What is Corporate Social Responsibility (CSR)?
Corporate Social Responsibility (CSR)… What is it? What drives it? And what are the benefits?
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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?
🎬 How is CSR reflected in Legislation and Standards?
🎬 CSR: Who are an Organization’s Stakeholders?
🎬 What are an Organization’s Environmental Responsibilities under CSR?
🎬 What are an Organization’s Social Responsibilities under CSR?
🎬 What are an Organization’s Ethical Responsibilities under CSR?
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
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)
There are many books that discuss CSR. These are the ones I recommend:
📖 Corporate Social Responsibility: A Very Short Introduction
📖 Cannibals with Forks: The Triple Bottom Line Of 21st Century Business.
📖 Strategic Management: A Stakeholder Approach: R Freeman
📖 The Stakeholder Strategy: Profiting from Collaborative Business Relationships
📖 Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause
📖 Corporation Be Good! the Story of Corporate Social Responsibility
⭕️ 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: https://kit.co/MikeClayton/manager-s-work-kit (the links are affiliated)
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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
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