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    Business Ethics Group4

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    wilhelmina roman
    The document discusses business ethics and social responsibility. It outlines the benefits of good corporate social responsibility (CSR) practices, such as stronger brand image, increased customer loyalty and sales, and operational cost savings. It then provides a 7-step process for formulating a CSR strategy, including understanding CSR, evaluating current activities, prioritizing issues, and communicating efforts. Examples are given of inspiring CSR programs from Microsoft, TOMS Shoes, and Starbucks focusing on philanthropic initiatives, ethical sourcing, and environmental sustainability.

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    Business Ethics Group4

    Uploaded by

    wilhelmina roman
    20 views8 pages
    The document discusses business ethics and social responsibility. It outlines the benefits of good corporate social responsibility (CSR) practices, such as stronger brand image, increased customer loyalty and sales, and operational cost savings. It then provides a 7-step process for formulating a CSR strategy, including understanding CSR, evaluating current activities, prioritizing issues, and communicating efforts. Examples are given of inspiring CSR programs from Microsoft, TOMS Shoes, and Starbucks focusing on philanthropic initiatives, ethical sourcing, and environmental sustainability.

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    business ethics lesson 4

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    Business-Ethics-Group4

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    The document discusses business ethics and social responsibility. It outlines the benefits of good corporate social responsibility (CSR) practices, such as stronger brand image, increased customer loyalty and sales, and operational cost savings. It then provides a 7-step process for formulating a CSR strategy, including understanding CSR, evaluating current activities, prioritizing issues, and communicating efforts. Examples are given of inspiring CSR programs from Microsoft, TOMS Shoes, and Starbucks focusing on philanthropic initiatives, ethical sourcing, and environmental sustainability.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    20 views8 pages

    Business Ethics Group4

    Uploaded by

    wilhelmina roman
    The document discusses business ethics and social responsibility. It outlines the benefits of good corporate social responsibility (CSR) practices, such as stronger brand image, increased customer loyalty and sales, and operational cost savings. It then provides a 7-step process for formulating a CSR strategy, including understanding CSR, evaluating current activities, prioritizing issues, and communicating efforts. Examples are given of inspiring CSR programs from Microsoft, TOMS Shoes, and Starbucks focusing on philanthropic initiatives, ethical sourcing, and environmental sustainability.

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    You are on page 1of 8

    Business Ethics and Social

    Responsibility

    Quarter 3 – Module 4 – Lesson 1


    Formulate a Framework of
    Social Responsibility that
    Reflects the Practice of Sound
    Business
    People mostly believe that businesses should
    not only make a profit but also consider the
    social implications of their activities. Previous
    entrepreneurs see corporate social responsibility
    as a burden—something that can easily be
    fulfilled by an event whose proceeds go to
    charities. Gone are those days, because
    companies already acknowledged that the
    environmental, social and economic impacts
    they have on their communities require a more
    concerted effort.
    Key benefits of good CSR practices

    • Stronger brand image: brand reputation and brand value.

    • Increased customer loyalty and sales:

    • Operational cost savings: leads to innovative ways to reduce


    your operating costs

    • Employee recruitment and retention

    • Access to funding and financing: ability to obtain venture


    capital, insurance, loans and financing

    • Improve relations with regulatory bodies: having a good


    name
    7 steps to build and formulate your own CSR
    strategy that will work
    • Understand: Determine what CSR means to your company
    and how it relates to your overall mission and purpose.

    • Evaluate: Look at what your organization is already doing


    in terms of CSR activities.

    • Research: Find out which CSR issues are most significant


    to your business. Start by referencing online lists for relevant
    issues in your sector. Look at the CSR or sustainability
    reports of larger companies in your industry to see which
    issues they’re tackling.
    • Prioritize: Identify which CSR issues are most important to your
    customers and stakeholders and deal with those first. Engaging your
    employees and customers is a great way to get going and gain support.

    • Integrate: Your CSR strategy has to become part of your overall


    business strategy. Don’t think of it as part of your business, but rather,
    the way you do business.

    • Identify opportunities: Having strong CSR credentials can pave the


    way for new opportunities such as entering new markets, developing
    niche products and forging strategic partnerships.

    • Communicate: Ensure you effectively communicate your CSR


    activities to your various target audiences through as many channels as
    possible.
    Examples of Five CSR Programs that Are Making a
    Difference

    1. Microsoft

    CSR Mission: Apply the power of technology to ensure corporate


    responsibility, safeguard human rights, and protect our planet for the
    future.

    Why We Find It Inspiring: Their organization has donated a record-


    breaking $1.5 billion to non-profits, and invested in research to help
    support people with disabilities. At the same time, their teams also take
    part in charity team building activities like Wheelchairs for Charity to
    directly support smaller groups of individuals within their
    communities.
    2. TOMS Shoes

    CSR Mission: for every pair of shoes they sold, they would also
    donate a pair of shoes to a child in need.

    Why We Find It Inspiring: A lot of CSR programs think local, but


    TOMS Shoes made it a point to think globally. They integrated
    giving into the very core of their business model, which has helped
    to inspire not only their employees but their customers as well.
    3. Starbucks

    CSR Mission: Named the “World’s Most Ethical Company”


    committed to building greener stores, having a positive impact
    on local neighborhoods, and promoting ethical sourcing and
    fair trading.

    Why We Find It Inspiring: Starbucks has taken steps towards


    making their coffee production more environmentally friendly
    and economically supportive.

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