Corporate social responsibility

company's management of impacts ❗

social 👥

environmental 🌳

economic 🤑

Shareholders 💰

Stakeholder 💰

Internal 📥

external 📤

shareholders 🤑

board 📋

managers 👨🏼‍💼

employees 👷

suppliers 🚛

customers 🛒

competitors 🏅

creditors 💷

governments 🌐

media 📽

local communities 🗺

general public 👥

prioritisation ❗

analysis

Hil et al 👨🏻‍💼

  1. Identify stakeholders
  1. Identify stakeholders’ interests and concerns
  1. As a result, identify the claims stakeholders are likely to make on the firm
  1. Identify the stakeholders who are most important from the firm’s perspective

Identify the resulting strategic challenges (pressures that affect the firm’s likelihood of success)

Carroll's pyramid 🔺

Philanthropic Responsibilities

Ethical Responsibilities

Legal Responsibilities

Economic Responsibilties

sustaibability

👨‍💼 Aguinis conceives CSR as ‘context-specific organizational actions and policies that take into account stakeholders’ expectations and the triple bottom line of economic, social, and environmental performance

triple bottom line

reporting 🗒

creating shared value 🤑

link

business opportunities & threats ☠

firm assets 💰

social needs 👥

goes beyond CSR - integrating responsible behaviours into the core of the business.

Corporate social irresponsibility

doing harm 👎

e.g. - human-rights violations, price fixing, customer cheating and environmental damage