Shared previously was the Corporate Social Responsibility and its importance in an organization. The following three points are overviews from previous discussion.
Corporate Social Responsibility is the way a company’s front-line employees or managers view their duty or obligation to make decisions that enhance, protect, and promote the welfare and well-being of stakeholders and society as a whole.
Stakeholders are the people and groups supplying a company with its productive resources and therefore have a claim or stake in the company.
Importance of Corporate Social Responsibility is to build a good reputation or goodwill and the rewards are increased business and improved ability to obtain resources from stakeholders for the overall societal wealth.
Is your corporation Socially Responsible? Managers can show support for their stakeholders by showing any of these nine Corporate Socially Responsible Behaviors:
Severance Pay: Provide severance pay in order to help laid-off workers weather the storm until they find another job.
Professional Training: In order to prevent workers from becoming obsolete in the work field of changing technology, offer them opportunities to enhance or acquire additional skills to remain productive.
Time Off: Allow employees time off when in need of receiving or providing health care for themselves or close family members.
Pension Benefits: Provide pension or some form or retirement benefits such as 401K to employees.
Charitable Contributions: Support local charities in the arts or good works whose goals are to better society and other lives in need.
Rethink Closure: Decided to keep open those factories whose closure may devastate the local community.
Protect Jobs: Keeping companies operating in the United States from going abroad to protect the jobs of American workers.
Eco-Friendly: Invest in green initiatives and eco-friendly practices that prevent dangerous pollutants from entering the environment.
Living Standards: Choosing to help improve the development and economic base of poor countries and their living standards.