Week Three: Corporate Social Responsibility

Hi there,

   CRS, i.e. what big boys have to do to make small boys happy. CSR is a must-have for nearly all large multinational companies. They are responsible for the impact on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Some key benefits include,

   (i) Human resources – easier to recruit employees
   (ii) Brand differentiation – build customer loyalty based on ethical values; positive press coverage
   (iii) Employee loyalty – staff staying longer, reduces the costs of recruitment and retraining
   (iv) Employee efficiency – more motivated and more productive
   (v) Relations – improvement of relations with local authorities, government and customers
   (vi) Costs - Reducing resource use, waste and emissions doesn't just help the environment - it saves money, too.

However, there are several downsides as well,

   (i) Priorities – business are too busy with current economic downturn, hence they have to focus on core business
   (ii) Opportunity cost – no time for CSR; distraction
   (iii) Window dressing – CSR just to look good; give good impression
   (iv) Take it over – governments want CSR to take their places as a watchdog over companies

   Click here to download Powerpoint presentation made by Sam and Jitesh (both A52).

Andy Quin, Bellerbys College London principal, gave a speech about school's CSR. Will try to upload his presentation somewhen.

Cheers,
John A62