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 👨🏻💼
- Identify stakeholders
- Identify stakeholders’ interests and concerns
- As a result, identify the claims stakeholders are likely to make on the firm
- 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