Some activists see them as the promise of a better tomorrow.
David Butcher Aug 04, Many leading businesses no longer debate the legitimacy and benefits of corporate social responsibility. Yet those devoting more resources to it face a new set of challenges.
If ever there was a time to get serious about responsible business practices and regaining consumer and employee trust, it is now. Corporate social responsibility is often thought of as altruism or public relations, and many companies pay lip service to the notion by funding development projects in the areas in which they operate.
Proponents seek to move beyond this approach, viewing corporate social responsibility as companies considering the social and environmental impact of their policies alongside profit when determining investment strategy and management practices.
Although companies are primarily business organizations run for the purpose of making money off of their product or service, they have a wide-ranging set of responsibilities to their own suppliers, customers and employees, to the communities in which they are located and to society at large.
Recent McKinsey Quarterly surveys reveal that today's business leaders are called upon to play an increasingly significant role in helping to resolve some of our most pressing social issues, from health care to the environment.
There are plenty of valid arguments against corporate social responsibility, perhaps the biggest being the lack of tangible economical benefits. Opinion and research has been divided regarding the relationship between corporate social responsibility and financial performance.
Who would not want to live in a world in which corporate virtue is rewarded and corporate irresponsibility punished? Unfortunately, the evidence for these rewards and punishment is rather weak," David Vogel, author of The Market for Virtue: Yet businesses are demonstrating that well-managed, strategic corporate responsibility actually supports business objectives and that it does have benefits, intangible though they may be: Factors that drive reputation included social responsibility in addition to management quality, product quality and use of corporate assets.
Moreover, Edelman's 10th Trust Barometer concludes that 77 percent of respondents refuse to buy from companies they distrust.
McKinsey and others have found that, due to increasing pressure from consumers and employees, companies are responding to the demand for more ethical business processes and actions. According to Grant Thornton's International Business Report on corporate social responsibility last year: In many countries [ Other notable areas that companies are emphasizing when deciding on a path to corporate social responsibility are strategic sourcing and procurement; continuous process improvement; logistics; and product life-cycle management.
The recent survey of business leaders worldwide shows that "60 percent believe corporate social responsibility has increased in importance over the past year. Increasingly more organizations are holding themselves to a higher ethical standard considering the overall interests of society in the operations of their day-to-day business, but many of them don't know how to actually make changes that would improve both business performance and societal impact.
It does so by emphasizing the new idea that the purpose of corporate social responsibility within firms is for value creation. In their study, value creation is most prevalent when the following factors are considered: More on this at CulturalShifts.
With companies facing increasing pressure from investors, governments, prospective employees and consumers to make their operations, products and services more socially responsible, it's no surprise that Grant Thornton asserts that corporate social responsibility is "now a necessity rather than a choice.Mar 10, · Corporate Social Responsibility: Articles, Case Studies, and Resources Here is a great presentation which provides an overview of corporate social responsibility.
Another resource which provides a fantastic introduction to the issues of strategic CSR is an article “Understanding and developing strategic corporate social responsibility” by Heslin and Ochoa. Generating Safe and High Quality Electricity, Hitachi's Mega Solar Power Generation System - Increasing solar power generation is seen as an important factor to reduce CO2 emissions and to create a low carbon society.
For this purpose, many large-scale solar power generation projects are currently underway in Japan. However, as the use of . List of Case Studies Published in Subject Case Title Coca-Cola‟s Water Sustainability Initiatives Kimberly-Clark Corporation: The Environmental Sustainability Challenge The Chinese Tainted Milk Scandal Coca-Cola India‟s Corporate Social Responsibility Strategy Corporate Governance Issues at Satyam Computers Carbon Credits: Promoting.
This listing contains abstracts and ordering information for case studies written and published by faculty at Stanford GSB. Narrow your results. Centers, Initiatives, and Institutes. Center for Entrepreneurial Studies.
Center for Social Innovation. Corporate Governance Research Initiative. C3, in , and steers it through two major. 4 rutadeltambor.com and supply chain management efficiencies. However, with the changing competitive dynamics, Dell was losing its cost Innovation.
Hitachi participated in various strategic activities, events, and corporate initiatives and contributed immensely to strengthen society and protect the environment. Find out more information about Hitachi’s Social Innovation events and corporate activities.