Corporate Social Responsibility in the C0-Operative Bank

2256 Words Jan 24th, 2013 10 Pages
Name: Aja Mariama Danso
Kaplan ID: C0357076
LJMU: 480466
Topic: Corporate Social Responsibility- The Evaluation of the Co-operative Bank’s CSR and Ethical Stance

Contents

Page

1. Introduction ………………………………………………………………….. 2

2. Corporate Social Responsibility ……………………………………………... 2 2.1 Carroll’s CSR Models ……………………………………………………. 2 2.2 Modern CSR Argument ………………………………………………….. 3 2.3 Introduction of 3C-SR Model ……………………………………………. 3

3. The Co-operative bank and their Stakeholders ………………………………. 3

4. The Co-operative bank’s CSR and Ethical Finance Analysis ………………... 4 4.1 Sethi’s three-stage schema ……………………………………………….. 4 4.2 The 3C-SR Model ………………………………………………………... 5

5. Conclusion
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This model claims that Corporate Responsibility (CR) is a tool to making profit not ways of reducing revenue. This model is made up of three inter-related components, ethical and social commitment, connection with partners and consistency of behaviour. According to Meehan et al, if management encompasses all three elements it will build a strong corporate social performance and become a good corporate citizen. (Meehan et al, 2006). However, the models has not been based on observations and experiments, also there was no criticisms by other authors. It is subjective base and was not well supported.

3. The Co-operative Bank and Their Stakeholders

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Figure 1.3 The Co-operative Bank Stakeholders

The Co-operative bank is a part of the co-operative group, the largest consumer co-operative in the United Kingdom (UK). The bank offers a range of financial services such as saving accounts, current accounts loans and overdrafts. They are an organisation that makes profit consistently while operating in a socially and environmentally responsible manner by putting their ethics into action (www.co-operativebank.co.uk).

The Co-operative Bank is sensitive to the needs of all their stakeholders (see fig 1.3). It aspires to meet common economic, social, environmental and cultural needs of their stakeholders. Stakeholder of a company is anyone who has can be affected or
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