What is meant by the term CSR
Corporate social responsibility is a contribution made by an organisation to be ethical and contribute to the economic development while improving the quality of life for its workers and thir family and the community.
Shareholders- shareholders want a return for their invest – they have the power of electing directors
Employers- employers want job security, fair pay and safe working environment- they have the influence of quality of service and induce industal action through strikes.
Buyers- good quality of product with cheap price they have the power of word of mouth, repeat custom and influencing reputation.
Suppliers- fast turnaround of pay for products, long relationships and fair offers for
Government- The government want job supplied to the community, companies to pay their taxes, and operate legally they have the power
Community- the community want jobs and want the companies to work in an environmental friendly way they have the power to stop business expanding though pattitions and barring planning persmission.
Can a company be profitable and ethical at the same time
Acclaimed by friedman the business of doing business is doing business. Wherther a company can contribute to CSR and the profitable solely depends on which field the business is in. According to vougel, a company can not be ethical if being ethical is not generating revenue for the company and struggeling to make ends meet.
4 example of bad CSR:
Croups teams and Belbin, tuckman
2. indirect rivally
3.power of buyes
4.power of supliers