Corporate social responsibility

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What is social responsibility?
The firms responsibility to its employees, customers and the environment
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What are the social responsibilities a firm has to its employees?
Above market or min wage, holidays, training and staff development, job security
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What are the social responsibilities a firm has to its customers?
Saftey- producing products that meat minimum safety requirement, Producing evironmentally friendly products
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What social responsibilities does a firm have to their suppliers?
Honoring of contracts and prompt payment
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What are the social responsibilities a firm has to the environment?
Reduction of negative externalities eq reduction in CO2, humane methods when rearing live stock or green arable production (fertilizers)
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What social responsibilities does a firm have to the local community?
Provide employment, contribute to local communities/ culture
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What is a carbon foot print?
How much a firm is damaging the environment
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What is the Carbon Trading Scheme?
All industries will be given a carbon permit which will give them a limit on their carbon emissions. If a firm exceeds their emissions then they will have to purchase permits from firms (who can sell to make a profit)
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What are green taxes?
Tax on things that damage the environment
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What is the UK Climate Change Act?
The government has committed itself to an 80% reduction in carbon emissions by 2050
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What did Dell do with their computers to deal with environment issues?
Donated $2 from the sale of every new computer to carbon off setting schemes
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What are offsetting schemes?
Money goes to planting trees and replacing trees.
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What did M&S do to help the environment?
Pledged to be carbon neutral as a business, estimating it would cost around £350 million, to buy new streamline lorries (saves fuel)
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What is the Kyoto agreement?
Commited all countries to reduce their Greenhouse Gases by 15%
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How much did the EU commit to?
20%
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How much did Canada, Spain, Ireland and the UK reduce?
33%, 44%, 32%, 19%
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Who refused to reduce theirs? and why?
Kenya, because their carbon footprint is 0, China,has lower er head output
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What is Corporate Social Responsibility ?
Doing more than is expected of them and try to meet all stakeholders needs
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What is the Stakeholder approach?
Focusing on stakeholders rather than just shareholders
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What are benefits of the stakeholder approach?
Keep exisitng customers and win new ones, recruiting and keeping high quality employees and developing a positive long term corporate image
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What are ethics?
moral principles that should underpin decision making
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What is a social audit?
recognises the range of impacts that a corporation has on society
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What can an audit take into consideration?
Wages, use of toxic substances, impact on the environment, pollution, monopoly pricing
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What are problems that could occur when undertaking a social audit?
The accuracy of the figures and data, many factors are difficult to quantify(eg impact on landscape), the cost of the audit and perceived political bias of reports
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What does an environmental or eco-audit attempt tp analyse?
The affect of a firm on the environment
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What are reasons for the HS2 train?
Jobs created for building it, Job opportunities in cities, Save time, More environmentally friendly as it discourages car travel
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What are reasons against the HS2?
At 1% of price could improve exisisting trains, money could be invested somewhere else
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What are examples of pressure groups?
Green peace, Friends of the Earth, Trade unions, Amnesty national
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How did a pressure group effect starbucks?
They got people to write 'tax payer' on their cup and boycotted them, resulting in a sales fall of 20%, Then at an event with an ice ring in London where asked to tweet messages to families to appear, used it to attack Starbucks
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How did a pressure group effect PG Tips?
Because they destroyed the rain forest to plant trees and were neglecting staff, they were made to stop destroying it and paid workers more, provided health care and educated them, in return they got the Rainforest Alliance symbol on products
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What is lobbying?
Trying to influence those in power, eg Politicians
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Why are pressure groups becoming more effective?
The internet, social media eq facebook and twitter, and can lead to public news
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Which country is a pressure group likely to be effect in?
England because media is used frequently and richer
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Which country is a pressure group less likely to impact on?
China because they do not use much media because it is a dictatorship
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What is a shareholder friendly firm?
One which concentrate on maximising returns for shareholders, regardless of the detrimental effects it could have on stakeholder groups eq Dyson
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What is a stakeholder friendly firm?
One which takes into account the well being of all stakeholder groups, even if this conflicts with maximising profits eq Virgin Atlantic
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Card 2

Front

What are the social responsibilities a firm has to its employees?

Back

Above market or min wage, holidays, training and staff development, job security

Card 3

Front

What are the social responsibilities a firm has to its customers?

Back

Preview of the front of card 3

Card 4

Front

What social responsibilities does a firm have to their suppliers?

Back

Preview of the front of card 4

Card 5

Front

What are the social responsibilities a firm has to the environment?

Back

Preview of the front of card 5
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