What is Corporate Social Responsibility (CSR)?
Vložit
- čas přidán 30. 07. 2024
- Corporate Social Responsibility (CSR)... What is it? What drives it? And what are the benefits?
Watching this video is worth 2 Management Courses CPD Points*.
🔎 See below for details
Corporate Social Responsibility (CSR)
This video is part of course module 6.2
Program 6: Managing within Organizations
Course 2: Corporate Social Responsibility
Other videos that describe Corporate Social Responsibility:
🎬 What is the Triple Bottom Line?
• What is the Triple Bot...
🎬 How is CSR reflected in Legislation and Standards?
• How is CSR Reflected i...
🎬 CSR: Who are an Organization's Stakeholders?
• CSR: Who are an Organi...
🎬 What are an Organization's Environmental Responsibilities under CSR?
• What are an Organizati...
🎬 What are an Organization's Social Responsibilities under CSR?
• What are an Organizati...
🎬 What are an Organization's Ethical Responsibilities under CSR?
• What are an Organizati...
LESSON NOTES
Corporate Social Responsibility is a business model in which companies integrate social and environmental concerns in their business operations, so that they are accountable to stakeholders beyond their owners and shareholders.
CSR is a partnership between the organization and its community.
CSR drives companies to enhance rather than degrade society and the environment. They seek to:
1. Do positive good.
2. Reduce harmful practices.
What Drives CSR?
1. Philanthropic objectives, social conscience, moral and ethical drivers
2. Enlightened self-interest: winning customer loyalty, avoiding alienation, and reducing risks of legal penalties.
What are the Benefits of CSR?
- To society and the environment
- Brand enhancement, customer perception, and customer loyalty
- Investor appeal
- Employee attraction, engagement, motivation, and retention
- Risk mitigation
- Cost reduction
RECOMMENDED EXERCISE
1. What CSR initiatives does your organization engage in? (1 MC CPD Point)
2. If you were able to drive your organization's CSR program, what activities would you select, that would fit wit its culture and mission? (2 MC CPD Points)
DOWNLOADS
Free Resources
🧰 CPD Tools - gum.co/MC-CPD
Paid resources
🧳 Management Courses Onboarding Kit - gum.co/MC-ObK ($3)
RECOMMENDED READING
There are many books that discuss CSR. These are the ones I recommend:
📖 Corporate Social Responsibility: A Very Short Introduction
geni.us/oCWl1m
📖 Cannibals with Forks: The Triple Bottom Line Of 21st Century Business.
geni.us/Lyr1bRP
📖 Strategic Management: A Stakeholder Approach: R Freeman
geni.us/XzYlz
📖 The Stakeholder Strategy: Profiting from Collaborative Business Relationships
geni.us/bPI5
📖 Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause
geni.us/UCLsj
📖 Corporation Be Good! the Story of Corporate Social Responsibility
geni.us/a97O
⭕️ Links to our book recommendations are affiliated through Amazon and help support our free videos
Managers Need a Basic set of kit to do your job well. Here are my top recommendations: kit.co/MikeClayton/manager-s-... (the links are affiliated)
MANAGEMENT COURSES CONTINUING PROFESSIONAL DEVELOPMENT (CPD) POINTS
You can record your Management Courses CPD points on our free, downloadable CPD record log.
📓 Download it at: gum.co/MC-CPD
Each video has two levels of MC CPD points. For this video:
- If you simply watched the video, record 2 MC CPD points
- If you also carried out all of the recommended exercises, score a total of 5 MC CPD points
CHAPTER MARKERS
00:00 - What is Corporate Social Responsibility (CSR)?
00:14 - The Shareholder Perspective
00:45 - The Stakeholder Perspective
01:31 - Definition of Corporate Social Responsibility
01:47 - The implications of CSR
02:50 - Why shareholders may like CSR
03:56 - CSR has benefits
04:50 - Summing up Corporate Social Responsibility
#ManagementCourses #CSR #CorporateSocialResponsibility
This video kicks off a new, short course on Corporate Social Responsibility, CSR. In today's world, it is more important than ever that corporations and other organizations act like good global citizens. Many don't. But many aim to. Join me on this short, but crucial, exploration of CSR.
By the way... Thank you for watching.
Please support the channel and our free content. Like, subscribe, and hit the notification bell so CZcams knows to let you know when I produce more videos.
And, for maximum support, use the $ Thanks button, under the video, to make a small donation with a highlighted comment.
My personal opinion is that it has become sort of trendy for some business analysts to demonize Milton Friedman in 2024. I think his statement has been misinterpreted and was referring to "The Spirit of Capitalism" in much the same way "The Spirit of Golf" has been invoked in that sport. Friedman was an early champion of gay rights and immigration causes in America as well.
I've not heard the term "The Spirit of Capitalism" (nor "The Spirit of Golf"). And I wasn't aware of Friedman's own social priorities. So, this is a valuable input into Friedman as a man aghead of his time on social policy!
@@ManagementCourses Do you think a company governing itself is sort of like the proverbial fox guarding the henhouse though? I love how in the Enron movies from 2003 and 2005 the fact that Arthur Andersen was in Enron's back pocket. The accounting practices and shredding evidence were scandalous, so both firms eventually went bankrupt.
@@urbanlegendsandtrivia2023Companies need to govern themselves. They need internal governance structures as a first or second (after integrity) line of defense. But they also need external scrutiny (like auditors). And, of course, the auditors need both internal governance and external scrutiny.