1. Self-presentation

2. CSR

3. Agenda  Definition of Corporate Social Responsibility  Reason for and against introducing CSR in a company  Components of CSR  Different strategies towards CSR  Business responsibilities of 21st century

4. Definition The continuing, voluntary commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large

5. CSR? You do it wrong!

6. Why CSR?  Consumers & Investors: Growing expectation for organizations to behave responsibly  Consumer awareness: ‘Green’ and ‘Ethical’ consumerism  Legislation: Sustainability, Codes of Practice  Globalization: Adoption of ‘Best Practice’, Consumer & Legal Acceptance

7. THE MOST IMPORTANT REASON Corporate Social Responsibility… ADDS VALUE

8. Business Advantages  Addresses social issues business caused and allows business to be part of the solution  Build brand loyalty, reputation and attractiveness  New markets, products, services  Better internal and external relationships  More freedom of operation: reduce government, public, NGO intervention

9. Why not CSR?  May take management focus away from core business activity  May appear cosmetic – without genuine social benefit  May make organization more vulnerable to revelation of bad / unethical business practice  Business is not equipped to handle social activities  Limits the ability to compete in a global marketplace  Restricts the free market goal of profit maximization

10. 4 social responsibilities ResponsibilitySociety Expectations Explanation EconomicRequiredBe profitable. Maximize sales, minimize costs, etc. LegalRequiredObey laws and regulations. EthicalExpectedDo what is right, fair and just PhilanthropicExpected / DesiredBe a good corporate citizen INDISPENSABILITYINDISPENSABILITY

11. Social responsibility strategies Possible strategies of a company based on it’s tendency to be socially responsible or responsive Do nothingDo much ReactionDefenseAccommodationProaction

12. Business Responsibilities in the 21st Century  Demonstrate a commitment to society’s values and contribute to society’s social, environmental, and economic goals through action.  Insulate society from the negative impacts of company operations, products and services.  Share benefits of company activities with key stakeholders as well as with shareholders.  Demonstrate that the company can make more money by doing the right thing.

14. Summary  CSR – ethical actions aiming to improve the quality of life of the whole society  Implementing it may be beneficial also from the financial point of view…  … but may not  Companies must think about 4 aspects of their social responsibility: economic, legal, ethical and philanthropic  There are different attitudes towards social responsibility – more responsive and more responsible

15. Any questions?