Hult International Business School
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This 1 page Study Guide was uploaded by Mischa Rapt on Thursday April 23, 2015. The Study Guide belongs to at Hult International Business School taught by Dr. Omar Hernandez in Spring 2015. Since its upload, it has received 93 views. For similar materials see Corporate Social Responsibility in International Business at Hult International Business School.
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Clutch. So clutch. Thank you sooo much Mischa!!! Thanks so much for your help! Needed it bad lol
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Date Created: 04/23/15
Foundations of CSR 1 Ethical Argument Core to an argument grounded in ethics is whether ethical values are subjective or absolute Precise relationship between ethics and CSR is often left unspecified Rests on two philosophical approaches consequentialist reasoning or categorical reasoning 2 Moral Argument CSR broadly represents the relationship between a company and the principles expected by the wider society within which it operates It assumes businesses recognize that for profit entities do not exist in a vacuum and that a large part of their success comes as much from actions that are congruent with societal values as from factors internal to the company 3 Rational Argument CSR is a rational argument for businesses seeking to maximize their performance by minimizing restrictions on operations In today s globalizing world where individuals and activist organizations feel empowered to enact change CSR represents a means of Chapter 1 What is CSR 5 Driving Forces of CSR 1 Growing Affluence Pyramid of Economic Responsibility its owner s investment up by the government and judiciary within its operating environment 4 Discretionaryrepresents more proactive society or both 1 Economicto produce an acceptable return on 2 Legalduty to act within legal framework drawn 3 Ethicalto do no harm to its stakeholders and strategic behaviors that can benefit the firm and 2 Sustainability 3 Globalization 4 Media Chapter 2 Strategy and CSR A stakeholder perspective Strategic CSR The incorporation of a holistic CSR perspective within a firm s strategic planning and core operations so that the firm is managed in the the firm aspires to solve for others to perform mission It sets forth the ways it will negotiate its advantage Tactics Day to day management decisions made to implement the firm s strategy Vision Why the organization exists It identifies the needs Mission What the organization is going to do to achieve its vision It addresses the types of activities the firm seeks interests of a broad set of stakeholders to achieve maximum economic and social value over the medium to long term Strategy How the organization is going to undertake its competitive environment in order to attain a sustainable Chapter 3 CSR Whose Responsibility anticipating and re ecting societal concerns to minimize operational and financial limitations on business 4 Economic Argument CSR is an argument of economic selfinterest for business CSR adds value because it allows companies to reflect the needs and concerns of their various stakeholder groups By doing so a company is more likely to retain its societal legitimacy and maximize its financial viability over the long term Chapter 5 Implementing CSR CSR implementation Short to medium term 0 Executive Investment 0 CSR Officer 0 Ethics Code and Training Medium to Long term 0 Stakeholder Involvement Manage the Message 0 Corporate Governance transparency and accountability Activism and advocacy PRME Six Principles 1 Purpose Develop capabilities of students to be future generators of sustainable value 2 Values Incorporate into academic activities and curricula the values of global social responsibility 3 Method Create educational frameworks materials processes and environments that enable effective learning experiences for responsible leadership 4 Research Engage in conceptual and empirical research that advances our understanding about the role dynamics and impact of corporations socially economically and environmentally 5 Partnership Interact with managers of business corporations to extend knowledge of challenges in meeting social and environmental responsibilities and to explore jointly effective approaches to meeting these challenges 6 Dialogue Facilitate and support dialog and debate among educators students business government consumers media civil society organizations and other interested groups and stakeholders on critical issues related to global social responsibility and sustainability Industry Perspective An external perspective of the firm that identifies the structure of the environment in which the firm operates Resources Perspective An internal perspective of the firm that identifies resources capabilities and core competencies of the firm as the main determinant of a sustainable competitive advantage Stakeholder Perspective how to prioritize 1 Identify Prepare a list of stakeholders 2 AnalyzePrioritize Establish criteria Score each stakeholder 3 ActEngage Engage stakeholders as appropriate Chapter 4 CSR As a Strategic Filter Capabilities actions that a firm can do to add value to production process Competencies actions a firm can do very well Core Resources assets of firm that are unique and difficult to replicate Core Competencies processes of the firm that not only does very well but is difficult for other firms to match its performance in this area CSR Filter assesses management s planned actions by considering the impact of daytoday tactical decision and longer term strategies on organization s constituents 7 Sins of greenwashing Sin of Hidden Tradeoff Sin of No proof Sin of Vagueness Sin of Irrelevance Sin of Lesser Two Evils Sin of Fibbing Sin of Worshipping False Labels 5 Stages of CSR Learning 1 Defensive to deny responsibility 2 Compliance to do the minimum required 4 Strategic combine CSR with strategy planning process 5 Civil to promote CSR practices industrywide 3 Managerial to begin integrating CSR into management practices
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