CSR Flashcards
WHAT IS CSR
operating a company in a manner that meets or exceeds societal expectations on ethical, legal and commercial requirements
CSR perspective
- societal perspective- companies should nit inluy be accountable for their financial performance but also their impact to society
- Strategy driven- social responsibilty is art of wealth creation process. a company runs in a socially responsible way because its csr policies are business driven in both the long term and short term
Stakeholder perspective- The company aligns its corporate values with the expectations with the stakeholder expectation. This policies expresses their commitment and responsibility to the stake holders
Ethical perspective- Corporates just like individuals have an obligation to act for the benefit of the society while doing no harm and the policies goes beyond the legal requirements. ethical codes might be required to communicate this shared goal through out the organization
political perspective- CSR should remain market driven and voluntary CSR policies should reflect the companies activities and the context in which they operate in. some have argued that Legislations should be imposed on standards of csr particularly multinationals
Philanthropic perspective- CSR is seen as a concept where companies voluntary contribute to better the society. CSR is peripheral to the main business and when times get hard its one of the first expenditures to be cut
Importance of Code of ethics
Basis for self evaluation and monitoring by peers
define a value system for the organization
communicate what the organization stands for
set standards for expected behaviour
Increase ethical awareness and judgement
promote high standards of practice
what is a competency framework
A tool created to enhance commitment to CSR practices which is offered as a way of thinking for all companies
Characteristics of a competency framework
1.Building capacity- Working with others to build the capability to manage the business effectively, to apply environmental and social concerns in their day-to-day roles
2.questioning business as usual- constantly questioning your business in relation to a more sustainable future and being open to improving peoples quality of life
3,understanding society- knowledge of how the business operates in the broader societal context and how its operations impact the society and a recognition that the business is part of the society
4 stakeholder relations - recognizing that stakeholders are all those that are impacted or have an impact to your business and all the risks that they present and taking their views into consideration
5 strategic view- ensuring that societal and environmental concerns are part of the overall business strategy so that CSR becomes business as
6. Harnessing Diversity- Recognizing that people are different and harnessing this diversity reflected in fair employment practices where everyone feels valued
what are the attainments of the Competency framework
Awareness-broad application of the core characteristics and how it might impact on their business
understanding- basic knowledge on some of the issue with the competence to apply them to specific areas
Application- The ability to supplement this basic knowledge of the issues with the competence to apply it to specific activities
Intergration- an in depth understanding of the issues and an expertise in embedding CSR in to the business decision-making process
Leadership- Ability to help managers across the organization in a way that fully integrates CSR unto the decision making process
Importance of a competency framework
BUilds a strong culture throughout the organizations
creates awareness in managing social and environmental issues
Change the employees’ mindset
Promote the appropriate CSR strategy throughout the organization between the company and stakeholders
principle 1
Businesses should support and respect the protection of internationally proclaimed human rights
principle 2
Make sure they are not complicit in human rights abuse
principle 3
businesses should uphold the freedom of association and the effective recognition of rights to collective bargaining
principle 3
businesses should uphold the freedom of association and the effective recognition of rights to collective bargaining
principle 4
Elimination of forced and compulsory labor
principle 5
Effective abolition of child labour
principle 6
Elimination of discrimination in respect of employment and occupation
principle 7
Businesses should support a precautionary approach to environmental challenges
Principle 8
Undertake initiative to promote greater environmental responsibility
principle 9
encourage development and diffusion of environmental friendly technology
principle 10
Businesses should work against corruption and all its forms including bribing and extortion
