Presentation on theme: "Corporate Responsibility Chelsea Hulse David Furjanic Naomi Gunawardena."— Presentation transcript:
Corporate Responsibility Chelsea Hulse David Furjanic Naomi Gunawardena
Introduction Corporate responsibility – the ethics of a business Business definition Responsibility to the government and to general public Go beyond requirements of regulators and environmental groups Many groups monitor corporate responsibility Social, economic, and environmental issues
Introduction (cont.) Green practices – increasing efficiency of resource use; reducing impact on environment Environment is one of the main focuses of corporate responsibility As consumers become more environmentally aware, businesses are working to become “greener” – responsibility Waste reduction and recycling, green building, energy and water conservation, use of green power, pollution prevention, etc.
Background Term “corporate social responsibility” originated in 1970’s Focus on corporate responsibility is still a relatively new area, but becoming “mainstream” It has become a “multi-billion dollar public relations specialty” (http://www.sourcewatch.org/index.php?title=Corporate_Social_Responsibility)
Background (cont.) Corporate responsibility reports for selected companies (2008): Walt Disney Company Starbucks Coffee Corporation IBM Coca-Cola Company
Benefits for the Business Reduces resource use, waste and emissions: helps environment and saves money Good reputation: easier to recruit customers and employees. Helps the business comply with regulatory requirements. Involvement with the local community generate positive press coverage. Good relationships with local authorities make doing business easier. Understanding the wider impact of the business can help it develop new products and services.
Benefits for Us Builds trust between companies and stockholders, which is good for the market The environment is protected Consumers can express their views by choosing a company that has “green practices” Blackle is an example of a green practice. This black version of Google saves energy every time you use it!
Cons Sometimes purely a marketing strategy CSR not legally enforceable Corporate citizenship vs. CSR Fraud