What is corporate social responsibility and what are examples of corporate social responsibility?
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Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through
which a company achieves a balance of economic, environmental and social imperatives (“Triple-Bottom-Line- Approach”), while at the same time addressing the expectations of shareholders and stakeholders. In this sense it is important to draw a distinction between CSR, which can be a strategic business management concept, and charity, sponsorships or philanthropy. Even though the latter can also make a valuable contribution to poverty reduction, will directly
enhance the reputation of a company and strengthen its brand, the concept of CSR clearly goes beyond that. Promoting the uptake of CSR amongst SMEs requires approaches that fit the respective needs and capacities of these businesses, and do not adversely affect their economic viability. UNIDO based its CSR programme on the Triple Bottom Line (TBL) Approach, which has proven to be a successful tool for SMEs in the developing countries to assist them in meeting social and environmental
standards without compromising their competitiveness. The TBL approach is used as a framework for measuring and reporting corporate performance against economic, social and environmental performance. It is an attempt to align private enterprises to the goal of sustainable global development by providing them with a more comprehensive set of working objectives than just profit alone. The perspective taken is that for an organization to be sustainable, it must be financially secure, minimize (or
ideally eliminate) its negative environmental impacts and act in conformity with societal expectations. Key CSR issues: environmental management, eco-efficiency, responsible sourcing, stakeholder engagement, labour standards and working conditions, employee and community relations, social equity, gender balance, human rights, good governance, and anti-corruption measures. A properly implemented CSR concept can bring along a variety of competitive advantages, such as enhanced access
to capital and markets, increased sales and profits, operational cost savings, improved productivity and quality, efficient human resource base, improved brand image and reputation, enhanced customer loyalty, better decision making and risk management processes. CSR takes many different shapes and forms, but is ultimately about contributing positively to society. Corporate social responsibility initiatives operate on scales of all sizes and range from community projects, to developing socially and environmentally sustainable corporate policies to advocating for social justice causes. The most important thing is that your initiative makes a positive difference, integrates purpose into the workplace and is relevant to your company’s mission. Want concrete examples? There are tons of responsible businesses out there today implementing innovative initiatives and making positive impacts. Keep reading for a few inspiring examples of corporate social responsibility in action. 1. TenTree: Tree planting and community projectsTenTree is a Canadian sustainable clothing company founded in 2012 with CSR embedded directly into their business model. 2. Patagonia: Sustainability and environmental impactPatagonia is an American outdoor clothing brand that’s been around since 1973. They’re largely considered trailblazers of corporate social responsibility and consider themselves “an activist company.” Patagonia focuses on climate change issues and reducing their environmental impact by working with renewable energy, encouraging clothing longevity and repairs and reducing their carbon footprint. They also impose a “Earth Tax” on themselves by donating 1% of their sales to environmental nonprofits. 3. BNP Paribas: Employee volunteering & givingBNP Paribasis a leading European bank from Switzerland that has been active since 1872. Although they’ve had various CSR initiatives going on for the past few years, they’ve recently begun developing them more robustly with the help of Alaya. One of the central pillars of BNP Paribas’ corporate social responsibility strategy is employee engagement and solidarity. In order to develop this pillar, they give employees up to 16 hours (or 2 working days) to use for volunteer initiatives. 4. The Walt Disney Company: Social impact relating to childrenThe Walt Disney Company is another company that needs no introduction. Most importantly, it’s a mass media and entertainment conglomerate that’s repeatedly received awards and accolades for their social initiatives. Their list of CSR programs is extensive, but their signature initiatives relate to social impact and the well-being of children. They do so by donating to nonprofits focusing on children and families as well as their well-known hospital visits and wish granting programs. In 2019, Disney donated $338.2 million dollars to these causes and currently works with 750 hospitals worldwide. 5. NuSkin: Fighting famine & povertyNuSkin is an American personal care products and dietary supplements company that was founded in 2002. They give back through a variety of initiatives, and one of them is called Nourish the Children. This program provides malnourished children with healthy, nutrient-rich meals. Basically, NuSkin customers and employees can purchase meals to be distributed to famine-stricken children by nonprofits specializing in relief distribution. Over 650 million meals have been donated since 2002. Ways to implement corporate social responsibility There are countless ways to implement CSR initiatives into your business. Many of these examples are quite advanced in their CSR journey, but CSR can start with just one action. In fact, companies often start with 1 or 2 initiatives that develop over time. Whether big or small, taking action is what counts and ultimately, creates the positive impact in the world. First, ensure that you’ve defined your CSR strategy, as discussed above. Remember to establish a system that engages and involves your employees as well. Then, you’ll have to decide if you want to do so with a tool or without a tool. Without A Tool: If you choose to implement your CSR initiative without a specific tool, you’ll need to establish a CSR structure that gets your whole company, as well as your customers and stakeholders, involved. Once you’ve defined the cause that your company wants to address via a CSR program, you’ll need to establish your goals as well as what your success indicators will be. Once your program is ready to implement, you’ll need to focus on communication. This communication can be done through social media, your website, connecting with third parties and sponsors, organizing promotional events, online & traditional advertising and creating engaging content. With A Tool: Nowadays, tools exist to help you implement CSR into your business. Alaya provides a corporate giving software that’s specifically designed to engage employees in corporate social responsibility initiatives. It’s a single digital CSR platform that manages all your giving programs and is the perfect way for your business to get started with CSR and its benefits. One of the biggest mistakes companies make is failing to engage their employees with CSR initiatives. In fact, the 2016 Cone Communications Millennial Employee Engagement studyshowed that 89% of millennials interviewed said they wanted to be active participants in helping their company improve their responsible business practices. FAQsWho organises CSR strategies and initiatives? This varies greatly depending on the company’s size, specific needs and overall business model. Larger, more established companies will often have a department in charge of corporate social responsibility or contract a consultant for that specific purpose. However, it can also fall under the umbrella of public relations, marketing, head office or human resources. I want to implement CSR initiatives into my workplace but don’t know where to start. Your CSR activities should contribute to positive change and have a positive impact, but nowadays they need to go even further. In order for CSR programs to be sustainable and give your business a competitive advantage, they should also align with your company’s purpose, incorporate stakeholder feedback, prioritise customer and community engagement, involve associated nonprofit organisations and provide education. How do I know what CSR initiatives are right for my workplace? To start off, brainstorm and research good causes that align with your company’s mission. Try doing this within your head office, at a board meeting or with all your company’s employees. As noted by the Harvard Business Review, the main goal of CSR should be: “to align a company’s social and environmental activities with its business purposes and values.” Need help getting started? CSR initiatives often relate topics covered within the United Nations Sustainable Development Goals such as:
What is corporate social responsibility and examples?What is CSR and examples? CSR is where businesses look at how they can better serve society as a whole, thereby improving its public image and relations. Examples include Google that invested $1.5 billion into renewable energy, and Disney which invested $100 million in children's hospitals.
What is corporate social responsibility?Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders.
What is corporate social responsibility give at least 2 examples?Examples of social responsibility in corporations
Charitable giving and volunteer efforts: Companies are giving employees time off for volunteering every year and also donating portions of revenue to a charitable organization.
What are three examples of CSR?Working for the community, such as volunteering, giving blood donations, and working at a food bank or animal shelter. Supporting issues that affect society, such as advocating political or social issues that can help others—for example, advocating for child labor laws, purchasing fair trade products, recycling.
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