The Story of Corporate Social Responsibility (2006), Dunne said that corporate social responsibility has eventually come to mean “responsiveness”. “Responsiveness” does not imply any particular action but a range of actions or range of possible responses based on a company’s perception of social or consumer needs and the company’s role in responding either to society’s or the consumers’ needs. Carroll (1999, p. 268) explained that meaning of corporate social responsibility has undergone an evolution from its “beginning in the 1950s, which marks the modern era of CSR.” Carroll (1999, p. 268) pointed out that the “alternative themes” in corporate social responsibility “included corporate social performance (CSP), stakeholder theory, and business ethics theory.” Against the Dunne (2007) viewpoint, the Carroll (1999, p. 268) viewpoint is that corporate social responsibility is “a core construct that yields to or is transformed into alternative thematic frameworks.” On investigating whether corporate social responsibility adds to financial return, Cardebat & Sirven (2010) concluded that the results of their study do not provide evidence that the adoption of corporate social responsibility improves corporate financial performance. Cardebat & Sirven (2010) used statistical and econometric methods in testing hypotheses on the role of corporate social responsibility on company financial performance. On the other hand, the work of Ali et al. (2010) indicated that the practice of social responsibility may or may not promote the retention of consumer. Based on the study, it can nevertheless be argued however that the practice of corporate social responsibility can promote the retention of the customer base. In my study, I have chosen two cases: the case of the Aviva plc and the case of Thames Water Company. For reasons that will be explained later, Aviva appears to be a leading example of a company based in the United Kingdom that espouse corporate social responsibility consistently and diligently for the last several years and has gained additional prominence for the espousal as well as practice of that responsibility. Aviva claims to have “300 years of insights” which can be interpreted as having 300 years of engagement in the same or similar business (2011). Alternatively, the company “300 years of insights” is also described as “300 years of heritage” (2011). In contrast, Thames Water, a water company appears to have experienced a period in which its public image was at its worst. Lately, however, data are suggesting that Thames Water has invested in corporate social responsibility and may be profiting today in the said investment. Nevertheless, it appears that there are still avenues through which Thames Water’s practice of corporate social responsibility can be improved and which the company can exploit for greater profitability. II. Case 1: Aviva plc Aviva claims to the “world’s sixth largest insurance group and the biggest in the UK, with 36,100 serving around 44.5 million
Corporate Social Responsibility and Mass Media I. Introduction The projection of adoption if not the actual practice of corporate social responsibility is an irreversible trend in many corporations today. The majority of Fortune’s top 250 corporations “are actively pursuing Corporate Social Responsibility initiatives” or CSR (Dunne 2007, p…
Corporate social responsibility (CSR) is an essential facet of the business world in the last eighty years. As early, as the 1930’s idea of the social responsibility of organisations has already been alluded and discussed by some practitioners (Hemingway, 2002).
The impact of society on business and vice versa is becoming increasingly propagated each year. A firm’s consumers, products, markets, equipment, productivity and public image are all directly influenced by the social policies of a firm. A firm’s social policy must be incorporated into all strategic-management activities and most importantly in the development of mission statement.
Abercrombie & Fitch maintains a business model that attempts to utilise marketing as a means of creating an exclusive brand, one that is aspirational and caters only to attractive and youthful consumers. The CEO Mike Jeffries once indicated that he “did not want his core customers to witness people who are not as hot wearing Abercrombie branded clothing” (Devon 2013, p.2).
Ethical codes are considered by organizations to help members in understanding the right and wrong decisions that are taken by them. GlaxoSmithKline (GSK) a pharmaceutical giant operating all over the world has their own code of ethics which make them unique in the pharmaceutical industry.
Starbucks Corporation is one of the most successful coffeehouse companies. The well-known organization has an impeccable reputation. Being one of the largest and prosperous companies in the whole world; it continues to work for people, not against them.
Like a real person, a corporation can enter into contracts, sue and be sued, and pay taxes separately from its members. But exactly how separate is a corporation from its members
A corporation may be separate from its members for legal purposes, but when it comes to the question of morality, who is to be held responsible After all, the course to be taken by the corporation is decided solely by the people involved in running the corporation - the members, shareholders, owners, officers, whatever may be the name given.
All stakeholders and constituent groups that have an interest in the organization's operations are included in CSR's wide and multiple-level definition of society. Corporate social responsibility can be defined as "the broad concept that businesses are more than just profit-seeking entities and therefore also have an obligation to benefit society" (Werther & Chandler, 2006: 6-7).
372). The European Commission in 2001 suggested that “concept of CSR requires an enterprise to be accountable for its impact on all the relevant stakeholder” (The Law Society 2002, p. 3). Dunne (2007, p. 373) pointed out however that the meaning of corporate social
anization and can occur via organizational human resource assignment, contact with other groups, relationships and affiliation with other teams in an organization, emotional desire to belong to a certain team, emotional group support and assistance, shared goal and
According to Tapang and Bessong, social media can be regarded as an effective mode of marketing in the current era. They have pointed out that flow of information through social media has encountered huge popularity in the recent years due to its rise in demand. According to them, social media can be regarded as an effective mode of marketing.
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