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Feedforward: Coaching For Behavioral Change

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Module 7: McClelland’s Acquired Needs Theory

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Module 7: McClelland’s Acquired Needs Theory

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McClelland Theory of Needs Explained In 60 Seconds

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Module 6: Effective, Efficient, and Persuasive Communication

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Module 6: Effective, Efficient, and Persuasive Communication

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What is an Operational Plan - Business Work Plan - Business Planning

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Module 3: Managment w/in a Global Organization

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Module 3: Managment w/in a Global Organization

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Module 2: Ethics and Corporate Social Responsibility

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Module 2: Ethics and Corporate Social Responsibility

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What Is Corporate Social Responsibility (CSR)?

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public. By practicing corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.

Engaging in CSR means that, in the ordinary course of business, a company is operating in ways that enhance society and the environment instead of contributing negatively to them.

Key Takeaways

Understanding Corporate Social Responsibility (CSR)

Corporate social responsibility is a broad concept that can take many forms depending on the company and industry. Through CSR programs, philanthropy, and volunteer efforts, businesses can benefit society while boosting their brands.

For a company to be socially responsible, it first needs to be accountable to itself and its shareholders. Companies that adopt CSR programs have often grown their business to the point where they can give back to society. Thus, CSR is typically a strategy that's implemented by large corporations. After all, the more visible and successful a corporation is, the more responsibility it has to set standards of ethical behavior for its peers, competition, and industry.

Types of Corporate Social Responsibility

In general, there are four main types of corporate social responsibility. A company may choose to engage in any of these separately, and lack of involvement in one area does not necessarily exclude a company from being socially responsible.

Environmental Responsibility

Environmental responsibility is the pillar of corporate social responsibility rooted in preserving mother nature. Through optimal operations and support of related causes, a company can ensure that it leaves natural resources better than before its operations. A company can pursue environmental stewardship through:

Reducing pollution, waste, natural resource consumption, and emissions through its manufacturing process.

Recycling goods and materials throughout its processes, including promoting re-use practices with its customers.

Offsetting negative impacts by replenishing natural resources or supporting causes that can help neutralize the company's impact. For example, a manufacturer that deforests trees may commit to planting the same amount or more.

Distributing goods consciously by choosing methods that have the least impact on emissions and pollution.

Creating product lines that enhance these values. For example, a company that offers a gas lawnmower may design an electric lawnmower.

Ethical Responsibility

Ethical responsibility is the pillar of corporate social responsibility rooted in acting in a fair, ethical manner. Companies often set their own standards, although external forces or demands by clients may shape ethical goals. Instances of ethical responsibility include:

Fair treatment across all types of customers regardless of age, race, culture, or sexual orientation.

Positive treatment of all employees including favorable pay and benefits in excess of mandated minimums. This includes fair employment consideration for all individuals regardless of personal differences.

Expansion of vendor use to utilize different suppliers of different races, genders, veteran statuses, or economic statuses.

Honest disclosure of operating concerns to investors in a timely and respectful manner. Though not always mandated, a company may choose to manage its relationship with external stakeholders beyond what is legally required.

Philanthropic Responsibility

Philanthropic responsibility is the pillar of corporate social responsibility that challenges how a company acts and how it contributes to society. In its simplest form, philanthropic responsibility refers to how a company spends its resources to make the world a better place. This includes:

Whether a company donates profit to charities or causes it believes in.

Whether a company enters into transactions only with suppliers or vendors that align with the company philanthropically.

Whether a company supports employee philanthropic endeavors through time off or matching contributions.

Whether a company sponsors fundraising events or has a presence in the community.

Financial Responsibility

Financial responsibility is the pillar of corporate social responsibility that ties together the three areas above. A company might make plans to be more environmentally, ethically, and philanthropically focused; however, it must back these plans through financial investments of programs, donations, or product research. This includes spending on:

Research and development for new products that encourage sustainability.

Recruiting different types of talent to ensure a diverse workforce.

Initiatives that train employees on DEI, social awareness, or environmental concerns.

Processes that might be more expensive but yield greater CSR results.

Ensuring transparent and timely financial reporting including external audits.

Volunteering

Benefits of Corporate Social Responsibility

As important as CSR is for the community, it is equally valuable for a company. CSR activities can help forge a stronger bond between employees and corporations, boost morale, and aid both employees and employers in feeling more connected to the world around them. Aside from the positive impacts to the planet, here are some additional reasons businesses pursue corporate social responsibility.

Brand Recognition

According to a study published in the Journal of Consumer Psychology, consumers are more likely to act favorably toward a company that has acted to benefit its customers as opposed to companies that have demonstrated an ability to delivery quality products. Customers are increasingly becoming more aware of the impacts companies can have on their community, and many now base purchasing decisions on the CSR aspect of a business. As a company engages more in CSR, it is more likely to receive favorable brand recognition.

Investor Relations

In a study by Boston Consulting Group, companies that are considered leaders in environmental, social, or governance matters had an 11% valuation premium over their competitors. For companies looking to get an edge and outperform the market, enacting CSR strategies tends to improve how investors feel about an organization and how they view the worth of the company.

Employee Engagement

Another study by professionals from Texas A&M, Temple, and the University of Minnesota found that CSR-related aligning firms and employees serve as non-financial job benefits that strengthen employee retention. Workers are more likely to stick around a company that they believe in. This in turn reduces employee turnover, disgruntled workers, and the total cost of a new employee.

Risk Mitigation

By adhering to CSR practices, companies can mitigate risk by avoiding troubling situations. This includes preventing adverse activities such as discrimination against employee groups, disregard for natural resources, or unethical use of company funds. This type of activity is likely to lead to lawsuits, litigation, or legal proceedings that may harm the company financially or expose it to negative news headlines.

In 2010, the International Organization for Standardization (ISO) released ISO 26000, a set of voluntary standards meant to help companies implement corporate social responsibility. Unlike other ISO standards, ISO 26000 provides guidance rather than requirements because the nature of CSR is more qualitative than quantitative, and its standards cannot be certified.

ISO 26000 clarifies what social responsibility is and helps organizations translate CSR principles into practical actions. The standard is aimed at all types of organizations, regardless of their activity, size, or location. And because many key stakeholders from around the world contributed to developing ISO 26000, this standard represents an international consensus.

Examples of Corporate Social Responsibility

Starbucks ( SBUX) has long been known for its keen sense of corporate social responsibility and commitment to sustainability and community welfare. In its 2022 Environmental and Social Impact Report, the coffee giant highlights taking care of its workforce and the planet among its CSR priorities. Starbucks points to its investments in its employees through stock grants and providing additional medical, family, and educational benefits. In terms of environmental sustainability, the company's goals include achieving 50% reductions in greenhouse gas emission, water consumption, and waste by 2030.

As part of its annual reporting on ESG, Home Depot ( HD) highlighted its achievements in focusing on its employees, operating sustainably, and strengthening its communities. The company has invested more than 1 million hours per year in training to help front-line employees advance in their careers, aims to produce or procure 100% renewable energy to operate its facilities by 2030, and has plans to spend $5 billion per year with diverse suppliers by 2025.

General Motors

General Motors won the Sustainability Leadership Award from Business Intelligence Group in 2022 and was among Diversity Inc.'s top 50 companies for diversity for a seventh consecutive year in 2021. According to its latest Sustainability Report, the automaker provided $60 million in grants to more than 400 U.S. nonprofits focusing on social issues, and it has agreements in place to use 100% renewable electricity at its U.S. sites by 2025.

Why Should a Company Implement CSR Strategies?

Many companies view CSR as an integral part of their brand image, believing that customers will be more likely to do business with brands that they perceive to be more ethical. In this sense, CSR activities can be an important component of corporate public relations. At the same time, some company founders are also motivated to engage in CSR due to their convictions.

Why Is CSR Important?

The movement toward CSR has had an impact in several domains. For example, many companies have taken steps to improve the environmental sustainability of their operations, through measures such as installing renewable energy sources or purchasing carbon offsets. In managing supply chains, efforts have also been taken to eliminate reliance on unethical labor practices, such as child labor and slavery.

Although CSR programs have generally been most common among large corporations, small businesses also participate in CSR through smaller-scale programs, such as donating to local charities and sponsoring local events.

What Are the Benefits of CSR?

CRS initiatives strive to have a positive impact on the world through direct benefits to society, nature and the community in which a business operations. In addition, a company may experience internal benefits through the initiatives. Knowing their company is promoting good causes, employee satisfaction may increase and retention of staff may be strengthened. In addition, members of society may be more likely to choose to transact with companies that are attempting to make a more conscious positive impact beyond the scope of its business.

What Are the 4 Types of CSR?

CSR initiatives are often broken down into four categories: environmental, philanthropic, ethical, and economic responsibility. Environmental initiatives focus on preservation of natural resources, while philanthropic initiatives focus on donating to worthy causes that may not relate to a business. Ethical responsibility ensures fair and honest business operations, while economic responsibility promotes the fiscal support of the goals above.

What Companies Have the Best CSR?

There is no single defining rubric for evaluating the CSR of all companies. Various sources will review and compile rankings differently. Since 1999, Corporate Responsibility Magazine has ranked the top 100 Best Corporate Citizens each year among the 1,000 largest U.S. public companies. Rankings are determined based on employee relations, environment impact, human rights, governance, and financial decisions.

In 2022, the top five ranked companies on the list were Owens Corning ( OC), PepsiCo ( PEP), Apple ( AAPL), H.P. ( HPQ), and Cisco ( CSCO).

The Bottom Line

Companies striving to measure success beyond bottom-line financial results may adopt corporate social responsibility strategies. These strategies may target environmental, ethical, philanthropic, and fiscal responsibility that extend beyond the products they sell. CSR aims to make the world a better place beyond transacting with customers and may result in company-specific benefits as well.

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Corporate Social Responsibility (CSR) Explained With Examples

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Corporate social responsibility (CSR) is a business model that helps a company be socially accountable to itself, its stakeholders, and the public.

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Module 2: Ethics and Corporate Social Responsibility

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Module 2: Ethics and Corporate Social Responsibility

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WASHINGTON ― Senate Democrats have been demanding congressional action in response to last month's bombshell report about Supreme Court Justice Clarence Thomas failing to disclose hundreds of thousands of dollars in luxury gifts from a GOP megadonor.

They're holding a Tuesday hearing to examine Supreme Court ethics reforms. They asked Chief Justice John Roberts to testify (he declined), so now they're pressing him to come up with a formal code of conduct for the court. If he won't do it, Democrats have a bill that will.

That's a stark contrast to Republicans, who have almost unanimously retreated into silence or scoffed at the idea that Congress should do anything to serve as a check on justices' behavior. There's only one GOP senator backing any ethics reforms to the court: Lisa Murkowski of Alaska introduced a bill with Sen. Angus King (I-Maine) that would require the justices to create a code of conduct for themselves and make it public on the court's website. In other words, the bare minimum.

HuffPost asked GOP senators late last week what they think of Murkowski's proposal and, more broadly, why they don't think the Supreme Court is way overdue for ethics reforms.

The question isn't just pertinent because Thomas has been accepting luxury trips almost every year for more than 20 years from billionaire Harlan Crow and not disclosing them. Or because Thomas sold his ancestral home to that billionaire and didn't disclose it. Or because that billionaire has had financial interests before the court the entire time. Or because Neil Gorsuch failed to disclose that he sold property for more than $1 million to the chief executive of a law firm that routinely has business before the court.

Some Republicans didn't seem aware of that last part.

"They do," said Sen. Cynthia Lummis (R-Wyo.), when asked if she thinks the justices should have a formal code of conduct. "Well, not a code. They have what we have, right? They have a setup where they disclose and have parameters around disclosure?"

"They do that now," said Sen. Chuck Grassley (R-Iowa), the former chairman of the Judiciary Committee, when asked about the idea of justices creating an ethics code for themselves. "They just did it on March 7. What more would you do?"

Grassley was referring to a subcommittee of the Judicial Conference, which sets policy for federal courts, last month tightening gift disclosure rules for federal judges, including Supreme Court justices. The new rules require them to disclose gifts and free trips, or when gifts are being reimbursed by a third party who is not the person giving the gift.

They don't cover gifts of overnight stays at friends' vacation homes, though, which was one of the many perks Thomas got from Crow.

OLIVIER DOULIERY via Getty Images

The rules change is also not the same thing as Supreme Court justices being bound to a code of ethics. While justices are subject to federal statutes that impose ethical standards on all federal judges, there's no enforcement mechanism in place for Supreme Court justices to make sure they follow disclosure rules. They make their own rules and it's on them to follow them. A code of conduct for the court would, at the very least, offer some transparency on what their rules are for themselves.

Despite all of this, Republican senators seem content to let the nation's highest court carry on as it currently is. Some are dismissing Democrats' latest efforts as purely political. Some argue it wouldn't be constitutional for lawmakers to meddle in the court's affairs.

"Ohhh, I don't know about that," Sen. Joni Ernst (R-Iowa) said of Murkowski's proposal. "Separation of powers?"

"There's a reason the separate branches of government were established," said Lummis. "Good heavens, they're judges. This is something they can and should do on their own."

Grassley said it would be "inappropriate and unnecessary" for senators to take any action to impose ethics rules on Supreme Court justices because of the new disclosure regulations put in place for federal courts last month.

"If those aren't adequate, we aren't going to know that for a year or two," said the Iowa Republican. "So, just wait for a year or two to see how the new rules work out."

Even Sen. Susan Collins (R-Maine), who is considered one of the few moderates in the chamber and who often sides with Murkowski on various issues, didn't weigh in on her bill.

"This is a very complex issue involving the separation of powers, and Senator Collins believes the appropriate forum for these discussions is the Judiciary Committee," said Collins spokeswoman Annie Clark. "If the Committee holds a hearing on this proposal and others, she looks forward to seeing the results of it."

"Read the Constitution, folks."

But some legal experts said it's nonsense to suggest that lawmakers would be overstepping if they pushed through ethics reforms for the court.

"Read the Constitution, folks," said Caroline Fredrickson, a distinguished visiting professor at Georgetown Law and a senior fellow at the Brennan Center for Justice. "Congress is responsible for creating the jurisdiction for the Supreme Court, and Congress creates the lower courts ... It's a really self-serving argument that the court makes that somehow there's this incredible separation of powers issue for Congress to intervene at all."

Fredrickson, who previously served on President Joe Biden's Commission on the Supreme Court that examined potential reforms to the court, said Congress has plenty of roles to play in how the court functions. Impeachment is one tool, she said, as is approving the court's budget. Lawmakers also have the authority to expand the size of the court, which Fredrickson said is "an existential need" to many people at this point.

"Really, the idea that somehow none of this conversation is about how the Supreme Court should absolutely obey the most basic of ethics laws and have a code of conduct really underscores the problem that we have," she said. "A judiciary that is acting with impunity."

As for why the Supreme Court hasn't ever had a formal ethics code, Fredrickson said when the Judicial Conference adopted its code for the lower courts decades ago, it just "didn't seem so vital" to do the same for the justices.

"They've slipped under the radar until now," she added. "It's been due to great reporting ... that has really brought the spotlight on the fact that the Supreme Court has not been abiding even by the rules it says it follows, which then makes us look at all the rules that it's not legally required to follow and ask the question, 'Why not?'"

All of these issues will be hashed out in Tuesday's hearing in the Senate Judiciary Committee. What's clear is that Sen. Dick Durbin (D-Ill.), the chairman, really wants to find a bipartisan way forward. What's less clear is if or how Republicans plan to engage at all.

A spokesman for Sen. Lindsey Graham (R-S.C.), the top Republican on the committee, said only that "he hasn't said anything" about Murkowski's bill or generally about the Supreme Court needing to tighten its ethics rules.

Murkowski, for one, said she hopes her bill can be a starting point for people to realize that ethics reforms on the court aren't about partisanship, but about restoring public trust in the court, which is at a historic low.

"I know Harlan Crow. I like Harlan Crow. I like Justice Thomas," she told HuffPost. "I don't view this as going after Justice Thomas or picking on anybody."

"Just as we have codes of conduct and disclosures that are required for all of us, is it so unreasonable to suggest the Supreme Court should also have a code of conduct?" she asked. "That the public not only knows exists but knows what it says? Let's build that trust."

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Republicans Fine With Supreme Court Justices Having No Formal Code Of Ethics

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WASHINGTON ― Senate Democrats have been demanding congressional action in response to last month's bombshell report about Supreme Court Justice Clarence Thomas failing to disclose hundreds of thousands of dollars in luxury gifts from a GOP megadonor.