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SHRM 21.pptx

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SHRM 21.pptx

  1. 1. • Corporate Social responsibility and Business Ethics STRATEGIC HUMAN RESOURCE MANAGEMENT IBBA 21 JULY 2022 DR. TAPASWINI DASH
  2. 2. Social Responsibility  Its overall way of business attempt to balance its commitments to relevant group and individual
  3. 3. What is Corporate Social responsibility
  4. 4. Goal of CSR  The goal of CSR is to embrace responsibility or the company’s actions and encourage a positive impact through its activities on the environment consumers employees communities, stake holders and all other members of the public sphere may also be considered as stakeholders.
  5. 5. Stakeholder in Corporation
  6. 6. Stake holder
  7. 7. What is Ethics  Ethics – belief about what is right and wrong  Based upon individual’s moral /value / social context ethical vs unethical behaviour
  8. 8. What is Business Ethic  Business ethics is a form of widely acceptable principle that applies to a business strategy. It applies to every aspect of business polices and its operation.  Major corporation went through scandals in US and Australia in the last decade or so. The unsavoury practice are:
  9. 9. Unsavory Practice  providing bribes for customers (many international firms)  massively increasing senior management compensation while laying off employees with less power (banks, car manufacturers and many others)  moving corporate head offices offshore to avoid being sued for prior business practices  moving corporate head offices to select off-shore locations to limit their tax exposure (many large multinational companies)  hiding bad environmental practices (mining and industrial organisations).
  10. 10. But what is “ethical”?  Is the action morally correct? Does it protect the rights and privileges of the people affected by it?  Is the action equitable? Is it fair to all the various stakeholders? Is the process leading to the action fair to all the various stakeholders?  Is the action consistent with the values of the organisation?  Would the organisation be comfortable to defend the action if it were widely publicised?
  11. 11. Corporate social responsibility  Corporate social responsibility (CSR) can be defined as balancing the needs of the different groups of stakeholders affected by a corporation’s actions (e.g. investors, employees, suppliers, customers, the community and the environment).  It concentrates on the current time period and tends to be focused more on relationships with stakeholder groups, with a specific emphasis on employees and communities.
  12. 12. Population definition of CSR  Corporate social responsibility (CSR) is a type of international private business self-regulation that aims to contribute to societal goals of a philanthropic, activist, or charitable nature or by engage in or support volunteering or ethically-oriented practices.
  13. 13. Characteristics of CSR The idea of CSR first appeared in the late 1960s in response to the need for business to address the effect of their activities.
  14. 14. Type of CSR Environmental initiatives Philanthropic Initiatives Adhere to Ethical Practice Adhere to Economic Responsibility
  15. 15. Social Business  A business that created and designed to address a social problem, a loss-loss, non dividend company:  It is financially self sustained and  Profits realized by the business are reinvested in the business itself with the aim of increasing social impact etc.
  16. 16. Exercise 1:  Read the article 30 min (?)  Answer the following question  What are the salient features of social business? 10 min  Briefly describe the differences between social business and corporate social responsibility.  15 min  “Social business is another type of corporate social responsibility”. Explain if you agree and/or disagree to this assertion? 20 min
  17. 17. business ethics and social responsibility  Every business’s basic aim is to gain profits for the company and its employee, but that does not mean a business can do whatever it wishes to do. There are a set of rules and responsibilities one has to follo  The main difference between business ethics and social responsibility is that the concept of business ethics is to know what is right or wrong for the company and its workers, while the concept of social responsibility is knowing what impact one’s business is making in the society and whether it is right or wrong.

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