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  1. Research center - CSR - Kedge Business School
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  3. Recent publications
  4. Corporate Social Responsibility (CSR)

Consumers also believe that retailers selling local products will gain loyalty. However, environmental efforts are receiving negative views given the belief that this would affect customer service.

Research center - CSR - Kedge Business School

Mohr et al. A more common approach to CSR is corporate philanthropy. This includes monetary donations and aid given to nonprofit organizations and communities. Donations are made in areas such as the arts, education, housing, health, social welfare and the environment, among others, but excluding political contributions and commercial event sponsorship. Creating shared value or CSV is based on the idea that corporate success and social welfare are interdependent. A business needs a healthy, educated workforce, sustainable resources and adept government to compete effectively.

For society to thrive, profitable and competitive businesses must be developed and supported to create income, wealth, tax revenues and philanthropy. CSV gives the impression that only two stakeholders are important — shareholders and consumers. Many companies employ benchmarking to assess their CSR policy, implementation and effectiveness. Benchmarking involves reviewing competitor initiatives, as well as measuring and evaluating the impact that those policies have on society and the environment, and how others perceive competitor CSR strategy.

According to Barney , "formulation of the RBV, sustainable competitive advantage requires that resources be valuable V , rare R , inimitable I and non-substitutable S. However, should competitors imitate such a strategy, that might increase overall social benefits. Firms that choose CSR for strategic financial gain are also acting responsibly.

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RBV presumes that firms are bundles of heterogeneous resources and capabilities that are imperfectly mobile across firms. This imperfect mobility can produce competitive advantages for firms that acquire immobile resources. They concluded that managers can determine the appropriate level of investment in CSR by conducting cost benefit analysis in the same way that they analyze other investments.

Reinhardt found that a firm engaging in a CSR-based strategy could only sustain an abnormal return if it could prevent competitors from imitating its strategy.

The following companies assisted us in this report:

Initially, CSR emphasized the official behaviour of individual firms. Later, it expanded to include supplier behaviour and the uses to which products were put and how they were disposed of after they lost value. In the 21st century, corporate social responsibility in the supply chain has attracted attention from businesses and stakeholders.

Corporations' supply chain is the process by which several organizations including suppliers, customers and logistics providers work together to provide a value package of products and services to the end user, who is the customer. Corporate social irresponsibility in the supply chain has greatly affected the reputation of companies, leading to a lot of cost to solve the problems.

For instance, incidents like the Savar building collapse , which killed over people, pushed companies to consider the impacts of their operations on society and environment. On the other side, the horse meat scandal of in the United Kingdom affected many food retailers, including Tesco, the largest retailer in the United Kingdom, [46] leading to the dismissal of the supplier. Corporate social irresponsibility from both the suppliers and the retailers has greatly affected the stakeholders who lost trust for the affected business entities, and despite the fact that sometimes it's not directly undertaken by the companies, they become accountable to the stakeholders.

These surrounding issues have prompted supply chain management to consider the corporate social responsibility context.

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Wieland and Handfield suggested that companies need to include social responsibility in their reviews of component quality. They highlighted the use of technology in improving visibility across the supply chain. Corporate social responsibility includes six types of corporate social initiatives: [48]. All six of the corporate initiatives are forms of corporate citizenship.

However, only some of these CSR activities rise to the level of cause marketing , defined as "a type of corporate social responsibility CSR in which a company's promotional campaign has the dual purpose of increasing profitability while bettering society. Companies generally do not have a profit motive when participating in corporate philanthropy and community volunteering.

On the other hand, the remaining corporate social initiatives can be examples of cause marketing, in which there is both a societal interest and profit motive. CSR may be based within the human resources , business development or public relations departments of an organisation, [50] or may be a separate unit reporting to the CEO or the board of directors. An engagement plan can assist in reaching a desired audience. A corporate social responsibility individual or team plans the goals and objectives of the organization. As with any corporate activity, a defined budget demonstrates commitment and scales the program's relative importance.

Social accounting is the communication of social and environmental effects of a company's economic actions to particular interest groups within society and to society at large.

Corporate Social Responsibility (CSR)

Social accounting emphasizes the notion of corporate accountability. Crowther defines social accounting as "an approach to reporting a firm's activities which stresses the need for the identification of socially relevant behavior, the determination of those to whom the company is accountable for its social performance and the development of appropriate measures and reporting techniques.

In nations such as France, legal requirements for social accounting, auditing and reporting exist, though international or national agreement on meaningful measurements of social and environmental performance has not been achieved. Many companies produce externally audited annual reports that cover Sustainable Development and CSR issues "Triple Bottom Line Reports" , but the reports vary widely in format, style, and evaluation methodology even within the same industry.

Critics dismiss these reports as lip service, citing examples such as Enron 's yearly "Corporate Responsibility Annual Report" and tobacco companies' social reports. In South Africa, as of June , all companies listed on the Johannesburg Stock Exchange JSE were required to produce an integrated report in place of an annual financial report and sustainability report.

This requirement was implemented in the absence of formal or legal standards. One of the reputable institutions that capital markets turn to for credible sustainability reports is the Carbon Disclosure Project , or CDP. Corporate social responsibility and its resulting reports and efforts should be verified by the consumer of the goods and services. Due to an increased awareness of the need for CSR, many industries have their own verification resources.

The United Nations also provides frameworks not only for verification, but for reporting of human rights violations in corporate supply chains. The rise of ethics training inside corporations, some of it required by government regulation, has helped CSR to spread. The aim of such training is to help employees make ethical decisions when the answers are unclear. Organizations see increased employee loyalty and pride in the organization. Common CSR actions include: [69]. Social License to Operate can be determined as a contractual grounds for the legitimacy of activities and projects company is involved in.

As stated in Enduring value: the Australian minerals industry framework for sustainable development the concept of the 'social license to operate', then defined simply as obtaining and maintaining broad community support and acceptance. Unless a company earns and maintains that license social license holders may intend to block project developments; employees may leave the company for a company that is a better corporate citizen: and companies may be under ongoing legal challenge.

In research of Requisite Organization Dr Elliott Jaques defines Social License to Operate for the company as the social contract the company has with the social license holders employees, trade unions, communities, government for them to manifest positive intention to support the business short- and long-term objectives by "providing managerial leadership that nurtures the social good and also gives the foundation for sustainable growth in organizational results.

The primary objective for the companies is to obtain and maintain the Social License to Operate. Based on the Requisite Organization research of Dr.

BUSS4 Section B: Corporate Social Responsibility (CSR)

Elliott Jaques to achieve this goal a company needs to:. A large body of literature exhorts business to adopt non-financial measures of success e. The business case for CSR [81] within a company employs one or more of these arguments:. Profit is the economic value created by the organization after deducting the cost of all inputs, including the cost of the capital unlike accounting definitions of profit. This measure was claimed to help some companies be more conscious of their social and moral responsibilities.

Another criticism is about the absence of a standard auditing procedure. The term was coined by John Elkington in A CSR program can be an aid to recruitment and retention , [86] [87] particularly within the competitive graduate student market. Potential recruits often consider a firm's CSR policy.

CSR can also help improve the perception of a company among its staff, particularly when staff can become involved through payroll giving , fundraising activities or community volunteering. CSR has been credited with encouraging customer orientation among customer-facing employees. CSR is known for impacting employee turnover. Several executives suggest that employees are their most valuable asset and that the ability to retain them leads to organization success. Socially responsible activities promote fairness, which in turn generate lower employee turnover. On the other hand, if an irresponsible behavior is demonstrated by a firm, employees may view this behavior as negative. Proponents argue that treating employees well with competitive pay and good benefits is seen as a socially responsible behavior and therefore reduces employee turnover. This interest is driven particularly by the realization that a positive work environment can result in desirable outcomes such as more favorable job attitudes and increased work performance.

The authors noted that while developing and implementing a CSR strategy represents a unique opportunity to benefit the company. The survey's authors also stated that employee engagement on CSR initiatives can be a powerful recruitment and retention tool. As a result, employees tend to discard employers with a bad reputation. Managing risk is an important executive responsibility. Reputations that take decades to build up can be ruined in hours through corruption scandals or environmental accidents.

CSR can limit these risks. CSR can help build customer loyalty based on distinctive ethical values.

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Some companies use CSR methodologies as a strategic tactic to gain public support for their presence in global markets, helping them sustain a competitive advantage by using their social contributions as another form of advertising. Companies that operate strong CSR activities tend to drive customer's attention to buy products or services regardless of the price. As a result, this increases competition among firms since customers are aware of the company's CSR practices.

These initiatives serve as a potential differentiator because they not only add value to the company, but also to the products or services. Furthermore, firms under intense competition are able to leverage CSR to increase the impact of their distribution on the firm's performance. Lowering the carbon footprint of a firm's distribution network or engaging in fair trade are potential differentiators to lower costs and increase profits.

In this scenario, customers can observe the company's commitment to CSR while increasing company sales. Whole Foods ' marketing and promotion of organic foods have had a positive effect on the supermarket industry. Proponents assert that Whole Foods has been able to work with its suppliers to improve animal treatment and quality of meat offered in their stores.

They also promote local agricultures in over 2, independent farms to maintain their line of sustainable organic produce. As a result, Whole Foods' high prices do not turn customers away from shopping.