MPU3343 chapter 1 PDF

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Chapter 1: Defining Corporate Social Responsibility (CSR)Difference between CSR and community service.CSR is to take responsibility for the company's effects on environmental and social wellbeing by integrating social and environmental concerns in their business operations and in their interaction w...

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Chapter 1: Defining Corporate Social Responsibility (CSR) Difference between CSR and community service. CSR is to take responsibility for the company's effects on environmental and social wellbeing by integrating social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. Community Service is a voluntary job that is performed either by an individual or a group of people for the benefit of the community meeting their actual needs. Therefore, CSR and Community service are two different concepts. Samsung —— has changed the lives of Aster and her village members FedEx —— support the communities where they live and work through various programmes or initiatives AirAsia —— focus on assisting their own staffs and also those who were affected by the Haiyan Typhoon in Tacloban. a. What does 'Corporate', 'Social' and 'Responsibility' mean? Corporate: businesses / large company Social: people + environment Responsibility: things that you have to do + play your part (e.g. in school—finish your work on time) b. CSR in a management concept. What does it hope to achieve in an organization?What is the 'Triple Bottom Line'? What are the 3 P's? CSR in a management concept where companies combine social and environmental concerns with their business. It is generally understood as being the way through which a company achieves a balance of environment economy and social factors. When companies are trying to be corporately and socially responsible they are aiming to achieve the triple bottom line. The triple bottom line includes environmental which is not harming the environment and picking up trash, social which is giving back to the community or charity, financial which the amount of money you are making should increase and you should be able to provide you for your family which is three meals a day. These three divisions are also called the three P’s which is Planet, People, and Profit c. What is the purpose of CSR? What are the 4 points that were discussed in the video? Purpose of CSR is to identify & improve impact on society& environment while collecting stronger businesses results such as branch enhancement which means to increase the popularity of the company, market differentiation which means being different from other companies, and employee satisfaction that means to have a good relationship with workers. d. What are some of the successful ways of engaging in CSR? Providing better living conditions with clean water in villages, education for poor children, saving forests and reforestation, and providing health services.

e. What are some advantages and disadvantages of CSR? CSR can help the reputation of the company reduce their risks and help improve their business methods, it can teach workers to respect current customers, the society, and the environment. CSR can also help attract customers towards the company, this leads to more profit of the community. It can also help create deeper relationships with customers. Mismanagement of CSR can lead to companies claiming to be helping the environment and community but could be lying and not actually doing what they claimed to be doing. There is no way to guarantee that a company is following its CSR policy. Cost of CSR are not fair for smaller businesses as they cannot always afford to take action to help their community.

EU Commission: CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis....