BUS-FPX4801_Assessment4-1
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Capella University
BUS-FPX4801
CORPORATE SOCIAL RESPONSIBILITY
POLICY
ANTI-NEPOTISM
What is Corporate Social Responsibility?
Corporate Social Responsibility (CSR) allows businesses to take responsibility for their actions and while practicing CSR, the business can positively affect not only their reputation but their profit. CSR initiatives fall into four categories of responsibility; environmental, ethical, philanthropic, and economic. For the policy that will be created, I
will be focusing on ethical responsibility. Corporate Social Responsibility Policy Profit Advantages & Disadvantages
CSR policies can both complement and conflict with profit-maximizing goals as the stance a company takes can determine whether it will be well received or not and therefore could either positively or negatively affect profit. When a business shows a good relationship with their social environment, maximizing profits is considered and CSR can improve company profit margins. First, customers are aware of local, national, and global issues and the company they purchase from stance on these issues can influence their buying decisions. This is even more true when competing companies are
showing concern and are taking positive actions over those issues. Customers will be willing to pay more to those companies which will allow them to charge more and make a bigger profit. In addition to the company's customers, the public image will be great which is important for attracting new customers and investors. CSR can attract investors
and new employees while retaining their current employees because social responsibility is a part of why investors invest and employees want to work for you. Both
of these pieces can also increase profit and will show how CSR can positively affect customers, stakeholders, employees, and the public. CSR policies can also negatively
affect profit-maximizing goals. When looking at things like donating to charity or using more expensive techniques to reduce pollution for example, the company’s profits may decrease as they are spending money on these things. This not only affects the company but also the stakeholders and presents a conflict as this also decreases profit for the stakeholders. Creating a CSR policy for a company can greatly enhance its reputation and public perception. For example, a company that is known for its corporate responsibility is Ben & Jerry’s. This company has made the center of their business strategy all about this. They were one of the first companies to offer employees in same-sex partnerships equal domestic benefits, they created a hiring program to employ ex-convicts and are known for speaking out on social issues. Ben & Jerry’s has shown commitment to CSR and therefore is more trustworthy to customers, employees, stakeholders, and investors. Social responsibility policies support the company’s profit, sales, and marketing efforts. They boost employee morale and happier employees lead to greater productivity which can boost company profit. This will also increase customer retention and loyalty which will positively affect sales and profit. Companies with these policies will stand out among
the crowd and can be used for strong marketing and brand imaging. This will also attract investment opportunities which will add to the company’s profit. With all of these benefits of being a socially responsible company, increased profitability and long-term financial success are achievable.
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Related Questions
Corporate social responsibility includes:a) doing what’s right.b) having policies that consider environmental, societal,and financial impact.c) considering a product from design to disposal.d) all of the above.e) a and b only
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All definitions of Corporate
social responsibility
recognize that:
O a. The natural
environment should
be the main focus of
CSR activities
b. Companies have a
responsibility for their
impact on society
and environment
O C. Business ethics is a
complex issue
o d. Companies must pay
equal attention to the
business ethics and
sustainability.
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Corporate social responsibility (CSR) is a type of business self-regulation with the aim of being socially accountable. There is no one "right" way companies can practice CSR; many corporate CSR initiatives strive to positively contribute to the public, the economy, or the environment. In today's socially conscious environment, employees and customers place a premium on working for and spending their money with businesses that prioritize CSR.
Critically evaluate the extent to which Strathmore University can benefit from corporate social responsibility. In your response recommend some of the CSR initiatives which Strathmore can undertake
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When an Image of Social Responsibility May Be Greenwashing
Ben and Jerry’s Ice Cream started as a small ice cream stand in Vermont and based its products on pure, locally supplied dairy and agricultural products. The company grew quickly and is now a global brand owned by Unilever, an international consumer goods company co-headquartered in Rotterdam, The Netherlands, and London, United Kingdom.
According to its statement of values, Ben and Jerry’s mission is threefold: “Our Product Mission drives us to make fantastic ice cream—for its own sake. Our Economic Mission asks us to manage our Company for sustainable financial growth. Our Social Mission compels us to use our Company in innovative ways to make the world a better place.”
With its expansion, however, Ben and Jerry’s had to get its milk—the main raw ingredient of ice cream—from larger suppliers, most of which use confined-animal feeding operations (CAFOs). CAFOs have been condemned by animal-rights activists as harmful to the…
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What unethical business practices were involved in the Wells Fargo incident? Give examples and demonstrate detailed ethical reasoning using ethical reasoning and relevant factual information
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a) How does Corporate Shared Value (CSV) bring more benefits to the business, society and the environment compared to Corporate Social Responsibility (CSR)?
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Corporate Social Responsibility (CSR) refers to a company's commitment to taking actions that benefit society beyond its core business activities and profit generation. It encompasses a wide range of initiatives aimed at environmental sustainability, ethical labor practices, community development, and philanthropy. By engaging in CSR activities, companies can build positive reputations, enhance employee morale, and contribute to the well-being of the communities in which they operate.
How can a company strike a balance between maximizing profits for shareholders and fulfilling its CSR obligations to society and the environment?
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General introduction about ethics and CSR.
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1. The primary argument for corporate social responsibility states that for business to have a healthy climate in which to operate in the future, comment.
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The Write Stuff, Inc., a manufacturer of designer journals and notebooks, switched to using recycled paper to manufacture its products. It also changed the materials and design of its covers and binding material to eliminate non-recyclable plastics. The changes made by the Write Stuff, Inc. are an example of __________ responsibility.
Group of answer choices
legal
economic
shareholder
philanthropic
corporate social
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Suppose your city is debating a change in policy from illegal use to legalizing recreational use of marijuana and cannabis products. Your local officials ask you to identify the appropriate aspects required to perform a cost- benefit
analysis of this policy change. Using the principles of cost-benefit analysis, your local officials need help in identifying and understanding the benefits to consumers, the benefits to producers, total costs to consumers, total costs
to producers, total costs from possible externalities, opportunity costs, incommensurable effects and intangible effects. For simplicity, dynamic time effects, which involve discount rates, are ignored.
Following the principles of cost-benefit analysis, are the possible positive health effects (a positive externality) accounted for in cost-benefit analyses?
O No. The health effects do not factor into cost-benefit analysis.
O Yes. The health effects should be estimated but are a transfer and thus ultimately do not count…
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discuss the possible scenario and cases at work that you will be able to use and apply each of the following concepts and knowledges. (Note: A scenario is more than just an example. A scenario shall include the background, persons involved, cause and effect of the incident, decision to make, and etc.)
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(Guideline: Write about any other three suitable CSR activities which can be conducted by the companies you selected. Also write, what will be the benefit of your proposed CSR to the companies and public)
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What is Corporate Social Responsibility?
Who are the stakeholders?
How to identify the key stakeholders of a particular company?
Why is it necessary for a company to have ethical and philanthropic
responsibility?
What are some examples of philanthropic responsibility?
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What is corporate social responsibility? Explain
how having a corporate social responsibility policy
could help a new company and describe at least one
social responsibility policy that a new company may
want to implement
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Do you think the requirements for antitrust injury and standing have beneficial or negative effects on consumer welfare? That is, do they limit meritorious antitrust claims? State your reasons.
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Preparation
CSR strategies encourage the company to make a positive impact on the environment and stakeholders including
consumers, employees, investors, communities, and others. Corporate social responsibility (CSR, also called
corporate conscience, corporate citizenship, or responsible business) is a form of corporate self-regulation
integrated into a business model. CSR policy functions as a self-regulatory mechanism whereby a business
monitors and ensures its active compliance with the spirit of the law, ethical standards, and national or
international norms.
Your Task
1. Select a company (domestic or international) that will be the basis for your research.
2. Research the company's record in the area of CSR. Be sure to look at both their domestic and well
as international reputation (if any).
Complete this assignment that contains the following information:
1. A brief (one-paragraph) summary of the business you selected.
2. Describe specific examples of corporate…
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To what extent does “discretionary responsibilities” support the argument for corporate social responsibility?
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(CSR) Corporate social responsibility.
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