Please enable JavaScript.
Coggle requires JavaScript to display documents.
CSR - Coggle Diagram
CSR
Ted Talk - think about long term profits
e.g. Marks & Spencer, boss responsible for the employees
workers taken care of on a personal level
pharmacist, sold drugs to save people's lives
serve a purpose and the profits will follow
depending on the intention
e.g. Adidas / Nike - motivations for starting company was rivalry with brother
Edmans, 2015 - argued that there are ways of measuring employee wellbeing. If investors look into this, they will make long-term profits
e.g. Unilever, stopped giving short-term reports
e.g. Costco closed at Thanksgiving and 'lost' short-term profits
give employees time to spend with families
somehow something about being human
"love for others as you would love yourself"
investors / bosses putting themselves in the shoes of others
social darwinism concept - natural selection
this has driven the cut-throat, profit-driven attitude to business
"survival of the fittest"
CSR is NOT about this!!!
business and social policies
e.g. impact of covid
luck for some companies e.g. making face-masks
vaccines - companies agreed not to make a profit
building loyalty (post-covid)
really difficult to think about this in terms of CSR - you have to have CSR during a global pandemic
to focus on the long-term value
examples of CSR
caring for environment
important for nowadays
very challenging for manufacturing companies
maybe not everything has a definite solution
need to look at the bigger picture
find alternatives
compensate for the bad things that you do
stopping CO2 emissions - is it impossible?
every problem, there is a solution
e.g. solar power in the Gulf States
choosing the companies we use
globalisation of business "irreversible trend"
how might this have a negative effect in some way? e.g. Elon Musk
focusing on wealthy people (held to a higher standard)
technology issues
internet - positive / negative sides
positive - we can market
open opportunity of abuse
losing privacy
how can we ensure
accepting cookies - allow companies to use my info
type of info e.g. financial
Mark Zuckerberg court case - Cambridge Analytics
webcams
ethical standards connected to user experience & trust
people are over-reacting / paranoid
why would a company breach data laws?
protect stakeholders
workers
customers
overall goal - profit, social goal
legal, ethical
accountability & transparency