibility (CSR) from a course. It covers several key points about CSR, including that CSR allows companies to positively impact society and the environment. It also discusses 11 principles of CSR covered in a textbook, including that CSR is most effective when it is integrated into a company's culture, and that both companies and stakeholders share responsibility for CSR. The author concludes that they appreciated learning about CSR and its connection to issues facing the Earth, society, and companies.

    Copyright:

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

    What I Have Learned From CSR

    Uploaded by

    I Iva
    The document discusses what the author has learned about corporate social responsibility (CSR) from a course. It covers several key points about CSR, including that CSR allows companies to positively impact society and the environment. It also discusses 11 principles of CSR covered in a textbook, including that CSR is most effective when it is integrated into a company's culture, and that both companies and stakeholders share responsibility for CSR. The author concludes that they appreciated learning about CSR and its connection to issues facing the Earth, society, and companies.

    Copyright:

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

    What I have learned from CSR?

    First of all, I’d like to thank to our Lecturer, Nino Surmava for amazing course of
    CSR, where we got such an interesting information about business as Corporate
    Social Responsibility.
    Based on that the whole course was interesting, I can’t choose one of the most
    interesting chapter in the book, so I decided to speak about what I have studied
    about corporate social responsibility and what does CSR mean to me?
    As I am going to study marketing in Caucasus University, I think that every good
    marketing specialist must be aware of Corporate social responsibility, so as a
    future marketing manager, I became kind of a member who gathers information
    about everything connected to Marketing(but, I think that CSR is the subject
    everyone should get involved studying it)
    Corporate social responsibility in a business lets company to make positive affect
    on society and environment.

    As we can see in that one picture is everything mentioned connected to CSR.


    we know that goals of CSR is to keep environment and people healthier and
    make positive impact on them like resources, yes , this is long term goal and
    everything is connected to people’s ethics, they have to sustain their
    responsibility also while working in a market.
    Corporate social responsibility only works when it becomes part of company’s
    corporate culture. When company has CSR staff becomes more motivated and
    they are engaged also. Becoming socially aware and responsible also helps
    organizations to become good corporate citizens which strengthens brand and
    brand awareness, creates a richer company culture and generates a clearer sense
    of purpose for the team and a company as a whole. Employees should feel
    empowered by company’s CSR initiatives and feel they are making a big
    contribution. It is important to involve organization’s team in the process by
    allowing them to come up with ideas for company’s CSR program.

    In our book(Corporate Social Responsibility – A Strategic Perspective ; author:


    David Chandler) all the 11 principles were very interesting and I have heard so
    many new and interesting things about CSR.
    The first principle was about that business equals social progress “It argues that
    the for-profit firm is the most important organizational form because it is best
    able to convert valuable and scarce resources into products that we demand and,
    ultimately, that raise the overall standard of living. The incentive to innovate is
    central to this process, but innovation occurs elsewhere in society, too.
    Irrespective of its origin, for-profit firms excel when they seek to bring such
    innovation to market. Integral to this process are the multitude of business
    decisions, each laden with ethical and moral implications, that the firm makes
    every day. While self-interest is a powerful motivator, value is optimized in its
    broadest sense when the interests of the firm overlap significantly with the
    interests of its multitude of invested stakeholders.”
    The second Principle was about shareholders that they do not owe the firm
    Managers and directors do not have a fiduciary responsibility to manage the firm
    primarily in the interests of shareholders. Legally, the corporation is an
    independent entity , a legal person with contractual interests. Philosophically, it
    is the collective effort of the actions and interests of multiple parties, all of whom
    have a stake in the value creation process. An important step managers can take
    to reinforce this reality is to resist pressures for short-term performance and,
    instead, make decisions that are in the medium- to long-term interests of the
    organization.
    The third principle was also very interesting . It states that it is easy to identify
    stakeholders but it is difficult to prioritize stakeholder interests. It is the
    intersection of the firm’s operational priorities, the institutionalization of a
    particular issue, and the motivations of each of its stakeholders that determines
    the need for the firm to act.
    The fourth principle says that “CSR will only work if firms are rewarded for
    acting and punished for failing to act. As such, while CSR includes a responsibility
    for a firm to meet the needs and demands of its stakeholders, the stakeholders
    themselves have an equal, if not more important, responsibility to hold the firm
    to account. CSR is not solely a corporate responsibility. Instead,
    a joint responsibility of both the firm and all of its stakeholders is essential
    if we are to achieve the socially responsible outcomes we say we seek.
    This constant, iterative, evolving relationship reflects the dynamic way in which
    business and society are inextricably interwoven. But, it is essential that all
    parties (the business and each of its stakeholder groups) play their part. While
    firms have a responsibility (founded in self-interest) to accommodate, wherever
    possible, the needs and concerns of their broad range of stakeholders, each
    stakeholder group has a responsibility (founded in self-preservation and social
    progress) to shape a firm’s behavior through expectations that it conveys via
    meaningful action. This stakeholder responsibility is equal, if not more
    important, to the responsibility of the firm.”
    The fifth principle states that market based solutions are optimal. “In general,
    market forces generate superior outcomes than alternative means of allocating
    scarce and valuable resources, such as government mandate. While stakeholders
    have an interest in shaping the behavior of for-profit firms, the mechanism by
    which this occurs most effectively is the market.” It means that, while markets
    are not perfect enough, they are the most efficient means they have of allocating
    scarce and valuable resources via the for-profit firms that populate them. More
    importantly, the evidence suggests that, when they seek to subvert these highly
    developed forces, however well-intentioned, the result is often an unintended
    consequence. One way to curb the raw excesses of market forces, yet preserve
    the illusion of choice that markets enable, is the wider use of behavioral
    economics in order to nudge individuals to make decisions that better serve their
    own and society’s interests.
    The sixth principle can be mentioned as my favorite one, I liked topic most in this
    book because it was directly connected to the profits , values and economy. The
    title was given like an equation. PROFIT=ECONOMIC VALUE + SOCIAL VALUE.
    the main idea of profit is to sell goods and services at a higher price than it costs
    to produce. Production and Consumption encapsulate the total value that is
    added by the firm. The 6th principle “argues that conceptualizing economic and
    social value as independent constructs demonstrates a fundamental
    misunderstanding of what profit represents. Although imperfect, profit is the
    best measure we have of capturing the total value added by a specific company
    and product during production and consumption. Rather than asking firms to
    focus on profit maximization (which is both impossible to prove and unhelpful
    because it distorts decision making), however, the goal of profit optimization
    better reflects the value judgments that are made every day as firms balance
    competing stakeholder interests. Even better, understanding the extent of value
    added in terms of the separate processes associated with the production and
    consumption of products and services provides a mechanism by which society
    can more easily identify those behaviors that detract from, rather than add to,
    overall value.“
    The free market is not free, we can agree with this statement. In the seventh
    principle we can meet such statement. Free market encourages firms to
    externalize costs that are the brought by society rather than consumers.
    At present our economic system allows firms to externalize costs to society that
    are not included in the prices which are imposed to customers. The main
    problem is not that this mechanism is not working, the problem is that all
    relevant costs are not included in the prices that are imposed and if the prices
    are collapsed the resulting economic exchange will also be collapsed. This is not
    the only way that creates an artificial market for products currently being
    manufactured and consumed, but it also creates artificial barriers to entry for
    more competitive alternatives. Lifecycle pricing is the only way to solve the
    problem, while company is “lifecycling prices” all related costs of production and
    consumption are incorporated into the final prices charged.
    And the last chapter I am going to discuss about is that Only business can save
    the planet, I think This eighth chapter is directly connected to corporate social
    responsibility. The environmental challenge has reached the point where
    consumer-driven change is inadequate, while for profit firms were the main
    cause of the problem, they are also the main hope for a solution. Scale is essential
    and big companies MUST do much more if they want to create a sustainable
    economic system. The core argument rests on the idea that scale is essential—
    that the problem has reached a point where only substantial change will produce
    meaningful effects and help avert the catastrophic outcome we are otherwise
    hurtling toward. In this light, while for-profit firms are the main cause of the
    environmental mess we face; they are also the main hope for a solution. There is
    much work to do—both in terms of production and consumption—in order to
    create a truly sustainable economic system.”

    In conclusion, I’d like to repeat the above-mentioned, that I was so pleased to had
    chance to listen to this amazing lecture and have kind of information about CSR
    and problems connected to the Earth, society, companies etc.

    For my homework I have used materials from “ Corporate Social Responsibility A


    strategic perspective” By David Chandler and https://maxpeoplehr.com/spread-
    love-corporate-social-responsibility/ , https://www.involvesoft.com/what-
    does-csr-mean/

    You might also like