Corporate Social Responsibility BLOG -7

 Corporate Social Responsibility

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Now a days organizations thinks they have a responsibility towards the people, society and planet, in par with their profit earning venture. Encouraging companies to be more aware of the impact of their business on the rest of society, including their own stakeholders and the environment.

  Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders.

In recent years, scholars and managers have devoted greater attention to the strategic implications of corporate social responsibility (CSR). Consistent with   McWilliams and Siegel (2001),

CSR  has been defined as situations where the firm goes beyond compliance and engages in ‘actions that appear to further some social betterment.

Numerous definitions of CSR have been proposed and often no clear definition is given, making theoretical development and measurement difficult,  CSR activities have been posited to include incorporating social characteristics or features into products and manufacturing processes  Researchers are moving beyond just defining and identifying CSR activities, to examine the strategic role of CSR in organizations. Milton Friedman (1970)

  

Similarly, there is growing interest among managers in the antecedents and con

sequences of CSR, especially for executives at multi-national, multi-divisional

companies

A sound CSR activity in Unilever

Unilever is a multinational corporation, in the food and beverage sector, with a comprehensive CSR strategy. The company has been ranked ‘Food Industry leader’ in the Dow Jones Sustainability World Indexes for the 11 consecutive years and ranked 7th in the ‘Global 100 Most Sustainable Corporations in the World’.

One of the major and unique initiatives is the ‘sustainable tea’ programme.  On a partnership-based model with the Rainforest Alliance (an NGO), Unilever aims to source all of its Lipton and PG Tips tea bags from Rainforest Alliance Certified™ farms by 2015.  The Rainforest Alliance Certification offers farms a way to differentiate their products as being socially, economically and environmentally sustainable. [2]

Reference

McWilliams, A. and Siegel, D. (2001). ‘Corporate social responsibility: a theory of the firm per-

spective’. Academy of Management Review, 26, 117–27.

Friedman, M. (1970). ‘The social responsibility of business is to increase its profits’. New York Times

Magazine,September, 13.

http://lexicon.ft.com/Term?term=corporate-social-responsibility--(CSR)  on 23.06.2018 @ 20.00

Monika J.A. Schröder, Morven G. McEachern, (2005) "Fast foods and ethical consumer value: a focus on McDonald's and KFC", British Food Journal, Vol. 107 Issue: 4, pp.212-224, https://doi.org/10.1108/00070700510589503 on 23.06.2018 @ 22.00